NOTES FROM AROUND THE WORLD

Equities

Equities will likely benefit from further gains in corporate earnings, but stretched price/earnings valuations could contract in most major markets.

Continue

Larry V. Adam
CIO Americas & Global Chief Strategist

Fixed income

We see a slow grind higher in sovereign yields, with the yield curve flattening from current levels. Credit spreads offer little room for spread compression.

Continue

Christian Nolting
Global Chief Investment Officer (CIO)

Commodities

Oil prices remain at high levels but further sustained gains look unlikely. The global economic environment will likely not help gold prices.

Continue

Markus Müller
Global Head
CIO Office

FX

Recent negative pressures on the USD could ease due to growth and interest rate differentials, as well as positioning. But the JPY could weaken slightly.

Continue

Stéphane Junod
CIO EMEA


In EMEA and APAC this publication is to be considered Marketing Material. Past performance is not indicative of future performance. All opinions and claims are based upon data at the time of publication and may not come to pass. This information is subject to change at any time, based upon economic, market and other considerations and should not be construed as a recommendation. No assurance can be given that any forecast or target will be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analysis which may prove to be incorrect.