Markets

Macroeconomics · 23 Sept 2026

From monetary independence to fiscal dominance?

In previous “Horizon” publications, we have highlighted several structural trends shaping economies, including demographics, deglobalisation, decarbonisation, debt and digitalisation. Successive crises – such as the Covid pandemic, the war in Ukraine, the trade war and the recent Middle East conflict – have exacerbated these trends.

Macroeconomics · 23 Sept 2026

The great scramble for resources

Today’s increasingly fragmented world is driving a dash to secure resource sovereignty. Across the globe, governments are prioritising energy security and access to key commodities in the face of conflicts, trade barriers and climate change.

Macroeconomics · 21 Sept 2026

Weekly house view | Xi-Trump, round two

The CIO’s view of the week ahead.

Macroeconomics · 21 Sept 2026

Stablecoins versus the digital euro

The rapid evolution of digital finance has brought stablecoins and central bank digital currencies (CBDCs) to the forefront of global economic discussions. Stablecoins, which are digital assets designed to maintain a stable value, have experienced explosive growth. This is prompting new regulatory frameworks and raising important questions about their impact on financial stability, monetary policy and the international monetary system. At the same time, central banks are exploring digital currencies to preserve monetary sovereignty and adapt to changing payment landscapes.

Macroeconomics · 15 Sept 2026

The 2020s in historical perspective

Sir Niall Ferguson has spent his career explaining how economic history can help inform contemporary policy decisions. His latest theory, dubbed “Ferguson’s Law,” highlights how US fiscal profligacy threatens the durability of American power just as a second Cold War is emerging between the US and China.

Macroeconomics · 14 Sept 2026

Weekly house view | Bonds not Ha-PPI

The CIO’s view of the week ahead.

Macroeconomics · 09 Sept 2026

Re-equitisation: investing in a high issuance era

For much of the past two decades, equity investors have enjoyed a powerful tailwind: the phenomenon of “de-equitisation.” During this period, companies have bought back more shares than they issued, which has reduced the volume of listed equities and supported stock prices. That era appears to be ending.

Macroeconomics · 08 Sept 2026

Horizon 2026 – The race for resource sovereignty

A new era is upon us. The post-war, rules-based period of multilateralism has given way to multipolar rivalry and, by extension, heightened geopolitical tensions in a more uncertain world. At the core of this multipolar rivalry is a competition for supremacy between the US and China. And at the heart of their rivalry is a race for technological leadership – particularly in the field of artificial intelligence (AI). The superpowers’ quest for digital dominance extends to a competition for the resources needed to power the AI economy. Their fragile trade truce is indicative of a highly charged environment, in which “resource sovereignty” is the defining imperative.

Macroeconomics · 07 Sept 2026

Weekly house view | Fed waiting for CPI to decide

The CIO’s view of the week ahead.

Macroeconomics · 07 Sept 2026

Monthly house view | September 2026

Pictet Wealth Management’s latest positioning across asset classes and investment themes.

Macroeconomics · 02 Sept 2026

Barometer: Robust earnings growth to push equities higher

With corporate profit growth at remarkably healthy levels, we expect the stock market to add to its strong gains over the coming months.

Macroeconomics · 31 Aug 2026

Weekly house view | Biggest oil deal in history

The CIO’s view of the week ahead.

Alternatives · 27 Apr 2026

Your private equity portfolio needs a passport

Geographic diversification in private equity buyout: implications across US and European markets.

Alternatives · 30 Jan 2026

Housing affordability, political optics and the limits of capital restrictions

The renewed political push to restrict institutional investors from purchasing single-family homes has re-emerged as one of the most potent housing narratives in the United States.

Alternatives · 15 Jan 2026

IPOs, AI and the unicorn proliferation: The themes exciting private equity technology investors for 2026 and beyond

Pictet’s technology thematic private equity team discusses the aspects of the innovation revolution, from AI to IPOs, that are at the top of investors’ minds as we enter 2026.

Alternatives · 31 Oct 2025

Investing in health through private markets amid global shifts

Following a roundtable discussion with healthcare investors and entrepreneurs in Milan, we share in a brief note some insights on investing in healthcare private equity today.

Alternatives · 24 Jul 2025

Uncertainty and tariffs: the impact on global real estate

In the current environment, investing in real estate isn’t just about pricing assets – it’s about pricing policy. Doing so can help manage risks and identify opportunities.

Alternatives · 16 May 2025

European real estate: the core plus opportunity

In a world of volatile markets and falling interest rates, European core plus real estate can offer investors diversification benefits and a strong, sustainable income stream.

Alternatives · 15 Jan 2025

Beyond stocks & bonds: why universities invest in private assets

Some of the world’s biggest universities tap into private assets to generate returns for future generations.

Special report · 02 Mar 2026

The long-term performance of Swiss equities and bonds (1900–2025)

Pictet Wealth Management has released the updated edition of its study on the long-term performance of Swiss equities and bonds. The analysis now extends back to 1900 – previously 1926 – and includes the performance of Swiss equities and Swiss franc-denominated bonds from 1900 to 2025.

Equities · 22 May 2025

Lessons from 40 years of company returns

US policy is pushing investors to look beyond the US, a reallocation that is set to include private assets.

Equities · 26 Apr 2024

Pictet Wealth Management rolls out a new strategic asset allocation

Yannick Bigeard, Head of Portfolio Structuring at Pictet Wealth Management, was interviewed by EQDerivatives on PWM's evolving strategic asset allocation and some important upcoming projects.

Equities · 17 Jan 2023

Things look up for Chinese equities

Faster-than-anticipated re-opening together with a range of technical and fundamental factors mean we are raising our year-end forecasts.

Equities · 22 Dec 2022

Our 2023 outlook for developed markets equities

Margin pressure will stifle 2023 earnings growth.

Equities · 21 Dec 2022

Our 2023 outlook for equity volatility

Prospect of recession will feed into volatility, with a chance we see renewed skew steepening.

Equities · 19 Dec 2022

Our 2023 outlook for emerging-market equities

Waiting for the stars to align.

Special report · 02 Mar 2026

The long-term performance of Swiss equities and bonds (1900–2025)

Pictet Wealth Management has released the updated edition of its study on the long-term performance of Swiss equities and bonds. The analysis now extends back to 1900 – previously 1926 – and includes the performance of Swiss equities and Swiss franc-denominated bonds from 1900 to 2025.

Fixed Income · 23 Jun 2025

Catching fallen angels

When corporate bond issuers suffer downgrades, opportunities open up for investors prepared to take the long-term view.

Fixed Income · 05 May 2025

The twin sell-off that signals a break with the past

Why the simultaneous decline in Treasuries and the US dollar is a warning sign for investors.

Fixed Income · 20 Feb 2025

Credit as a haven from the bond vigilantes

Big government deficits and rising debt loads threaten to draw the ire of bond vigilantes. By contrast, credit offers a haven for fixed income investors.

Fixed Income · 27 Nov 2023

Emerging-market bonds: 2024 outlook

Emerging-market bonds, both government and corporate, will be an attractive source of portfolio diversification.

Fixed Income · 30 Aug 2023

The case for Asia fixed income

Asia investment-grade credits are well positioned to cope with the macro challenges ahead.

Fixed Income · 23 May 2023

Credit markets update

Challenging environment ahead

Navigating Asia · 22 Jun 2023

Why the family mission matters

A successful legacy is rooted in the trust and communication of a family's vision.

Navigating Asia · 29 Mar 2023

Innovative Infrastructure for a Net Zero future

The backbone of the economy needs a facelift if it is to help the world reach net zero. Here's how rapid advancements in innovative solutions, smart cities, and $94tn could shape our sustainable future.

Navigating Asia · 24 Jan 2023

Why companies are increasingly focusing on a more purpose-driven approach

Business transformation & generation changes are playing a critical role in today's environment.

Navigating Asia · 14 Jul 2022

Anchoring your philanthropic efforts in Asia

Anchoring your philanthropic efforts in Asia

Commodities & metals · 26 Mar 2026

Gold turbulence

This month, gold prices have experienced a sharp decline after reaching record highs earlier this year. While short-term market forces have weighed on the precious metal, gold’s long-term appeal remains supported by ongoing geopolitical uncertainties and economic shifts.

Commodities & metals · 16 Jun 2023

Don’t write off gold

Despite short-term price weakness, gold’s longer-term prospects remain untarnished.

Commodities & metals · 14 Feb 2023

The curious case of official gold demand

Find out why demand for the precious metal has increased exponentially last year.

Commodities & metals · 29 Dec 2022

Our 2023 outlook for precious metals

Silver could perform stronger than gold next year, while platinum could outpace palladium.

Commodities & metals · 03 Dec 2022

Our forecast for oil prices in 2023

After temporary weakness, we expect prices to increase again as the year progresses.

Commodities & metals · 30 Sept 2022

Energy crisis: how will Europe cope?

The next six months look tough, but a bigger test awaits further out.

Commodities & metals · 07 Sept 2022

Switzerland’s energy vulnerability

Dependence on Russian gas imports and storage capacity issues could make for a hard winter.

Commodities & metals · 18 Jul 2022

Precious metals - Outshined by the Fed

Precious metals have been hit hard by an ever hawkish Fed, high interest rates and a strong US dollar.

Commodities & metals · 14 Apr 2022

Gold: ETF demand to the rescue!

Gold has proved quite resilient to the rise in US real rates and could maintain its attractions over the medium term.

Commodities & metals · 04 Mar 2022

Surge in energy prices delays expected peak in inflation

Europe in particular is vulnerable to the impact of the Ukrainian conflict on commodity prices.

Commodities & metals · 10 Dec 2021

Gold and silver face near-term hurdles

Rising rates are likely to take a toll on investment demand for gold and silver in the coming months, but longer term the outlook looks brighter.