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Despite Nvidia’s stronger-than-expected results and upbeat guidance, investor sentiment remained fragile. A mixture of fatigue and doubts about AI, shifting expectations for a potential Federal Reserve rate cut in December, and a rise in long-term Japanese yields fuelled sharp swings across equity markets. This week, investors will closely monitor the continuing Russia–Ukraine discussions for signs of an end to the conflict.

Nicolas Faller sprach mit Finanz und Wirtschaft über die jüngsten Veränderungen in der Investitionslandschaft, insbesondere auf den Privatmärkten, und darüber, welche Auswirkungen diese in Verbindung mit der einzigartigen wirtschaftlichen Lage der Schweiz auf die Investitionsströme haben.

Doubts over a December interest rate cut by the Federal Reserve and concerns over the scale and timing of AI-related capex weighed on sentiment, underscoring the fragile market landscape. Now that the US government’s 43-day shutdown has ended, investors are awaiting the delayed September non-farm payrolls report this week. The publication of the minutes from the Federal Reserve’s meeting and Nvidia’s earning report, both on Wednesday, will be also closely scrutinised.

Viele Babyboomer befinden sich zurzeit in der Entsparphase ihres finanziellen Lebens. Ihre Prioritäten haben sich vom Vermögensaufbau zur Einkommensstabilität verlagert. Im aktuellen Umfeld messen sie Diversifizierung und regelmässigen Erträgen (beispielsweise aus Kupons) grössere Bedeutung zu. Als Anleger schätzen sie die stabilen Renditen von Anleihen, insbesondere wenn sie mit Volatilitätsmanagement einhergehen, sowie die Diversifizierung, die diese Anlageklasse an sich und besonders Schwellenländeranleihen mit sich bringen.

In the US, stronger corporate investment, resilient household spending, and the prospect of monetary easing led us to upgrade our outlook on US growth for 2026. This improved economic momentum reinforces our high-yield bond conviction of 4/5 and reaffirms our positive stance on US equities of 4/5.

Ten years on from the Paris Agreement, COP30 is being held at an extremely pivotal moment for climate change action, the global community, and the Earth itself. The COP30 President, Ambassador André Corrêa do Lago, has called for the accelerated implementation of the Paris Agreement at this critical time, hoping that COP30 will be a summit of solutions. As is tradition at UBP, we have put together our own wish list for what we hope can be achieved at this year’s COP summit.

Scepticism and fatigue surrounding artificial intelligence (AI), coupled with the ongoing US government shutdown and mounting concerns about the labour market, weighed on investor sentiment. The global technology sector declined, despite a steady stream of upbeat news related to AI. As the earnings season draws to a close, markets are now looking for supportive macroeconomic signals to restore confidence.

The European office market is undergoing a profound transformation, driven by shifting tenant expectations, environmental priorities, and evolving investment trends. Here, Union Bancaire Privée’s (UBP) experts examine how these changes are reshaping the sector and where opportunities may lie for forward-thinking investors.

UBP’s Alternative Investment Solutions team has reported strong performances for Q3 2025 and here share their strategic insights for Q4 and beyond.

Union Bancaire Privée, UBP SA (“UBP”), one of the world’s largest family-owned private banks headquartered in Geneva, Switzerland, has officially opened an office in Riyadh, marking a key milestone in the Bank’s long-term regional growth strategy and deepening its commitment to the Saudi market.

The Fed's 25-bp rate cut, paired with Powell's cautious tone on further rate reductions, led to mixed market reactions. Despite this, strong earnings, particularly in the tech sector, supported equities, while bond yields rose. The USD strengthened amid JPY weakness, and gold consolidated at around USD 4,000. With the eurozone showing modest growth and US consumer confidence declining, investors are focused on another heavy week of earnings and key data releases for further direction.