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Milleis Banque Privée bets on diversification for 2026

Milleis Banque Privée anticipates a scenario for 2026 similar to 2025: moderate global growth and disinflation. In a still volatile environment, diversification remains the key theme. With this in mind, the bank plans to reduce the share of cash investments in favor of listed and unlisted bonds, and to diversify its equity portfolios.

Chart of the week: the unfair fight of stablecoins

The ECB has given stablecoins a place in its Financial Stability Review. In a report containing the term stability assessment, you would expect the focus to be mainly on risks, but even then the ECB’s approach is striking. The unapologetic desire to favor the traditional banking sector is more than telling.