Swiss Economy
Domestic demand, the franc and the quiet pressure of a small open economy. A note on what private clients tend to over-weight in the local picture.
BriefingInsights
Perspective when markets move.
Research, in this house, is a way of slowing the conversation. The notes below are written in an editorial register — and every figure is mock data for demonstration.
Quarterly Market Review
A calm reading of the last three months: what actually changed in growth, inflation and risk appetite — and what did not.
Read moreGlobal Equities
Leadership remains narrow in the illustration. Breadth, valuation and the difference between a market and an index.
BriefingInterest Rates
Policy paths are less interesting than the shape of real yields and what they imply for the ballast in a private portfolio.
BriefingReal Assets
Property, infrastructure and the slow variables: occupancy, cap rates and the cost of capital. Not a trading view.
BriefingInvestment Themes
Quality, diversification, liquidity and long-term opportunity — restated for a year in which each word is being used too quickly.
BriefingCharts
A few series, plainly drawn.
All series are mock / illustrative. They are not market data, not a track record, and not a forecast.