Asset class insights

Commentary on the latest equity market developments, possible determinants going forward and our view concerning U.S. and German equity markets. Plus a short update on Q4 2024 earnings season that is getting into full swing.

In this report, we provide an overview of corporate earnings for the September quarter 2024, explain the reasons for the recent FPI outflows and dive into market valuations. We conclude by analysing high frequency data to gauge growth prospects.

In this CIO Viewpoint Equity, we evaluate China's recent monetary and fiscal stimulus announcements.

In this CIO Viewpoint Equity we comment on the latest equity market developments, elaborate on our new September 2025 equity index targets and share our view on how the relative performance of Cyclicals vs. Defensives might evolve from here.

In this CIO Viewpoint, we discuss the recent macro-economic developments, policy action in China and provide our view on Chinese equities.

In this report, we look at the key drivers of the fundamental rerating of Japanese equities. We also evaluate the short-term outlook based on BoJ and market uncertainties.

Central banks have successfully brought down inflation rates close to target levels and pivoted monetary policy towards a rate cut cycle. We discuss the factors currently driving bond markets and present our view on bond asset classes.

While inflation rates in the U.S. and Europe are approaching the targets of the respective central banks and thus increasing the scope for interest rate cuts, recent political developments have also influenced bond market prices.

In this CIO Viewpoint Fixed Income – Bond markets in line with fundamentals – we discuss current conditions on bond markets as well as the short- to medium-term outlook.

After years of extremely low interest rates, the investment universe is now complete again thanks to the renewed attractiveness of bonds as an asset class – and is likely to remain so for the foreseeable future in our opinion.

We explore anticipated central bank policy moves, their potential impact on currency pair volatility, the outlook for the next twelve months and the possible developments in currencies that investors should take into account in their investment decision-making.

While the year began with the market expecting 6-7 interest rate cuts this year from the ECB and the Fed, so far there has only been one interest rate cut by the ECB. As the Fed has not yet made any cuts at all to date this has provided a tailwind for the USD.

In this CIO Viewpoint we talk about three commodities: gold, oil and lithium, which investors should take into account in their portfolio decision-making.

In this CIO Viewpoint Commodity, the three Gs driving metals, we provide a deep-dive and expand into the individual dynamics of iron ore, copper, platinum, silver and gold. Learn more.

In this CIO Viewpoint Commodities, we explain why we see further upside potential for gold in the medium term. Browse for complete information today.

In the latest PERSPECTIVES Viewpoint Commodities – Gold & silver in demand, oil price range seems limited, we discuss gold, silver and oil and examine the causes of past price movements. We also address the factors to look out for regarding these commodities and the opportunities we still see for investors in each case.

In this PERSPECTIVES Special we look at both the prospects for tariffs implementation and their possible impact on U.S. and European equities.

In this PERSPECTIVES Special we will look for how any potential end to Russia’s invasion of Ukraine might impact financial markets.

On January 20, DeepSeek, an AI spin-off from a local Chinese hedge fund, launched a free AI assistant app. By yesterday, it had overtaken other well-known AI assistants in the number of smartphone app downloads. With its growing traction, the underlying details of its development gained attention as well.

In this PERSPECTIVES Special we examine the reasons behind the UK assets’ bumpy start to the year. Issues covered include the re-pricing of global interest rate expectations, vulnerabilities from the UK’s “twin deficit”, the fiscal outlook, Bank of England policy options and the outlook for sterling, UK bonds and UK equities.

In this CIO Special report, we discuss details of the fiscal package announced by the National People’s Congress’ Standing Committee meeting and provide an update on the macroeconomic performance of the Chinese economy.

As we inch closer to the U.S. presidential election, our new CIO Special explores the current state of the political landscape, key issues and policies that continue to shape the narrative for the race and its potential impact on a range of sectors for equity investors.