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Equities are priced to perfection, yet we remain constructive but cautious, while staying upbeat on gold, where we have raised our conviction rating to 5/5.

From the resurgence of Switzerland as a wealth hub, the value of global diversification, and the personal journey that shaped Teresa Lee's leadership philosophy.

Union Bancaire Privée (UBP) is a leading partner for external asset managers (EAMs). With decades of experience working alongside EAMs, UBP stands out for its expertise and long-standing commitment to this strategic clientele. SPHERE spoke with key managers from the team to understand how the Bank is responding to the evolving needs of EAMs while consolidating its position as a market leader.

Divergent remarks from Federal Reserve members combined with US macroeconomic data that was generally resilient have weighed on optimism for future rate cuts. Attention now turns to this week’s labour market report as a key gauge of job creation, while President Trump is set to meet Democratic and Republican leaders in an effort to avert a government shutdown.

The region’s sovereign wealth funds along with a growing number of institutional investors and family offices, are deploying increasing volumes of capital into private markets.

Colleagues from our Jersey and Zurich branches recently came together to make a meaningful impact on local ecosystems through inspiring CSR volunteering initiatives.

Just as tectonic plate movements can trigger earthquakes and reshape landscapes, financial tectonics shifts are being driven by three forces that are compelling investors to rethink their approach to bond markets: the fragmentation of the global economy, fiscal indiscipline, and the tsunami of passive investing.

Equities progressed following the US central bank’s 25 basis points rate cut to 4.00–4.25%, which helped fuel investor optimism. Alongside the Fed, several central banks, including the Bank of England (BoE) also met, with the latter leaving its rates unchanged at 4%. This week, attention turns to economic indicators.

Impact investing can generate competitive returns while addressing global challenges. Here, we set out our approach to this asset class, which brings great diversification benefits to a portfolio.

In September, gold rose to new all-time highs, approaching USD 3,700 per oz. The upward move reflected several factors.

Equities advanced over the week on expectations of a first Fed rate cut on 17 September. Investors will scrutinise the Fed’s commentary for guidance on further potential cuts in October and December, moves which have largely been priced in by the markets. Policy meetings are also scheduled at the Bank of Canada (BoC), the Bank of England (BoE), and the Norges Bank, with the European Central Bank (ECB) having decided last week to leave its key rate unchanged at 2%.