In economic terms, the recovery during the past year has been a success. The growth level and earnings trend are both clearly better than previously feared. This has served as rocket fuel for stock exchanges and credit markets, which have shown one of their strongest 12-month periods in history.

'At present, the economic outlook is good, but it is important to have a good idea of potential risks. An environment of high valuations and risk appetite decreases upside potential and increases possible risks. However, overall pricing is still acceptable if economic forecasts prove correct and provided that inflation and bond yields do not skyrocket,' says Fredrik Öberg, Chief Investment Officer, SEB Private Banking.

This May 2021 issue of Investment Outlook also includes an in-depth look at the healthcare sector, which has been in the public spotlight throughout the pandemic but has not received that much attention in stock markets, since investors have focused on the choice between growth stocks and cyclical, low-valued stocks. Our second theme article examines the gaming sector - a fast-growing industry in which a number of Nordic companies have established successful operations.

Investment Outlook can be read in its entirety or as a two-page summary at seb.se/investmentoutlookreport


SEB is a leading northern European financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 31 March 2021, the Group's total assets amounted to SEK 3,443bn while its assets under management totalled SEK 2,243bn. The Group has around 15,500 employees Read more about SEB at https://www.sebgroup.com

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SEB - Skandinaviska Enskilda Banken AB published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 05:34:04 UTC.