Our take on the economy
2023 so far
What went up
Most equity and bond markets
Swiss Franc
Investor’s confidence
What went down
Inflation
Commodity prices
Economists' mood
What made the news
Lower inflation
Central banks change in tone
China reopening
Business health
Overall, companies around the world have shown resilience so far. The long-term effect of higher interest rates and inflation are still weighing on revenues. At the same time, decreasing prices lead to more attractive valuations: equities are more affordable for investors.
Resilient
Economic environment
In 2022, the economic environment changed drastically. Higher rates, lower asset prices and slower growth prospects are the new paradigm investors must deal with. While the environment remains challenging, there is also scope for more positive surprises, especially if Central Banks raise rates less aggressively.
Less conducive
Interest from investors
Investors are still divided when it comes to economic prospects, although we all got somehow used to the new market regime. While most economists are expecting a recession in 2023, many investors are taking advantage of lower asset prices and higher interest rates. Opinions diverge when it comes to the specific asset classes and sectors to invest in, this is good for price discovery.
Divided
What this means for investors
1
2
3

Victor Cianni
Chief Investment Officer

Amandine Soudeille
Associate Portfolio Manager
Get more insights
The information provided herein constitutes marketing material. It is not investment advice or otherwise based on a consideration of the personal circumstances of the addressee nor is it the result of objective or independent research. The information provided is not legally binding and does not constitute an offering or solicitation to enter into any type of financial transaction. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the laws of such jurisdiction. Alpian S.A. makes no warranty as to the content, timeliness or the exhaustiveness of the information and therefore disclaims any and all liability for any loss that may occur as a result of using the information. For distribution in Switzerland only. This document may not be reproduced in whole or in part without the written permission of Alpian S.A.. Copyright © 2022 Alpian S.A.. All rights reserved. The content is prepared and owned by Alpian S.A. Registered address at 17 chemin des Crêts, 1209 Geneva, under the supervision of the Swiss Financial Market Supervisory Authority (FINMA).