Does the Fed’s balance sheet have a price tag?

Even a quieter, less interventionist Fed would only shrink its footprint very cautiously. Partly this reflects changes to the financial plumbing in recent decades.

Defying expectations

With European growth expectations for 2025 now already subdued, it is hard to imagine further bad news catching prognosticators by surprise.

Data centers drive U.S. electricity demand

After years of stagnation, digitalisation is leading to a significant increase in electricity demand

Critical minerals at the center of geopolitical tensions

Competition for raw materials vital for the energy transition is intensifying

Covered bonds – the success story continues

By: Vincenzo Vedda

Covered bonds may not only offer high security standards, but also attractive valuations.

Copper between shortage and stockpiling

A physically tight market is keeping prices close to their record highs.

CIO View: Gateway to Europe

By: Vincenzo Vedda

Europe may be entering a new investment renaissance. Modernisation in defence, infrastructure, the green transition and low‑carbon tech could reshape the landscape. This could create compelling opportunities across multiple asset classes.

CIO View Portfolio: Perspectives

By: Vincenzo Vedda

In our monthly Multi-Asset update we describe the translation of our CIO View into the CIO View model portfolio.

China’s trade thrives beyond the U.S.

Despite falling U.S. demand, China’s exports grew—thanks to emerging markets. But transshipment clauses in Asian countries’ trade deals with the U.S. may pose risks

China’s 5-Year Plan: Innovation Overdrive?

The Communist Party’s latest 5-year blueprint puts technology and productivity in the spotlight.

Brave new energy world

The changing balance of power between the world’s leading oil producers helps explain some of the recent oddities happening in global financial markets.

Bitcoin – a certain kind of hedge?

Short-term high correlation with the Nasdaq should not be over-interpreted

APAC CIO View

By: Ivy-sw Ng, Tommy Law

ASEAN Developing Countries: Resilient Growth thus far

APAC CIO View

By: Ivy-sw Ng, Tommy Law

Persistent Rice Inflation: Balancing Inflation and Economic Risks

APAC CIO View

Exploring the IP Playbook: From Japan to China