October 2023

Story of the month The recent flotations of Arm (semiconductor, USA), Klaviyo (digital marketing, USA) and Instacart (food delivery, USA) are stirring hopes for a revival of the dormant IPO market for a year and a half now. All the three IPOs priced in the…

Comments by Franck Dixmier, Global CIO Fixed Income at Allianz Global Investors, ahead of the Fed meeting on 31 October and 1 November. Why we expect the Fed to hold steady We anticipate no change to rates at the next meeting of the Fed's monetary…

Happy Halloween César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. The US economy grew faster than expected in the third quarter and price pressures proved sticky in September, putting the spotlight on a Federal Reserve meeting this week for fresh guidance on policy rates.…

Ebury analyzes the situation Roman Ziruk, Matthew Ryan, CFA As was widely expected, the ECB kept rates unchanged at its October meeting, pausing after ten consecutive interest rate increases. The meeting did not bring a lot of additional context, and traders largely shrugged it off…

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.…