28
Mar
Fragile economic climate. Persistent uncertainty. Risk of stagflation. Inflation not yet under control. BoE will have to cut rates. High risk premium for bonds. Securitized real estate on hold. FTSE 100 target achieved. Key points Economic weakness continues into 2025 Uncertainty does not support the British economy Leading indicators confirm GDP stagnation Labour market still [...]
26
Mar
With only a week to go until April 2nd, Liberation Day, when Trump's tariff policy will be detailed, uncertainty remains very high, even if it seems that financial markets are tempted to “bet” on further White House backtracking, as suggested by [...] But the risk of recession is rising dangerously Discover our Investment Flash down [...]
19
Mar
The price of the yellow metal reached and surpassed the USD 3,000 per ounce threshold, recording another exceptional +16.5% rise since the beginning of the year, after an already extraordinary year in 2024 (+27.2%). Should we therefore [...] Uncertainty dominates markets and boosts yellow metal prices Discover our Investment Flash down below: Read more To [...]
12
Mar
For several months now, we have been talking about the fact that Trump's policies will have a faster impact on the confidence and the investment climate than on [...] The risk reduction process is not yet complete Discover our Investment Flash down below: Read more To make sure you don't miss any of our publications [...]
11
Mar
Exports support GDP. Q1 2025 probably solid. Positive momentum in services. Further rate hike in March. Potential appreciation of yen to 140 against USD. Increasing risks for the Nikkei. Ten-year yield at 1.5%. Key points Strong Japanese economic recovery supported by rising exports First quarter of 2025 likely to be solid Leading indicators supported by [...]
05
Mar
During the last three US recessions (2001, 2008 and 2020), yield curves normalized each time, with short rates falling twice as fast as long rates. This followed episodes of [...] Atlanta Fed's GDPNow is a fresh warning Discover our Investment Flash down below: Read more To make sure you don't miss any of our publications [...]
04
Mar
Weak Q1 GDP growth. Services PMI still solid. Near-deflationary situation on a monthly basis for the past six months. Zero key rates in 2025? Bond opportunities to be avoided. Positive outlook for small caps. Key points Swiss growth slows despite resilient household consumption Q1 GDP growth limited to +0.2% Swiss exports slide at the start [...]
24
Feb
After one month as president, Donald Trump has seen his popularity rating fall to a level never before reached by an elected president. This decline is largely due to his aggressive and unapologetic policy of stunning his political and economic opponents with extreme (...) Reducing risk in the face of increasing uncertainty Discover our Investment [...]
19
Feb
From a relative point of view, small and mid-cap stocks in Europe and the United States have performed less brilliantly than large-cap stocks in recent quarters. Since the start of 2024, Europe's 50 largest stocks (SX5E) have gained +26.5% in euros in almost 14 months, while (...) New opportunities outside the blue chips Discover our [...]
11
Feb
The domestic context of low interest rates, inflation under control, a declining exchange rate at last, and expected earnings growth of +19%, is generally favorable to a rise in Swiss small caps in 2025. They will benefit from this environment to a greater extent than in 2024, not least because of the change in sentiment [...]
