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The high volatility of recent weeks likely represents a regime shift from the low volatility environment of 2017. For bond-focused investors, it means continued diversification away from not only interest rate risk but increasingly, seeking alternative drivers to ongoing narrowing of spreads. For equity investors, high volatility brings opportunities in conservatively structured products while capitalising upon the still strong earnings growth around the world.

Fondi e Sicav (26.02.2018) - A fragile coalition could threaten future economic performances

Since the beginning of the year, investors’ concerns over a return of inflation have come back to the fore and triggered a sharp sell-off in US Treasury bonds. Investors were initially unfazed, as this move reflected solid US growth prospects.

From the Desk of a Fund Manager (February 2018): New Federal Reserve Chairman Jerome Powell’s first day on the job saw him take up the post following an unexpected pick-up in US wage data in January.

WTI oil prices are flat year-to-date after having seen the best start to a year in over a decade and reaching a 3-year high of USD 66.5 in mid-January.

Union Bancaire Privée (UBP) has announced the appointment of Adrian Künzi as CEO of its Zurich branch and Head of the Northern Europe Region within the Private Banking division, as of 1 March 2018.

As we enter 2018 after a record year, one question is on everyone’s lips: what can be reasonably expected from here?

Smaller companies have now performed strongly over a number of years following the financial crisis and have a history of strong relative returns over the long term. What are the main contributing factors to these positive returns, and will the outperformance that has been seen in 2017 be followed by further strength in 2018?

Union Bancaire Privée (UBP) has announced the appointment of Thierry Garde as Site Manager of its Monaco branch as of 1 February 2018.

Contrary to some small- & mid-cap (SMID) segments of stock indices, the SPI Extra is not necessarily more of a reflection of the domestic economy than the wider Swiss equity market, where more than 90% of company revenues are generated abroad. Swiss SMIDs are broadly as international.

Gulf News (05.02.2018) - The US 10-year treasury note jumped to as high as 2.75% last week on expectations of higher inflation and rates

From the Desk of a Fund Manager (January): The global equity rally in 2017 stemmed not only from subdued geopolitical risks, but also in part from growing evidence of a pickup in world economic trade and a recovery in commodity prices.

Both chambers of the US Congress are targeting a tax cut which could reach USD 1.5tn over the next decade. Much has been made of the recent US tax reform.

Finanz und Wirtschaft (24.01.2018) - Guy de Picciotto, CEO of UBP, talks about the 2017 financial year, and explains why his international clients are not showing much concern about negative interest rates on the Swiss franc. The head of one of the biggest family-owned banks also tells us where UBP is looking to expand in the future.