Cryptocurrencies have had a good start to 2023.The asset class is still in its infancy and prone to extreme volatility, but the real challenge is that the underlying blockchain technologies will soon need to cease being merely 'promising' and start delivering large-scale key services to the real economy.

• 23

The energy and inflation crises have uncovered cracks in the long-standing global foreign exchange regime. A new approach to currency management is required to face the immediate challenges, and the rise of an alternative regime.

After years of dormant peripheral risk, the recent resurgence of fragmentation issues in Europe, amid rising stagflationary risks at a time of Central Banks committing to tame inflation, puts the delicate fiscal and monetary equilibrium under the spotlight.

Understanding the current situation of global real estate markets and their likely evolution in a high-inflation regime.

Our Global Views team attempts to answer some of the questions often asked by our clients.

More directly than other types of cryptocurrencies, the rapidly growing stablecoins may soon bring new opportunities and risks to payments and finance.

Election outcome: The most likely winner in terms of votes and seats will either be the Social Democratic Party (SPD) or the conservative Christian Democratic Union/Christian Social Union (CDU/CSU). Likely scenarios include the ‘traffic-light’ coalition (SPD-Greens-pro-market Liberal Democratic Party, FDP) or the ‘Jamaica’ coalition (CDU/CSU-Greens-FDP). However, other combinations are possible.

As the European economy is recovering from the largest economic shock of modern history, we are revising our growth and inflation assumptions to the upside.

Despite the Covid economic shock, house prices have continued to rise in most advanced economies, and are also increasing rapidly in some emerging economies. This is not (yet) a global housing boom. Indeed, indicators of overvaluation remain below those observed before the Great Financial Crisis (GFC) and are still very contrasted across regions.