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The ECB enters uncharted territory
Compulsive and continuous interest rate hikes could give way to a long period of inaction.
The focus is shifting to Frankfurt
Despite persisting inflation, weaker economic conditions should prompt the ECB to adopt a cautious stance.
Neither too hot nor too cold (for now)
Recent mixed indicators are still compatible with a “soft landing” for the US economy.
Powell preaches careful austerity
Western central bankers seem prepared to sacrifice more growth to restore price stability.
Bears make a comeback in August
The continued strength of the U.S. economy is fueling a sustained “bear steepening” of the dollar yield curve.
Risks of a US recession are receding (a little)
The rebound in long-term yields is hampering the exuberant rally in equities, but it bodes well for the future.
Long-term bonds take a beating
Fitch’s surprise decision to cut US credit rating and robust indicators trigger bond market correction.
Summer torpor takes hold of the markets
Sessions come and go, but a sideways trend has prevailed since the beginning of July.
H1 2023 Financial Results
Following the successful completion of our turnaround last year, we’re pleased to share our latest financial achievements with you today.
“Time to stop tightening”, warns Mr. Market
Impatient central banks are exposing themselves to the increasingly obvious risk of overdose.
The Fed takes a break before a final encore
In Europe, the ECB maintains a restrictive course driven by stubbornly high “core” inflation.
Towards a summer interlude in the USA
US central bank prepares to stop raising interest rates and deny pivot prospects.
H1 2023 Financial Results – Profit Hike
Significant increase in profit expected for the first half of 2023.
Des arbres qui cachent des forêts
Le défaut de paiement des Etats-Unis ou le rallye de Nvidia détournent l’attention de réalités plus nuancées.
Hopes for a “Fed pivot” fade
The rebound in dollar yields once again calls for a tactical rebalancing back into safety.
Stagflation persists, markets falter
Concomitant inflation and recession risks lead to precarious stability in bond yields.
Le banche ignorano le cripto?
In che modo il sistema bancario svizzero sta accogliendo le valute digitali come Bitcoin e le stablecoin?
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.
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…
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.
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.
Banking disruption and activity resilience
Monetary authorities remain hawkish for most, but generous to private banks.
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!
Le risque systémique fait un retour fracassant
La dégradation brutale des conditions financières complique la tâche des banques centrales.
Silicon Valley Bank (SVB), a micro chaos resolved while forgetting the macro risk
The implosion of small banks in the US generates immense confusion and a flight to safety.
2022 ANNUAL REPORT & INVITATION TO 2023 AGM
ONE swiss bank SA publishes its 2022 Annual Report, announces a dividend payment and notifies of the agenda for the 2023 Annual General Meeting.
Between realism and complacency
The disconnect between equities and bonds, which have been falling for a month, is widening further.
Le retour à la lucidité crée des opportunités
La violente correction obligataire survenue en février relance un thème d’investissement majeur pour 2023.
The market is now in tune with the Fed
Bond investors have finally bought into the roadmap outlined by the US central bank.
10th Annual WealthBriefing Swiss Awards 2023
We are thrilled to have won on 9 February 2023 the award for “Best Corporate Strategy Implementation” at the 10th Annual WealthBriefing Swiss Awards 2023.
Une bonne nouvelle plombe l’ambiance
La vigueur du marché du travail américain apporte de la crédibilité à la posture austère de Jerome Powell.
H2 and full-year 2022 financial results
After a challenging year in which global financial markets experienced unprecedented turmoil, we are pleased to report that ONE swiss bank’s financial turnaround is now complete.
The menu promises to be copious and digestible
Central banks have signalled their immediate plans, but the dessert is still a surprise.
La Fed est en phase d’approche
Le succès de la manœuvre d’atterrissage reste incertain, les risques de récession sont élevés.
From pause to pivot, a bumpy road
Current investors’ exuberance tends to justify opportunistic and tactical profit taking.
L’ère des vaches maigres est-elle révolue?
La correction inédite des obligations en 2022 implique des perspectives plus favorables pour 2023.
Bye Bye 2022
From all of us at ONE, Happy Holidays and the very best for the festive season! See you in 2023!
#TakeCareOfYourLovedONEs
La parole à Jerome Powell et ses collègues
Le FOMC pourrait chercher à contrer les espoirs de «pivot» qui alimentent le rebond des actifs risqués.
Wall Street may have attention deficit disorder
Investors’ biased interpretation of Jerome Powell’s latest speech implies serious setback risks.
Une inversion vertigineuse et contagieuse
Les rendements à long terme continuent à fléchir sous le poids de risques de récession en Occident.
Jusqu’à ce que récession s’en suive?
Le récent repli des prix de l’énergie, notamment du pétrole brut, pourrait faciliter la tâche des autorités monétaires et renforcer l’ancrage des anticipations d’inflation.
Un «bon» chiffre ne fait pas le printemps
Comme en juillet, la décrue de l’inflation aux Etats-Unis suscite une réaction exubérante, probablement excessive.
RSI TV: Crollo di FTX, domande sul futuro delle criptovalute
Il crollo di FTX non rimette in questione i progetti come quello di Lugano, che ambisce a diventare un polo europeo della moneta virtuale.
Alex Kuhn: “«Le troisième tiers cotisant va devenir de plus en plus déterminant pour les caisses de pension”
Dynagest by ONE: 30 ans à se concentrer sur la gestion des risques de marchés pour des investisseurs institutionnels. Alexandre Kuhn, l’un de ses fondateurs, revient sur cette belle aventure promise encore à quelques prolongements.
AGEFI: ONE swiss bank grandit et se prépare à déménager dans un nouveau bâtiment
La banque privée, établie depuis 2013 au Campus biotech à Sécheron, s’apprête à déménager dans les locaux de l’ancien siège social de Médecins sans frontières, sur la rue de Lausanne.
Fed, ECB: mission not accomplished
Despite some comforting signals, it is futile to hope for a quick reversal by central banks.
Vers un changement de posologie de la Fed
La cadence frénétique du cycle monétaire conduit par la Réserve fédérale n’est pas soutenable.
Vers des taux US à 5%?
Les banquiers centraux demeurent sous pression face à une inflation persistante.
SUSTAINABILITY REPORT 2022
ONE swiss bank today published its first Sustainability Report.
Attention aux risques d’overdose
La solidité persistante du marché du travail aux Etats-Unis pourrait conduire la Réserve fédérale américaine à se montrer trop restrictive.