Dead end
The USA is taking on too much – with consequences for the global economy.
Investment compass – March 2026
The monthly publication includes a topical editorial, our positioning including the conclusions from the analyses, a market overview of the most important asset classes, an assessment of the current economic situation in various regions, and our current model portfolios.
Rising prices and weaker growth are rarely fertile ground for financial markets.
Positioning
Oil shock rips markets out of hibernation
The attack on Iran is causing oil prices to rise sharply and weighing on the financial markets. We’re reducing risk in our portfolio slightly and maintaining our overweight in gold and global value stocks.
Market overview
Geopolitical escalation weighs on financial markets
The escalation in the Middle East had a major impact on the financial markets over the month, pushing annual returns for many asset classes into negative territory.
Economy
Recovery under threat
The improved economic outlook is already at risk of reversing in light of geopolitical tensions.
Model portfolios
Wartime increases uncertainty
The escalation in the Middle East had a major impact on the financial markets. Our cautious positioning proved correct. Due to greater uncertainty, we’re reducing our risk slightly and scaling back our overweight in emerging market bonds in favour of cash.
“Investing with foresight” short video
In the video, our CIO, Philipp Merkt, shows how conflicts can affect the financial markets and how we’ve reacted to recent events.
Newsletter
Investment compassInformation relevant to your investment decisions. The “PostFinance market view”, complete with our position on and assessment of the financial markets and the overall economic situation.
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