Thought
leadership.

Central banks in Switzerland and Japan made diametrically opposing decisions over interest rates but both with the intention of influencing their currencies. The Swiss franc has risen by more than 15% since the end of 2019 and exports have failed to return to pre-Covid levels.

Until recently the “Great Resignation” theme shaped any analysis of today’s labour markets. But as the scars of the Covid-19 epidemic fade, we need to take a new approach. The jobs market is, in fact, struggling with chronic imbalances. 

Edmond de Rothschild reported a high level of net inflows, driven by its two business lines, private banking and asset management, across all its geographies.

Increasing signs of an economic slowdown are appearing in the US. Retail sales unexpectedly fell, especially the more precise “control group” data, and the NFIB confidence index for small companies also dropped.

Since the end of October 2023, the MSCI WORLD has jumped more than 20% and smashed through records¹.

The environmental infrastructure specialist, a member of the Edmond de Rothschild Private Equity partnership, also starts initial tests phase of its first vintage fund’s final investment, the Green Valley Energie biomass cogeneration plant in France.

The Super Tuesday result was crystal clear: barring some surprise event, Joe Biden will face Donald Trump in November’s presidential election. For the moment, the news has had little impact on markets. 

Global markets were boosted by another batch of encouraging growth and inflation data. Activity and household consumption figures in the US were upbeat and investors were relieved to see that US inflation came in as expected.

Nvidia’s results stole the show this week. Third-biggest S&P 500 cap, the group’s figures had as much, if not more, impact on markets than a central bank meeting.

While Open AI recently celebrated the 1-year anniversary of ChatGPT’s public launch last month, capital markets have fully embraced the arrival of generative AI in 2023: Nvidia, recovered from the crypto meltdown in 2022, where it lost more than 50%.

The latest US inflation figure upset the consensus narrative on disinflation. After a run of resilient US economic data, inflation is now proving resilient. 

Most French cities set up a big wheel before Christmas, allowing everybody and especially children to have their first winter thrills.