SERIOUS THREATS LOOM OVER SWISS STOCKS 2/3

10 Sep

SERIOUS THREATS LOOM OVER SWISS STOCKS 2/3

The latest leading indicators for Q3 present a very mixed economic outlook. The manufacturing sector continues to face significant difficulties, with the industrial PMI remaining in contraction territory for the sixth consecutive month. In contrast, the services sector remains a critical pillar of support for the economy.

Key Points

  • Moderate growth in Q2 confirms expected slowdown
  • High risk of stagnation in Q4 Leading indicators more nuanced and mixed
  • CPI and PPI indices settle into deflation
  • The SNB must act by lowering its rates by 50 basis points
  • The franc benefits from a unique context
  • Swiss bonds offer no prospects
  • Serious threats weigh on Swiss equities