insights.

We analyse the conflict in the Middle East, its energy‑market risks, and potential macro and market implications under two scenarios - limited and severe escalations.

We examine the impact of President Trump’s new global tariffs by country and sector, as well as geopolitical risks and their investment implications.

In this Viewpoint we look at US-Iran tensions, and why our base case remains for a negotiated solution.

We present our long-term, risk-adjusted return expectations for the major asset classes. These are shaped by our macroeconomic assumptions, and underpin our portfolio construction.

This week we highlight the fourth quarter’s strong earnings season, with investors rewarding clear AI monetisation, broadening US leadership, and outperforming emerging markets.

We set out the reasons for our recent upgrades to the growth outlooks for the US, euro area and Chinese economies.

How should investors consider the role of sovereign bonds in portfolios? We look at changing demand dynamics, an evolving portfolio role – and the ongoing appeal of the asset class for domestic investors.

Global instability is rippling through markets. How are we investing for the new world order? Watch our latest video with Samy Chaar, Chief Economist, CIO Switzerland.