Monthly Comments

September was characterized by solid risk appetite as investors continued to add capital to the stock market, leading to new record highs in U.S. indices, with the tech sector remaining the main driver. Chinese technology companies also performed...

During August, market movements remained relatively modest despite increased geopolitical tensions. Trump made new tariff-related statements as well as other political remarks and measures, such as the dismissal of Fed board member...

During July, the financial markets mainly focused on the continued trade talks between the United States and the rest of the world, as well as the Q2 earnings reports. The U.S. and Europe finally agreed on a trade deal in which 15% tariffs are imposed on...

June was dominated by escalating geopolitical tensions in the Middle East after Israel bombed targets in Iran, which led to Iranian counterattacks and U.S. involvement when the United States bombed Iranian nuclear facilities. Despite the dramatic...

During the month of May, we saw a recovery in the financial markets, although uncertainty remains present. We received new statements from Trump, but his tone has been softer and more market-friendly. Among other things, Trump announced that...

2025 began with optimism – falling inflation, interest rate cuts, and a forecasted economic upswing contributed to a strong start. However, the situation shifted during February and March. Signs of a weakening economy combined with rising inflation have instead increased the risk of...

February has been an eventful month, with Donald Trump's often contradictory statements following one another in rapid succession. Continued remarks about new tariffs against both allies and enemies have created uncertainty in the market, even though...

The beginning of 2025 was eventful, with a strong focus on the United States, where Donald Trump began his second presidential term with extensive measures. He imposed punitive tariffs of 25% on Mexico and...

2025 began with optimism – falling inflation, interest rate cuts, and a forecasted economic upswing contributed to a strong start. However, the situation shifted during February and March. Signs of a weakening economy combined with rising inflation have instead increased the risk of...

The final month of the year saw mixed developments with significant movements and overall declining indices, while long-term interest rates rose. The Federal Reserve (FED) cut interest rates during the month to a...