Perspectives Pictet

While de-escalation looks possible, there is a risk that tensions rise further, with implications for the global economy and financial markets.The move by Saudi Arabia and its allies to cut diplomatic relations with Qatar and impose a de facto blockade of the country abruptly deepens a key line of fracture in the Middle East. There is a risk that tensions rise further. If Qatar turns to Iran for support, a direct escalation between Saudi Arabia and Iran would be possible. A de-escalation,...

駕駛開車經過宜蘭龍德工業區，卻在大十字路口，遇上一台機車竟然直接要，從對向車道切到駕駛車的前方，差一點煞車不及撞上去。

The May nonfarm payroll report was mixed, but still unlikely to modify the case for a Fed hike this month. We still expect the Fed to raise rates twice more this year (in June and September).May was a mixed month for US employment data. Job creation was softer than expected, the figures for the previous couple of months were revised down and average hourly earnings data were somewhat disappointing. However, the unemployment rate unexpectedly fell further, reaching its lowest level since...

A new daily fixing mechanism gives the Chinese central bank more control over the exchange rate and reduces pressure on the renminbi in the case of renewed dollar strength.The People’s Bank of China (PBoC) recently announced the introduction of a “counter cyclical adjustment factor” (CCAF) to calculate the daily USD/CNY reference rate (the “fixing rate”). The previous formula used two factors: the USD/CNY spot close of the previous day and an adjustment factor taking into account overnight...

[embedded content] Published: Wednesday May 31 2017The fourth edition of the Latam Family Office Master Class took place in Nassau from the 3rd to the 5th of April 2017, with more than 65 guests attending. This year the focus was around family governance, geopolitics, technology and alternative investments. Among the speakers, we had the pleasure of welcoming former Governor of Florida, Jeb Bush; Argentina’s one-time Minister of Economy, Alfonso Prat-Gay; Yuri Van Geest, Founder of...

Although flash inflation was down in May, we expect core prices to pick up gradually and the ECB to move very cautiously toward policy normalisation.Euro area ‘flash’ HICP inflation came in at 1.4% y-o-y in May (down from 1.9% in April) while core inflation eased to 0.94% (down from 1.2%), both slightly below consensus expectations, as energy-related base effects and Easter distortions faded. We forecast euro area inflation to remain relatively stable in the next few months before core...

The fourth edition of the Latam Family Office Master Class took place in Nassau from the 3rd to the 5th of April 2017, with more than 65 guests attending. This year the focus was around family governance, geopolitics, technology and alternative investments. Among the speakers, we had the pleasure of welcoming former Governor of Florida, Jeb Bush; Argentina’s one-time Minister of Economy, Alfonso Prat-Gay; Yuri Van Geest, Founder of Singularity University, Netherlands and Joseph J.Sitt, CEO...

The fourth edition of the Latam Family Office Master Class took place in Nassau from the 3rd to the 5th of April 2017, with more than 65 guests attending. This year the focus was around family governance, geopolitics, technology and alternative investments. Among the speakers, we had the pleasure of welcoming former Governor of Florida, Jeb Bush; Argentina’s one-time Minister of Economy, Alfonso Prat-Gay; Yuri Van Geest, Founder of Singularity University, Netherlands and Joseph J.Sitt, CEO...

Analysis suggests that earnings growth should reach double digits in most major markets, helping to underpin equity markets.Corporate earnings growth for Q1 2017 surprised positively across major economies. Among the key trends of this earnings season has been the synchronisation not only of the macroeconomic cycle, but also the earnings cycle. Indeed, all markets exhibited strong trends in corporate profit growth. In particular, Japan and Europe provided significant positive surprises. The...

May.29 -- Frederik Ducrozet, senior economist at Banque Pictet & Cie, and Shaun Osborne, chief FX strategist at Scotiabank, talk about the reduction of the Fed's balance sheet, and what the euro says about European Central Bank policy. They speak on "Bloomberg Markets."