Insights

Stability and Resilience in Swiss Portfolios
Insight

Stability and Resilience in Swiss Portfolios

On 28 October, the Dutch TTF benchmark broke above €100 per megawatt-hour for the first time since December 2022 hours after EU Energy Commissioner Dan Jørgensen warned that the bloc faces another energy crisis. EU gas storage stood at 74.6% on 22 October, roughly 15 points below the five-year average, while Brent crude traded between $111 and $115 per barrel. With Qatari LNG flows reduced to a trickle for seven months, the winter is no longer a forecast. It has begun.
October 30, 2026
Divergence as Advantage
Insight

Divergence as Advantage

July 2026 delivers a sobering lesson in the fragility of peace dividends. The US-Iran Memorandum of Understanding, hailed in June as a historic breakthrough, proved to be precisely what sceptics warned it was: a framework without enforcement. By mid-July, renewed US military strikes on Iran, tanker attacks in the Strait of Hormuz and President Trump's threat to reimpose a naval blockade had pushed Brent crude back above $90/bbl erasing much of June's normalisation.
July 30, 2026