Investment Commentary

June 2026

Switzerland

Moderate Economic Growth Amid Stable Inflation

European Union

Slower Growth Despite Robust Corporate Profits

United Kingdom

USA

Resilient U.S. Economy

China

Export Boom, Consumer Crisis

Japan

On the Rise – Reforms, Technology, and Attractive Valuations

Emerging Markets

Stocks

Selectivity Becomes a Key to Success

Interest

Between the ECB's Rate Hike and the Fed's Pause: Opportunities in the Bond Market?

Currencies

Between Monetary Policy and Geopolitical Uncertainties

Oil

The oil is starting to flow again

Precious Metal

Gold Caught in the Crossfire—Geopolitics Provides Support, While Inflation and Interest Rates Act as Brakes