Category: Publications
PERFORMANCES 2019 Equities Bonds MSCI World +4.0% CHF Corp +1.5% S&P 500 +15.2% US Govt +1.8% Stoxx 600 +14.8% US Corp +5.3% Nikkeï +8.5% US HY +8.0% SPI +16.5% EUR Gvt +3.5% China +32.8% EUR Corp +3.5% Emerging +13.5% EUR High yield +5.5% Currencies Commodities USD index +0.9% Gold +1.3% EURUSD -1.8% Silver -2.9% EURCHF […]
Retrospective The Fed adopts a cautious approach given the recession risks The Fed brutally changes its monetary policy stance, which goes from a restrictive mode – balance sheet shrinking, and 3 to 4 rates hikes expected in 2019 and 2020) – to a (very) dovish tone, including only one rate hike in 2020 and slowing […]
PERFORMANCES 2019 Equities Bonds MSCI World +13.8% CHF Corp +1.4% S&P 500 +14.6% US Govt +1.5% Stoxx 600 +14.8% US Corp +4.7% Nikkeï +8.5% US HY +7.6% SPI +15.5% EUR Gvt +3.2% China +34.9% EUR Corp +3.3% Emerging +11.8% EUR High yield +5.4% Currencies Commodities USD index +1.1% Gold +0.2% EURUSD -2.2% Silver -3.3% EURCHF […]
PERFORMANCES 2019 Equities Bonds MSCI World +11.2% CHF Corp +1.6% S&P 500 +11.9% US Govt +2.3% Stoxx 600 +12.1% US Corp +5.3% Nikkeï +5.1% US HY +7.0% SPI +13.9% EUR Gvt +4.0% China +23.8% EUR Corp +3.2% Emerging +8.1% EUR HY +4.6% Currencies Commodities USD index +1.0% Gold +1.3% EURUSD -2.2% Silver -2.2% EURCHF -0.8% […]
PERFORMANCES 2019 Equities Bonds MSCI World +12.1% CHF Corp +1.2% S&P 500 +12.7% US Govt +1.2% Stoxx 600 +12.6% US Corp +3.9% Nikkeï +8.0% US HY +6.8% SPI +13.5% EUR Corp +2.7% China +27.4% EUR High yield +4.6% Emerging +10.6% Currencies Commodities USD index +0.1% Gold +2.7% EURUSD -0.7% Silver +0.4% EURCHF +0.4% Brent +26.9% […]
PERFORMANCES 2019 Equities Bonds MSCI World +11.2% CHF Corp +1.1% S&P 500 +12.1% US Govt +0.8% Stoxx 600 +11.2% US Corp +3.3% Nikkeï +6.4% US HY +6.4% SPI +13.1% EUR Gvt +2.4% China +22.8% EUR Corp +2.4% Emerging +8.8% EUR HY +4.1 Currencies Commodities USD index +0.4% Gold +1.5% EURUSD -1.2% Silver -1.1% EURCHF +0.9% […]
Geneva, March 2019 As 2019 gets underway, it is with strong enthusiasm, great motivation, energy and pride that we wish to inform you about important developments concerning our company. Today’s world witnesses rapid and profound changes to which we have to adapt. We therefore focus our efforts on the modernisation of the group’s various […]
PERFORMANCES 2019 Equities Bonds MSCI World +11.3% US Treasuries -0.1% S&P 500 +11.8% US Corp +2.4% Stoxx 600 +10.8% US High yield +6.3% Nikkeï +9.0% EUR Gvt +1.4% China +25.5% EUR Corp +1.8% MSCI Emergings +8.9 EUR High yield +3.9% Currencies Commodities USD index +0.4% Gold +0.4% EURUSD -1.1% Silver -2.2% EURCHF +0.8% Oil (Brent) […]
Strategy and Macro Asset allocation We consider the global investment landscape as complex and potentially volatile. The ongoing change in liquidity regime is not over yet. Last year markets’ corrections proved valuable in a) addressing growing signs of speculation b) modifying investors’ complacent mood, namely retail ones. The central banks’ pause in its normalization process […]
PERFORMANCES 2019 Equities Bonds MSCI World +10.8% US Treasuries +0.5% S&P 500 +11.4% US Corp +2.7% Stoxx 600 +9.9% US High Yield +5.8% Nikkeï +7.6% EUR Gvt +1.7% China +23.9% EUR Corp +1.9% MSCI Emerging +9.6% EUR High Yield +3.2% Currencies Commodities USD index +0.2% Gold +3.7% EURUSD -1.0% Silver +3.2% EURCHF +0.7% Brent +24.4% […]