valid from 21.09.2022
Model portfolios – Swiss focus
Defensive into the autumn
The summer high in the financial markets was followed by more difficult weather last month. Investors were caught up in concerns about inflation and the economy. In addition, the central banks surprised the financial markets with their rigorous statements on fighting inflation. Defensive positioning in portfolios was therefore appropriate.
The prospects for better weather in autumn are slim. High inflation and rising interest rates will pose challenges for consumers and cause an economic slowdown. We therefore confirm the defensive orientation in our portfolios.