A good start in difficult times
The start of the year was marked by turbulence, although returns remain similar to 2025.
Investment compass – February 2026
The monthly publication includes a topical editorial, our positioning including the conclusions from the analyses, a market overview of the most important asset classes, an assessment of the current economic situation in various regions, and our current model portfolios.
For as long as the economic situation in the US remains unclear and the government seeks a weaker dollar, we recommend reducing risk.
Positioning
From AI euphoria to critical differentiation
The rising scepticism towards AI investments bears out our cautious positioning towards the US stock market and remains an argument for broad diversification.
Market overview
Headwinds following strong start to the year
After a successful start to the year, the financial markets faced growing headwinds over the course of the month.
Economy
Hopes of bottoming out
Global industry is stabilizing. However, the Swiss export economy continues to suffer, a fact gradually being reflected on the labour market.
Model portfolios
Value stocks still preferred
Momentum on the stock markets weakened at the start of the year, in particular in the USA. Investors are increasingly questioning who the winners are amid the AI euphoria. We remain cautious towards the concentrated US stock market and prefer global value stocks.
“Investing with foresight” short video
In our video, Danilo Liloia, our Head of Portfolio Management, provides an update on the current situation on the financial markets and explains events in just a few minutes.
Newsletter
Investment compassInformation relevant to your investment decisions. The “PostFinance market view”, complete with our position on and assessment of the financial markets and the overall economic situation.
Newsletter
Information on investingGet more from your money. Get succinct investment insights for novice and advanced investors nine times a year as part of your subscription. How to become an investment pro step by step.
The newsletter is aimed at customers domiciled in Switzerland. The legal information and information on the protection of personal privacy apply.