Massively growing demand for natural resources

Increasing consumption in modern consumer society poses an ever-growing global challenge.

Markets hardly impressed by the Ukraine war

The start of the war a year ago caused markets to plummet, as did expectations. Recently, these were mostly exceeded in Europe. How long can the markets thrive on this?

Markets are barely reacting to the sharp change in the German Federal election odds. Rightly so?

By: Martin Moryson

Making the electric car revolution work

Charging points for electric vehicles are emerging as an increasingly interesting segment infrastructure investors should keep an eye on.

Making sense of commodity price forecasts

Geopolitical risk adds yet another layer of complexity to understanding commodity prices. In terms of forecast accuracy, though, it’s all about the vol.

Little growth, much uncertainty, decent returns

By: Björn Jesch

Over a twelve-month horizon, we expect decent overall returns across many asset classes despite lackluster economic growth and sticky inflation.

Lessons from the U.S. repo-market turmoil

The abrupt repo-rate increase shouldn't have come as a surprise to the Fed. While short-term factors played a role, long-term bugs need to be addressed.

Lending squeeze, rather than credit crunch

For a change, Europe’s banking sector appears in reasonably good shape. That’s good news, not least as supranational decision-making remains fragmented.

Learning the hard way

By: Björn Jesch

Debates about a “soft landing” versus a U.S. recession rather miss some of the harder questions investors should really be concerned about.

Japan: tax hike unlikely to harm economy

After a long struggle, Japan is raising its consumption tax on October 1. Although this will weigh on the economy, we do not believe that it should cause a drastic slump as in 2014.

Japan – still on track

By: Björn Jesch, Lilian Haag

Japan’s financial markets suffered more than most in the early August global market correction. While this shows the perils of leveraged carry trades based on a weak yen, the investment case for the country remains positive.

Italian journeys

A lot has changed when it comes to the European government debt market since the Eurozone crises a decade ago – despite the latest political crisis in Italy.

Italian government bonds beat Bunds

The BTP/Bund spread falls impressively

Is the Swiss franc about to weaken at last?

Since the financial crisis the Swiss currency has trended relentlessly higher against the euro. But recently the first signs of weakness have appeared

Investment Traffic Lights | Quarterly Edition

By: Björn Jesch

Our monthly market analysis and positioning