Tight by comparison

Increasingly, shrinking Eurozone spreads say less about European virtues and more about anxieties in many of the world’s other bond markets.

The worrying 'K' on the U.S. stock market

The operating profits of the S&P 500 and overall economic profits are decoupling

The Nikkei has scaled new heights

Both political developments and structural tailwinds are breathing fresh life into the Japanese stock market

The great net income divergence, revisited

For over a decade, the S&P 500’s net income growth has outpaced Europe’s Stoxx 600. But signs of change are emerging beneath the surface.

Tequila sunrise

Still constructive

Cautiously optimistic: Our forecasts for the next 12 months

Silver – a metal of dual purpose in tightening markets

Silver hits record highs on industrial demand surge and supply squeeze

Role reversal

How Italy and France appear to be switching positions when it comes to the respective riskiness of their government debt.

Regime change of a different kind

Venezuela’s turmoil offers a test case of how oil and metals shocks can ripple through inflation and rates, as the energy transition rewrites old market rules.

Recession odds remain elevated

Uncertainty and higher prices expected to take a toll on the economy.

Rational Exuberance

2026 may be a good year for risky assets

Q2 2026 Outlook: Central & Eastern Europe Markets

By: Sebastian Kahlfeld

Oil shocks don’t bite like they used to

Decades of efficiency and electrification have defanged a once-feared macro risk — even as Middle East tensions keep markets jumpy.

No massive sell-off of U.S. securities

Foreign investors reduced their holdings of U.S. assets in April, but only to a very small extent

Markets between Energy shock and AI boom

Rising energy prices weigh on growth and inflation, while AI-driven investment continues to support selected segments and drive increasing divergence across markets.