With inflation coming back, all eyes are on the central banks. The U.S. Federal Reserve Board is willing to raise rates, but the European Central Bank is taking a more cautious approach towards tightening monetary policy. According to Bryan Whalen, portfolio manager at TCW, we won't see a rate hike in Europe before 2019.
Switzerland’s stock exchange SIX plans to launch a trading platform for digital assets such as cryptocurrencies. In an interview with CNNs Zain Asher, Jos Dijsselhof, the CEO of SIX, talks about the reasons behind the move. Being “a recognized and regulated infrastructure provider” he wants to provide this reliability and greater transparency for a unregulated world.
As companies head toward the earnings season in Switzerland, the focus of investors is back on results. "We still see many opportunities, and we hope that earnings have put back the focus on fundamentals," says Dan Scott, deputy CIO at Vontobel.
Top-down or bottom-up? Long-term or short-term? Stocks or bonds? "We are definitely favoring stocks, and that certainly is where my heart beats," says Eleanor Taylor Jolidon, co-head of Swiss & global equity at UBP. As part of our special Living Markets summer series, she shows CNNMoney Switzerland's Martina Fuchs her personal side and explains why she prefers offline shopping rather than online.
Who is the biggest inspiration for your career? For Patrick Zweifel, chief economist at Pictet Asset Management, this is an easy question to answer: Charlie Chaplin. "He was able to do everything: He was a producer, director, actor, composer. I would have loved to be like him." As part of our special Living Markets summer series, CNNMoney Switzerland's Martina Fuchs visited Zweifel in his Geneva office, where he explained why cryptocurrencies are not his cup of tea.
Rising trade tensions between the United States and the rest of the world could cost the global economy $430 billion, the International Monetary Fund has warned. According to Alastair McCaig, director of investment management at Fern Wealth, the rift between the U.S. and the rest of the world could be widened going ahead.
"Everyone is at the peril of economics and it is the experts that need to make it less complicated," says Marie Owens Thomsen of Indosuez Wealth Management. She tells CNNMoney Switzerland's Amanda Kayne that finance should be taught better in schools and why it is her mission to simplify managing wealth for everyone.
Despite some signals of an economic slowdown amid the ongoing trade war between the U.S. and China, the overall growth rate of the global economy is still good. According to Jim Cielinski, the global head of fixed income at Janus Henderson Investors, tariffs don't have a direct economic impact. The relative shift in growth in the midterm is hurting China more than the U.S.
Despite the positive results for big banks in the first half of the year, investors should focus on how they change the business model, says Michael Stemmle, CEO of the technology company additiv. This is because costs are rising and investments in new technology are necessary to meet the rapidly changing customers' demand. In Stemmle's view, only the banks that master these changes will be in a good position moving forward.
As investors face the earnings season for the second quarter of this year, Thomas Stucki, the CIO of the St. Galler Kantonalbank is confident. In Switzerland, the focus is on how the Swiss franc is valuated and how the economies in Europe and the U.S. are performing.
Looking ahead to the second half of the year, trade war issues are going to have a stronger impact on the economy. According to Costa Vayenas, senior investment consultant at Wellershoff & Partners, some sectors will be hit harder than others.
Stocks traded sharply lower in the U.S. after the Trump administration unveiled new tariffs on Chinese goods. Norman Villamin, CIO of UBP, anticipates the sectors that will likely get hurt by these measures and China's retaliation. Car manufacturers and tech companies could be among them, he says.
Ahead of U.S. President Donald Trump's trip to Europe, Aleksandra Gadzala, founder and CEO of Magpie Advisory, looks at the larger issues behind the trade dispute and the discussions about the role of NATO. In her view, there are some important conversations to be had, such as what NATO is now, and what will it look like in the future.
Looking ahead to the second half year, Yves Bonzon, CIO of Julius Bär, still sees a strong U.S. economy leading to a stronger U.S. dollar. This could have effects not only in emerging markets but also on Swiss blue chips, as the cost of capital is generally rising.