Category: Investment flash

After the Fed Chairman's comments at Jackson Hole on Friday, which now suggest that it's time to lower rates, a rotation in favor of US small caps looks increasingly likely. The long-awaited lowering of key rates will mark a new (...) A rotation favored by the Fed's first rate cut, expected on September 18 Discover [...]

Swiss flash GDP growth of 0.5% in the 2nd quarter once again surprised economists, who were expecting growth of 0.4%. The economic surveys suggested that activity was picking up, and despite some concerns in industry, the +6.4% rise in production proved to be very (...) Swiss growth intensifies with no immediate risk to interest rates [...]

We had announced a probable rate hike in Japan on July 31, but this had extremely rapid repercussions on the exchange rate and on the ongoing carry trade, sending many markets around the world tumbling rapidly. The BOJ decided to (...) Japanese rate hike kills ongoing carry trade Discover our Investment Flash down below: Read [...]

The next few months should finally see the long-awaited change in monetary policy by the Fed, which will finally initiate a new cycle of rate cuts in September. This will support the soft landing scenario in an environment that is now (...) Easing of monetary policy in September will support the trend Discover our Investment [...]

Following the SNB's second rate cut, and in view of the fact that inflation is well below its 2% target, we expect the SNB to cut rates by a further 0.25% in September, reducing the key rate from 1.25% to (...) Weak Swiss franc and low interest rates will benefit this market segment Discover our [...]

While the cycle of negative monetary conditions for alternative energies has already reached its inflection point in the Eurozone, it is now very close to reversing in the USA. A cycle of key rate cuts will be synonymous with declining financing costs and lower capitalization rates. In June, the consumer price index recorded (...) Attractive [...]

Monthly inflation for May proved better than expected, rising by just +0.006%. This is now the 3rd consecutive monthly decline in the level of inflation, which is now clearly below the data that had worried the markets in February (+0.4%). The May figure thus sees inflation at its lowest (...) Longer maturities in investment grade [...]

Following the SNB's second key rate cut in June, we expect it to cut rates again in September, from 1.25% to 1%, in view of inflation trends well below its 2% target. The SNB is aiming for a neutral, non-expansionary monetary policy, which should be characterized by real interest rates of (...) More favorable conditions [...]

The Swiss National Bank did not initially react to the rise in inflation following the Covid crisis, which strengthened in 2021 and 2022, peaking in August at 3.2% (CPI all items). Inflation had already started to trend downwards, as the SNB raised rates for the first time from -0.75% to (...) Inflation already expected to [...]

Inflation in the eurozone is no longer falling, and is stabilizing slightly above 2%, as indicated by the latest eurozone CPI published today. Services, housing and energy have returned to reasonable levels, and no longer seem to represent an immediate risk of slippage. As a result, the ECB was able to (...) Equities to benefit [...]