Quality selection is becoming even more resource-heavy

The Market regularly seeks out reasonably priced, quality companies. In Switzerland, Logitech plays Jo-Jo and is eliminated after just one month. In the US, the oil fraction continues to strengthen, and in Europe, a forest owner is making the re-entry.

The stock markets are shedding the fear of recession. Falling inflation and hopes that the US economy will have a soft landing and that the Fed will soon end its rate-hike cycle are buoying equity markets. The previously neglected sectors of energy, raw materials, finance and industry have performed particularly well in recent weeks.