Tariffs de-escalation César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. A historic week ended with white smoke – or “fumata bianca” – rising from the Vatican, where cardinals elected the first US pope, and with the US and China agreeing to major tariff reductions for…

Xiao Cui, Senior Economist, at Pictet Wealth Management, ahead of tomorrow’s Fed meeting. We expect no changes to the federal funds rate or balance sheet policy. There will be no new dot plot or economic projections. We expect Chair Powell to acknowledge that recent policy…

David Ross, CFA, International Fund Manager, La Financière de l’Échiquier. During his first 100 days in office, Donald Trump has orchestrated a series of wild policy U-turns that have unsettled markets and created a climate of uncertainty. By erasing any sense of normalcy, the President…

China plays hardball César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. President Trump pivoted to a softer stance on China tariffs last week and said he had no intention of firing Federal Reserve Chair Powell, helping markets rebound. Trump said US tariffs on Chinese…

Prof. Dr. Jan Viebig, Chief Investment Officer, ODDO BHF AM. It seems that markets could be enjoying a breather after a rollercoaster ride in April. Recent statements from the White House have sounded a somewhat more careful note. While acknowledging that tariffs on Chinese imports…

Context We live in extraordinary times. President Trump’s sweeping trade tariffs, announced on 2 April, have dealt a major shock to the global economy, challenging the international trade system as we know it. While followed by a stunning U-turn on 9 April, uncertainty is likely…

Will he change his mind again? César Pérez Ruiz, Chief Investments Officer Pictet Wealth Management. The US/China trade war ramped up with China halting Boeing orders and Liquid Natural Gas purchases from the US. Meanwhile, America threatened port fees of USD50 per ton of cargo to…

Anthony Bailly, Head of European Equity Rothschild & Co Asset Management. Over the course of the quarter, the indecisiveness of the new Trump administration weighed on the confidence of both US consumers and businesses. The latest decisions on tariffs heightened these concerns, leading observers to…

Technology is ushering in a new generation of healthcare, supported by specialised tools that can help speed up drug discovery and treatments. Once, the world dreamed of having a pill for every ill. Today, next generation therapies are changing our perspective, making it possible to…

By Laurent Denize Global Co-CIO ODDO BHF. "Last days have shown that dislocations in the US bond market are perhaps the only lever to exert influence and pressure on the Trump administration." Equities down, credit down, dollar down…and yields up, an odd combination recently experienced…