The 6-month rally in equity markets is likely to lose momentum or even reverse if recessionary risks materialise later in 2023. Corporate earnings are likely to remain under pressure in an environment still hampered by low growth and persistent inflation. Lifted by a six month rally, current valuation s are not very attractive and do not fully reflect recession and financial instability risks. A defensive bias remains appropriate.
Macro Hopes for a “Fed pivot” fade
The rebound in dollar yields once again calls for a tactical rebalancing back into safety.
Macro Stagflation persists, markets falter
Concomitant inflation and recession risks lead to precarious stability in bond yields.
Crypto Le banche ignorano le cripto?
In che modo il sistema bancario svizzero sta accogliendo le valute digitali come Bitcoin e le stablecoin?
Macro Relever les taux en mai et s’en aller?
Alors que la Fed semble s’acheminer vers une pause, la BCE est vouée à maintenir un cap restrictif.
Corporate A commitment mentality at ONE
Grégoire Pennone: “I believe the recipe for success is a blend of strategy and mindset. The first step in crafting an appropriate strategy is…
Investment Q2 2023 strategic insights 💡
The 6-month rally in equity markets is likely to lose momentum or even reverse if recessionary risks materialise later in 2023. Lifted by a six month rally, current valuation s are not very attractive and do not fully reflect recession and financial instability risks.
Macro A return to calm, but not to normal
The Federal Reserve’s bold action helped contain the regional banking crisis, but not to cure it.
Macro Banking disruption and activity resilience
Monetary authorities remain hawkish for most, but generous to private banks.
Corporate We have moved to our new offices in Geneva!
[#ONEnews] We are delighted to share with you some images of our new offices in which we have moved this week!
Macro Le risque systémique fait un retour fracassant
La dégradation brutale des conditions financières complique la tâche des banques centrales.
