07
Nov
Q4 Investment Strategy & Outlook
Investment Climate - Key Points
- The global economic situation has improved, and prospects are good for 2018
- Significant change in sentiment toward the Euro-zone and the single currency
- The recovery of the upward cycle on long rates is now more robust in the United States
- Weakening of the Swiss Franc is still on the cards
- Donald Trump’s tax reform could prove disappointing
Key convictions for Q4 2017 - Key Points
- The global economic cycle is gathering pace
- Monetary policies are very gradually aligning
- Recovery of the upward cycle on long rates
- Donald Trump’s tax program could prove disappointing
- Improved energy fundamentals
- Ongoing adjustment of valuation of the Swiss franc
