NOTES FROM AROUND THE WORLD

European equities

European equities’ recent outperformance is due to stronger global economic growth, not just reduced political concerns. Higher global revenue exposure and sales leverage helps them outpace US peers.

Continue

Stéphane Junod

CIO EMEA and Head of DPM EMEA

US fixed income

We believe the eventual trajectory for long-term Treasury yields is higher. But political uncertainty, growth concerns and central bank uncertainty could keep yields range-bound in the shorter term.

Continue

Larry V. Adam

CIO Americas and Global Chief Investment Strategist

Commodities

Oil prices remain low as concerns over rising US production outweigh actual and promised OPEC cutbacks. Seasonal increases in oil consumption aren’t expected to push prices appreciably higher.

Continue

Markus Müller
Head CIO Office

FX

Risk-off sentiment could still temporarily strengthen the JPY. But continued monetary policy divergence between Japan and the US will be one factor weakening the currency over a longer-term time horizon.

Continue

Tuan Huynh

CIO APAC and Head of DPM APAC


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.