Ethenea’s Siviero sees Swiss franc, yen as safe havens
With a recession looming in Europe, investors again are on the lookout for suitable safe havens. Ethenea’s investment strategist Andrea Siviero, who manages the firm’s 60-million-euro Hesper Fund - Global Solutions together with Federico Frischknecht, believes the Swiss franc and the Japanese yen are well placed to take up this role, as the Fund has1a position in December 2023 Euribor futures that anticipates the ECB won’t be able to raise rates next year as much as currently discounted by the market.