Asset class insights

In this PERSPECTIVES Viewpoint – China: Upside driven by AI optimism and policy stimulus, we evaluate the rally seen in Chinese equities, comment on the implications of a U.S. growth slowdown and potential tariffs.

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.

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.

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.

As demand surges, primarily due to electrification and data centre expansion, the need for low-emission energy sources becomes critical. This transition necessitates significant investments in grid expansion and modernisation to integrate renewable energy sources while maintaining system stability and resilience.

China unveiled several stimulus measures on May 7 and it was confirmed that the U.S. and China would hold official tariff negotiations this week. In this PERSPECTIVES Special, we look at the impact of these events on Chinese equities.

The first 100 days of the President Trump’s second presidency has clearly pointed to an ‘America First’ agenda. We take a closer look at portfolio impact and what this means for investors globally in this PERSPECTIVES Special.

In this CIO Special, we look at four possible investment areas and consider their merits.

U.S. trade and tariff policies and their lack of predictability have caused significant price fluctuations in all areas of the financial markets. Browse this page for more details.

On Wednesday, President Trump announced his decision to put a 90-day pause on reciprocal tariffs on all countries except China. The reciprocal tariffs, which were announced a week prior, were set to take effect on April 9th and targeted a broad range of trading partners.