In the first half of 2024, global equity markets posted significant gains, with the MSCI World Index and the SPI Index in Switzerland as leading performers. Large companies achieved better returns than medium-sized and small companies. Interest rates rose on 10-year bonds in USD and EUR, while they fell slightly in CHF. Commodities recovered after price declines in the previous quarter, and gold posted gains of 12.8% in USD. Investments such as Swiss equities dividend stocks and balanced international portfolios significantly exceeded their benchmarks. Real growth of around 3% is expected worldwide in 2024, accompanied by a slight fall in inflation in most countries. Further interest rate cuts could follow in the US and the Eurozone, which should further support equities. You can find more details in the PDF below.