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The positive momentum persisted into February, traditionally a challenging month for markets. Contrary to expectations, stock prices increased despite rising bond yields, catching many investors by surprise. Again, the US mega caps dominated trading and performance attribution with, for example, chipmaker Nvidia rallying after a stellar report to become the third company ever to reach […]

Happy New Year! January turned out to be the third consecutive month with positive stock market returns overall despite investors’ initial hesitation. After the very strong finish in 2023, with November and December delivering bumper price increases, the new year however started off on a more apprehensive note. This was due not least to the […]

What a difference a couple of months makes! After a dismal period in August through October, markets swung around completely in November and December as investor sentiment turned for the better. Following November, when positive market action was largely due to short covering, price movements in December reflected a generally increased risk willingness on behalf […]

The end of the rate hiking cycle and rallies in both equities and bonds! After three dismal months where investors fretted about rising bond yields, uncertainty over inflation and/or recession, and the geopolitical situation, sentiment positioning was at a year low at the end of October. In November, however, all these concerns seemed to dissipate […]

Rising bond yields, recession fears and war! Following a dismal performance in August and September, equity markets continued down in October with a third consecutive month of falling prices. On top of the worries of “higher for longer” bond yields and the implicit risk for the overall economy going forward, the Hamas terrorist attack against […]

There has been a lot of buzz recently about the new treatment methods for Alzheimer’s disease and obesity. These breakthroughs are encouraging for patients and their families and bring hope of a better quality of life. Beneath the surface of these positive readouts, we see an ever-growing number of clinical trials in various therapeutic areas […]

Rising rates and recession fears. The seasonal pattern of a weak late summer and early autumn came true once again, and equity markets sold off in September. In the absence of earnings reports and other major corporate news, investors focused solely on macroeconomic developments, especially in the US. Interest was centered on several issues: Fast […]

Summer doldrums! Following a five-month stretch of rising global stock prices, equity markets fell back slightly in August. After a better-than-feared earnings report season, investors re-focused on macro events. The tug-of-war in opinion regarding future central banks rate hikes, significantly higher yields on long-term government bonds, as well as worries over developments in the Chinese […]

Rates, recession and a Russian uprising! After the dominating themes in May; the US debt ceiling on one hand and the brilliant prospects of Artificial Intelligence on the other, evaporated from investor’s minds and central banks’ policies and the risk of a looming recession took center stage in June. Following a fantastic first half of […]