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The German economy confirms its resilience

The impact of Friday’s German Ifo business climate index release on financial markets is likely to remain limited as investors’ attention remains focused on the European periphery fiscal accounts. As a result, the Bund safe-haven status is likely to remain attractive while European periphery sovereigns and equities are likely to remain in their current middle […]

United States: strong manufacturing output in the first quarter (q-o-q ), but weak in March (m-o-m)

Industrial production was flat m-o-m in March, below consensus estimates (+0.3%). However, January’s reading was revised up from +0.5% to +0.7%. While growth in manufacturing production was clearly weak m-o-m in March, it was very robust q-o-q in Q1. Market perception will probably tend to focus on the most recent monthly data, while from an […]

United States: healthy retail sales in the first quarter

Today’s figures show that retail sales increased by a strong 8.0% q-o-q annualised in the first quarter, following a 7.8% rise in Q4. With much higher than expected headlines figures, but slightly weaker than expected core numbers, today’s set of data should be considered as modestly bullish for risky assets. As far as we are concerned, […]

Inflation slowing in Brazil and China

Here are this month’s headline news from around the world. Find more analysis and views in this month’s Perspectives, available for online reading and downloading. Inflation slowing in Brazil and China Inflation rates have been coming down in several emerging nations, allowing monetary and political authorities to implement further measures geared towards supporting economic growth. […]

The Entrepreneurs episode 26: a two-wheeled revolution, Sydney gastronomy and boutique beer brewing

Pictet Wealth Management is the proud sponsor of The Entrepreneurs, Monocle‘s weekly business briefing featuring the most inspiring people, places and ideas from around the world. We invite you to take this week’s show with you for the week-end! We start off this week’s episode in Lisbon to meet the cycling aficionados behind a two-wheeled […]

Financial markets in a quandary

On the one side, central banks in the developed world have continued to be highly accommodating, fuelling hopes of an economic recovery in the making and, by extension, encouraging greater risk-taking on financial markets. On the other side, the widespread deleveraging, which is deflationary by nature, is ongoing in both the US and Europe. Find […]

The reason why European banks underperform U.S. banks

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.

Financial markets cannot decide

Reflation or deflation? Virtuous economic recovery or downward spiral? Perceptions of prospects have swung back and forth over the past month. Judging by shifts in regime as regards correlations between asset classes, financial markets clearly cannot come to any hard and fast conclusions. Find more analysis and views in this month’s Perspectives, available for online […]

Bond markets in the firing-line

Here are the key figures for April 2012, taken from the latest edition of Perspectives. Find more analysis and views in this month’s edition, available for online reading and downloading. 10-year US Treasury bond yields spiked suddenly from just under 2% in early March to almost 2.4% by 19 March before drifting back to 2.2%. […]

The US housing sector: when is it really going to turn upwards again?

Construction and the housing market remain conspicuous by their absence among those sectors of a US economy that has been recovering now for almost three years. Some timid signs of improvement have been detected, but that is all they are – timid. Fundamentally speaking, damaging fallout from the housing and financial market crashes is still […]

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