There is some embarrassment in the financial markets. The granitic certainties, tempered by the successes of the central banks and the fiscal policies undertaken to vaccinate the economies affected by COVID-19, are showing some signs of trembling. In November, the world stock exchange index, the MSCI World, fell 2.8%, the S&P 500 0.8% and the Stoxx Europe 600 2.6%. However, the more conservative Swiss index [...]
NOVEMBER COMMENT 2021 - EMBARRASSMENT FROM OMICRON AND BY FED