Our latest articles, market insights and CIO Flash Notes — all in one place.
CIO Flash Notes · Michel Schiffelholz
We are launching our Thematic Alpha
4 August 2026
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Article3 days ago60 views
Our report's title echoes the situation in France, which we revisit this week. It comes amid such nervousness in the bond markets that signs of stress reminiscent of the 2011-2012 sovereign debt crisis have reappeared. But in a deliberate…
Quarterly8 days ago106 views
The third quarter of 2026 showed that June’s oil pullback was only a temporary respite. From July onwards, the collapse of the memorandum of understanding between Washington and Tehran, the renewed blockade of the Strait of Hormuz and the…
Article11 days ago152 views
Back to square one. While there were some positive signals last week regarding a potential reopening of the Strait of Hormuz, expectations rapidly turned sour. Maritime traffic in the Middle East remains deadlocked, and energy prices keep…
Article16 days ago261 views
Following the strong performance of North Asian equity markets over recent months, we have decided to lock in part of the gains generated in Taiwan and South Korea , while further diversifying the portfolio’s sources of return. We are…
Article22 days ago185 views
The sharp rise in bond yields over recent months is increasing pressure on fiscal authorities to proceed with caution. Although the effective interest rate paid on outstanding public debt remains significantly below current market yields,…
Article29 days ago245 views
Recent price action across asset classes shows that geopolitical uncertainty continues to cap investor sentiment despite robust earnings growth projected into 2027. While conflict de-escalation remains elusive, Brent crude prices hovering…
Article3 September 2026242 views
In this report, we analyse the factors that drove bond yields sharply higher over the summer and assess which of these may reverse. This is the second instalment of our year-end outlook, focusing on rates. Last week, we outlined our…
Article25 August 2026299 views
The summer was hot on multiple fronts. Renewed geopolitical tensions kept investors on edge, while their spillover effects on energy markets and inflation expectations pushed bond yields higher. Although uncertainty remains elevated and…
Article21 August 2026289 views
The stabilization of the luxury market, driven by new growth engines and new consumption dynamics, is opening a healthier and more diversified cycle. This momentum places the major luxury players at the heart of a transformation that is…
Article18 August 2026328 views
Renalco SA is pleased to unveil two additions to its website: a new Strategies section open to all visitors as well as a secured PRO area reserved for professional and institutional investors. Together they give a clearer insight into our…
Article23 July 2026513 views
As renewed geopolitical tensions fuel inflation concerns while the technology, infrastructure and defence supercycle sustains robust earnings growth, markets are approaching a critical inflection point. With the earnings season now…
Article9 July 2026586 views
We are relaunching our Key Calls series. This is a work in progress that will be updated and expanded. #1: Stay OW equities on robust earnings growth and the Tech, infrastructure, and defence supercycle. Global Tech delivered stellar…
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