10
Oct
Global growth of over 4% expected. The Fed's pivot: a decisive turning point for markets and investment. Falling oil supplies drive prices higher. Precious metals still on the rise. Key points Global GDP growth could exceed +4% in 2025 The Fed's pivot is a game changer The new global rate-cutting cycle is a decisive factor [...]
09
Oct
By lowering rates by 50 bps, it has decided to erase its last two hikes of May and July 2023, but we believe it is implicitly acknowledging that it could perhaps have already acted in June with an initial 25 bp cut. The monetary easing cycle is therefore now (...) Six more rate cuts before [...]
05
Oct
GDP growth still solid. A slightly more moderate 2nd half? Easing tensions in the job market. Monetary easing cycle finally underway. Six cuts expected to benefit dollar-denominated assets by 2025. Key points GDP growth still looks solid Will the 2nd half really be weaker? Leading service indicators remain favorable Job market tensions ease The Federal [...]
02
Oct
The eurozone economy has recorded two consecutive quarters of moderate growth. Despite the ECB's change of monetary policy in June, we do not anticipate any acceleration in economic activity over the next few quarters. Leading indicators remain (...) ECB rate cuts likely to accelerate Discover our Investment Flash down below: Read more To make sure [...]
30
Sep
Moderate GDP growth with little likelihood of acceleration. Leading indicators and confidence at half-mast. CPI to fall below +2% very soon. Looser monetary policy. Appreciation of the euro, bonds and equities. Key points European economy grows at a moderate pace No acceleration in short-term growth Leading indicators remain highly uncertain Confidence remains extremely fragile Inflation [...]
25
Sep
The Chinese authorities have finally announced new economic support and stimulus measures. The People's Bank of China reduced its benchmark interest rate from 1.7% to 1.5%, and also announced a 0.5% cut in the banks' reserve requirement ratio (RRR), freeing up almost (...) Measures that should be enough to revive interest in Chinese stocks Discover [...]
23
Sep
The UK consolidates its recovery from recession. 2024 GDP growth above +1%. Inflation not quite under control. Monetary policy finally more flexible. Moderately positive outlook for bonds, real estate and equities. Key points Further UK GDP growth of +0.6 Positive 3rd quarter driven by consumer spending Leading indicators strengthen Uncertain trends in the job market [...]
20
Sep
Return to GDP growth. Fragile positive momentum. Moderate consumer confidence. Inflation still too high. Sustainable rebound of the yen? Lower tensions for BoJ. No interest in bonds. Nikkei at 40,000? Key points Japanese growth resumes at a moderate pace Continued momentum towards the end of the year Leading indicators remain subdued Consumer momentum still fragile [...]
19
Sep
Since our recommendation in November 2023 in favor of Swiss securitized real estate, our expectations of declining inflation and the SNB's change in monetary policy, which were expected to boost the appeal of funds and listed companies, the trend has clearly been (...) Attractive yields, risk premiums and agios Discover our Investment Flash down below: [...]
18
Sep
Temporary acceleration in GDP. Leading indicators still uncertain. Fall in exports. Inflation below 1%. Key rates at 0.75%. Limited franc weakness. Long-term interest rate target reached. Positive outlook for Swiss equities. Key points Swiss GDP growth accelerates significantly Swiss exports plummet since April Leading indicators still too uncertain Inflation will temporarily fall below 1%. SNB [...]
