Opening Salvo on Tariffs César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management. A mixed US January job report was not seen as changing the Fed’s wait-and-see stance and did little to sway the S&P 500, which declined -0.23% on the week (in USD). Despite…

Tariffs delayed, not denied César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management. While they had to untangle a welter of pronouncements and executive orders from Donald Trump, freshly installed as US president, overall the mood remained positive on US equity markets last week. Helped by…

After a complicated 2024, the slightest positive signal could give a boost to European equity markets in 2025. Anthony Bailly, European Equities Portfolio Manager Rothschild & Co Asset Management. What to Remember from 2024 ? In European markets, 2024 was notably marked by the political…

Trade war César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management. Last week was book-ended by disruption in AI and the spectre of a tariff war. Early in the week, US indexes were briefly hit by the emergence of a new AI model in China…

US equity markets did particularly well in 2024, outperforming other regions. In 2025, the first measures taken by the Trump administration will be decisive, as they are likely to have an impact on the rest of the world. Yoann Ignatiew, General Partner, Global Equities Portfolio…

Investing in commodities has been somewhat unpopular in recent years, despite their undeniable diversification qualities (correlation 0.30 with S&P 500). Gold, at an all-time high, could be the wake-up call for other precious and industrial metals. The need for technological sovereignty, independence, and the transition…

For the time-being, US stays a non-artificial paradise. It remains our favorite choice on Equities for putting money back to work and offset (at least partially) the yield erosion Laurent Denize , Global Co-CIO ODDO BHF Asset Management. Broad diversification is rightly regarded as the…

Musk Tok César Pérez Ruiz, Chief Investment Officer, Pictet Wealth Management. While they remained on tenterhooks to discover the first concrete decisions Donald Trump takes after his presidential inauguration today, US stock markets rebounded last week. This was thanks to some relatively benign inflation and economic data…