As economic risks decline, policy risks rise

This year has been remarkable in many respects. Economic growth in the US and parts of Europe exceeded expectations. US Inflation – which had been accelerating – appears to have resumed  its downward trend. Inflationary pressures in Europe have subsided sufficiently for some central banks to have started their easing cycles. Equity markets have reflected these favourable developments. 

Georgia Vishnumolakala

Prior to joining Parkview in November 2022, Georgia worked as an Accounting Associate at Aspen Trust Group, a corporate service provider in Cyprus, operating and managing the financial reporting and performing other administrative duties for a portfolio of international clients. She then joined Albourne Partners Ltd, UK, an alternative investment advisory firm, as an Operational Due Diligence Analyst.

Georgia holds a Bachelor of Science in Accounting from the University Nicosia and is a Fellow of the Association of Chartered Certified Accountants (ACCA).

Artur Melnyk

Before joining Parkview, Artur worked in the Transaction Services team at Deloitte Ukraine, where he conducted financial due diligence on businesses across various industries. After relocating to Switzerland, he became an investment analyst at a multi-family office, managing the liquid part of investment portfolios and overseeing private market transaction due diligence.

Artur holds a BA in Economics and Commerce from the University of British Columbia and is a CFA Charterholder.

Evelyne Höntsch

Prior to joining Parkview, Evelyne worked as Senior Associate / Trust Officer for more than 10 years first at Qubus Management AG and, after the merge, for Vistra Zurich AG.

Evelyne holds a diploma in business administration (dipl. Betriebswirtschafterin HF) and is fluent in German, Spanish and English and has good knowledge in Portuguese and French.

Elena Iasonidou

Elena joined Parkview in July 2022. Prior to joining Parkview, Elena held positions as a Corporate, Banking, Immigration Administrator and AML/KYC and Client Acceptance Officer in the Cyprus Legal and Corporate Services Sector.

Elena holds an LLB (Honours) degree in Law and Legal Practice Course (LPC) from the University of Manchester.

When good news isn’t good

The US economy has defied all expectations over the past year.  A much-anticipated recession in 2023 never materialised. The economy accelerated in the last quarter of the year. So far in 2024, the economy appears to be growing at a healthy clip of 2.5%. Unemployment is at exceptionally low levels. Growth in employment has been exceeding expectations, while job openings continue to exceed the number of unemployed people. This should all be good news.  

Plus ça change...

Sometimes, the more things change, the more they stay the same. The past year has been confounding for most economists. Economic data and historical precedent suggested that a US recession was likely. Yet the year came to an end with continued strength in economic activity. At the same time, inflation declined rapidly and, by some measures, reached the Fed’s target by year-end. The “soft landing” which had appeared as a narrow possibility, suddenly seemed probable. Unsurprisingly, the markets rallied.