Macro Update

Use of US stimulus checks

US households received a 3rd stimulus check last month, as part of the various rescue plans voted by Congress. Did this money pour back into the US economy or was is rather saved or used toward debt? Listen to Valentin Bissat's analysis and discover the statistics.

Bond moment

Accra-Islamabad

Ghana and Pakistan, both rated B-, have returned to the international bond market recently. How did the markets react and how could we describe their respective success? Listen to our expert Catherine Reichlin to find out more.

Macro Update

Central banks – low for longer, but for how long?

In March, many central bank meetings took place. Whether the ECB, the US Fed or our very own Swiss National Bank, what is the main message coming from them and what does it imply on our asset allocation? Listen to our Chief Economist Gero Jung.

Bond moment

Can money buy peace of mind?

In a falling yield environment, investors worry about their re-investment risk but in a rising yield environment, which is currently the case, it is the issuers who worry about having to face higher costs. So what can they do? Our expert Catherine Reichlin will answer this question using the example of the car rental company Avis.

Weekly Insights

El sector de los semiconductores, ¿una tranquila recuperación a pesar de la tormenta?

¿Invertirías en el sector de los semiconductores? Este sector, que se ha visto atrapado en la tormenta de la recesión de la bolsa tecnológica estadounidense, se beneficia, no obstante, de la reapertura de la economía. Escuche lo que John Plassard tiene que decir sobre el tema.

Macro Update

How is the US dollar doing?

Is dollar weakness over and what does it mean for asset allocation? Listen to the view of our economist & strategist Marie Thibout on this subject.

Bond moment

Green isn't a shield

Stars are aligned and the fight against climate change may have found its financing tools: green bonds. While records in terms of new issues will very probably be broken in 2021, let’s not forget that green bonds are first and foremost bonds… and are subject to the same market risks than any other bond. Let Catherine Reichlin explain you more in her Bond Moment.

Weekly Insights

Conquista del espacio y del mercado financiero

El banco de inversión Morgan Stanley estima que la industria espacial global podría generar ingresos de más de $ 1 billón en 20 años. SpaceX ahora está desarrollando cohetes reutilizables para reducir los costos de lanzamiento, que bien podría marcar un punto de inflexión histórico en la inversión espacial. ¿Invertirías en la industria espacial?

Macro Update

Fed's "Operation Twist" programme

Federal Reserve members are meeting today to discuss the monetary policy stance in the US. Given the rise in long-term yields, Fed Chair Powell will certainly be asked about a possible “Operation Twist”. But what is it exactly? Listen to our expert Valentin Bissat.

Bond moment

Same but different

Today our financial expert, Catherine Reichlin talks about the recent global increase in long-term yields. Indeed, while the pandemic has brought the monetary and fiscal policies to converge, the end of the crisis seems to accentuate gaps between countries and create discrepancies.

Weekly Insights

¿«Nunca apuestes contra Estados Unidos»?

"Nunca apuestes contra Estados Unidos", es lo que dice Warren Buffet en una carta pregonando los activos de Berkshire en Estados Unidos en 2021. Escuche lo que nuestro experto John Plassard tiene que decir al respecto y su explicación de este crecimiento económico, así como la posición de Estados Unidos contra China.

Macro Update

The US consumer is on fire

US consumer spending, which represents more than 2/3 of total US economic activity, appears to be on fire... Could that be a sign of recovery for global growth? Listen to our Chief Economist Gero Jung to know more.

Bond moment

Nature bonds

A new type of bond could be created this year: Nature bonds. The protection of biodiversity is now emerging as a crucial issue for financial markets, given that more than half of the world's GDP is based on natural resources. Pakistan could be the first state to take the plunge! A case to follow.

Weekly Insights

¿Es el fin de las empresas tecnológicas?

En esta actualización semanal, John Plassard señala los desafíos que esta recesión económica plantea para las empresas de tecnología y su lugar en el mercado. FANGs se enfrentan a problemas importantes. Esto lleva a la siguiente pregunta: ¿es este el fin de los valores tecnológicos?

Macro Update

Sectorial allocation update

Time to switch from growth to value stocks? Listen to our economist & strategist Marie Thibout, giving us a sectorial allocation update, to know more about this question.

Bond moment

Reflation

The word reflation is currently around every corner... what is it exactly and how does it affect bond markets? Let Catherine Reichlin tell you more about it in her Bond Moment.

Weekly Insights

Arena

¿No estaríamos subestimando la importancia y el valor de la arena? Escuche las ideas de John Plassard sobre este material crucial.

Macro Update

Cyclical equities

Why do we maintain a positive view on cyclical equities in a context in which analysts fear that the reflation trade is already priced into markets, and rising long-term yields in the US could hurt equities? Listen to Valentin Bissat to know more.

Bond moment

Total.ly surprising

Catherine Reichlin today reflects on Total's surprising announcement to issue only sustainability linked bonds to finance its operations. Will investors respond more favourably than when Repsol made a similar attempt in 2017?

Weekly Insights

Rendimiento de los bonos del tesoro de EEUU

John Plassard pone hoy un especial enfoque en los bonos del tesoro de EEUU y responde a 5 preguntas importantes al respecto. ¿Por qué el rendimiento del bono del tesoro a 10 años está aumentando tan bruscamente? ¿Es realmente tan grande el riesgo de inflación? ... Escuche su profundo análisis del día.