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Goldman Sachs has revised its outlook, stating that $70 is no longer the floor price for Brent crude oil. European stock markets are expected to show minimal fluctuations as investors await key monetary policy decisions, with no anticipated rate changes from major central banks, except for a likely cut from the Swiss National Bank. Geopolitical developments are also on the horizon, with Donald Trump set to meet Vladimir Putin to discuss the Ukraine conflict, while European discussions on increased military spending and infrastructure funding are intensifying.
Goldman Sachs has revised its outlook, stating that Trump is unlikely to trigger a capital markets boom on Wall Street. This assessment reflects a shift in expectations regarding the impact of political leadership on financial markets.
Oswald Grübel, a prominent figure in Swiss banking, criticizes the idea of capping banker salaries, arguing it undermines market dynamics and could lead to less competent leadership. He praises the swift merger of Credit Suisse with UBS as a necessary move for the financial center, while expressing concern over the public's lack of awareness regarding the importance of Switzerland's financial sector. Grübel also comments on geopolitical issues, including Donald Trump's tariff policies, and warns against closer ties with the EU, emphasizing the need to maintain Switzerland's neutrality.
Investors are anticipating a significant financial package from the German government as the Bundestag prepares to vote on a multi-billion euro economic stimulus plan. Meanwhile, the Federal Reserve is expected to maintain interest rates during its upcoming meeting, with attention on Jerome Powell's press conference for further insights. Key economic indicators, including US retail sales and the ZEW index, will also be closely monitored this week.
Danske Bank is increasing several mortgage rates due to rising market interest rates. Fixed-term mortgages will see increases ranging from 0.05 percentage points for 1-year terms to 0.30 percentage points for 10-year terms, while rates for 3-month and 2-year maturities remain unchanged.
Morgan Stanley strategists believe the S&P 500 will find support at 5500, potentially leading to a tradable rally, despite recent declines attributed to negative earnings revisions and policy uncertainties. They caution that if the index fails to hold this level, it may signal faster-than-expected growth deterioration and increased recession risks. The firm maintains a year-end target of 6500 for the index, emphasizing the importance of monitoring key economic indicators.
Morgan Stanley strategists believe the S&P 500 will see a tradable rally, with 5500 serving as a crucial support level after recent declines. They note that the index is in oversold territory and expect improvements in sentiment and seasonal trends, despite ongoing policy uncertainties that could impact growth. The firm maintains a year-end target of 6500 for the index, while monitoring key economic indicators to gauge recession risks.
Gold prices remain near record highs, hovering around $3,000 an ounce, driven by safe haven demand amid trade tariff uncertainties and geopolitical tensions in the Middle East. UBS has raised its price target for gold to $3,200 per ounce, reflecting increased investor interest in gold ETFs as a stable investment during turbulent times.Copper prices are steady, supported by expectations of stimulus measures from China, while concerns over potential U.S. tariffs on copper imports could tighten supplies.
UBS CEO Sergio Ermotti earned nearly 15 million Swiss francs for 2024, comprising CHF2.8 million in fixed pay and CHF12.1 million in variable pay, amid scrutiny over bankers' compensation in Switzerland. This package is slightly higher than the 14.4 million francs he received for nine months in 2023. The bank's board of directors will earn 14 million francs for the 2024-2025 period, reflecting a broader focus on aligning compensation with performance and risk appetite.
Swiss nationals living abroad face significantly higher bank fees compared to those residing in Switzerland, with costs up to 30 times greater. While traditional banks impose steep charges, digital and neo-banks like Yuh and Yapeal offer more affordable alternatives. It is advisable for emigrants to negotiate with their banks before moving to secure better conditions.
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global markets brace for monetary policy decisions amid geopolitical tensions
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s and p 500 poised for rally as support seen at 5500
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gold prices near record highs as geopolitical tensions and tariffs rise
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ubs ceo sergio ermotti awarded nearly 15 million swiss francs for 2024
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