Adrien Pichoud Adrien Pichoud

18 years of experience
Economist

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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INVESTMENT PERSPECTIVES 2019 by our experts
We invite you to click on the link below to discover our macroeconomic outlook 2019.
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December 2018
We have seen quite a sudden reversal in the outlook for Federal Reserve monetary policy.[...]
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Our monthly view on asset allocation (November 2018)
The month of October introduced a sharp correction to financial markets on the back of concerns about a Chinese slowdown, peak earnings, trade war, the Italian budget and the tightening of US monetary [...]
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