The valuation of European banks and U.S. banks have varied greatly over the last 3 years. Recently, European banks have greatly underperformed their U.S. counterparts. Alexandre Tavazzi, head of advisory at Pictet, explains in this video how the central bank responses to the financial crisis have impacted the recent trading activity.
The economic environment from developed countries changed radically in 2008, shifting from the Great Moderation with stable public debt and growing economies to the Great Divergence where public debt and economic growth pull in different directions. Christophe Donay explains the reasons behind this shift and the impact for investors on their asset allocation.
In a context of low interest rates, does it still make sense to hold bonds in portfolios? In the following video, Yves Bonzon, our Chief Investment Officer, addresses this issue by looking at employment, jobless claims and the returns of bonds vs. equities over the last 30 years.