Top News | Jul 3, 2015

Elevated volatility in Asia

The Shanghai Composite Index experienced a nervous trading this morning with losses in the first trading hours of up to -7%. These could partially be erased in the later session. The one-day earlier release of the US labor market report (due to the national holiday tomorrow) showed continued solid US employment growth. In the Greek drama, the government in Athens aims to reach a new debt deal after Sunday’s referendum. Meanwhile, Greek finance minister Varoufakis said he would resign if the Greek vote endorses austerity.

Asset Allocation Strategy Q3/2015

Economic outlook - still on shaky ground

Overall our tactical asset allocation for Q3 sees the global economy to remain on course, with structural imbalances and geopolitical issues denting its progress. Up to now inflation potential is kept in check by overcapacity, high debt burdens and low commodities prices. Click "read more" to get detailed insights into our market view.