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J. Safra Sarasin CIO has defensive game plan for 2023

Philipp Baertschi, Safra Sarasin

J. Safra Sarasin’s CIO is expecting uncertainty and volatility to remain high next year, so intends to stay defensive. The private bank is underweight in equities, neutral in bonds and overweight cash. Philipp Baertschi has warned of further downside to economic growth in 2023. While he expects the pace of interest rate hikes will moderate, he also expects central banks…

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