Insights & News - EFGAM New Capital

Podcast

The US consumer in a tariff-laden economy with Chelsea Wiater

The US consumer remains a crucial pillar of the economy, but what happens when they face the combined pressures of high interest rates and trade tariffs? In this episode, Chelsea Wiater, Senior Portfolio Manager for New Capital’s US growth equity strategies, unpacks the evolving habits of American consumers. She explores the striking divergence between weak consumer sentiment and resilient spending, and highlights the industries finding success in this challenging environment.The US consumer remains a crucial pillar of the economy, but what happens when they face the combined pressures of high interest rates and trade tariffs? In this episode, Chelsea Wiater, Senior Portfolio Manager for New Capital’s US growth equity strategies, unpacks the evolving habits of American consumers. She explores the striking divergence between weak consumer sentiment and resilient spending, and highlights the industries finding success in this challenging environment.

11 September 2025

Macro

Strategic adjustments after a strong summer for equities

Welcome to the September edition of InView: Monthly Global House View. In this publication we consider significant developments in the world’s markets, and discuss our key convictions and themes for the coming months.

10 September 2025
Read time: 10 mins

Podcast

Entering uncharted demographic territory with James Pomeroy

Collapsing birth rates are taking the world into uncharted territory, according to research done by James Pomeroy and HSBC. Shrinking populations from China to Europe will put unprecedented pressure on fiscal policy, but bright spots for investors still remain in the developing world.

03 September 2025

Macro

RBA and RBNZ: Inflation Targeting in Action

New Zealand pioneered inflation targeting in 1990 and Australia soon followed. In this Macro Flash Note, EFG Chief Economist Stefan Gerlach reviews the monetary policy frameworks in both countries and the outlook for interest rates.

02 September 2025
Read time: 3 mins

Macro

Eurozone PMI data leaves the ECB in its comfort zone

Monthly purchasing managers' surveys provide reliable and timely indicators of the state of the eurozone economy. In this Macro Flash Note, Senior Economist GianLuigi Mandruzzato reviews the latest data and concludes that the European Central Bank (ECB) will remain in wait-and-see mode for some time.

28 August 2025
Read time: 2 mins

Macro

Chairman Powell signals September cut likely, if the data allow

Federal Reserve Chair Jerome Powell spoke at the Kansas City Fed’s annual Jackson Hole symposium, indicating that a rate cut in September is likely, provided the data over the coming weeks do not surprise. With risks finely balanced, he avoided pre-empting the FOMC’s decision, but his remarks are the clearest indication yet of the Committee’s likely course. In this Macro Flash Note, EFG Chief Economist Stefan Gerlach comments on Powell’s message and its implications for monetary policy.

26 August 2025
Read time: 2 mins

Mid-Year Outlook 2026