Author Archive

Uncertainty mounts over Mexico’s direction

Carlos Urzúa, the Mexican Finance Minister, unexpectedly quit on Tuesday. His resignation, announced in a letter in which he set out the “many” disputes he had had with the administration of president Andrés Manuel López Obrador (AMLO), is meaningful from several standpoints. A respected official, Urzúa was seen by financial markets as a moderate, whose […]

House View, July 2019

Asset allocation Although the US-China ‘trade truce’ and dovish central banks are giving a short-term fillip to equities, our analysis suggests that expansion of valuations from here is limited, making us globally cautious on equities. But we see opportunities in high-quality stocks in individual sectors We remain underweight government bonds given low yields, except US […]

House View, June 2019

Asset allocation We have turned tactically underweight on global equities, including US equities, given elevated valuations, mixed economic data and rising trade tensions. We remain neutral on euro area equities, where valuations are generally more reasonable than in the US. We have also moved from an overweight to neutral stance on Asian emerging-market equities. At […]

Swiss start-up grows diamonds of exceptional purity

Physicist Pascal Gallo co-founded a company in partnership with Lausanne’s Federal Institute of Technology to create ultra-pure lab-grown diamonds for demanding high-tech applications, longer lasting watches and high-quality jewellery The reason for developing the lab-grown diamonds was a search for ultra-pure stones that could enhance the power of energy trans­mission using lasers. Diamonds have extraordinary […]

A premium mode of transport for urban commuters

Technological innovations offer a Swiss solution to modern traffic problems in the form of a powerful e-bike capable of long-distance, high-speed urban commuting with full connectivity modelled on global brands such as Tesla Switzerland may not feature on lists of the world’s leading carmakers, but it is home to the manufacturer of a state-of-the-art form […]

House View, May 2019

Asset Allocation There were no changes to our asset allocation in April. While we are encouraged by better-than-expected Q1 earnings and some improvement in earnings expectations, we remain neutral on global equities as we await new catalysts to justify current valuations. At the same time, we have a positive view of Chinese and Indian equities. […]

The year of the doves

With all major central banks now having turned dovish, we can expect the continuation of ultra-low global interest rates in 2019. This is a relief for markets, which have already rallied in response. The greater concern is whether global growth can make a comeback. César Pérez Ruiz, Pictet Wealth Management’s (PWM) Head of Investments & […]

House View, April 2019

Asset Allocation Although we expect the economic picture to brighten and the decline in earnings expectations to end, we have a prudent stance on global equities, as expressed in our decision to book some profits on global equities and to invest in put options on large-cap European and small-cap US equities. At the same time, […]

Promoting Family Businesses

2019  Global Family Business Award – The nomination process is open Pictet joined forces with IMD and is now proud to sponsor the 2019 IMD Global Family Business Award, a prestigious annual prize presented to a company that successfully combines family and business interests, tradition and innovation, while at the same time fully assuming its […]

House View, March 2019

Asset Allocation At current valuations, we remain prudent about global equities’ further potential, waiting for further clarity on economic and corporate growth before moving from our present neutral stance. At the same time, we remain confident that the central banks will continue to support markets. In Europe, fiscal policy is expected to give a marginal […]

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