Investment letter – October 2022
Inflation was, again, the biggest worry macro-wise throughout September.
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Inflation was, again, the biggest worry macro-wise throughout September.
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The sharp summer equity markets’ rally seems to have peaked this month as investors readjust to a bleak underlying macro reality.
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The deterioration in leading growth indicators continued in July, with US and European manufacturing and services surveys missing to the downside and sliding further.
LEARN MOREThe deterioration in leading growth indicators accelerated in June, with US and European manufacturing and services surveys missing to the downside and sliding towards 50.
LEARN MOREThe inflation outlook continues to dominate financial markets’ narrative.
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Un beau moment de convivialité et de partage aux Ruches de Stéphanie pour découvrir l’univers passionnant des abeilles en compagnie de Stéphanie Vuadens. Suivi d’une…
LEARN MOREThe war in Ukraine continues and, for now, a rapid fulfillment of Russia’s revised military goal remains elusive, as does a credible diplomatic resolution.
LEARN MOREFinancial markets continued on their volatile trend in 2022. The key risk factor moved from tighter monetary policy to geopolitics. The start of the month was dominated by the inflation narrative.
LEARN MOREFinancial markets proved volatile in early 2022 and the macro backdrop contributed to that. The fifth wave of Covid led to rising concerns about the impact of the pandemic on economic activity in the US.
LEARN MOREThe macro backdrop in late 2021 was dominated by tensions between rising concerns about the sanitary situation especially around the Omicron variant and inflation pressures.
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