11
Jun
Is the current euphoria in the Swiss equity market sustainable?
Sharp upturn in GDP growth. Solid outlook for 2019. Interest rate trends still atypical. Caution with regard to euphoria in the equity market.
Key Points
- Sharp increase in GDP in Q1 (+0.6%, +1.7% yoy)
- We maintain a growth outlook of +1.5% for 2019
- Domestic and foreign demand together are boosting economic momentum in Switzerland
- Outlook still solid for Q2 2019
- Leading indicators no more optimistic in May than in April
- Low likelihood of Swiss franc appreciating significantly
- Long-term interest rate trends still atypical
- Euphoria in the Swiss equity market
- Temporary correction in securitised real estate
