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Flash Note – Euro area macro update – HICP inflation

HICP inflation: an expected pick up in December  Nadia Gharbi, Senior Economist Pictet Wealth Management. Eurostat's flash estimate showed that euro area headline inflation rebounded to 2.9% y-o-y in December from 2.4% the previous month, in line with expectations. Core inflation eased to 3.4% in December from…
LFI
08 January 2024
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Italian and Spanish sovereign bonds : 2024 outlook

Spreads to remain range bound. Nadia Gharbi, Senior economist, Lauréline Renaud-Chatelain, Fixed-income strategist, Milène Dumont, Strategist Pictet Wealth Management. Growth in euro zone periphery countries has been relatively resilient this year thanks to strong construction activity in Italy and a pickup in tourism, especially in…
LFI
26 December 2023
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Pictet Wealth Management Flash Note – Outlook 2024 on DM equities

Christmas after Christmas Jacques Henry, Head of Equities at Pictet Wealth Management. Our forecast is for low- to mid-single digit growth in developed-market stocks’ revenues in 2024 as nominal GDP growth is expected to remain positive. Margins are expected to remain fairly resilient as long…
LFI
26 December 2023
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The Fed pivots, its peers hold back

After ratcheting up interest rates over the last two years, the US Federal Reserve used its 13 December meeting to open the door to rate cuts next year – a move its peers will ultimately follow, but not just yet. Nadia Gharbi, Senior economist, Xiao…
LFI
26 December 2023
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Emerging-market currencies : 2024 outlook

Our view that the global recovery will gradually recover in the second half of 2024 and the chance that the US dollar weakens make us cautiously optimistic on select EM currencies. Luc Luyet, Currencies strategist, Pictet Wealth Management. The external backdrop, such as trends in…
LFI
26 December 2023
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Equity volatility: 2024 outlook

Volatility could rise to a medium-to-high range in the second half. Djâafar Aballeche, Senior Cross-Asset Specialist Pictet Wealth Management. Stock market volatility in 2023 has trended downwards, although with fluctuations throughout the year. The VIX index surged in the first quarter but declined rapidly thereafter.…
LFI
26 December 2023
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Monthly investment brief

The “60/40” strategy is back Laurent Denize, Global Co-CIO, ODDO BHF AM. " Regardless of the region or the economic cycle, the aim is to identify sectors and, within those sectors, companies capable of creating long-term value" . A new era The 2022/2023 period has…
LFI
26 December 2023
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Weekly View: Steering towards rate cuts

Rates higher for longer ... but not forever César Pérez Ruiz, Chief Investment Officer Pictet Wealth Management. The US Federal Reserve surprised markets last week with a remarkable policy pivot, signalling that it had started discussing interest rate cuts in a dovish message that lifted…
LFI
20 December 2023
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Outlook 2024 on oil

Jean-Pierre Durante, Head of Applied Research Pictet Wealth Management. A market dominated by demand from emerging economies As the energy transition gathers pace, demand for combustible fossil fuels is expected to peak this decade. The demand for car fuel could peak soon, followed by other…
LFI
18 December 2023