Market view How we see the markets

US private payrolls unexpectedly declined in November, underscoring signs of cooling in the labour market just a week before the Federal Reserve’s (Fed) next policy decision. US equities extended their recovery on Wednesday, with major indices inching higher as investors maintained strong...

US equities rebounded on Tuesday after a weak start to December, led by technology stocks, while expectations for an interest rate cut by the Federal Reserve (Fed) next week pushed cryptocurrencies sharply higher and nudged US Treasury yields lower. Asian stock markets were mixed on Wednesday...

US equities started December on the back foot on Monday as weaker US manufacturing data weighed on sentiment and traders looked ahead to next week’s Federal Reserve (Fed) interest rate decision, where markets are increasingly expecting another rate cut. The downbeat tone on Wall Street, which...

A surprise contraction in China’s private manufacturing Purchasing Managers' Index (PMI) highlighted persistent weakness in the world’s second-largest economy at the start of the week, even as mainland Chinese and Hong Kong equities posted modest gains. Most other Asian stock markets were down...

Inflation data out of Tokyo remained well above the Bank of Japan’s (BOJ) target in November, reinforcing expectations that the central bank could resume its tightening cycle in the coming months and leaving Japanese equities slightly weaker to end the week. Asian stock markets traded mostly...

Global equities advanced midweek, buoyed by rising hopes for a Federal Reserve (Fed) rate cut in December and strong gains in technology shares. Disappointing Chinese industrial data and renewed property sector concerns weighed on Chinese stocks. European shares rallied on optimism over Ukraine...

Equity markets advanced midweek after softer US consumer confidence and retail sales data reinforced expectations for a Federal Reserve (Fed) rate cut in December. Major US indices closed higher on Tuesday, led by gains in Alphabet and Meta Platforms. In Asia, technology shares spurred a rally...

Technology shares continued to drive market gains at the start of the week, as rising expectations for a December US rate cut and renewed confidence in artificial intelligence boosted sentiment globally. US tech stocks rallied strongly on Monday, fuelled by enthusiasm for Alphabet’s latest AI...

Global equity markets began the new week with a rebound, with Asian stocks advancing. US indices recovered sharply on Friday, closing out a challenging week for investors. Renewed expectations for a US Federal Reserve rate cut and bargain buying helped lift sentiment, with Wall Street rallying...

Initial excitement around Nvidia’s strong results evaporated on Thursday, sending US tech shares sharply lower and dragging major indices into the red, while robust US labour market data did little to lift sentiment. The sell-off triggered a steep decline across Asian equity markets on Friday...

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.

Market sentiment remains characterised by a high level of uncertainty. As investors try to grasp the latest moves in the trade conflict, the global economic outlook is deteriorating. Tensions surrounding US President Trump’s ongoing trade war are translating into slowing growth and weakening...

The trade conflict triggered by US President Donald Trump remains a significant risk for investors, as clearly reflected in market volatility. In particular, the relationship between the US and China, the world’s largest economies, is likely to remain extremely fragile.

As we navigate the first quarter of 2025, the global economy is experiencing significant shifts, increasingly questioning fundamental beliefs that have held true for years. The resilience seen in 2024 has given way to a more complex landscape: The erratic US policies, a chaotic trade war...

Growing uncertainties and an unsettled global economy are shaping our current investment strategies. In particular, the rather erratic US trade policy of the new Trump administration is having a significant impact on the global economy, leading to unpredictable economic outcomes and a stronger...