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En octubre, las expectativas de una ralentización del ritmo de las subidas de los tipos de interés y una temporada de resultados mejor de lo esperado impulsaron el sentimiento: la renta variable mundial subió considerablemente, mientras que la deuda pública mundial se mantuvo sin cambios.

The UK Autumn Statement reflected a near-term loosening of fiscal stance, perhaps a surprise given the general talk of 'Austerity II' beforehand. In this Strategy Blog, we share our thoughts on the statement.

Senior hire supports the development of our Global Mining & Natural Resources and Investor Advisory businesses.

Wintrust to expand its Investment Management business, enters into agreement to acquire North American Asset Management units from Rothschild & Co.

Solid revenue performance despite a more uncertain and difficult environment.

The fiscal fiasco of the former PM’s minibudget put the UK economy centre stage – adding to the fiscal, monetary and geopolitical headlines. Looking beyond these issues, this edition of Market Perspective examines threats to growth, inflation and broader systemic risks.

En octubre, las expectativas de una ralentización del ritmo de las subidas de los tipos de interés y una temporada de resultados mejor de lo esperado impulsaron el sentimiento: la renta variable mundial subió considerablemente, mientras que la deuda pública mundial se mantuvo sin cambios.

While private debt is an attractive investment strategy, we analyse the risks of private debt investments and show why the choice of manager is so important.

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?

Our Global Advisory business is named 2022’s Independent Investment Bank of the Year, and Investment Bank of the Year for M&A and for Restructuring.

En septiembre, la preocupación por una recesión mundial y el endurecimiento monetario afectaron duramente a los mercados de capitales: tanto la renta variable como la deuda pública mundial bajaron mientras la Fed y el BCE continuaban su ciclo de endurecimiento.

In his role, Mr Bossart will apply his advisory experience to clients in Switzerland and bring Rothschild & Co’s global platform to them.

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.

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

The sticky nature of today’s inflation remains the key risk to the global growth outlook. In this Market Perspective, we explore the macro and market backdrop – including a deep dive into the global inflation trajectory – along with the upcoming political calendar.

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

As a country with an extremely vibrant economy, where personal wealth is growing fast, Israel is a key market for Rothschild & Co, with huge potential for its Wealth Management business

UK inflation, already at uncomfortable levels, is set to grind higher, peaking at 13% by year-end – according to the Bank of England – followed by only a gradual descent to perhaps 6% by the end of 2023.

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.

Strong first half performance.

A pesar de la continua preocupación por el crecimiento mundial y la inflación, los mercados de capitales se recuperaron en julio: la renta variable mundial subió considerablemente, después de haber tocado el mínimo del año en junio. La deuda pública mundial también registró fuertes ganancias.

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.

The investment mood has darkened since May’s Market Perspective. Objectively, however, little has changed. Within this edition, we discuss the risks still being posed by the Ukraine conflict, why the US economy is closer to a technical recession than we first thought and the volatility within markets.

While the overriding narrative often deems ‘sticking to one’s guns’ as an admirable choice, as investors, we recognise the value of altering one’s approach where necessary. In this Quarterly Letter we discuss the language and psychology behind this phenomenon, and why changing your mind is so essential to long-term investing.

Senior hire provides leadership and expands sector coverage to drive the firm’s growth in the Canadian market.

Rothschild Martin Maurel has won the Silver Award for Positive Finance awarded by Leaders League and Décideurs Magazine.

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.

Capital markets were volatile through May. After the longest series of weekly losses for major equity indices since 2001, equities recovered by month-end, while regional bond yields diverged.