Time to pause for a moment
In a year full of turbulence, prudence and a clear strategy have led to encouraging results.
Investment compass – December 2025
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.
Even in turbulent times, good results can be achieved with a long-term and diversified strategy.
Positioning
When certainties crumble
The markets are recovering, but concerns about overblown expectations are leading to renewed setbacks. We prefer global value stocks and emerging market investments, where valuations continue to be cheaper, as well as gold and Swiss real estate.
Market overview
Volatile financial markets
The financial markets were once again volatile last month. The equity and bond markets trended sideways month-on-month.
Economy
Setback for the Swiss economy
The Swiss economy is contracting significantly, while China continues to weaken. By contrast, the eurozone is showing the first signs of recovery.
Model portfolios
Santa rally with setbacks
The equity markets began their Santa rally last month. However, high expectations triggered renewed setbacks. The US dollar remains overvalued on a trade-weighted basis, which is why we continue to see potential in emerging market investments.
“Investing with foresight” short video
In our video, our CIO provides an update on the current situation on the financial markets and explains events in just a few minutes.
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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