An overview of recent market developments and macroeconomic conditions, as well as our over- and underweight positions. This primarily discusses equity, bonds, and money markets. Alternative investments, such as real estate and private equity, will not be systematically covered in the report, but such products should also be included in a long-term investment portfolio.
Key points
- U.S. growth expectations revised down for the first time since autumn 2022
- Trump launches a new round of tariff hikes, including 20% on EU goods
- The U.S. dollar weakens despite heightened market uncertainty