06 SEP 2021

Messy Payroll Numbers?

News and insights

Key Points


Headline payroll disappointed though underlying indicators are less negative, UST curve bear steepening

Fresh supply in the credit markets has been more than well absorbed by the market thanks to the ongoing ECB purchases and sizable cash on the sidelines

We remain in the neutral camp given the market richness as well as supportive “technicals”; while some moderate beta compression is ongoing, we are not tempted to be longer in beta than now. Overall Portfolio beta is close to its long-term historical average

Back to all

Connect with us

Area(s) of interest
This field is for validation purposes and should be left unchanged.

Utoquai 55
8008 Zürich
Switzerland

Investment Solutions
+41 43 888 45 60

Advisory
+41 43 888 60 60