Market Videos

Stock markets displayed resilience midweek, with US equities closing moderately higher after early jitters over speculation regarding Federal Reserve Chair Jerome Powell’s position were dismissed. Asian stocks followed Wall Street higher on Thursday, trading in positive territory despite weaker...

US Treasury yields climbed sharply on Tuesday following the release of June inflation data, which revealed the highest annual rate since February. While core inflation remained relatively stable, the figures reignited concerns about the Federal Reserve's policy path. US equity markets closed...

Global markets started the week on a cautious note as investors focused on the start of the second-quarter earnings season, with major US banks set to report on Tuesday. Asian equities traded mostly higher on Tuesday, buoyed by stronger-than-expected gross domestic product (GDP) data from...

Global markets are reacting cautiously after the US announced a 30%-tariff on goods from the European Union and Mexico, set to take effect on 1 August. While Asian equities traded mostly higher on Monday, supported by stronger-than-expected Chinese export data, futures data suggests European...

The S&P 500 climbed to a new record on Thursday, while European markets ended the day mixed, with the Euro Stoxx 50 edging lower. Asian equities were also trading mixed on Friday, with Chinese stocks advancing on stimulus hopes. Markets were largely ignoring ongoing US tariff disputes, even as...

US stock markets closed higher on Wednesday as Nvidia briefly became the first company to reach a USD 4 trillion market valuation, confirming continued strong demand for hardware used by artificial intelligence applications. The rally in Nvidia shares also lifted sentiment in Asia, where...

Asia-Pacific markets traded mixed on Wednesday following US President Donald Trump's decision to rule out extending the 1 August deadline, the newest extended date on which tariffs are set to take effect. Trump also announced a 50% tariff on copper imports and threatened sector-specific...

The Reserve Bank of Australia (RBA) surprised markets on Tuesday by keeping its policy rate steady at 3.85%, citing the need for further inflation data. Meanwhile, US President Donald Trump’s announcement of steep tariffs on imports from 14 countries weighed on global sentiment, dragging US...

Global markets are on edge as the 90-day pause on US tariffs, initiated by US President Donald Trump, expires this week. Meanwhile, Trump signed the tax and spending bill known as the "Big Beautiful Bill," at the White House on Friday. The legislation extends tax cuts from his first term...

US stock markets soared to record highs on Thursday after stronger-than-expected labour market data highlighted the resilience of the US economy. Nonfarm payrolls exceeded forecasts, and the unemployment rate fell to its lowest level since February. The S&P 500 and Nasdaq-100 both reached new...

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...

As 2025 begins, the global economy stands on relatively solid ground, though growth remains uneven across regions. We witness an economic landscape heavily influenced by persistent inflation and stringent monetary policies. The re-election of Donald Trump introduces both opportunities and...

We maintain our pro-cyclical stance in the run-up to 2025 and leave our tactical positioning unchanged. Our economic forecast remains steady, but the incoming Trump administration introduces an element of uncertainty. We favour US equities for earnings growth and see catch-up potential in...

"Trumponomics 2.0" has been the dominant theme in capital markets since Trump’s election victory. In his second term, the administration is likely to focus on tax cuts, spending cuts and trade protectionism. In the short term, these measures could boost investment, consumption and the labour...

We maintain our risk-on positioning and confirm our tactical "Overweight" in global equity, with a focus on US equity markets. However, given the uncertainty surrounding the US elections, we reduce the magnitude of the US equity "Overweight". In fixed income, we increase the duration of US...

The US economy remains stable with solid consumption, and the Federal Reserve has begun a rate-cutting cycle to support growth. While we maintain our US equities "Overweight", we introduce an "Underweight" in Japanese equities. Fixed income stays "Underweight", but we see value in government...

Central bank chair is a tough job at the best of times. Jerome Powell’s Fed will be remembered as the Fed that left rates at record lows for too long when inflation raged, and subsequently tried to engineer a post-Covid soft landing (quite successfully for most of the normalisation phase). This...

After four of the "Magnificent Seven" - Tesla, Microsoft, Meta Platforms and Apple - presented their quarterly figures last week, it is a good time for an initial assessment of the Q4 2024 reporting season. The preliminary conclusion is that the usual game is working again this quarter: after...

The Bank of Japan (BoJ) recently raised its policy rate for the first time since last summer, resuming a gradual withdrawal of its long-standing monetary stimulus. Although the announcement was accompanied by relatively dovish guidance, we interpret the central bank’s stance as leaning more...

As the world watches the transition of power in the United States and worries about import tariffs, Europe faces its own political changes. Germany heads to the polls on 23 February after its coalition government collapsed in November 2024. This election could be crucial for the country's economy.

Just before Christmas, Google caused a stir when the company unveiled a quantum computer with the new "Willow" chip and demonstrated its superiority over conventional computers. In less than five minutes, it performed a calculation that would take one of the fastest supercomputers ten...

25 or 50 basis points is the critical question on the mind of Martin Schlegel, the new president of the Swiss National Bank (SNB). The fact that another SNB rate cut is coming on 12 December is a near certainty: the Swiss economy is growing at a sluggish but stable pace, unemployment is rising...

The international community could only reach a minimal consensus at the 29th UN Climate Change Conference in Baku. The results fall far short of expectations. While the world is heading for the hottest year on record and is likely to exceed the 1.5°C limit, progress on much-needed climate...

The third quarter earnings season is winding down. Here's a summary of the key takeaways.

In a week, the citizens of the USA will once again decide who will lead the country for the next four years. After President Joe Biden announced his withdrawal as the Democratic candidate in July, Kamala Harris brought new momentum to the race for the White House. With her, a woman could hold...

Polls on the US election continue to show a close race. What consequences would a Trump or Harris victory have for the global economy? Donald Trump's proposed tariff policy aims to strengthen American manufacturing by imposing high import tariffs, particularly on Chinese goods, which could...