Sound Invest One Swallow Does Not Make a Summer23 November 2022Since our last report, macroeconomic data provided additional evidence that future growth is softening and price pressure will likely level off. However, central banks are not yet talking about stopping rate hikes or even lowering interest rates. True to the saying: “One swallow doesn’t make a summer.” Read the complete editionThe Perfect Storm27 October 2022Bonds are suffering from unprecedented losses. In this issue of Sound Invest, we put this year’s bond losses in historical context and shed light on the impact of higher interest rates. Read the complete editionThe Core of the Problem21 September 2022 Despite lower energy prices, U.S. inflation increased again in August. Core inflation is also at the core of the problem, which we explore in this month’s Sound Invest issue. Read the complete editionRising Risk Appetite25 August 2022The prospect of a less aggressive monetary tightening led to an increase in risk appetite across financial markets. Is a change in trend foreseeable? Read the complete editionIs a Recession on the Horizon?28 July 2022The powerful tightening of key interest rates to bring inflation under control has triggered almost seismic changes in the markets. Weakening economic indicators increasingly point to a potential economic downturn. Read the complete editionOutlook for the Second Half of the Year30 June 2022At mid-year, global equity markets are in a bear market. Opportunities seem within reach, but require discipline and the right focus. Read the complete editionFarewell TINA24 May 2022The term TINA (“there is no alternative”) has been a key feature of financial markets for a long time. However, with the current market turmoil, yields in the bond market signal that “there is an alternative” for USD investors. Read the complete editionSentiment vs. Reality27 April 2022Sentiment vs. Reality: War, inflation, rising recession fears and a negative investor sentiment blur the outlook. Central banks continue to face increasing pressure. Read the complete editionRisk of Stagflation23 March 2022Risk of Stagflation: The war in Ukraine and a renewed lockdown in China are worsening an already tense situation of supply shortage and global inflation. While inflationary pressure is increasing, rising energy prices will have a negative impact on economic growth, particularly in Europe. Read the complete editionMarkets send mixed Signals 21 February 2022Markets send mixed signals: Rampant inflation unsettles investors. US inflation accelerated again in January. With an increase of 7.5% year over year, numbers were higher than expected. Read the complete editionRising Pressure on Central Banks26 January 2022Rising pressure on central banks: Inflation prompts mounting urgency on fed to accelerate tapering. 2022 will mark the end of loose monetary policy to combat a persistent rise in inflation. Read the complete editionThe great Reset of the global Economy6 January 2022The great reset of the global economy: The pandemic-ridden year of 2020 was followed by yet another unusual investment year. Read the complete editionInflation vs. Inflation Expectations29 November 2021Inflation vs. Inflation Expectations: It is difficult to make predictions – particularly about the future Read the complete editionFinancial Repression1 November 2021Financial Repression: Inflation overshoots as central banks continue to buy bonds Read the complete editionBad News out of China29 September 2021Bad news out of China: The market expects a low chance of contagion risk from Chinese real estate Read the complete editionUS Inflation likely to have peaked23 August 2021US inflation likely to have peaked: July US consumer prices rose 5.4%, same level as in June Read the complete edition Archiv
