Markets

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.

Alternatives · 06 Dec 2024

Unlocking hidden wealth: the rise of private assets

Amid low interest rates and increased market volatility, private assets have enjoyed solid growth as investors adopt a longer-term view in the hope of strong returns.

Alternatives · 07 Nov 2022

The biotech firm building the drug-hunting factory of the future

The work behind Eikon’s groundbreaking technology has already won a Nobel Prize. Now CEO Roger Perlmutter is on a mission to help the company realise its full potential.

Alternatives · 13 Sept 2022

With her climate-tech venture Sweep, Rachel Delacour has no time to lose

The co-founder and CEO of the French carbon-management platform wants to prove that it is possible to create value for investors and employees, while helping to protect the planet.

Alternatives · 05 Jul 2022

General Atlantic’s Gabriel Caillaux on what it takes to be successful in private markets

Having worked for one of the world’s leading growth-equity investors for almost two decades, Gabriel understands that growth ‘doesn’t happen by miracle’. Here, he shares some valuable insights that are relevant for anyone interested in exploring private assets.

Alternatives · 11 Nov 2021

Private Assets, the ultimate form of active management: Myth or Reality?

Jonathan Gray, president and chief operating officer of US private equity group Blackstone spoke recently to Pictet Wealth Management’s Chief Investment Officer César Pérez Ruiz about the macro background and how the market for private assets is changing.

Alternatives · 17 Aug 2021

Investing in infrastructure

Infrastructure assets form the spine of an economy. They are the physical structures and vital services that connect society and facilitate its orderly operation. Typically capital-intensive to construct and with long operating lives, infrastructure assets produce inflation-adjusted revenues that generate long-term, sustainable cash flows. Due to high barriers to entry, these assets also tend to benefit from a relatively low price elasticity of demand.

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.

Currencies · 21 Jul 2026

Navigating FX volatility

The US dollar, long seen as a safe haven, is facing new pressures. Recent US policies have raised questions about the Federal Reserve’s independence, pushed inflation higher and expanded government debt. In this climate, we favour assets that governments cannot print.

Currencies · 14 Feb 2024

Currency strength puts pressure on Swiss central bank

After a sluggish start, we see growth picking up and benign inflation. But a strong franc could convince the Swiss National Bank to cut rates twice this year.

Currencies · 20 Jul 2023

Currencies: US dollar

The US dollar may prove volatile in the coming months.

Currencies · 22 Dec 2022

Our 2023 outlook for currencies

A volatile end to US dollar outperformance.

Currencies · 04 Oct 2022

US dollar entering extreme territory

But short-term outlook for the US dollar remains positive.

Currencies · 13 Jul 2022

Yen’s risk-reward profile becoming more attractive

How the interest-rate gap between the US and Japan evolves will likely remain the main determinant of the yen’s performance in the months ahead.

Currencies · 08 Jul 2022

The euro faces growing downside risks

Having already declined against the US dollar this year, we have lowered our forecasts for the single currency to take account of the fall-out from energy concerns.

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 · 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.

Equities · 01 Sept 2022

The Swiss equity market: not to be ignored

Its defensive tilt explains a relatively high valuation.

Equities · 31 Mar 2022

China: a time for active management

Despite signs of economic stabilisation and low valuations, we remain cautious on Chinese equities.

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 · 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

Fixed Income · 06 Apr 2023

Bonds’ roller-coaster ride may not be over yet

We believe market pricing of Fed rate cuts this year is premature, opening up the chance of a small rebound in two-year Treasury yields.

Fixed Income · 17 Feb 2023

Our 2023 outlook for Italian sovereign bonds

A ray of sunshine through the clouds.

Fixed Income · 12 Jan 2023

Our 2023 outlook for emerging-market bonds

We expect Asian corporate bonds to make a comeback this year thanks to Chinese re-opening, while local-currency bonds could be helped by an end to US rate rises and currency trends.

Macroeconomics · 25 Sept 2026

Energy independence and access to commodities in the era of electrification

Energy independence and secure access to commodities have become central to economic policy in the 2020s, shaped by geopolitical uncertainty, market volatility and the global climate transition.

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 · 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.

Perspectives · 03 Aug 2022

César Pérez Ruiz shares his “3 on the 3rd” for August

César's top 3 summer reading recommendations

Perspectives · 02 Aug 2022

House View, August 2022

Perspectives · 04 Jul 2022

House View, July 2022

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

Perspectives · 03 Jul 2022

César Pérez Ruiz shares his “3 on the 3rd” for July

César Pérez Ruiz on Chinese equities, Japanese yen & Macro strategies

Perspectives · 07 Jun 2022

The evolution of corporate governance best practice

Corporate governance best practices around the world have evolved considerably over the last two decades. This has been driven by a combination of both bottom-up and top-down initiatives. One notable outcome of both drivers is the ascendancy of corporate social responsibility (CSR) as a business priority.

Perspectives · 03 Jun 2022

House View, June 2022

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

Perspectives · 04 Apr 2022

House View, April 2022

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

Perspectives · 03 Mar 2022

César Pérez Ruiz shares his “3 on the 3rd” for March

César Pérez Ruiz on Defensive growth, Macro hedge fund strategies & The new Marshall plan