Asset Allocation

Asset class

Multiasset

Topic

2H26 Outlook

Outlook

Strong

View

Positive

Risks

Market Volatility

– Update: July 2026 –

Asset class

Equity

Topic

1Q26 Earnings Update

Outlook

Strong

View

Positive

Risks

Market Volatility

– Update: March 2026 –

Equity

Still Positive on US Equities

March 2026

Commodities

Impact of Higher Oil Prices

February 2026

Economics

Region

US

Reference Period

May 2026

Topic

Inflation

Indicator

US CPI

Investment Implications

Tariff passthrough almost over

– Update: June 2026 –

Region

US

Reference Period

May 2026

Topic

Payrolls

Indicator

Nonfarm Payrolls

Investment Implications

Economic still resilient

– Update: June 2026 –

UK

UK Politics

May 2026

Germany

Germany IFO Index down

April 2026