All search results for

This week we focus on the big fall in US Magnificent 7 shares. There may now be opportunities to buy Nvidia, where the P/E ratio has fallen to 27 times, but where revenue growth is expected to be 64% in the current quarter. Another example is Alphabet, which is valued at less than 20 times earnings. The Federal Reserve (Fed) is not expected to change rates at today's meeting. However, compared to the ECB's (European Central Bank) rate path since April 2024, there is potential for the Fed to cut rates later in 2025.

I recently had the pleasure of attending an in-depth review of the macro picture by a French economist. She started by highlighting where she had been wrong in 2023, and then drew up new forecasts for 2024. In sum, she gave a good picture of the changes we have seen in the consensus view of the market, and it is therefore interesting to highlight some points.

Heading into 2024, the situation in most western stock markets must be described as good. In the US, the S&P 500 and NASDAQ 100 are trading close to all-time highs, as are European indices such as Norway's OSEBX, Sweden's OMXS30, Denmark's OMXC20, Germany's DAX and the EU's EURO STOXX 50. Markets that trade close to their historically high levels can hardly be called anything but good.

For much of 2023, the gold price faced a headwind from rising interest rates. Now, the tide has turned towards falling interest rates, which will benefit cyclicals and real estate stocks in particular. However, we believe that gold will soon start to rally as central bank easing has historically often been bullish for gold. From a technical point of view, the index charts are less convincing.

Much of what is written about markets is about whether some asset is considered "cheap" or "expensive", and the writer builds a case for whether prices should go up or down. We hear about low and high Price/Earnings (P/E), rise or fall in cost of capital and various scenarios for future growth. There is undoubtedly a lot of intelligence, reason and experience behind this, and occasionally they hit the spot.

Exchange-traded products are a broad category that allow for leveraged investments in assets that might otherwise be inaccessible to private investors

From sustainable investment solutions to community involvement and environmental sustainability: corporate responsibility has a long tradition at Vontobel. It is perceived in all its complexity - and regularly receives awards.

With Bull & Bear certificates, investors can participate in the ups and downs of markets worldwide. The certificates offer investors the option of putting their market opinion into action according to their own appetite for risk. Bull & Bear certificates allow investors to participate with leverage in the performance of equities, indices, currencies, or commodities.

Have you sustained losses with a constant leverage certificate? Would you like to know why the constant leverage certificate is seeing disproportionate losses compared with the underlying reference instrument (for example, equities, indices, currencies or commodities) when there are strong price movements in the opposite direction? Why did you sustain losses although you bet on the right market movement? What does an intra-day index adjustment do? Here you can find out what an intra-day index adjustment means for you after the loss threshold (or barrier) has been exceeded.

Constant leverage certificates offer a simple and efficient way to participate in stable price trends, whether they are rising or falling. They do so by leveraging the daily price performance of a so-called reference instrument, for example a share or an index. This allows investors to participate disproportionately in the performance of this reference instrument. The factor – i.e. the leverage – remains constant, and so the investment is equivalent to a reinvestment on a daily basis.