News

In contrast to January, where we saw a general rise in the main stock markets, the tone of the markets turned decidedly more negative in February. The main culprit for this change in direction was the release of some worse-than-expected inflationary data in both Europe and the United States. Upward surprises in economic growth as well as inflation that is struggling to decline significantly have had a consistent impact on expectations regarding the timing and magnitude of future central bank rate hikes, causing a slowdown in the stock market in February and a further sharp rise in bond yields [...]

Closing in 2022, the "annus horribilis" of financial markets, stock markets have rebounded tonically in 2023. January was an extremely strong month for almost all asset classes, the best start to the year for US and European equity markets since 2019 and 2015 respectively. Bonds rallied strongly as well. Indeed, the only major asset that did not rise in January was oil. What drove such a strong month? The answer lies in the market’s expectations of future events and how they have changed since October. Three factors matter most: firstly, a more accommodative tone from the Federal Reserve in [...]

STELINVEST SA is pleased to announce that from 01 January 2023 Mr. Stefano Veri is a member of its Board of Directors. Stefano has over 40 years of experience at UBS as a Senior Top Manager, where he served as Group Managing Director and was one of the top senior manager with the longest career tenue. As a member of various management committees, he actively participated, influenced and shaped the evolution and transformation of UBS Wealth Management in Switzerland and abroad. From 2015 until 2021, he was globally responsible for Global Financial Intermediaries (External Asset Managers). He has in-depth [...]

STELINVEST SA is pleased to announce the promotion of Franco Cardinale to Associate Director and front office support manager. The appointment is effective as of January 01, 2023. We congratulate Franco on his well-deserved promotion and wish him the best professional success.

Major stock indices posted a broad recovery during October despite the absence of particularly positive news from the Ukrainian war and inflation fronts. The European Central Bank raised rates by an additional 75 basis points to 2% in an attempt to contain inflation now above 10%, but this did not provoke negative reactions in the markets. This is because the move was widely expected and secondly, because President Christine Lagarde stated that the potential impact of a recession on inflation will be a key variable in upcoming decisions. The U.S. Central Bank's statements also remain tight-lipped by projecting further [...]

The financial and capital markets are not finding peace even for the month of September and recorded one of the worst months in recent history. The sharp rise in rates led to a valuation adjustment in almost all asset classes. As a result of the inflationary threat, major central banks around the world, after a long period of negative rates and quantitative easing, have starded and continue to apply restrictive monetary policies to counter this phenomenon. The FED raised its benchmark rate to 3.25%, with a latest increase of 0.75% at its last meeting in September, declaring that it [...]