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Global economic growth is faltering markedly and indicators point to an extended period of subdued growth. Although easing bottleneck pressures points to a material drop in inflation during the second half of 2022, will this be enough to calm central banks?

Im September trafen die Befürchtungen einer weltweiten Rezession und einer Straffung der Geldpolitik die Kapitalmärkte hart: Sowohl globale Aktien als auch globale Staatsanleihen gaben nach, als die Fed und die EZB ihren Straffungszyklus fortsetzten.

Senior hire enhances the firm’s Media & Telecom team in New York and further expands the Global Advisory business in North America.

At different paces, and with varying displays of conviction and credibility, western central banks are continuing to raise interest rates, closing the stable door ever more firmly as the inflation horse canters merrily on the horizon. As we write, the rates priced into the money markets suggest that US, eurozone and UK policy rates will peak at 4.6%, 2.9% and 4.9% respectively, and will do so during 2023. Swiss rates are expected to peak at 2.2%, during 2024.

Sterling has fallen further after the UK's "fiscal event", making higher interest rates even more likely. However, its all-round weakness is being overstated, as is the threat to the UK government's creditworthiness.

Fernanda will work closely with Client Adviser teams, focused on optimising relationships with clients.

Die mittelständischen Unternehmen in den USA sind ein wichtiger Motor der US-Wirtschaft. Diese Unternehmen erwirtschaften einen Gesamtumsatz von 10 Billionen USD und beschäftigen rund 50 Millionen Arbeitnehmer, was sie zu einer attraktiven Investition auf dem Privatmarkt macht.

It is the worst calendar year return (so far) for bonds, some value may finally be re-emerging in the high-quality government bonds that comprise the core of the global market. Is it time to retire the acronym TINA (‘There is No Alternative’)?

David de Rothschild is appointed Honorary Chairman of the Rothschild & Co Supervisory Board. Marc-Olivier Laurent is appointed Chairman of the Rothschild & Co Supervisory Board

Senior hire strengthens the firm’s Industrials team and further expands the Global Advisory business in North America.

In einem volatilen Monat machten die Kapitalmärkte ihre anfänglichen Gewinne im August wieder zunichte: Sowohl die weltweiten Aktien als auch die weltweiten Staatsanleihen gerieten unter Druck, nachdem die US-Notenbank signalisiert hatte, dass die Zinsen in den USA weiter steigen und länger hoch bleiben werden.

Will another bad UK CPI hit growth? Real pay fell sharply in the last year after rising unexpectedly over the pandemic. Did consumers get used to that higher level of pay? If not, wiggle room now may be higher.

The US headline inflation rate softened in July, though there is still uncertainty over its trajectory going forward. In this Strategy Blog, we highlight a few important observations which suggest that this may not have been another false summit.

World GDP likely shrunk in Q2 2022 – for the first time since the 2020 pandemic related decrease – owing to economic downturns in China, Russia and the US. Is bad news truly good news?

Senior hire strengthens Debt Advisory team and further expands Global Advisory business in the Americas.

The current challenge for central banks is to restore low and stable inflation, while preserving financial stability and averting a recession. A task that looks less likely now than a few months ago.

Die Stimmung unter den Anlegern hat sich seit der Marktperspektive vom Mai eingetrübt. Objektiv gesehen hat sich jedoch wenig geändert. In dieser Ausgabe erörtern wir die Risiken, die nach wie vor vom Ukraine-Konflikt ausgehen, warum die US-Wirtschaft näher an einer technischen Rezession ist, als wir zunächst dachten, und die Volatilität der Märkte.

While dramatic daily fluctuations in stock market indices are alarming, the current volatility in bond markets is perhaps even more concerning. In this Strategy Blog we examine the relationship between these asset classes amid this challenging investment landscape.

Die Volatilität war bei Aktien und Anleihen weiterhin hoch. Globale Aktien fielen stark und erreichten Mitte des Monats kurzzeitig ein neues Jahrestief, ebenso wie globale Staatsanleihen.

Rothschild & Co announced that Michael Buchbinder and Patrick Mastan are joining its Global Advisory business as Managing Directors in the Technology team. These senior hires represent the expansion of Rothschild & Co’s Technology sector team in the U.S., which is led out of its Los Angeles office, to expand sector coverage on the East Coast.

While dramatic daily fluctuations in stock market indices are alarming, the current volatility in bond markets is perhaps even more concerning. In this Strategy Blog we examine the relationship between these asset classes amid this challenging investment landscape.

Investors still hope the Goldilocks scenario of moderating inflation and supply-led growth will emerge in H2 2022, although the recent trends in bottlenecks and the labour market call for caution.

Die Kapitalmärkte waren im Mai volatil. Nach der längsten Serie wöchentlicher Verluste bei den wichtigsten Aktienindizes seit 2001 erholten sich die Aktien bis zum Monatsende, während die regionalen Anleiherenditen divergierten.

While market and consumer sentiment paint a dismal picture, the hard data points to a more positive outlook.

Consumer prices continue to surge across the globe, reaching record highs in western economies. In this Strategy Blog, we assess the causes of this inflationary pressure, how policy makers are responding (or not), before discussing how this might pan out in the coming months

Following the biggest one-day fall in US stock markets since mid-2020, Kevin Gardiner examines some of the factors influencing market volatility and considers whether, in an environment of low consumer confidence and inflationary pressures, economic growth can still continue.

Senior hire further strengthens the firm's leadership and expertise in the consumer retail sector.

Rothschild & Co is rebranding its operations in Luxembourg following the recently completed acquisition of Banque Pâris Bertrand.

Almost two months after the initial invasion, the ultimate conclusion of the Russia-Ukraine crisis remains uncertain. While the knock-on effect on energy supplies remains a concern, robust growth and labour markets provide some optimism as we await the realisation of more substantive interest rate rises.

In der neuesten Ausgabe von Mosaique Insights, unserer Kundenpublikation, befassen wir uns eingehend mit der Weltwirtschaft, der Behavioral Finance und den jüngsten geopolitischen Ereignissen.

The global economy is facing three interrelated shocks. New Covid-19 cases are once again gaining momentum in Europe and Asia – especially in China – worsening supply chain disruptions. In addition, the war in Ukraine will hinder global growth through many different channels. Lastly, central banks are under significant pressure to quickly normalise policy stances.