Category: Investment flash

Crude oil prices have risen by almost 30% since their March 2023 low and are now trading at their highest level of the year, at $85.5 for WTI and $88.5 for Brent. They have finally reacted positively (...) Rising crude oil prices and oil stocks set to continue Discover our Investment Flash down below: Read [...]

China's central bank (PBoC) may well be on the verge of changing its strategy and adopting a more aggressive monetary policy to support a Chinese economy that is performing less well than expected. The expected growth of +5.1% for 2023 seems (...) The PBOC will support GDP with further cuts in the RRR and MLF [...]

Real TIPS yields are once again at record highs, a phenomenon that is unlikely to last. Ten-year nominal Treasury yields should theoretically take into account long-term trends in the economic cycle and inflation trends, but in practice, long rates are largely influenced by short-term prospects. This is particularly the case since the raising of the [...]

The SNB still seems concerned about the level of inflation, despite the very sharp decline in price indices, which pushed the annual CPI (+1.6%) below its target (+2%). It is still considering further increases to ensure (...) Beware of a more restrictive monetary policy than you might think Discover our Investment Flash down below: Read [...]

Fitch's downgrading of the US Treasury's long-term credit rating from AAA to AA+ is unlikely to have a major impact on the US government's ability to borrow on the markets. But this decision comes at the wrong time, when (...) Yet falling inflation suggests lower yields Discover our Investment Flash down below: Read more To [...]

Eurozone GDP rose by +0.3% in Q2, putting an end to two quarterly sequences of stagnation, while core inflation no longer slipped, stabilizing at +5.5% in July. This modest return to growth, in an environment that is still too inflationary, should not (...) Growth and inflation will push rates even higher Discover our Investment Flash [...]

The fall in listed real estate values has now reached levels which, in our view, already largely reflect the risks associated with a possible increase in debt refinancing difficulties for lots of real estate companies. For many of them, current price levels (...) High discounts compared to intrinsic values Discover our Investment Flash down below: [...]

U.S. equities benefited above all from the renewed interest in the Nasdaq's blue-chip stocks, and the recent enthusiasm for Artificial Intelligence. While the FANG+ index jumped by +81%, the S&P500 recorded a much (...) Overweight securities other than FANG+ Discover our Investment Flash down below: Read more To make sure you don't miss any of [...]

In recent months, equity markets have shown excellent resilience despite the tighter interest rate environment in May and June, and the Fed's recent standstill. The S&P500 index continued its upward trend up +10% since the start of the year. Our expectations of a bullish recovery in the equity markets supported by (...) Extended participation in [...]

Since its announcement at the beginning of April, aimed at countering the speculative downward spiral in oil prices, OPEC+ countries have indeed reduced their production. But the reduction was only around 0.2 mb/d, significantly less than expected, and was offset by the rise in US shale oil production. Saudi Arabia's announcement today that it will [...]