Our take on the economy

2022 so far


What went up

Interest rates


Swiss Franc

Commodity prices


What went down

Most equity and bond markets

Digital assets

Purchasing power

Investor’s confidence and trade activity


What made the news

Ukraine invasion and economic sanctions

Central banks change in tone

Business health

Overall, companies around the world are showing resilience. However, with increasing inflation and interest rates, it’s becoming more challenging to grow revenue, preserve margins and finance operations. At the same time, decreasing prices are leading to more interesting valuations: equities are more affordable for investors.


Economic environment

Over the past few months, economies had to adapt to a variety of shocks that came suddenly and that were not expected to last: Higher inflation, war, economic sanctions, and energy and food crises. It’s a tough winter ahead in an environment that is less conducive to business.

Less conducive

Interest from investors

Investors have been on an emotional roller-coaster since the beginning of the year. Their daily life has featured a slew of negative news, plunging asset prices, and a looming recession. Many have repositioned their portfolio more conservatively, taking money off the table and waiting for better days to come.


What this means for investors


It’s not the time to question your long-term plans, but to brace yourself for further turbulence.


Each crisis provide opportunities. Cards are being redistributed between the different asset classes and it’s worth repositioning portfolios.


With both a challenging economic environment and low interest from investors, keeping an eye on companies’ health is the best move right now.
Schuyler Victor

Victor Cianni

Chief Investment Officer


Amandine Soudeille

Investment Analyst

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