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.…

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…