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.

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?

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.

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Investment compass

Information 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.

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Investment compass compact

For 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.