Wealth presents possibilities. Dedication discerns opportunities.

In this PERSPECTIVES Viewpoint FX, we analyse the factors expected to influence exchange rates in the coming months. We also provide our 12-month outlook for the USD and some other currencies.

The Private Bank’s Chief Investment Officer for the Americas, Deepak Puri, says US earnings season got started with some strong results from big banks, but markets have also been focused on emerging risks for some regional banks. Bond markets meanwhile have been coming under some stress in the high-yield space, and US inflation figures are expected at the end of the week. Listen to learn more.

The 21st US government shutdown since 1976 is now underway. Deepak Puri, Chief Investment Officer for the Americas, discusses how this shutdown may play out and why it could have longer-lasting consequences.

How far will the next market drop be? Uncertainty is possibly the only real constant in financial markets. In this report we compare and contrast the advantages and challenges of buying an asset when its value dips with those of holding the same asset and hedging it against large losses.

In this PERSPECTIVES report, we examine the recent outperformance of China’s onshore equities (A-shares) relative to offshore equities (H-shares), explore the key drivers behind the A-share rally, and assess its sustainability.

Published following our quarterly CIO Day, this outlook provides a summary update of our economic and asset class views for the year ahead.

This PERSPECTIVES Special explores the nuances behind the numbers, showing that ESG performance depends heavily on how it's defined, implemented and measured. Read for more details today.

We examine how structural shifts in these indices, attractive valuations, and projected double-digit earnings growth position German stocks for continued outperformance. We also explore the implications of sectoral rotation, international capital flows and Germany’s evolving industrial strategy for equity investors.

Italy’s economy has convincingly weathered the events of recent years and is now a relatively strong performer in a European context. This new PERSPECTIVES Special report considers the implications for the country’s future development and financial markets.

Commodity prices followed divergent paths in the first half of 2025. In this PERSPECTIVES Viewpoint Commodities, we explain recent price moves and discuss our outlook for key commodities over the next 12 months.