Asset Manager

The comparison is increasingly common. Luxembourg is often described as the Singapore of Europe. It is meant as praise, and rightly so. But the comparison deserves refinement, because it cuts both ways.

An uptick of volatility in the dollar is forcing European investors to confront an awkward choice. With hedging already expensive, some are paying up to protect against further weakness. Others are opting to take the risk, arguing the bulk of the adjustment may already be behind them.

Jerome Powell is stepping down as chair of the Federal Reserve. Kevin Warsh will succeed him. For investors, the big question is whether US central bank policy will really change. The short answer: yes, possibly. And the reason is AI.

Europe’s failure to complete its capital markets integration carries a measurable economic cost of around 150 billion euro per year in lost investment, according to a new report from the Citi Institute. Over a ten-year period, the drag on economic growth could amount to roughly 1.5 percent of GDP.

Almost daily, I find myself amazed at how people simply refuse to see certain things. On the street, in politics, but also in the financial markets.

Strong demand for gold from central banks and the relatively small position held by private investors in the precious metal will push the gold price higher in 2026, Carmignac expects. Even so, the asset manager has slightly reduced its allocation to gold.

Corporate bonds, particularly high yield bonds, had a strong 2025 but portfolio managers remain cautious going into 2026.

The European Central Bank (ECB) finds it wonderful to see that the euro is gaining popularity around the world, now that the image of the US and, in its wake, the dollar, is suffering from US policy and the country’s stance on the global stage.

Academic researchers in Europe and the United States are finding that prices on Polymarket, a fast-growing online prediction market, can track real-world outcomes with surprising accuracy. The findings suggest such platforms could become a useful tool for professional investors.

This weeks people moves update from Investment Officer.