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.

Largely justified correction

Markets may remain choppy for some time but we don’t expect a bear market

Japan: tax hike unlikely to harm economy

By: Johannes Müller

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

Investment Traffic Lights | Quarterly Edition

On a 12-month horizon, we are positive on most risk asset classes, even though we expect inflation to keep the markets busy this year.

Investment Traffic Lights | Quarterly Edition

Omicron and inflation have hit markets. But they probably won’t change the economic outlook much. We con-tinue to believe a good year for the markets lies ahead.

Investment Traffic Lights | Quarterly Edition

Markets have come well through summer as companies made decent profits and interest yields remained ultra-low. The conditions are good for equities.

Investment Traffic Lights

By: Björn Jesch

Our monthly market analysis and positioning

Investment Traffic Lights

By: Björn Jesch

Our monthly market analysis and positioning

Investment Traffic Lights

By: Björn Jesch

Our monthly market analysis and positioning

Investment Traffic Lights

By: Björn Jesch

Our monthly market analysis and positioning