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Introduction: The Middle East Conflict [00:00:03]

  • Introduction: The Middle East Conflict [00:00:03]
  • Market Performance (Week Ending April 17, 2026) [00:00:10]
  • Weekend Shift and Volatility [00:00:47]
  • China’s Economic Surprises [00:01:10]
  • Global Economic Calendar (Week of April 20) [00:01:46]
  • Microeconomics: Siemens (Price Target Raised) [00:02:07]

On this page

  • Introduction: The Middle East Conflict [00:00:03]
  • Market Performance (Week Ending April 17, 2026) [00:00:10]
  • Weekend Shift and Volatility [00:00:47]
  • China’s Economic Surprises [00:01:10]
  • Global Economic Calendar (Week of April 20) [00:01:46]
  • Microeconomics: Siemens (Price Target Raised) [00:02:07]
Equity/April 21, 2026/2 min read/youtu.be

Monday Report of 20 April 2026 | BORDIER & Cie Banquiers Privés

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Watch on YouTube ↗

This Monday Report from Bordier & Cie Banquiers Privés, dated April 20, 2026, provides a detailed overview of the financial landscape, heavily influenced by geopolitical developments in the Middle East and positive economic surprises from Asia.


Introduction: The Middle East Conflict [00:00:03]

  • The conflict in the Middle East remains the "key variable" for financial market direction [00:00:10].

References

  1. Original source (youtu.be)

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Reading

Published
April 21, 2026
Read time
2 min read
Progress0%

Market Performance (Week Ending April 17, 2026) [00:00:10]

  • Equities Rebound: Hopes for de-escalation revived investor risk appetite, causing most assets to rebound strongly [00:00:15].
  • U.S. Stocks: Rose 4.5%, reaching an all-time high [00:00:24].
  • Global Markets: Emerging markets rose by more than 3%, while Europe and Switzerland gained nearly 2% [00:00:30].
  • Bonds: Falling interest rates resulted in positive bond performances of approximately +0.7% in both USD and EUR [00:00:30].
  • Currencies & Gold: The Dollar Index depreciated by 0.6%, which, alongside falling rates, helped gold prices rise by 1.8% [00:00:38] [00:00:47].

Weekend Shift and Volatility [00:00:47]

  • Negotiation Disappointment: Optimism was tempered by poor progress in negotiations over the weekend [00:00:56].
  • Oil & Opening Markets: Oil prices surged back up by more than 6%, and European stocks opened down 1% on Monday morning [00:00:56] [00:01:03].
  • Outlook: Volatility is expected to remain high in line with the evolving Middle East situation [00:01:03] [00:01:10].

China’s Economic Surprises [00:01:10]

  • GDP Growth: China’s GDP grew 5% year-on-year in Q1, surprising to the upside [00:01:18].
  • Industrial Production: Accompanied by a "very satisfying" rise in industrial output [00:01:25].
  • Consumption: Retail sales are currently struggling as Chinese consumers remain cautious [00:01:31].
  • Forecast: Improving household morale over recent months bodes well for a future contribution from consumption to economic growth [00:01:39].

Global Economic Calendar (Week of April 20) [00:01:46]

  • United States: Release of April PMIs (Manufacturing and Services) and March retail sales [00:01:52].
  • Eurozone: Release of April PMIs (Manufacturing and Services) and April household confidence data [00:01:59] [00:02:07].

Microeconomics: Siemens (Price Target Raised) [00:02:07]

  • The Catalyst: The spin-off of Siemens Healthineers will be proposed at the next Annual General Meeting (AGM) in early 2027 (referenced as early next year) [00:02:14].
  • Objective: This move is intended to reduce the group's "conglomerate discount" [00:02:20].
  • Supporting Factors: This news is bolstered by constructive signals from China and the potential for a resolution of the conflict in Iran [00:02:27] [00:02:34].

Jun 2, 2026

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