Category Archive: 2.) Pictet Macro Analysis

Filter archive by: Show All Show only Articles Show only Videos

Pictet Multi Generational Wealth – MVC Group (abridged version)

2022-09-06

by

Giordano Cremonese joined his parents’ garment business back in 1972 and in the subsequent years led the company to soaring new heights. Headquartered in the Dolomites, in northern Italy, MVC Group is today one of Italy’s, if not the world’s, most historic sportswear companies, with its three brands focused on the great outdoors: Sportful, Karpos, and the jewel in the MVC crown, the storied Italian cycling brand Castelli. To further boost growth...

Read More »

Weekly View – Unsettled

2022-05-10

by

2022-05-10

Last week’s 50 bps Fed rate hike was not a surprise. Indeed, Fed chairman Jerome Powell’s assertion that a 75 bps hike had not been actively considered was enough to spark a stock rally. But it proved short-lived, with markets quickly returning to their fears about inflation.

Read More »

Pictet — International Women’s day: Episode 1

2022-03-08

by

Pictet Women share they hopes for the future

Read More »

Pictet Report – Cultural force – teamLab

2022-02-17

by

Founded in Tokyo in 2001, teamLab is a world-renowned art collective comprised of hundreds of specialists, ranging from programmers and engineers to architects and CGI animators. Operating at the intersection of creativity and technology, the collective is best known for its large-scale immersive installations, in which viewers become active participants, moving around a responsive space and interacting with their surroundings. In this film, we...

Read More »

Pictet – Investing in net zero

2021-11-26

by

The climate transition presents the biggest investment opportunity of our lifetime explains Melanie Larkin, Investment Communication Manager. One way investors can participate in this is by investing in net-zero transition leaders – the companies leading the way in the transition to net zero greenhouse gas emissions.

Read More »

Weekly View – Big Splits

2021-11-16

by

2021-11-16

US prices continue to rise, with the US consumer price index (CPI) for October coming in at its highest in three decades. President Biden made a boldly worded response as inflation becomes a growing focus among politicians with their eyes fixed on next year’s midterm elections. Oil prices fell on investors’ expectations that the US could free up strategic reserves to combat energy inflation.

Read More »

Weekly View – Central Bank Halloween

2021-11-02

by

2021-11-02

Last week, the US GDP growth figure for Q3 came in lower than expected, while prices moved higher than anticipated and the US Employment Cost Index update rose at its fastest pace in 31 years. The headline increase was driven by the biggest surge in wages since 1982, up 1.5% in the third quarter.

Read More »

Pictet – In conversation with Niall Ferguson

2021-10-22

by

Ahead of a recent Pictet conference in London, Professor Niall Ferguson shared his views on the real winners and losers from the pandemic, next year’s midterm elections in the US and why we are not holding the right conversation about climate change.

Read More »

Pictet – Trailer In conversation with Niall Ferguson

2021-10-22

by

Ahead of a recent Pictet conference in London, Professor Niall Ferguson shared his views on the real winners and losers from the pandemic, next year’s midterm elections in the US and why we are not holding the right conversation about climate change.

Read More »

Weekly View – Widening bottlenecks

2021-10-19

by

2021-10-19

After September’s negative performance, last week proved one of the strongest in a while for equity markets. This rebound followed news that the Biden administration will start to tackle the supply-chain and logistics issues that have been preventing deliveries.

Read More »

Weekly View – Debt ceiling deadline postponed

2021-10-14

by

2021-10-14

China’s high-yield bond crisis continued last week, with yields on the ICE BofA index of Chinese high-yield US dollar bonds moving above 18% at one stage last week, the highest level in a decade. Further nervousness was caused by one real-estate issuer’s decision not to reimburse USD200 mn of offshore bonds--despite having USD4 bn in cash on its balance sheet.

Read More »

Pictet – Perspectives: Where to invest until 2022

2021-10-08

by

As we near year’s end, markets have been increasingly expressing concerns grow about growth momentum, supply bottlenecks and events in China. But César Pérez Ruiz, CIO at Pictet Wealth Management, remains constructive, believing we are still in the middle of the recovery cycle. He continues to see opportunities in companies with pricing power and those keyed into the green economy, as well as in alternatives like hedge funds and real estate (a good...

Read More »

House View, October 2021

2021-10-05

by

2021-10-05

We maintain our tactically neutral position on equities, with the notable exception of Japan, where we see scope for a re-start to Abenomics and for Japanese stocks to continue to close their performance gap with their peers in other developed markets.

Read More »

Weekly View – “The lady is not tapering”

2021-09-14

by

2021-09-14

As expected, last week the European Central Bank hinted at a “moderate” reduction of the bond buying it undertakes as part of its Pandemic Emergency Purchase Programme (PEPP). But ECB president Christine Lagarde refrained from providing a precise timeline and she was adamant that a reduction in PEPP purchases did not mean the ECB would tighten financing conditions.

Read More »

Weekly View – 50 years later

2021-08-17

by

2021-08-17

The rosy US employment picture helped push equities to a new high as US inflation moderated in July. Those looking to fill roles now exceed those looking for work, compelling some small and mid-sized companies to raise wages. Higher prices seem to be keeping the US consumer in check, however, with consumer sentiment hitting its lowest level in a decade.

Read More »

Weekly View – Staying on script

2021-07-20

by

2021-07-20

Big US banks released their 2Q earnings last week. The figures were good thanks to robust growth in investment-banking income as well as a drop in loan-loss provisions. But banks also reported that wage costs were beginning to rise, and while a booming housing market has boosted mortgage-loan business, the renewed retreat in long-term yields has been a drag on interest income.

Read More »

Weekly View – M&A Boom

2021-04-13

by

2021-04-13

M&A (mergers and acquisitions) activity is on the rise, as companies coming out of the pandemic with strong balance sheets shop for buying opportunities. Last week ACS, a Spanish construction group, approached Italian transport company Atlantia to buy Italy’s largest motorway network. Two big funds are also eyeing Dutch telecommunications company KPN as a potential acquisition target.

Read More »

House View, April 2021

2021-04-06

by

2021-04-06

We believe that robust earnings growth will overcome concerns about rate increases. Within a neutral position on developed-market equities, we believe sectoral rotation will continue and we remain overweight cyclical markets like the UK and Japan. But while we believe the attractiveness of stocks subject to wild valuation swings will fade, we continue to like cash-rich ‘structural grower’ stocks.

Read More »

Pictet Perspectives — Outlook 2021: The year of the phoenix

2020-12-18

by

César Pérez Ruiz, Head of Investment & CIO, on key investment themes for the coming year—Who pays the bill?, Losers’ revenge, and More of the same.

Read More »

Pictet — Multi-Generational Wealth : Azimut-Benetti

2020-12-15

by

With 2,000 global employees and turnover of nearly 1 billion Euros, the Azimut-Benetti Group is the world's largest manufacturer of motor yachts. Giovanna Vitelli is the daughter of company founder Paolo Vitelli, as well as the group's vice president, responsible for many of its core operations. In this film, she talks us through how she benefited from starting her career outside of the family business, but also explains how family ownership has...

Read More »