Pictet Asset Management
Market insights and commentary from Pictet Asset Management.
6 articles
Multi-AssetEquitiesFixed Income
Research
Pictet Asset ManagementMulti-Asset
June Barometer of financial markets outlook | Pictet Asset Management United States
Pictet AM's Strategy Unit upgrades equities to overweight on surging corporate earnings and AI-driven capex growth, while downgrading bonds to underweight amid rising inflation and the prospect of central bank rate hikes across the US, Europe, and Japan. The note also covers regional and sector positioning, fixed income views, and currency stances, with particular emphasis on emerging market local currency debt and a lone overweight in the Japanese yen.
Pictet Asset ManagementMulti-Asset
Impact of Iran war | Pictet Asset Management United States
Pictet Asset Management's senior multi-asset strategist analyzes four conflict scenarios stemming from a US-Israeli military strike on Iran (February 28, 2026), modeling the impact on oil, gold, the US dollar, bond yields, and global equities under each. The firm has moved to a neutral equity stance, upgraded cash to overweight, added put option hedges, and holds high-conviction overweights in gold and the Swiss franc as portfolio buffers.
Pictet Asset ManagementMulti-Asset
February Barometer of financial markets outlook | Pictet Asset Management United States
Pictet Asset Management's Strategy Unit maintains an overweight on equities and underweight on bonds for February 2026, upgrading industrials and increasing EM ex-China exposure on the back of favourable liquidity, solid growth differentials, and muted inflation. The note also covers JGB valuation, a bearish dollar outlook, and overweights in local-currency EM debt, gold, euro, and Swiss franc.
Pictet Asset ManagementMulti-Asset
May Barometer of financial markets outlook | Pictet Asset Management United States
Pictet Asset Management's Strategy Unit presents its May 2026 multi-asset barometer, adopting a modestly pro-risk stance by upgrading US equities, emerging market equities, EM local currency debt, and industrials to overweight, while maintaining a neutral aggregate allocation across equities, bonds, and cash. The outlook is shaped by a Strait of Hormuz conflict driving oil to USD 110–120/barrel, ample global liquidity growing at 7.4%, strong corporate earnings, and diverging regional macro impacts, with Europe at heightened stagflation risk and EMs showing relative resilience.
Pictet Asset ManagementMulti-Asset
April Barometer of financial markets outlook | Pictet Asset Management United States
Pictet Asset Management's Strategy Unit adopts a neutral stance across all major asset classes in April 2026 amid a hypothetical US-Iran war scenario that has triggered an oil price spike above $100/barrel, stagflation fears, and simultaneous sell-offs in equities, bonds, and gold. The piece details tactical shifts including upgrading utilities and maintaining overweights in healthcare, technology, and Chinese equities, while reducing EM equities and EM debt to neutral and increasing exposure to the Japanese yen and Swiss franc as defensive plays.
Pictet Asset ManagementMulti-Asset
March Barometer of financial markets outlook | Pictet Asset Management United States
Pictet AM's Strategy Unit maintains an overweight in global equities and underweight in bonds for March 2026, citing solid global growth, AI-driven capital expenditure, easy monetary conditions, and fiscal stimulus across major economies. Key tactical calls include overweights in emerging market equities and local currency bonds, Swiss equities, gold, industrials, healthcare, and financials, while remaining underweight US Treasuries and neutral on most developed equity markets.