Sep 23, 2020

Never in the last ten years were we able to report such a big increase in wealth: Worldwide, gross financial assets[1] grew by 9.7% in 2019, clocking the strongest growth since 2005.

Sep 22, 2020

After its peak on 20 March 2020, the USD has depreciated 10% against the EUR (1.174 as of 21 September 2020), going back to levels last seen in mid-2018. This rapid depreciation has raised many questions about the future of the dollar.

Sep 18, 2020

In response to the Covid-19 crisis, the debt-to-GDP ratio in advanced economies will rise to an all-time high of 130% of GDP this year. At the same time, long-term interest rates are at an all-time low.

Sep 18, 2020

To boost growth after the Covid-19 fallout, Germany and France have introduced large stimulus packages which in terms of magnitude are playing in the same league. Digging below the surface however unveils deeply diverging approaches to boost the recovery.

Sep 17, 2020

At its meeting on 16 September, the last before the election, the U.S. Federal Reserve confirmed our expectations that it will keep rates at 0% into 2023, and let inflation run higher than 2% for an extended period.

Sep 11, 2020

A back-to-school tech-led sell-off. As if markets wanted to remind everyone the risks of interpreting stock market movements, major U.S. equity indices had a hard day on 03 September: the S&P 500 fell by 3.51%, the NASDAQ by 4.96% and the NASDAQ 100 by 5.23% over the day. Through this correction, markets have rekindled a long-standing question about the nature of the rally that resumed in March: Is it a bubble or not?