Bank von Ernst, the Swiss private bank, is reducing its US exposure and increasing the weighting of i...
Bank von Ernst, the Swiss private bank, is reducing its US exposure and increasing the weighting of its European investments. The company believes that the US is about to enter a period of economic slowdown in the face of rising interest rates and commodity prices. On the other hand, the bank believes that Europe is in the process of moving into an economic recovery. These factors, combined with the restructuring stories seen throughout the EU, has persuaded Bank von Ernst to make the shift. Peter Bolland, who heads up the bank's UK operations, said: "The index gains in 1999 are attri...
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