Market view How we see the markets

Global equity markets were buoyant to start Thursday, with Japan’s Nikkei 225 reaching a new record high and most Asian indices advancing as hopes for progress in US‑Iran peace talks supported risk appetite and oil price volatility eased. Sentiment was further underpinned by...

Global equity markets extended gains on Wednesday as signs of possible renewed talks between Washington and Tehran eased geopolitical tensions and helped push oil prices lower, even as US wholesale inflation accelerated. US equities advanced on Tuesday, led by technology stocks, with the S&P...

Global markets were pulled in different directions at the start of the week by escalating US-Iran tensions and tentative hopes for renewed diplomacy. US equities reversed early losses to close higher on Monday, with major indices in New York recovering all the ground lost since the start of the...

Energy prices surged and equity markets came under pressure at the start of the week after peace talks between the US and Iran broke down, with Washington preparing a naval blockade of Iranian ports and shipping in the Strait of Hormuz. Asian stock markets traded broadly lower on Monday as...

Asian equities traded mostly higher on Friday, buoyed by hopes for a ceasefire between Iran and the US and supported by Wall Street’s gains, even as oil prices stayed elevated following attacks on Saudi energy infrastructure. In China, markets looked through mixed inflation data, where soft...

Global markets remained focused on the uncertain ceasefire between the United States and Iran on Thursday, with oil prices rebounding after their sharpest daily drop in years as tanker traffic through the Strait of Hormuz stayed heavily disrupted. Asian equities traded mostly lower, contrasting...

Oil futures tumbled on Tuesday after US President Donald Trump ordered a pause to US airstrikes on Iran and announced a two-week, mutual ceasefire, saying Washington had already achieved its military goals and was close to a broader peace deal. Brent crude fell about 14% to around USD 94 a...

This week, markets focus on a heavy slate of US data that will shape the policy outlook, led by Thursday’s releases of GDP, corporate profits, income and spending, PCE and core PCE inflation, and jobless claims. US price and demand dynamics stay in focus on Friday with March CPI, the University...

Global financial markets have entered a phase of heightened uncertainty as Donald Trump indicated that the ongoing conflict with Iran may be nearing its conclusion, while warning of intensified military action in the short term. His remarks, delivered in a televised White House address, have...

Equity markets in the Asia-Pacific region and on Wall Street rose on hopes of a possible ceasefire in the Iran conflict. Reports suggest that US President Trump is considering winding down the war in Iran without fully reopening the Strait of Hormuz. The potential de-escalation comes after the...

Over the past weeks, the world has become more uncertain again. The conflict with Iran and the effective blockade of the Strait of Hormuz have pushed oil and gas prices sharply higher. This hits regions unevenly: while the United States is cushioned by its energy self sufficiency, Europe is...

Sometimes a few data points are enough to flip sentiment. After a tough industrial year in 2025, the mood was subdued in many aspects: supply chain shifts, tariff disputes, and concerns about an economic dip after the AI investment boom weighed on markets. Now, the latest sentiment indicators -...

At the start of 2026, the global economy is on firmer footing than many had anticipated a year ago. Recession fears have not materialised, with consumption and investment - particularly in the United States - proving resilient. Easing inflation pressures, the prospect of more supportive...

Before the year comes to an end, we would like to take the opportunity to highlight our monthly strategic assessment. In our view, economic growth is set to slow but remain positive, while inflation has likely peaked at lower than feared levels and financial conditions are still supportive.

US economic resilience reduced expectations for near-term Fed rate cuts, while the euro area reached its inflation target and Switzerland continued to face weak growth and low inflation. Global equities consolidated after recent gains, but Q3 earnings remained solid and emerging markets...

Global markets continue to impress with their resilience, defying many predictions of a sharp slowdown, even in the notorious autumn months. Consumption in the US economy - the world’s economic powerhouse - is cushioning the impact of tariffs and global uncertainties. While some cracks are...

As we enter the last quarter of 2025, investors face an economy shaped by subtle resilience and divergence rather than dramatic shifts. Headlines around trade tensions and changing global dynamics persist, but the risks of a sharp economic correction look contained, with growth adjustments...

In recent weeks, global markets have continued to test our ability to adapt and remain vigilant. While the initial shock of new tariffs and heightened political uncertainty seems to be subsiding, fresh challenges have emerged - inflationary pressures are reappearing, and economic momentum in...

The economic and geopolitical tensions of recent months have once again shown us how fragile and at the same time dynamic global markets can be. Tariffs, inflationary pressures, and central bank responses are just some of the factors keeping markets on edge. Yet, as uncertainties increase, it...

After the last few months were shaped by US tariff disruptions, driving volatility in global trade and economic growth, the latest escalation of the conflict between Israel and Iran with the direct involvement of the United States have shaken financial markets and rattled investors’ confidence.