Aquila Viewpoints
Market outlook | 4th quarter 2026
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Independent Swiss asset managers largely expect the US Federal Reserve to keep its key interest rates unchanged until the end of 2026. At the same time, confidence in the Swiss stock market remains high, as shown by the Aquila Asset Manager Index (AVI) for the second quarter of 2026.
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On Wednesday, August 19, US Treasury Secretary Scott Bessent announced that he would at least double the buybacks of 10-to-30-year government bonds. The upper limit per buyback date will increase from 2 to 4 billion dollars. Since seven such dates are scheduled until November 4, this corresponds to an additional buyback capacity of around 14 […] over the entire duration of the program.
The U.S. is proving resilient thanks to a booming technology sector; consumer sentiment is recovering, although inflation rose again in May and is weighing on purchasing power.In the eurozone—particularly Germany—growth remains weak, but sentiment indicators are improving. The SNB and the Fed left their key interest rates unchanged in June—the SNB at 0% in light of low […]
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