{"id":498,"date":"2017-07-07T12:00:17","date_gmt":"2017-07-07T12:00:17","guid":{"rendered":"https:\/\/corestone.site\/?p=498"},"modified":"2018-12-11T14:51:11","modified_gmt":"2018-12-11T13:51:11","slug":"investment-outlook-q3-2017","status":"publish","type":"post","link":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/","title":{"rendered":"Investment Outlook (Q3\/2017)"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"498\" class=\"elementor elementor-498 elementor-bc-flex-widget\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7f5b01e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7f5b01e1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7fc0edba\" data-id=\"7fc0edba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73f60c27 elementor-widget elementor-widget-text-editor\" data-id=\"73f60c27\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>\u201cDenial ain\u2019t just a river in Egypt.\u201d<\/em><\/p><p><cite>Mark Twain<\/cite><\/p><\/blockquote><p><\/p><p><\/p><h2 class=\"wp-block-heading\">Macro Environment<\/h2><p><\/p><p><\/p><ul class=\"wp-block-list\"><li>Inflation pressure in developed markets subsides for the time being as oil prices fall<\/li><li>European recovery maintains momentum \u2013 Election results in France bolster confidence<\/li><li>US sentiment &amp; confidence is well ahead of hard economic data<\/li><li>Emerging markets growth remains robust<\/li><\/ul><p><\/p><p><\/p><h2 class=\"wp-block-heading\">Outlook and Markets<\/h2><p><\/p><p><\/p><ul class=\"wp-block-list\"><li>Risks for equity markets increase as hard data fails to catch up with overly optimistic sentiment data, mainly in the US<\/li><li>Increased volatility across asset classes and regions ahead<\/li><li>Fed still on track to tighten further \u2013 balance sheet adjustments will become market focus<\/li><li>ECB and BoE continue to change wording to prepare markets for an exit of their loose monetary stance<\/li><li>Productivity growth continues to be located in emerging markets rather than in developed economies<\/li><\/ul><p><\/p><p><\/p><h2 class=\"wp-block-heading\">Main Investment Calls<\/h2><p><\/p><p><\/p><ul class=\"wp-block-list\"><li>Reducing risk further \u2013 lowering the overall weight of the return portion to neutral<\/li><li>Equities over Sovereign Bonds<\/li><li>Emerging over Developed Equities<\/li><li>High Yield, EMD and Investment Grade Credit over Sovereign Bonds<\/li><li>TIPS as an (unexpected) inflation hedge<\/li><\/ul><p><\/p><p><\/p><h2 class=\"wp-block-heading\">Main Risks<\/h2><p><\/p><p><\/p><ul class=\"wp-block-list\"><li>Global trade war initiated by erratic and extreme protectionist measures by the Trump administration<\/li><li>Substantial<br \/>growth slowdown in China puts further pressure on commodities and<br \/>export oriented countries predominantly in Asia but also elsewhere<\/li><li>Lower<br \/>than expected growth in the US, coupled with tax reductions and<br \/>substantially increased spending lead to more than expected rate hikes<br \/>in the US and a possible recession within the next 18 months<\/li><li>Middle<br \/>east conflict(s) in Syria, Qatar etc. escalate further and send oil<br \/>prices sharply higher \u2013 leading to substantially higher inflation in the<br \/>US, but also in the Eurozone and in the UK<\/li><li>Tensions between the US and North Korea increase and escalate further to send shock waves throughout financial markets<\/li><\/ul><p><\/p><p><\/p><p>To receive the full Investment Outlook, please subscribe to our mailing list below.<\/p><p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-983eded elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"983eded\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-97e7e57\" data-id=\"97e7e57\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The Investment Outlook for the third quarter of 2017 has been published.<\/p>","protected":false},"author":3,"featured_media":2838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[8],"tags":[15,16],"class_list":["post-498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-outlooks","tag-investment-outlook","tag-q3-2017"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment Outlook (Q3\/2017) - Corestone Investment Managers AG<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investment Outlook (Q3\/2017) - Corestone Investment Managers AG\" \/>\n<meta property=\"og:description\" content=\"The Investment Outlook for the third quarter of 2017 has been published.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"Corestone Investment Managers AG\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-07T12:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-12-11T13:51:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2309\" \/>\n\t<meta property=\"og:image:height\" content=\"1299\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cord Hinrichs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cord Hinrichs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"2\u00a0Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\"},\"author\":{\"name\":\"Cord Hinrichs\",\"@id\":\"https:\/\/www.corestone.ch\/#\/schema\/person\/3eaabed94c5844da5e0c94c51d2e7283\"},\"headline\":\"Investment Outlook (Q3\/2017)\",\"datePublished\":\"2017-07-07T12:00:17+00:00\",\"dateModified\":\"2018-12-11T13:51:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\"},\"wordCount\":476,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.corestone.ch\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg\",\"keywords\":[\"Investment Outlook\",\"Q3\/2017\"],\"articleSection\":[\"Investment Outlooks\"],\"inLanguage\":\"de\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\",\"url\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\",\"name\":\"Investment Outlook (Q3\/2017) - Corestone Investment Managers AG\",\"isPartOf\":{\"@id\":\"https:\/\/www.corestone.ch\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg\",\"datePublished\":\"2017-07-07T12:00:17+00:00\",\"dateModified\":\"2018-12-11T13:51:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#breadcrumb\"},\"inLanguage\":\"de\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage\",\"url\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg\",\"contentUrl\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg\",\"width\":2309,\"height\":1299,\"caption\":\"Businessman analyzing growing 3D AR chart floating above digital tablet computer screen, showing successful increase in business profit\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.corestone.ch\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Investment Outlooks\",\"item\":\"https:\/\/www.corestone.ch\/category\/investment-outlooks\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Investment Outlook (Q3\/2017)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.corestone.ch\/#website\",\"url\":\"https:\/\/www.corestone.ch\/\",\"name\":\"Corestone Investment Managers AG\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.corestone.ch\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.corestone.ch\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"de\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.corestone.ch\/#organization\",\"name\":\"Corestone Investment Managers AG\",\"url\":\"https:\/\/www.corestone.ch\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/www.corestone.ch\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/10\/corestonefreestanding-copy_png.png\",\"contentUrl\":\"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/10\/corestonefreestanding-copy_png.png\",\"width\":664,\"height\":122,\"caption\":\"Corestone Investment Managers AG\"},\"image\":{\"@id\":\"https:\/\/www.corestone.ch\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.corestone.ch\/#\/schema\/person\/3eaabed94c5844da5e0c94c51d2e7283\",\"name\":\"Cord Hinrichs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"de\",\"@id\":\"https:\/\/www.corestone.ch\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9f79b5097bdc0229d53e3c4361c3fc70f5fe0267ef13f615609ecd6c76cf41f4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9f79b5097bdc0229d53e3c4361c3fc70f5fe0267ef13f615609ecd6c76cf41f4?s=96&d=mm&r=g\",\"caption\":\"Cord Hinrichs\"},\"url\":\"https:\/\/www.corestone.ch\/de\/author\/chinrichs\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Investment Outlook (Q3\/2017) - Corestone Investment Managers AG","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/","og_locale":"de_DE","og_type":"article","og_title":"Investment Outlook (Q3\/2017) - Corestone Investment Managers AG","og_description":"The Investment Outlook for the third quarter of 2017 has been published.","og_url":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/","og_site_name":"Corestone Investment Managers AG","article_published_time":"2017-07-07T12:00:17+00:00","article_modified_time":"2018-12-11T13:51:11+00:00","og_image":[{"width":2309,"height":1299,"url":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg","type":"image\/jpeg"}],"author":"Cord Hinrichs","twitter_card":"summary_large_image","twitter_misc":{"Verfasst von":"Cord Hinrichs","Gesch\u00e4tzte Lesezeit":"2\u00a0Minuten"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#article","isPartOf":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/"},"author":{"name":"Cord Hinrichs","@id":"https:\/\/www.corestone.ch\/#\/schema\/person\/3eaabed94c5844da5e0c94c51d2e7283"},"headline":"Investment Outlook (Q3\/2017)","datePublished":"2017-07-07T12:00:17+00:00","dateModified":"2018-12-11T13:51:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/"},"wordCount":476,"commentCount":0,"publisher":{"@id":"https:\/\/www.corestone.ch\/#organization"},"image":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage"},"thumbnailUrl":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg","keywords":["Investment Outlook","Q3\/2017"],"articleSection":["Investment Outlooks"],"inLanguage":"de","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/","url":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/","name":"Investment Outlook (Q3\/2017) - Corestone Investment Managers AG","isPartOf":{"@id":"https:\/\/www.corestone.ch\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage"},"image":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage"},"thumbnailUrl":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg","datePublished":"2017-07-07T12:00:17+00:00","dateModified":"2018-12-11T13:51:11+00:00","breadcrumb":{"@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#breadcrumb"},"inLanguage":"de","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/"]}]},{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#primaryimage","url":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg","contentUrl":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/12\/Q42016-iStock-861911300.jpg","width":2309,"height":1299,"caption":"Businessman analyzing growing 3D AR chart floating above digital tablet computer screen, showing successful increase in business profit"},{"@type":"BreadcrumbList","@id":"https:\/\/www.corestone.ch\/de\/investment-outlook-q3-2017\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.corestone.ch\/"},{"@type":"ListItem","position":2,"name":"Investment Outlooks","item":"https:\/\/www.corestone.ch\/category\/investment-outlooks\/"},{"@type":"ListItem","position":3,"name":"Investment Outlook (Q3\/2017)"}]},{"@type":"WebSite","@id":"https:\/\/www.corestone.ch\/#website","url":"https:\/\/www.corestone.ch\/","name":"Corestone Investment Managers AG","description":"","publisher":{"@id":"https:\/\/www.corestone.ch\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.corestone.ch\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"de"},{"@type":"Organization","@id":"https:\/\/www.corestone.ch\/#organization","name":"Corestone Investment Managers AG","url":"https:\/\/www.corestone.ch\/","logo":{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/www.corestone.ch\/#\/schema\/logo\/image\/","url":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/10\/corestonefreestanding-copy_png.png","contentUrl":"https:\/\/www.corestone.ch\/wp-content\/uploads\/2018\/10\/corestonefreestanding-copy_png.png","width":664,"height":122,"caption":"Corestone Investment Managers AG"},"image":{"@id":"https:\/\/www.corestone.ch\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.corestone.ch\/#\/schema\/person\/3eaabed94c5844da5e0c94c51d2e7283","name":"Cord Hinrichs","image":{"@type":"ImageObject","inLanguage":"de","@id":"https:\/\/www.corestone.ch\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9f79b5097bdc0229d53e3c4361c3fc70f5fe0267ef13f615609ecd6c76cf41f4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9f79b5097bdc0229d53e3c4361c3fc70f5fe0267ef13f615609ecd6c76cf41f4?s=96&d=mm&r=g","caption":"Cord Hinrichs"},"url":"https:\/\/www.corestone.ch\/de\/author\/chinrichs\/"}]}},"_links":{"self":[{"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/posts\/498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/comments?post=498"}],"version-history":[{"count":6,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/posts\/498\/revisions"}],"predecessor-version":[{"id":2846,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/posts\/498\/revisions\/2846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/media\/2838"}],"wp:attachment":[{"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/media?parent=498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/categories?post=498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.corestone.ch\/de\/wp-json\/wp\/v2\/tags?post=498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}