François Christen
Chief Economist
Ongoing Covid 19 outbreaks (still met with harsh restrictions in China), dreadful geopolitical tensions, continuous reassessment of recession risks make if difficult to navigate highly volatile financial markets. In these troubled circumstances, investors should avoid emotional reactions to abrupt market gyrations and focus on fundamentals and long term potential of financial assets.
Macro After three misses, the Fed has a problem
Evidence of persistent inflationary pressures in the US is pushing government bond yields higher.
Per saperne di più →
Corporate 
Macro The monetary hawk, an endangered species
Increasing central bank dovishness pushed US and European government bond yields lower.
Per saperne di più →
Macro “Higher for longer”, the sequel
Recent events are likely to confirm the FOMC's wait-and-see stance, which is not without its dangers.
Per saperne di più →
Macro Will two doves make a summer?
Friendly comments by Jerome Powell and Christine Lagarde foreshadow first interest rate cuts in June.
Per saperne di più →
Macro Wall Street peaks, but the economy falters
Recent, but not yet conclusive, indicators point to a deterioration in the US economy.
Per saperne di più →
Macro The Fed and the ECB are in no hurry
The US central bank's patience is fully justified, but the ECB's wait-and-see attitude is questionable.
Per saperne di più →
Macro Renewed realism and healthy correction
Investors have reassessed the prospects for interest rate cuts amid sticky US “core” inflation.
Per saperne di più →
Corporate H2 and Full-Year 2023 Financial Results
2023 was another successful year for ONE swiss bank SA, brimming with achievements and culminating in healthy financial results.
Per saperne di più →
Macro The Fed’s pivot? Not before May 1st
Powell's comments and the strength of the US economy invite investors to be patient.
Per saperne di più →
