Perspectives

The era of economic slowbalisation

Sisyphus was punished by the gods by having to repeatedly roll a boulder up a hill after it rolled back down each time he reached the summit. Today, markets are subjecting the world’s central bankers to the same punishment. According to César Pérez Ruiz, PWM’s Head of Investments & CIO, “each time central banks attempt […]

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 & […]

“The Three Amigos”

After a difficult year for markets in 2018, with very few asset classes posting positive returns, we anticipate that 2019 will be a year when the “three amigos”— consisting of a bear, a bull and a kangaroo—stake out their territory in financial markets. In other words, we expect plenty of ups and downs—but also think […]

Unravelling knotty issues

As the recent upsurge in volatility shows, the outlook for risk assets is becoming more uncertain than ever. Trade wars, doubts about economic and corporate growth prospects, big fluctuations in oil prices and the winding down of expansionary monetary policies, not to mention gathering political and geopolitical tensions, have all contributed to market wobbles since […]

Trade Tensions Special

Fresh US tariffs against Chinese imports, followed swiftly by Chinese retaliation, are casting a shadow over prospects for the global economy. But just how much could they hurt growth? And what are the implications for various asset classes and for investors? In this special edition of Perspectives, experts at Pictet Wealth Management (PWM) set out […]

What will the rest of the year bring?

After a relatively subdued first half for risk assets, the outlook for the rest of 2018 looks complicated, but not without hope. Global equities were trendless and the overall performance of risk assets lacklustre in the first half of 2018. But while trade tensions have been causing jitters and could continue to do so in […]

A modified approach for a low-return environment

Our annual Horizon publication contains Pictet Wealth Management’s analysis of expected returns over a 10-year horizon. Simply put, major asset classes are expected to deliver lower returns. But alternatives offer greater potential — in exchange for a degree of illiquidity. This abridged edition of Horizon sets out our rationale behind our expected returns forecasts relative […]

Horizon special

The latest issue of Perspectives is a special edition devoted to Pictet Wealth Management’s (PWM) analysis of expected returns across 35 asset classes over a 10-year investment horizon, as well as the secular economic and market trends that will underpin those returns. This special edition resumes the more detailed analysis contained in our annual publication, […]

A period of transition

The early weeks of 2018 were full of twists for financial markets, with a rapid rise in bond yields leading to a short, sharp sell-off in equities. And while volatility subsequently fell back, it has still not returned to the low levels of 2017. What is going on? According to Christophe Donay, Head of Asset […]

After an exceptional year…

2017 was an exceptional vintage for risk assets that will be hard to repeat this year. But the environment could become increasingly favourable for active management as challenges rise and volatility increases. This is one of the main messages from Pictet Wealth Management (PWM) analysts and strategists featured in the 2018 special edition of Perspectives. […]

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