Japanese storm clouds in the shadow of the technology hype?
Nvidia has cemented its dominant market position and significantly exceeded analysts’ expectations in the third fiscal quarter ending October 2025. With revenues of USD 57 billion, the result was more than USD 2 billion above analyst expecations. The revenue...
Is the Fed’s Independence Fading?
When Jerome Powell took over as chair of the Federal Reserve on February 5, 2018, he had certainly imagined a calmer final phase to his now almost eight-year presidency. When the top monetary policymaker’s second term ends on May 15, 2026, the trained lawyer...
The elephant in the room: The US debt burden
As part of our «Investment Summit» roadshow at the beginning of 2025, we pointed out a risk for capital markets that both the stock market and politicians were not yet paying the necessary attention to at the time: the escalating debt of the USA. Today, the topic has...
Bond markets as a corrective force?
Donald Trump is keeping capital markets around the world on their toes. Since his inauguration on January 20, 2025, the Nasdaq temporarily lost over 23 percentage points, the US dollar has slumped from EUR 0.96 to EUR 0.86, the WTI oil price has fallen from over USD...
