Category: Investment flash

22 Aug

The SNB will not be influenced by the acceleration in GDP

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 [...]
07 Aug

The BOJ causes an earthquake in the markets

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 [...]
31 Jul

The rise in american equities may last

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 [...]
24 Jul

It’s time to favor Swiss small & mid caps

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 [...]
17 Jul

Lower interest rates will boost alternative energies

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 [...]
10 Jul

Superior opportunities for USD bonds

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 [...]
03 Jul

Swiss equities to catch up in the 2nd half of 2024

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 [...]
26 Jun

Ten-year interest rate target reached for confederation

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 [...]
19 Jun

The french political crisis creates opportunities

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 [...]
13 Jun

Benefit from high volatility in the energy segment

Over the past few weeks, the economic slowdown scenario has gradually gained strength, with an already clear impact on oil prices. As negative surprises intensified in the United States, crude oil prices slid from $86 a barrel to $73 in just nine weeks. This -15% correction in the (...) Attractive opportunities on oil-related BRC Discover [...]