Insights

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Central banks begin rate cuts: Impacts and Opportunities – June 2024 CIO Market Commentary

Eight central banks have already started to reduce interest rates, including the European Central Bank (ECB), which brought its deposit rate down from 4.00% to 3.75%, and the Swiss National Bank (SNB), which lowered its key rate from 1.75% to 1.50%. These actions reflect a broader global trend where central banks are adjusting their monetary policies in response to evolving economic conditions, including declining inflation, and to support economic growth.

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Mounting geopolitical risks: Which assets are in high demand? May 2024 CIO Market Commentary

Global economic growth is expected to decelerate due to the delayed effects of previous interest rate hikes. Despite this, strong consumer spending is likely to cushion against a significant economic contraction, with a preference for services over goods. Additionally, declining inflation across major economies indicates that existing monetary tightening has been effective. We anticipate reductions in interest rates and a relaxation of monetary policies by Western central banks as inflation continues to decrease.

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Economic Resilience Powers Global Markets: April 2024 CIO Market Commentary

The first quarter of 2024 concluded with a robust stock market performance globally and a sturdy economic outlook. The US economy expanded at a rate of 3.1%, while Europe’s growth stabilized at zero, signaling a cessation of its previous decline. Asia demonstrated vigorous growth at 5%, fueled by its triumvirate of economic powerhouses: China, Southeast Asia, and India.

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Expectations Propelled Higher for 2024’s Global Market Performance: March 2024 CIO Market Commentary

World growth remains solid and inflation is decreasing. The FAO Food Price Index has continued its downward trajectory, marking the seventh consecutive month of decline to reach 117.3 index points in February 2024.

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Euphoric US stock market reached new all time high – S&P 500 tops 5,000 mark: February 2024 Market Commentary

The start of the year saw economic growth steadying, suggesting a serious recession may be circumvented across key global markets, with growth maintaining a positive trajectory: the U.S. at +3.1%, Europe at a modest +0.1%, and China at +5.2%.

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Navigating Shifting Global Markets in 2024, Risks and Opportunities: January 2024 Market Commentary

We anticipate the current post-Covid economic cycle to end this year in a so-called “soft economic landing”. While volatility may be seen in stocks and currencies, we believe the equity market will eventually reflect the onset of a new bullish economic cycle commencing from 2025, particularly in response to central banks’ rate cuts in 2024.

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