Switzerland finds itself in a world increasingly shaped by giants. Artificial intelligence is rewiring expectations, trade dynamics are shifting supply chains, and debt concerns are rising again. For a small, hyper‑connected economy, the challenge is to steer through these global tidal forces, while keeping growth, competitiveness, and stability in view as 2026 approaches.

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James Mazeau

CIO Economist

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Clemence Dumoncel- Kessler

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Thomas Veraguth

CIO Real Estate Analyst

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Investment Communications Strategist


Borrowing: A strategic tool for your financial plan

In today’s low-interest rate environment, borrowing can be a valuable part of a well-structured financial strategy. Whether you are considering a mortgage for real estate or a loan secured by your financial assets, reviewing your borrowing capacity may help you make the most of current market conditions.

Borrowing against real estate

For homeowners, a large share of wealth may be concentrated in property, which can limit diversification and overall investment performance. By keeping or increasing your mortgage, you can free up liquidity to invest in a diversified portfolio—helping to improve your risk-return profile and support long-term wealth growth.

Borrowing against an investment portfolio

Borrowing is sometimes viewed as a sign of overextending, but when incorporated into a prudent financial plan, it can offer additional opportunities. Appropriate borrowing strategies may help reduce tax burdens, enhance portfolio returns, and improve diversification—while still managing associated costs and risks.


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