Market Update – August 2026
July looked calm from a distance and was anything but underneath. Headline indices barely moved, yet the makeup of the market changed.
July looked calm from a distance and was anything but underneath. Headline indices barely moved, yet the makeup of the market changed.
Communicating a financial strategy is not always straightforward. Between investment scenarios, financial projections, performance indicators and risk analyses, it can be challenging for clients to quickly grasp the key elements.
June rewarded patience over prediction.
The Iran ceasefire pulled the Middle East risk premium out of oil and gold almost as fast as it went in, and risk sentiment came back with it. Stocks rallied on the relief, with European equities rallying the most since the region is more exposed to oil prices.
In Switzerland, inheritance taxation falls within the competence of the cantons, resulting in a wide diversity of tax regimes. In this context, Geneva stands out with a system that is both protective of families and, in certain cases, particularly advantageous by international standards.
On the surface, markets looked fine: indices near record highs, earnings strong, the kind of numbers that make it tempting to stop asking questions. But the more you look at what drove those returns, the less straightforward the picture becomes.