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Central banks take centre stage

A major change of course is taking place, and policy normalisation is now out-dated. In light of the potential slump in international trade and sharp decline in inflationary expectations, the Fed and the ECB have already announced rate cuts in the second half of the year.

Market Insights – 1st of July 2019

The G20 summit ended with another truce in the spiralling trade war: President Trump withdrew his threat to impose tariffs on the remaining USD 300bn in Chinese imports and agreed to resume trade talks. However, he did not backpedal on the tariff hikes introduced in early May, or on setting a deadline for reaching a deal…

Market Insights – 17th of June 2019

This week, all eyes will be on the US Federal Reserve, which is meeting on Wednesday evening. Investors will be looking for confirmation that the Fed is getting ready to cut rates over the summer. Jerome Powell mustn’t get it wrong, and the markets already seem to be pricing in one, if not two, rate cuts by the Fed’s September meeting…

Market Insights – 10th of June 2019

In the USA, weak job creation figures, which came in at 75,000 instead of the forecast 175,000, are not in themselves cause for concern, as they tend to be volatile from one month to the next. One positive sign, however, is wage growth, which remained moderate and should not push up inflation. That will strengthen the Fed’s argument as it adopts a more dovish tone…

Market Insights – 3rd of June 2019

While other stock markets around the world struggled, the SPI hit a new record high last week. And Swiss GDP growth in Q1 came in well above analysts’ forecasts, at 1.7%. This is further proof of…

Market Insights – 27th of May 2019

Commodity prices have been very volatile over the past two weeks, with some trends doing an about-turn, no doubt helping to correct an extreme positioning. Oil prices fell as inventories rose, and agricultural products bounced back in the wake of flooding in the USA.

Climate Action, a sustainable investment solution

Climate change will have potentially irreversible impacts on the planet. The stakes are enormous and it is essential that each of us participate in efforts to avoid environmental disasters for future generations. Massive investments are needed to fight global warming and companies positioned to adapt to these changes represent unique investment opportunities.

Market Insights – 20th of May 2019

China’s economy fell short of expectations in April, with growth in industrial output dropping to 5.4% year over year, and growth in retail sales slipping to 7.2%. This should prompt the Chinese government to…

Market Insights – 13th of May 2019

US investors moved into the most defensive sectors last week. Consumer staples, health care and utilities held up better than industrials and materials, as the renewed US-China trade tensions…

Market Insights – 6th of May 2019

President Trump changed his tone on trade negotiations with China and threatened to raise tariffs – but it’s too early to tell whether this is just a negotiating tactic. However, both countries are in a stronger position…