Credit Suisse says 'well positioned' to take advantage of potential upside
Credit Suisse said: "In markets, the year began with a pronounced recovery in equity and debt markets from a very challenging December. Corporate earnings for the fourth quarter have been largely positive and commentary from the US Federal Reserve has been more cautious regarding future rate increases, underpinning a significant improvement in the credit markets. However, concerns over a US government shutdown, the US-China trade dispute and Brexit remain. This has resulted in a very slow start to the year in terms of Street fees across debt and equity products. There is a significant degree of uncertainty on the evolution during the rest of the first quarter and of the year. The uncertain political climate in a number of major world economies and the resultant potential disruptions to world trade are clear concerns. With our lower cost base, the reduction of our risk profile, our flexible and diversified model and the benefits flowing from the closure of our Strategic Resolution Unit, we expect to remain resilient in the face of downside risks, and believe we are well positioned to take advantage of any potential upside."