Domestic demand is supporting growth. Strong franc dampens inflationary momentum. Unexpected change in monetary policy by the SNB. Extreme volatility in the capital market. A window of opportunity opens for Swiss stocks. Key Points Swiss economy resists headwinds Public and private consumption remain the main drivers of the Swiss economy Leading indicators continue to plummet […]
Global Investment Climate – Key Points A transitional quarter for financial assets Monetary policy normalisation begins The business cycle is not threatened by the Delta variant The real drivers of inflation are not transitory Long-term interest rate cycle trending up Return of uncertainty for risky assets UAE Investment Climate – Key Points UAE economy on […]
The Swiss economy is in top form. Growth figures leading to trend reversal in bond markets. The SNB is still not afraid of inflation. Significant correction underway in equity markets. Key Points Swiss GDP grows +1.8% in Q2 2021 and 7.7% year-on-year Strong comeback of domestic demand Leading indicators support a solid growth outlook Manufacturing […]
Equity markets are threatened by rising interest rates following the historic rebound in inflation. Trend change in the “Growth” vs “Value” match. Complicated outlook for US equities. European equities are already approaching their 2021 targets. Key Points Rising US inflation and long rates threaten equity markets Trend change in the “Growth” vs “Value” match Complicated […]
International real estate goes toe to toe with equities. Vaccination campaigns offer new perspectives. Economic stimulus packages also benefit real estate. Key Points International real estate goes toe to toe with equities Vaccination campaigns offer new perspectives The long-term effects of the pandemic on international real estate markets should be kept in perspective Economic stimulus […]
Long-term interest rates will gradually rise across the board. Renewed attractiveness of dollar bonds. Investment strategy focused on USD, CAD, and AUD markets. Key Points Long-term interest rates will gradually rise across the board Renewed attractiveness of dollar bonds New upward trend in interest rates temporarily curbed by ECB action Trend reversal in interest rate […]
An incredible 2020 for commodities. Focus on the last two super cycles for commodities. Rapid inventory reduction. Four main factors supporting increased demand. Key Points An incredible 2020 for commodities Focus on the last two commodities super cycles Are we heading for a new positive commodities super cycle? Rapid inventory reduction Four main factors supporting […]
Global Investment Climate – Key Points Bond markets are finally taking into account the improved growth prospects The rise in long-term interest rates is intensifying in the US but is partially sparing the euro zone Business cycles are gradually converging Global growth will be strong in 2021 and 2022 Financial assets could suffer from the […]