The economic recovery is underway. SNB staying on course. Swiss franc likely to weaken against the euro. New paradigm for interest rates. Risks return to equity markets.
- Swiss GDP falls by -8.2% in Q2, by -10.5% in H1
- Switzerland withstands the shock of Covid-19 better than its neighbours
- Solid growth prospects in H2 for Swiss GDP, expected to rise by 5.5%
- SNB maintains a policy distinct from that of the major central banks
- Swiss franc likely to weaken
- Temporary new paradigm in fixed income markets
- Risk-reward ratio again unfavourable to Swiss equities