From euphoria to the new normal
The rest of the year will not be shaped by the same optimistic mood as the first half-year. Where will interest rates and inflation level out in the new normal?
Investment compass – July 2021
The monthly newsletter 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.
Positioning
Headwind on the financial markets
The economic recovery is levelling out. After a strong first half-year, the financial markets are expected to face headwind in the second half of the year.
The situation remains uncertain but not unattractive for investors.
Market overview
Downward pressure on interest
Bonds have made surprising gains on the financial markets in recent times. The equity markets currently seem to have lost some momentum – but the US equity market is bucking this trend.
Economy
Turning point in global economic climate
The recovery has peaked in China and the USA. The economy in Europe is still running at full tilt, but the Delta variant could hamper these plans.
Model portfolios
Slightly defensive into the second half of the year
A continuation of the spring rally seems unlikely.
Newsletter
Investment compassInformation relevant to your investment decisions. The “PostFinance house view”, complete with our position on and assessment of the financial markets and the overall economic situation.
Newsletter
Investment compass compactFor independent investment decisions: concise, crystal-clear information on the financial markets and the overall economic situation.
The newsletter is aimed at customers domiciled in Switzerland. The legal information and information on the protection of personal privacy apply.