Market Review February

The 7 wonders of the financial world

Fears of recession continue to be contained in the United States following the publication of good corporate results. Technology stocks are celebrating, particularly the magnificent 7 (Microsoft, Apple, Meta, etc.), and remain the engine of market growth. China, meanwhile, is still struggling economically. Property problems and a burgeoning deflationary spiral are weighing heavily on the outlook. Despite this, the financial results for February mean that the markets have been neutral since the start of the year.

The Fed has confirmed that it does not intend to cut rates before the middle of the year. This is weighing on the global bond index, despite the rise in currencies. Swiss property prices continue the rebound that began in November.

Oil is stable, while gold has been under slight pressure since the start of the year due to a strong dollar.

 The risk indicator remains in a low-risk zone. Only the commodities sub-index is still in a risky zone.

MAIN performances

XO Risk Aversion Index - Composite 250D

XO Risk Aversion Index - Components