Taurus Asset Management SA

U.S. stocks fell as Treasury yields rose, while Tesla supported the tech sector and Apple suffered. In Europe, the EuroStoxx 50 fell on economic uncertainty, and in Asia the market was mixed. The dollar strengthened, while the euro lost weight in global flows.

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Taurus Asset Management SA and Family Office

Last week global markets saw significant developments. In the United States, banks gained ground, while energy stocks fell. The Nasdaq rose thanks to Taiwan Semiconductor and Netflix, and the Russell 2000 and S&P MidCap 400 sectors outperformed large caps. In Europe, the ECB and BoE cut rates as expected. In Asia, the Nikkei 225 lost 1 percent, while in China the Shanghai Composite rose. Oil recorded its worst annual decline.

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Taurus Asset Management SA and Family Office

The S&P 500 reached 5,800 points, buoyed by earnings from JPMorgan, Wells Fargo and NVIDIA, offsetting losses from Alphabet and Tesla. Despite rising inflation (+0.2%) and a spike in U.S. unemployment claims, European and Asian markets showed volatility, with the Eurostoxx50 up 0.9% and the Chinese CSI300 index up 4.95%. The global manufacturing PMI fell, while gold and oil maintained high values. Bitcoin rose to $63,000.

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Taurus Asset Management SA and Family Office

In the past week, financial markets showed mixed dynamics, with the S&P 500 rising on the back of strong employment data in the U.S. and weakness in Europe. In Asia, Chinese markets recovered with new stimulus. Oil rose 9 percent, marking a strong rally.

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Taurus Asset Management SA and Family Office

Positive week for stock markets, with focus on China's stimulus measures. Materials and commodities up, especially copper. U.S. Treasury yields steady, while in Europe markets rose, driven by luxury stocks and favorable monetary expectations.

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Taurus Asset Management SA and Family Office

Last week saw a strong recovery in global stock indexes, driven by technology stocks and reassurances from Nvidia CEO Jensen Huang. In mid-week, markets came under pressure from rising core inflation in the United States (+0.3 percent in August). General inflation fell to 2.5 percent, the lowest since 2021, bringing Treasury yields to their lowest since 2024. In Europe, the ECB cut deposit rates, while oil remained under pressure. Bitcoin also rose 10 percent.

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Taurus Asset Management SA and Family Office

Financial markets went through a difficult week, with mixed macroeconomic data adding to uncertainty. The S&P 500 posted its worst performance in 2024, with NVIDIA under pressure from rumors of an antitrust investigation. The energy sector also suffered declines, while defensive sectors showed more stability.

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Taurus Asset Management SA and Family Office

August saw few major developments compared to the previous quarter. In the United States, July's core PCE rose 0.2 percent, reassuring investors about price stability. In Europe, Eurozone inflation fell to 2.2 percent, putting pressure on the ECB. In the currency market, the Japanese yen had a significant rally, while the dollar weakened against the euro. Bond markets saw increased demand for short-dated bonds, while cryptocurrencies fell significantly.

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Taurus Asset Management SA and Family Office

Positive week for stock and bond markets thanks to less robust macroeconomic data and favorable French election results. Negative CPI for first time since 2020 opens up possibility of rate cut. Shift from mega cap to mid-cap stocks, weak dollar, pound and yen up. Bitcoin recovers.

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Taurus Asset Management SA and Family Office

The major indexes i rose last week on lower interest rate expectations and strength in technology stocks, despite signs of economic weakness. ISM showed a decline in manufacturing and services activity in the US. Europe saw a rise in indexes and a Labour Party victory in the UK. In Asia, Shanghai container freight increased for the 12th consecutive week. Bitcoin collapsed below $54,000.

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Taurus Asset Management SA and Family Office

Equity indices showed a mixed performance. The banking sector benefited from forecasts of relaxed capital requirements by the European Central Bank. In Europe, the benchmark index fell in anticipation of the French elections, while equity markets in Japan rose thanks to weakness in the yen.

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Taurus Asset Management SA and Family Office

Stocks posted modest gains. Industrial production rose 0.9 percent in May. The Bank of England kept rates unchanged, while the Swiss National Bank cut them. Oil rose, gold and Bitcoin fell.

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Taurus Asset Management SA and Family Office

Financial markets saw significant developments this week: the spread between French and German government bonds widened, raising concerns about Italy and Spain. In response, U.S. stock markets rose, driven by technology stocks. The Fed kept interest rates unchanged, while in Europe political uncertainty negatively affected indexes.

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Taurus Asset Management SA and Family Office

The week saw mixed trends in equity sectors: rise in large technology stocks and fall in small and mid-cap stocks, due to falling long-term interest rates and macroeconomic data. The ISM services index reached 53.8, indicating solid economic expansion in the US. In Europe, the benchmark index rose due to the ECB's rate cut. In China, stocks fell despite good real estate data. Bitcoin tested $72,000 before retracing to $69,000.

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Taurus Asset Management SA and Family Office

During a week shortened by the holidays, major stock indexes closed lower but ended the month on a positive note. Small-caps outperformed large-caps, with value stocks more resilient than growth. The technology sector declined significantly, especially in software stocks. IBEX, SMI, and Nasdaq ended the month on top, while the Dow Jones lagged behind due to disappointing industry quarterlies. Energy commodities declined weekly and monthly, except for metals. The price of bitcoin fell during the week, but bitcoin ETFs continued to see inflows.

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Taurus Asset Management SA and Family Office

A decline in the U.S. Macroeconomic Surprises Index favored major stock indexes, with concerns about inflation and interest rates eased. The April consumer price report and stable retail sales contributed to the positive sentiment. The 10-year U.S. Treasury yield fell, while the technology and financial sectors outperformed. In Europe, only the benchmark index fell, while Asian markets and commodities showed significant gains. Bitcoin and Ethereum posted strong gains.

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Taurus Asset Management SA and Family Office

Over the past week, financial markets have been on the rise. Dividend-focused strategies prevailed, affecting trading volumes. Large companies maintained stable growth, while smaller companies suffered more volatility due to economic and political conditions. In the U.S., rising unemployment claims and declining consumer confidence kept markets stable. In Europe, indexes closed higher, while results in Asia were mixed.

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Taurus Asset Management SA and Family Office

Last week saw high volatility in global markets, with investors looking for signals from the Federal Reserve. A weaker-than-expected April employment report led major U.S. indexes to close in the positive, fueling hopes that the Fed may soon cut interest rates. The S&P 500 maintained support for its ascending channel, while in Europe and Asia the benchmark indexes showed mixed trends.

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Taurus Asset Management SA and Family Office

Last week, stock markets, driven by solid results from technology companies such as Microsoft and Alphabet, showed recovery. The Euro Stoxx 50 rose 1.80 percent. Commodities and cryptocurrencies also showed volatility, with a rise in oil and fluctuations in the price of Bitcoin.

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Taurus Asset Management SA and Family Office

The week saw strong instability in financial markets, with losses in the Nasdaq and the semiconductor sector falling 8.5 percent due to disappointing financial statements from ASML and TSMC. U.S. government bond yields rose, complicating markets. Unexpected growth in China, but Asian markets generally negative. Rally in metals, decline in energy sector, and cryptocurrencies fluctuating with Bitcoin recovering after a drop below US$60,000.

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Taurus Asset Management SA and Family Office

Financial markets experienced high volatility last week, with the S&P 500 down 1.56 percent, the worst since October, due to geopolitical tensions and inflationary fears. The U.S. CPI rose 3.5 percent, and the dollar gained ground as gold hit new highs. Tensions also affected European, commodity and cryptocurrency markets.

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Taurus Asset Management SA and Family Office

US indexes, S&P 500 and Dow Jones, fall on positive macroeconomic data. Energy sector rises, while health care and real estate decline. European indexes fall, China positive. Gold and oil rise. Bitcoin remains stable, Ethereum falls.

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Taurus Asset Management SA and Family Office

Over the past week, global markets up thanks to active central banks and strong economic data. US real estate sector jumps, easing recession fears. Volatility in bond yields, while Europe signals stabilization. Surprises from central banks shake markets, with Japan raising rates after 15 years. Gold and Bitcoin fluctuate, dollar on the rise.

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Taurus Asset Management SA and Family Office

Quarterly options expiration influenced markets, with energy rising on the back of oil prices and technology struggling. Disappointing US retail sales and above-expected inflation keep pressure high. Treasuries up, while commodities and currencies experience significant volatility.

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Taurus Asset Management SA and Family Office

Expectations of rate cuts from Fed and ECB affect markets, closing lower. Small stocks and value sector outperform tech, hurt by Apple's decline in China. Surprises from US employment, with unemployment up. Powell and negative data lower Treasury yields. Gold and bitcoin up.

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Taurus Asset Management SA and Family Office

Friday, Nasdaq and S&P 500 rise, signaling market optimism despite above-expected rise in inflation. Fed conveys calm, despite challenges such as weak manufacturing ISM. Macroeconomic tensions persist, with U.S. government debt and Eurozone inflation rising. Gold gains, cryptocurrencies up sharply.

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Taurus Asset Management SA and Family Office

Last positive week for global markets, led by semiconductors and NVIDIA exceeding expectations. AI sector reassures, while US jobs data shows resilience. Global S&P and rising services indicate recovery. Eurozone PMI stable, despite German recession. Government bonds attract; Asia and Europe equities up. Gold up, oil and agricultural down; cryptocurrencies stable.

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Taurus Asset Management SA and Family Office

‍The last week saw the U.S. stock market close lower, despite 82 percent of companies reporting earnings per share up 14 percent. Higher-than-expected inflation fuels fears of stagflation, with marked sectoral divergence. Market concentration worrisome among top companies. Europe and Japan positive, oil gains and natural gas falls. Metals and cryptocurrencies, with Bitcoin over $52,000, up.

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Taurus Asset Management SA and Family Office

‍Global markets close positive, with the S&P 500 above 5,000 points thanks to tech and Nvidia, despite 70 percent of companies below expectations. Bank default risks worry. US sees strong services sector and successful Treasury auction. Germany struggles industrially, but orders surprise. Euro STOXX 50 and Nikkei up, thanks in part to Chinese stimulus. Oil and Bitcoin rally.

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Taurus Asset Management SA and Family Office

Global stock markets diverge: U.S. up on tech gains, while small companies and regional banks struggle. Fed immobile on rates, labor data reinvigorate bonds. Europe steady, Switzerland down. Nikkei up, China down on real estate. Oil down despite OPEC+, metals and agriculture mixed. Bitcoin rises again to $43,000.

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Taurus Asset Management SA and Family Office

Markets up thanks to Chinese measures, strong corporate results and macroeconomic optimism. U.S. growth and PMIs above expectations, unchanged Fed rates push Treasury speculation. Europe grows with solid results, Asia mixed with Chinese stimulus. Geopolitical tensions and positive US data boost oil and commodity prices. Bitcoin over $42,000.

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Taurus Asset Management SA and Family Office

Week ends with cautious optimism in the financial sector, led by semiconductors but held back by Boeing's decline. Retail sales exceed expectations, highlighting strength in digital economy. Consumer sentiment improving, despite caution in monetary investment. U.S. policies and labor strength promise stimulus. Europe and China down, Nikkei up. Dollar and oil up, natural gas and Bitcoin register notable changes.

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Taurus Asset Management SA and Family Office

Nasdaq and S&P 500 advance, countered by static Dow Jones and Small Caps. Technology stands out, energy flexes. U.S. CPI above expectations raises concerns about persistent inflation. Banking results reflect economic challenges. Nikkei excels, China retreats anticipating expansionary policies. Bond yields fall, oil and gas diverge. Bitcoin weak despite new ETFs.

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Taurus Asset Management SA and Family Office

Opening 2024 marked by preferences toward energy, consumer goods, and healthcare, with markets alert to geopolitical tensions, especially Xi's statements on Taiwan. US labor market ambiguous, affecting bond yields. Concerns about US government debt emerge. Fed forecasts rates near peak. STOXX Europe 600 and Chinese market down; inflation in Eurozone and Germany uneven. Oil up, metals and agriculture down; Bitcoin awaits news on ETF.

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Taurus Asset Management SA and Family Office

2023 showed a mixed global financial landscape, with key banks failing and equity markets reaching new peaks, fueled by currency devaluations. AI was at the center of litigation, while optimism about rate cuts propelled Europe. 2024 calls for flexible investment strategies and in-depth analysis in a changing market.

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Taurus Asset Management SA and Family Office

Global markets experienced a positive week thanks to falling bond yields. In the U.S., the consumer price index rose 0.2 percent in October, marking the lowest annual inflation since 2021. Jerome Powell of the Federal Reserve indicated restrictive territory for rates, pushing up the three-month bond yield.

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Taurus Asset Management SA and Family Office

Financial markets closed the week positively, with reduced volumes in the U.S. for the holidays. Durable goods orders contracted, raising concerns about the economy. A bond auction initially lowered yields, but they then rose overall.

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Taurus Asset Management SA and Family Office

Stock indexes, including the S&P 500 above 4,500 points, continued the positive trend. The Consumer Price Index remained stable, with core prices up 0.2 percent. This reduced long-term Treasury yields, with the 10-year at a low of 4.40 percent.

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Taurus Asset Management SA and Family Office

Major stock exchanges closed mostly positive. University of Michigan reports a drop in consumer sentiment. U.S. 30-year bond auction boosts yields, with concerns about credit default swaps. Inflation projections exceed expectations, while the New York Federal Reserve reports recessionary risks.

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Taurus Asset Management SA and Family Office

Last week, major stock indexes recovered, driven by the Federal Reserve. In the U.S., job creation was lower than expected, bringing unemployment to 3.9 percent. In Europe, inflation fell, but the Swiss National Bank warned on housing prices. The Bank of Japan maintained an accommodative monetary policy. Bond yields corrected. In Europe, major indexes recovered, while Chinese markets posted modest gains. The dollar declined, while gold was stable.

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Taurus Asset Management SA and Family Office

Global markets negative this week: mixed quarterly results and geopolitical tensions. Caution over earnings deterioration and rising corporate costs. Robust U.S. economy growth but inflation uncertainties. ECB maintains rates. European indexes negative except China. Dollar slightly up. Oil down despite tensions. Gold at $2,000, Bitcoin above 35,000.

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Taurus Asset Management SA and Family Office

Week marked by financial turmoil and geopolitical tensions. S&P 500 and Nasdaq register losses, with growth stocks and European, Japanese and Chinese markets down. Federal Reserve contributes to turmoil as banks in US suffer. China stabilizes after slowdowns. Solid dollar, gold and oil up. Bitcoin at $30,000 pending ETF approval.

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Taurus Asset Management SA and Family Office

Markets: focused on inflation, geopolitical risks, Central Bank policies. IMF forecasts weak growth in 2023-2024. U.S. corporate positive: Citigroup, Wells Fargo, JPMorgan Chase. Geopolitical tensions affect energy and defense, weigh on transportation. Federal Reserve observed, conflicting uncertainties mitigate inflation impact. US bond yields vary, yield curve flattens. Europe down except Italy. Asia on the upside. Oil, gold, silver, agricultural commodities up. Dollar stable, VIX and Bitcoin up.

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Taurus Asset Management SA and Family Office

Last week in financial markets showed uncertainties. In the US, job creation exceeds estimates but wages grow little. Volatility evident with Nasdaq up and Dow Jones down. In Europe, widespread declines. In Asia, Japanese Nikkei down, while Chinese list recovers. Oil falls to $81, Bitcoin above $27,500.

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Taurus Asset Management SA and Family Office

Global financial markets in uncertainty over oil price hike and rate hike. U.S.: four consecutive weeks of decline in stock market. Europe negative due to higher rates and weak growth. Asia weak, with focus on China and Japan. Strong dollar, euro down in international payments.

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Taurus Asset Management SA and Family Office

Down week for U.S. indexes as Fed holds rates and outlook for inflation-linked increases. Rise in government bond yields. Concerns over possible government shutdown. Negative PMIs in Germany and France. Uncertainties about German energy. Global, Bloomberg index reaches pre-crisis highs. Strong dollar appreciation. Oil and Bitcoin stationary. Cisco acquires Splunk, Microsoft increases dividend 10%, Tesla reaches 5 million car production.

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Taurus Asset Management SA and Family Office

Financial markets swing: value stocks in relief, WTI oil over $90/barrel. Technology sector disappointed by new Apple products. Arm IPO brings momentum. CPI data show progress against inflation, but energy prices may lead to monetary tightening. European indexes rise after ECB rate hike. In Asia, Japanese index up, Chinese stocks mixed. Dollar up for ninth week, commodities up, Bitcoin rebounds.

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Taurus Asset Management SA and Family Office

Changing financial landscape: August marks phase of low volume and responsiveness to news. September shows mixed signals, with positive economic surprises countered by inflation fears and global slowdown. Apple, Nvidia and Disney stocks hit by corporate events. Europe uncertain, Chinese stocks down. Oil up, dollar hits highs, Bitcoin below $26,000.

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Taurus Asset Management SA and Family Office

Stock indexes close positive on US jobs news. Nasdaq falls on Tesla and Netflix results, re-balancing index. In Europe, STOXX Europe 600 rises despite negative news. Japan weak pending Bank meeting, China down on GDP. US: retail sales up, unemployment down, but Conference Board index down. UK, inflation down. U.S. bond yields rise, decline for European bonds. Dollar and Swiss franc gain on euro. Commodities down, except natural gas. Cryptocurrencies: Ripple rises again, Bitcoin and Ethereum stable. ‍

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Taurus Asset Management SA and Family Office

The first half of 2023 saw a solid recovery in equity markets, with the S&P 500 in new bullish market. However, the main pull has been from AI-related technology stocks. Other markets, such as Europe and Japan, climb, but uncertainty in Switzerland and disappointment in China. Bonds positive, commodities weak. Bitcoin comes back strong with a rise of more than 50 percent. Although concerns ease, challenges remain, such as a rate hike cycle and persistent inflation.

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Taurus Asset Management SA and Family Office

Major stock indexes down last week on concerns over rate hike cycle. Fed's Powell predicts further hikes. Bank of England raises key rate, other central banks follow. STOXX Europe 600 down on recession fears. Asian markets down. Bond yields rise. Euro weak. Commodities down except natural gas. Institutional interest in Bitcoin drives cryptocurrencies. Bitcoin above $30,000.

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Taurus Asset Management SA and Family Office

International stock markets positive thanks to economic data and Central Bank decisions. In US, inflation slightly down, Fed does not raise rates. ECB raises rate to 4%. Bank of Japan keeps policy accommodative, stimulates Nikkei. China cuts rates, prepares stimulus. Euro strengthened by ECB. Commodities mixed, with oil up. Blackrock announces Bitcoin ETF, supporting cryptocurrencies.

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Taurus Asset Management SA and Family Office

US stocks rise moderately, S&P 500 index recovers from October lows, signaling renewed investor confidence. US unemployment claims up, services contract. In Europe, slight stock market decline, Japan rallying, China volatile on inflation data. Long-term bond yields up.

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Taurus Asset Management SA and Family Office

In the past week, investors reacted positively to political and economic developments, leading to a close in positive territory for global financial markets. U.S. debt ceiling agreements restored confidence, with banks reporting an increase in deposits. U.S. Treasury bond yields fell in response to employment data. In Asia, the Nikkei index continued to rise, while the Hang Seng showed a rebound. Gold remained stable, while oil and metals were up.

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Taurus Asset Management SA and Family Office

The week saw negative performance for the major indexes, except for the Nasdaq, driven by NVIDIA, which added 200 billion in capitalization in one day thanks to first quarter earnings. Tensions over the debt ceiling affected markets, highlighting political and economic fragility. European indexes closed lower, while bond yields rose. The dollar strengthened on debt concerns and German economic data. Only oil closed positive among commodities, while cryptocurrencies had a stable week.

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Taurus Asset Management SA and Family Office

The week saw rises above 2% for Nasdaq, DAX and Nikkei 225. Powell of the Federal Reserve signaled continued high inflation, boosting bond yields. The technology sector shined, while consumer goods and healthcare were weak. In Europe, the DAX gained more than 2 percent. Bitcoin remained stable.

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Taurus Asset Management SA and Family Office

The week saw rises above 2% for Nasdaq, DAX and Nikkei 225. Powell of the Federal Reserve signaled continued high inflation, boosting bond yields. The technology sector shined, while consumer goods and healthcare were weak. In Europe, the DAX gained more than 2 percent. Bitcoin remained stable.

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Taurus Asset Management SA and Family Office

European and U.S. stock markets closed lower last week, except for the Nasdaq, which rose modestly thanks to Alphabet unveiling an artificial intelligence platform. The Bank of England raised its interest rate. CDSs on U.S. government bonds are on the move. Disney influenced the Dow Jones. Dollar stronger, Swiss franc stable. Commodities down, with gold above 2,000 and oil above $70. Cryptocurrencies weak, with Bitcoin at $26,000 and Ethereum below $1,800.

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Taurus Asset Management SA and Family Office

U.S. and European indexes closed lower, with attention focused on the U.S. interest rate hike and volatility in the regional banking sector. However, positive employment data on Friday initiated a recovery led by technology stocks. In Europe, the ECB raised benchmark rates and Fitch downgraded France's credit rating. In the bond market, tensions related to the debt ceiling. Euro stable, oil down, gold and silver up. Tough week in the cryptocurrency Defi sector.

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Taurus Asset Management SA and Family Office

In the past week, equity indices showed a mixed trend: Asian and U.S. indices rose, while European indices closed lower. In the U.S., disappointing manufacturing activity data and concerns in the banking sector generated slowdown fears. Earnings season saw positive results for some tech companies, but weakness in the cyclical sector. In Europe, concerns about rising interest rates weighed on markets. Overall, the week was marked by volatility in bond and cryptocurrency markets, while the euro remained above 1.10 against the dollar.

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Taurus Asset Management SA and Family Office

Financial week mixed: Asian and US indexes down, Europeans up. U.S. unemployment claims up, while gold falls below $2,000. European Parliament votes for cryptocurrency regulation. ‍

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Taurus Asset Management SA and Family Office

In the past week, equity indices showed a mixed trend: Asian and U.S. indices rose, while European indices closed lower. In the U.S., disappointing manufacturing activity data and concerns in the banking sector generated slowdown fears. Earnings season saw positive results for some tech companies, but weakness in the cyclical sector. In Europe, concerns about rising interest rates weighed on markets. Overall, the week was marked by volatility in bond and cryptocurrency markets, while the euro remained above 1.10 against the dollar.

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Taurus Asset Management SA and Family Office

Financial week mixed: Asian and US indexes down, Europeans up. U.S. unemployment claims up, while gold falls below $2,000. European Parliament votes for cryptocurrency regulation.

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Taurus Asset Management SA and Family Office

Positive week in stock markets thanks to corporate data. NVIDIA estimates disappoint. Expectations of decline in S&P 500 earnings. US inflation at 5%. Bond yields on the rise. European markets up. Nikkei rises. Weak dollar, commodities recover. Equity volatility below 18. Bitcoin stable, Ethereum above 2000.

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Taurus Asset Management SA and Family Office

Week with choppy trading in stock indexes, slight decline. Slowdown in industrial activity as government bond yields fall. Swiss stocks up, down Nikkei. Capital inflows into large corporate stocks. Oil recovery, gold above 2000. Euro strong, cryptocurrencies down slightly.

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Taurus Asset Management SA and Family Office

Financial week mixed: Asian and US indexes down, Europeans up. U.S. unemployment claims up, while gold falls below $2,000. European Parliament votes for cryptocurrency regulation.

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Taurus Asset Management SA and Family Office

During the past week, the stock market fell sharply on fears of a new financial crisis in the US. The collapse of Silvergate and Silicon Valley Bank fueled concerns. S&P 500 at lows, European banks down. Government stocks rallying, dollar stable, Swiss franc stronger. Gold up, commodities down. Bitcoin at $20,000, altcoins sold off. Volatility above 24.

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Taurus Asset Management SA and Family Office

Last week saw a positive performance for global stock indexes, driven by better-than-expected Chinese data. In the U.S., the manufacturing sector rebounded, while in Europe inflation rose. In China, the recovery in the manufacturing index led the market. Volatility in US bond yields, strong euro. Commodities up, Bitcoin stable, VIX down.

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Taurus Asset Management SA and Family Office

Last week saw a sharp decline in global stock indexes, with losses of more than 2 percent, mainly due to the overshooting of U.S. inflation forecasts. The Dow Jones turned negative again in 2023, while bond yields rose. In Europe, positive economic data fueled fears of monetary tightening. Currency: weak euro. Commodities down, natural gas up. Cryptocurrencies correct: Bitcoin at 23,000, Ethereum at 1,600. VIX above 21.

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Taurus Asset Management SA and Family Office

Last week showed a mixed performance in global markets: positive European indexes, mixed U.S. indexes, and negative Chinese indexes. U.S. macroeconomic data raised monetary tightening concerns, while Europe showed economic slowdowns. Chinese markets remain fragile. Currencies stable except for the yen. Rise in bond yields and volatility. Commodities down, cryptocurrencies positive.

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Taurus Asset Management SA and Family Office

The week saw a general decline in stock indexes, except for the Italian stock market. Statements by the U.S. and British central banks raised fears of restrictive monetary policies. In Europe, stocks suffered from these concerns. U.S.-China tensions affected Asian indexes. Rise in bond yields, with inversion of the curve in the US. Alphabet lost 100 billion due to an error in the chatbot. Standard Chartered and Credit Suisse had significant losses. Walt Disney had solid earnings. Euro weak, oil and natural gas rebound, gold stable, metals down. Stock volatility above 20, Bitcoin at USD 22000.

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Taurus Asset Management SA and Family Office

Last week saw a positive trend for stock indexes, driven by better-than-expected economic data and central bank statements. The Fed raised rates but suggested possible future easing, while the ECB and Bank of England raised rates to counter inflation. Other institutions maintained accommodative policies. On the currency front, the Swiss franc and the dollar strengthened. Meta reported surprising data, but Apple, Alphabet and Amazon disappointed. Commodities are down, with gold below $1900 and natural gas rising. The VIX fell below 19 and cryptocurrencies are showing signs of recovery, with Bitcoin stable.

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Taurus Asset Management SA and Family Office

The week was dominated by anticipation of central bank decisions. Corporate quarterly results influenced markets, with signs of resilience in sectors such as luxury and disappointment in others such as technology. Bitcoin continued its rally, while commodities closed negative.

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Taurus Asset Management SA and Family Office

The year 2023 begins with trends similar to the past, characterized by the depreciation of the dollar, falling bond yields, and recovering equities. Central bankers' comments have influenced markets. EUR strengthens. The ECB considered a rate hike, while the Bank of England and the Bank of Japan outlined divergent policies. In the U.S., the discussion on rates helped the Nasdaq. Gold and oil rise, natural gas falls. Bitcoin continues the rally.

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Taurus Asset Management SA and Family Office

The second week of 2023 sees a recovery in both stock and bond indices, driven by positive macroeconomic data. Inflation in the U.S. declines in December, but the economy remains resilient despite monetary tightening. European and Asian markets post gains as the euro strengthens and the dollar weakens. Gold rises, oil remains stable and natural gas falls. Cryptocurrencies, such as Bitcoin and Ethereum, register a rally over the weekend.

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Taurus Asset Management SA and Family Office

A positive U.S. employment report boosted stock indexes despite modest trading volumes. Nonfarm payrolls rise by 223,000 in December, but below expectations. The stock rally is consolidated by the contraction of the ISM index, while in Europe stocks rise on slowing inflation. Chinese stocks strengthen on news of border reopenings and possible real estate support measures. Gold rises to $1870, while oil falls and cryptocurrencies recover.

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Taurus Asset Management SA and Family Office

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