June 2024

‘SMID’ is beautiful… despite France Laurent Denize, Global Co-CIO, ODDO BHF AM. "It is time to re-invest in the Small and Mid-Caps segment with a preference for Mid over Small. EPS growth momentum is better for pretty similar valuation discounts. " Europe faces significant structural…

Macron’s gamble César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management. The week in review US equity indexes rose last week, with the S&P 500 up 1.6% and the Nasdaq up 3.3% (both indexes in USD). Some prominent tech-related names were at the forefront of gains, while…

Take advantage of the turmoil in the bond markets to build a position. Since the results of the European elections in France showed a massive victory for the far-right, and the subsequent announcement by President Emmanuel Macron of the dissolution of the French National Assembly,…

Please find below a comment from Michael Hart, Senior FX Strategist at Pictet Wealth Management, on the Bank of Japan. At today’s meeting, the BoJ decided to leave rates unchanged at 0-0.1% (as expected) and to cut the size of its bond purchases. This was…

Please find below Xiao Cui’s, Senior Economist at Pictet Wealth Management from the FOMC meeting. The FOMC left rates unchanged and is in no hurry to cut. Interest rate projections moved up to show just one rate cut in 2024 (down from 3), fewer than our expectation of two.…

The historic tightness of credit spreads and the delay in US rate cuts is impacting the relative attractiveness of US investment-grade credits. Lauréline Renaud-Chatelain, Fixed-income strategist, Pictet Wealth Management. After months of tightening, credit spreads look tight compared to their historical ranges, especially for US…