Market Review April
China in the middle of the world
In April 2023, China has set the pace of the world, receiving the French president, warmly welcoming Lula, showing its determination towards Taiwan or finally succeeding in creating a dialogue between Iran and Saudi Arabia.. China appears to be firmly in the middle of the world in the 21st century, gradually regaining its place in history.
The USD offers the best perspective on these changes as it continues to fall against the major currencies.
The financial markets, for their part, remain carefree, with good performances on equities. Switzerland is recovering some of its lag from other markets.
Interest rates have been relatively stable over the month, allowing bonds to hold their gains. Swiss real estate is better positioned and has been in positive territory since 1 January. Commodities are taking a break after a very good month in March.
The risk indicator is falling on almost all components.
XO Risk Aversion Index - Composite 250D
XO Risk Aversion Index - Components