Indosuez Wealth Management prefers gold and dollar over bonds, anticipates U.S. economic slowdown

Published 27/03/2025, 13:04
© Reuters.

Investing.com -- Indosuez Wealth Management has maintained a cautious approach towards the duration of both U.S. and European government bonds, according to a recent note.

The wealth management firm anticipates a slowdown in U.S. economic activity in 2025, but avoids pessimism, stating that "fears of recession seem exaggerated."

The note also reveals that Indosuez expects the Federal Reserve to make two rate cuts this year.

The firm identifies tariffs policy as the "nerve point" for markets, a factor that has been significant in recent market movements.

The U.S. equity markets, according to Indosuez, have largely moved beyond the influence of the "Trump Trade" and the optimistic expectations around Trump’s second term.

The wealth manager maintains a positive outlook on the dollar, viewing it as a hedging asset in its portfolio. The firm also continues to express a preference for gold in its investment strategy.

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