Category: Investment flash

Prior to last week's sharp decline, WTI crude prices were still trading above $86 a barrel, a level similar to that seen prior to October 7, 2023. The heightened geopolitical risks associated with Israel's intervention in the Gaza Strip had not immediately caused major uncertainty in (...) Bullish recovery likely in 2nd half Discover our [...]

The USD bond market (-2%) will undoubtedly end the month with one of its worst performances since 2022, due to the contrary trend in inflation and the contraction in Fed rate cut expectations. Consensus now expects only a 50bp adjustment to December Fed funds (5.04%), whereas (...) Nominal and real US Treasury yields are attractive [...]

A busy week for the S&P500, with 43% of companies announcing their results, including 4 of the Magnificent 7. On the macroeconomic front, we are also awaiting inflation (PCE), which will also be a guide to the evolution of US monetary policy. The index had taken profits (-5%) in April with the rise in long [...]

At the start of 2024, the industrial metals segment was still largely penalized by a mixed global growth outlook, overestimated recession risks in Europe and insufficient momentum in China. In recent days, perceptions have improved somewhat, thanks in particular to more positive developments in China. The index's recovery of nearly (...) Rising prices driven by [...]

In November 2023, we highlighted the exceptional opportunity offered by the Swiss securitized real estate markets against the backdrop of an expected further fall in inflation in our country, and the strong likelihood of the Swiss National Bank (SNB) lowering its key rates by becoming the first (...) Attractive yields, risk premiums and agios Discover [...]

The latest US inflation figures measured by the PCE (core personal consumption expenditure) indicators seem to reinforce the likelihood of Federal Reserve action in June. February's positive surprise of a core PCE indicator (excluding food & energy) at just +0.3% perhaps paves the way for (...) Still very positive environment for dollar-denominated assets Discover our [...]

The faster-than-expected fall in inflation in Europe at the end of 2023 quickly had a major impact on investors' expectations of key rates and market rates for 2024. These over-optimistic expectations have (...) Capital gains on lower interest rates in Q2 2024 Discover our Investment Flash down below: Read more To make sure you don't [...]

When the Chinese authorities acted in January to restore investor confidence in China's equity market, we pointed out that its interventions could well be successful when the stock market rout had already cost investors $6,000 billion since (...) Recovery in exports and industrial production underpins the recovery Discover our Investment Flash down below: Read more [...]

Since 2022, the spectacular rise in inflation has prompted changes in monetary policy and interest rate hikes in most countries. In Switzerland, as inflation (CPI YOY) jumped from 1.5% to 3.5%, between December 2021 and August 2022 the Confederation's ten-year yields underwent an adjustment from -0.68% to (...) Inflation and interest rate differentials finally in [...]

The price of the yellow metal has soared to new heights in recent days, after stabilizing for a long time at levels close to its previous peaks of 2020, 2022 and 2023, slightly below $2,100 per ounce. In 2023, gold prices failed to resist profit-taking on the approach to all-time highs, while (...) Gold resumes [...]