Adrien Pichoud Adrien Pichoud

18 years of experience
Economist

Our monthly view on asset allocation (June 2019)
Let’s get straight to the point – disappointments and concerns are mounting. First, economic growth momentum remains weak. [...]
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May 2019
The US economy is bending, but not breaking. Economic growth momentum has been softer since Q4 last year, due to a variety of factors.[...]
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Our monthly view on asset allocation (May 2019)
Markets continued to be supported by the goldilocks markets environment, where central banks remain dovish, growth is decent and there are no signs of inflationary pressures. [...]
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April 2019
The U-turn performed by the US Federal Reserve in a matter of six months is quite spectacular and possibly unprecedented. In early October 2018, the Fed had just raised its key rate for the seventh[...]
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Our monthly view on asset allocation (April 2019)
Markets continued to move higher over the period as central banks are expected to remain accommodative, extending the business cycle.  Despite that, we believe that it is now too late to chase the ral [...]
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March 2019
Amid rising concerns around the global growth outlook – and one month later than usual due to the government shutdown – the first estimate of US GDP growth during the fourth quarter of 2018 proved rat[...]
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Our monthly view on asset allocation (March 2019)
Markets and asset prices continued to trend positively, supported by monetary policies that shifted from a tentative normalization trend  to neutral with a dovish bias. [...]
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Our monthly view on asset allocation (February 2019)
The start of the year was positive for markets despite the continuous deterioration of economic growth data. [...]
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1 Year in 10 Snapshots 2019
The global economy experienced a steady slowdown in economic activity over the course of 2018.[...]
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