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Monthly Archives

July 2023

Investing

(Slightly) higher for longer

We expect central banks to terminate their rate-hiking campaigns in the coming months, but they may continue to sound hawkish. Frederik Ducrozet, Head of Macroeconomic Research Pictet Wealth Management. In order to push back against a resurgence of rate cuts expectations, central bankers may have…
KFI
12 July 2023
Investing

Recession?

This month’s Editorial by Olivier de Berranger, Deputy Chief Executive Officer and CIO, La Financière de l’Echiquier. The resilience of the global economy, and particularly that of the G7 countries other than the United Kingdom, was surprising throughout the first half of 2023. 2022 was…
KFI
11 July 2023
Investing

Ebury Soft US data weakens dollar

Enrique Diaz Alvarez, Chief Financial Risk Officer, Ebury. A spate of US labor market report last week came out a touch softer than expected, culminating in the headline payrolls number for June. The data cannot be described as weak, and in fact US yields continued…
KFI
10 July 2023
Investing

Mind the gap – what to make of the two-speed economies?

Xiao Cui and Nadia Gharbi, Senior Economists at Pictet Wealth Management, on the macroeconomics of the United States and the euro zone. Despite one of the most aggressive monetary tightening cycles in history, the US and the euro area are currently two-speed economies. Divergence between…
KFI
06 July 2023
Investing

Secular Outlook 2023

Securing single-digit annual returns from a diversified portfolio could prove an unusually complex task in the next five years, largely because of volatile inflation and more muscular state intervention. 1. Overview: return projections for the next five years Investment strategies will need an overhaul over…
KFI
06 July 2023
Investing

Follow the growth

Luca Paolini, Chief Strategist, Pictet Asset Management said: “Valuations are creeping back up as financial markets are pricing in a sharp bounce in economic activity and interest rates cuts. However, we see little evidence for this optimism.” Asset Allocation: We remain underweight equities. Much of…
KFI
04 July 2023
Investing

Weekly View: Persistence

César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. Happy 4th of July The tech-dominated Nasdaq recorded its best first half in four decades, while robust US growth data and softer inflation numbers meant that the broad S&P 500 also ended the half on a…
KFI
04 July 2023
Investing

Half-year Outlook AllianzGI: bumpy second half 2023

Global inflation is still high and a recession is probably near. Therefore, asset manager AllianzGI foresees a bumpy second half of the year. But with the right timing, potential entry points could emerge for investors in equities, high-yield bonds and commodities. However, they should then…
KFI
03 July 2023