
No systemic risk from SVB failure, but watch out for areas o...
2023 will be a two-speed year, with plenty of risks to watch out for.
Read moreThe economic backdrop foreseen for the next 12 months suggests that the ongoing correction will continue through the first half of 2023, featuring a profits recession and still elevated (albeit moderating) inflation.
More 5 to 10 minutesThe shift to an inflationary late cycle has been confirmed with greater conviction and a focus on higher inflation (and rates). Economic momentum is still decelerating at a global level but with tentative signs of stabilisation.
More 5 to 10 minutesA second derivative stagflationary environment of decelerating growth amid sustained inflationary pressures. The fiscal lever continues to play a pivotal role.
More 5 to 10 minutesGoldilocks continues to allow a tempered risk on positioning. Longer term, growth will likely revert to potential amid a normalised inflation rate (at least in the US).
More 5 to 10 minutesContraction > recovery > late cycle: the cycle round trip is confirmed Advanced Investment Phazer: top-down assessment
More 5 to 10 minutesFind the latest edition of our Research team's monthly publication.
More > 10 minutesWhile in the short term we do expect some temporary relief coming from positive economic surprises and supportive news on the trade front (should coronavirus impact be limited), on a medium-term horizon our economic scenario confirms the fragility of the profit cycle.
More 5 to 10 minutesProfessional investors are Professional investors of the European Union, as defined as in European Directive 2004/39/EC dated 21 April 2004 on markets in financial instruments(MIFID) to investment services providers and any other professional of the financial industry,and as the case may be in each local regulation, and, as far as the offering in Switzerland is concerned, a Qualified Investor within the meaning of the provisions of the Swiss CollectiveInvestment Schemes Act of 23 June 2006 (CISA), the Swiss Collective Investment SchemesOrdinance of 22 November 2006 (CISO) and the FINMA’s Circular 08/8 on Public Advertising under the Collective Investment Schemes legislation of 20 November 2008
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