15
Jun
After outperforming the S&P500 (+18.4%) and the Nasdaq (+47.5%) in 2020, alternative energies (+142.1%) underwent a period of consolidation and logical underperformance in 2021 (-19.8%), before holding up rather well (-4.5%) against the general collapse of equities in 2022 (S&P500 -18.3%). The rebound of the S&P500 (+12.8%) or the Nasdaq (+33.3%) in 2023 has so [...]
14
Jun
Good economic growth in Q1 (+0.5%). Inflation (+1.9%) in sharp decline and already below SNB target. End of rate hike cycle in sight. Opportunities in bond markets. Bullish revival for equities. Key points Swiss economy surprises on the upside with +0.5% GDP growth in Q1 Domestic demand and exports underpin GDP Leading indicators still very [...]
07
Jun
After outperforming the S&P500 in 2020 and matching the Nasdaq, the Biotechnology sector experienced a long dry spell in 2021 and 2022. The S&P Biotechnology index's collapse of almost -41% in two years proved bloodier than the Nasdaq's -13.8% fall, and even more so in the face of the S&P500's +5% advance. Too many companies, [...]
31
May
Swiss GDP growth of +0.3% in Q1 2023 and +0.6% year-on-year (+0.5% after adjusting for the effects of sporting events) surprised observers, who were only expecting a +0.1% rise. Slightly better momentum at the start of the year was underpinned by (...) GDP growth and inflation will not upset the balance Discover our Investment Flash [...]
24
May
The drop in Chinese demand had been one of the main factors penalizing the evolution of industrial metals' markets, which were down by -8% in 2022. After a few positive weeks at the beginning of the year, which had pushed prices to extremes in a panic caused by (...) China's renewed growth reinforces imbalances Discover [...]
17
May
Securitized real estate is too severely affected by rising rates. Discounts in Europe and the UK. Attractive absolute returns. Appealing risk premiums in Switzerland. Historical premiums and discounts for Swiss assets. Key points Return of volatility in securitized real estate The correction in securitized real estate is an opportunity European securitized real estate unfairly penalized [...]
17
May
China's inflation continues to slide steadily and continues the decline that began in October. The CPI index is now only advancing by +0.1% over one year in April, after peaking at +3% in September 2022. Inflation is therefore under control in the country, the index excluding food and energy advances only by +0.7%, while (...) [...]
11
May
The profit expectations for all stocks in the SMI index are +16.5% for the next twelve months, while the global economic scenario is rather positive with risks of temporary regional recessions during the year. Almost half of the companies in the SMI have (...) Investment policy focused on secondary stocks Discover our Investment Flash down [...]
03
May
The fall in international listed real estate stocks observed in February and March does not seem to us to reflect the negative situation for most of them. Indeed, often falling back to the price levels of the beginning of Q4 2022 and sometimes already significantly below them (...) The recent correction is an opportunity to [...]
26
Apr
A major shift is taking place in global commodity trading and beyond this sector in the global trade of goods and services. De-dollarization now seems to be accelerating with the development of a China-backed trend (...) Declining global demand and falling dollar Discover our Investment Flash down below: Read more To make sure you don't [...]
