Unlike many sectors, pharmaceutical companies are among the so-called anti-cyclicals. While their share prices often rise less strongly in boom times than those of cyclical stocks, they demonstrate their defensive qualities in more difficult market situations. Stable earnings and comparatively reliable dividend growth support the share prices of companies whose products sell even in times with an uncertain market outlook.

Instability continues to move the global markets, and high equity volatility is unsettling conservative investors. In such market situations, structured products with defensive parameters are particularly suitable for adjusting the risk-return ratio to the increased volatility.

One of the most attractive technological developments at the moment is the emergence of a completely digital parallel world, the Metaverse. This new technology platform represents the next step in the development of the Internet and combines social networking, online gaming, virtual reality, digital travel, shopping, etc.

In turbulent markets and an uncertain outlook, more conservative investment solutions are in demand. Barrier Reverse Convertibles with defensive parameters offer interesting return opportunities even with lower risk.

Chemistry has become indispensable in almost all products of daily life. Switzerland is home to three leading chemical companies: Sika, Clariant and Givaudan.

Despite the recent drop in Meta Platforms' share price, 7 of the world's 10 most valuable companies are still domiciled in the USA. The 5 largest among them are currently the following companies: Apple (USD 2.8 trill.), Microsoft (USD 2.2 trill.), Alphabet (USD 1.8 trill.), Amazon (USD 1.6 trill.) and Tesla (USD 906.7 billion).

Attractive returns can also be generated with defensive parameters

Today, Bank Vontobel can shine with excellent results. Earnings after taxes increased by 48 percent to CHF 384 million.

Long-term institutional investors are gradually realizing the untapped potential in these companies. For example, the Swedish investment company Cevian built up a strategic position in Vodafone just last Friday. The stock immediately surged 4.5%.