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It is difficult to characterise the first half of 2026 in any other way than volatile or complex, with the...
21 July 2026
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Market Views
Equity
Global Equity
In the first part of the year, equity markets continued to deliver positive returns. Year to date, the US market...
14 July 2026
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Market Views
Credit
Global Credit
Volatility is likely to rise In the second half of 2026, we expect volatility to rise. As a consequence, we...
7 July 2026
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Market Views
Credit
Financials
Stability remains the central theme The first half of 2026 was dominated by many events and by fast-changing macro assumptions...
30 June 2026
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Podcasts & Videos
Credit
Financials
Financial credit differs from corporate credit because banks operate through layered capital structures, constantly reassessing borrower risk and holding capital...
13 May 2026
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Market Views
China is advancing at exceptional speed in AI, robotics, biotech, green transition, electric vehicles, and other key innovation sectors. Its...
16 April 2026
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Market Views
Credit
Global Credit
The key variable for markets is the duration of the conflict between the US, Israel and Iran. A short conflict...
11 March 2026
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Market Views
The central macro message from the 2026 World Economic Forum in Davos is that the US may be moving away...
23 January 2026
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Market Views
Credit
Financials
2025 delivered big macro headlines, yet markets stayed unusually calm, with volatility only briefly flaring around events like “Liberation Day”...
13 January 2026
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Market Views
Equity
Financials
Despite continued political and macro uncertainty in 2025, the core thesis on financials has been validated in both Europe and...
10 December 2025
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Market Views
Equity
Global Equity
April 2, 2025 (Liberation Day) marked the major turning point for markets: once the rules of the game became clearer,...
3 December 2025
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