A summer of disappointments
The economy is flagging in China and Europe. There’s still the risk of weak growth in the USA. We continue to advise a cautious approach.
Investment compass – July 2024
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.
Central banks look more inclined to accept higher inflation than run the risk of recession.
Positioning
Cognitive dissonance
While the financial markets remain optimistic, the economic environment looks increasingly challenging. We remain cautiously positioned.
Market overview
Positive performance across the board
The financial markets recorded a positive performance overall last month. Weaker economic signals from the USA and a still sluggish recovery in Europe and China are continuing to have little effect on the financial markets.
Economy
Increasing uncertainties
Data on the global economy proved disappointing last month. This means optimistic economic scenarios have become less likely.
Model portfolios
Discrepancy
While there is a prevailing mood of optimism on the financial markets, the economic situation is increasingly challenging, particularly in the USA.
“Investing with foresight” short video
Watch the video to find out how the most important asset classes performed in the first half of the year and why gold is one of the frontrunners. We also shed light on the widening gap between the US equity markets and the economy.
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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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