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The tariffs announcement by US President Trump last Wednesday evening exceeded most expectations, raising the average tariff on US imports from 2.5% to 24%, a level not seen since the 1930–40s.

Supported by innovation and the government, technology is the only Chinese sector offering great visibility.

Union Bancaire Privée, UBP SA (UBP) announces the successful completion of its acquisition of SG Kleinwort Hambros from Societe Generale, marking a significant milestone in the Bank’s international growth strategy.

Observers and investors were expecting the US dollar to go up in value. This was without counting on the new US administration’s erratic policymaking and announcements on tariffs. Where is it going next and what other factors are affecting the greenback?

The US–Europe relations prevailing since World War II are shifting.

Trump’s activism on the US economy is creating fears of recession. To navigate short-term turbulence, we have tactically scaled back our exposure to macro-sensitive assets, such as US equities, including US midcaps, along with high-yield and emerging-market debt, while increasing our allocation to gold.

US corporate earnings growth is slowing. Unless it picks up again, stocks will become overvalued.

In New York as well as other major metro areas, once-bustling corporate offices are now quieter, leading companies to adjust to a new reality: remote working is no longer a temporary solution but rather a structural shift. Consequently, corporates are actively reducing their office space footprints, significantly increasing vacancies in the sector.

At UBP, we think that silver is set to rise substantially over the coming weeks and months, reflecting large global inventory shifts and an increasingly compelling valuation profile.