News

As expected, the ECB’s Governing Council (GC) today left unchanged its three key policy rates. The decision to hold rates was “unanimous”. Nadia Gharbi, Senior Economist Pictet Wealth Management. There were no new announcements. Of particular note, the possibility of accelerating ‘normalisation’ of the ECB’s balance sheet…

Enrique Diaz Alvarez, Chief Financial Risk Officer, Ebury. The escalating war between Israel and Hamas, together with the steady stream of positive surprise from the US economy drove the dollar higher last week. The greenback rallied against every major currency except the Yen and a handful of…

Unsustainable fiscal path César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. Consumer resilience and tightening financial conditions are battling to determine the course of the US economy, and a bumper round of earnings reports this week will help shed light on which is prevailing.…

Fed done despite inflation running hot César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. Stronger-than-expected inflation last week showed US core price pressures remain resilient, and we expect Federal Reserve policymakers to keep a hawkish bias even if they do not raise rates again…

The European Commission's announcement in early September that it was opening an investigation into Chinese subsidies for electric vehicles highlights China's dominance in this field According to the European Automobile Manufacturers Association (ACEA) China accounts for 15% of electric vehicle imports into the European Union…

Pictet Wealth Management Strengthening policy support and signs that manufacturing is stabilising point to a moderate recovery over the rest of the year, although China’s longer-term growth potential is weakening. In recent weeks, missed debt repayments by another major property developer and one of the…

Pictet Wealth Management’s latest positioning across asset classes and investment themes. Macroeconomy The latest data releases suggest that global manufacturing activity might stabilise, although activity remains stronger in emerging economies than in developed ones. Likewise, while international trade has continued to plunge, there are signs…

How generative AI has re-ignited investor enthusiasm for tech stock John Gladwyn, Senior Investment Manager Pictet Asset Management. While the ideas behind AI have been around longer than most investors have been alive, an area which had previously been regarded as the preserve of computer…

Geneva, 5 October 2023 Union Bancaire Privée (UBP) announced today that it has aligned its Asset Management sales organisation with its growing structure and ambitions. In this context, UBP has hired Christian Betzel as Head of Wholesale EMEA from 1 October. In addition, Nicolas Delrue…

Generative AI may have enthused investors, but it's only a subplot in the much grander story of the technology sector's transformation. Anjali Bastianpillai ,Senior Client Portfolio Manager Pictet Asset Management Childrens' homework, social media posts, magazine articles, books – ChatGPT can apparently do it all.…