Silver breaks with tradition as structural shortages take hold
The silver price appears to be breaking with its traditional pattern. Where the metal has historically followed gold with a delay, silver is now moving more independently and at a faster pace. According to market participants, the recent rally is less a reaction to geopolitical tensions than the result of structural changes in the balance between supply and demand.
The expectations paradox
When everyone expects the same thing, it is time to think differently. A good example comes from Value Line, a company that makes stock market forecasts. They predict higher returns when valuations are low. Individual investors do exactly the opposite.
Chart of the week: you wouldn’t expect it, would you
An insignificant Danish pension fund dumps all its US Treasuries. Financial media eagerly jump on this headline, because that is not something most investors would just expect. About the underlying structural cause, which has little to do with a president gone off the rails, you hear a lot less.
Morningstar: NinetyOne vs Morgan Stanley in global emerging markets bonds
Local currency government bonds in Latin America and South Africa had a strong year in 2025, while major Asian countries lagged the broader market.
Trump forces Europe into strategic rethink
Donald Trump’s return to the Davos stage on Wednesday has sharpened investor focus on Europe’s exposure to a world in which geopolitics is once again shaping trade, security and capital allocation. “Everything has changed,” said Sabrina Khanniche, senior economist at Pictet.
To European investors ‘sell America’ is noise
Talk of the need to lower exposure to U.S. assets grew louder this week, but asset managers in Europe are not abandoning the country. Recent market moves, they argue, do not justify a strategic shift away from the U.S., with equities rebounding toward record highs after signs of progress on Greenland at talks in Davos.
Transfers: Oddo BHF, CSSF, Ogier, Partners, Apollo, FundSight
The latest appointments and people transfers in Luxembourg and elsewhere’s in Europe’s investment industry.
Luxembourg becomes a focal point in European wealth management
Luxembourg is increasingly becoming an operational necessity rather than a strategic option. From independent wealth structuring firms such as Norman K to larger private banking groups including Rothschild Martin Maurel, institutions are reinforcing their presence in the grand duchy to serve an increasingly international client base amid growing cross-border complexity and regulatory pressure.
Trump's return to Davos heralds new age of deglobalization
As global leaders and investors arrive in Davos this week, the central question for markets is no longer whether geopolitics matters, but how quickly political risk is being priced into assets. Donald Trump’s return to the World Economic Forum, where he is due to speak on Wednesday, comes at a moment when institutional credibility, fiscal discipline and capital concentration have become investment variables rather than background noise.
The chart that investors would rather not see
In the run-up to the Senate elections later this year, a presidential candidate has been making some rather odd moves. After briefly plucking away the president of a, at least on paper, sovereign state, and more or less annexing Greenland, again on paper, the chair of the US central bank was next in line. As a result, crucial charts that already tend to stay out of the spotlight receive even less attention. Fortunately, not here.