{"id":1447639,"date":"2026-09-07T10:48:02","date_gmt":"2026-09-07T08:48:02","guid":{"rendered":"https:\/\/www.payoff.ch\/news\/macroeconomic-data-set-the-pace"},"modified":"2026-09-09T10:19:30","modified_gmt":"2026-09-09T08:19:30","slug":"macroeconomic-data-set-the-pace","status":"publish","type":"post","link":"https:\/\/www.payoff.ch\/en\/news\/macroeconomic-data-set-the-pace","title":{"rendered":"\u00abThe Week\u00bb: Macroeconomic data set the pace"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Switzerland<\/h3>\n\n\n\n<p>Thanks to a significantly improved product lineup, the shares of <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH1431598916\" target=\"_blank\" rel=\"noreferrer noopener\">Inficon<\/a><\/strong> (ticker symbol: IFCN SW) are once again gaining investor confidence. <em>Earnings before interest and taxes (EBIT) could rise from USD 135.2 million to USD 234.7 million between 2023 and 2028, making it advisable to reinvest the dividend in new shares annually.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The securities of the <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH0311864901?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">VAT Group<\/a><\/strong> (ticker symbol: VACN SW) have picked up momentum again in recent days: +58.75% since the start of the year. <em>The book value per share could rise from CHF 25.24 to CHF 46.94 between 2023 and 2028, which would make the price performance of the past few months for this CHF 18.36 billion-market-cap stock seem more understandable<\/em><strong>.<br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The securities of the <a href=\"https:\/\/www.payoff.ch\/basiswerte\/CH1252930610?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Luzerner Kantonalbank<\/strong><\/a> (ticker symbol: LUKN SW) have risen 27.94% since the start of the year. <em>The book value per share could rise from CHF 76.1 to CHF 93.19 between 2023 and 2028, which would further explain the stock\u2019s upward momentum. The dividend per share could increase from CHF 2.5 to CHF 2.965 between 2023 and 2028, which would be considered a remarkable development.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>For SPI index constituents <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">DKSH Holding<\/a><\/strong> (ticker symbol: DKSH SW), the positive trend continues: +15.51% since the start of the year. <em>According to quantitative models, operating profit (EBIT) could improve from CHF 329.9 million to a new record high of CHF 414.3 million between 2023 and 2028. The growing dividend payout per share\u2014from CHF 2.25 to CHF 2.926\u2014could be reinvested annually.<\/em><strong><br>Trading strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The hearing aid manufacturer <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH0012549785?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Sonova<\/a><\/strong> (ticker symbol: SOON SW) has been performing well for some time now: +13.38% since the start of the year. <em>An improvement in operating income is projected for the period between 2023 and 2028, rising from CHF 669.9 million to CHF 975.2 million. The dividend per share could rise from CHF 4.3 to CHF 5.5 during the same period, making it advisable to reinvest the dividend annually in new shares.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Europe<\/h3>\n\n\n\n<p>The shares of the Dutch bank <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/NL0011821202?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">ING<\/a><\/strong> (ticker symbol: INGA NA) are experiencing a significant upswing: Since the beginning of the year, the stock has risen by 33.30%. <em>According to recent analyses, operating profit could rise from EUR 11.011 billion to EUR 14.353 billion between 2023 and 2028, which would be considered extremely significant. The dividend per share could also improve from EUR 1.106 to EUR 1.655, which would make an investment in the company appear more attractive for the future.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The long-term stock price performance of the Spanish energy stock <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/ES0173516115?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Repsol<\/a><\/strong> (ticker symbol: REP SM) can be described as exceptional: Despite a 74.19% increase since the start of the year, the stock continues to be viewed as promising. <em>Book value per share could rise from EUR 21.53 to EUR 30.92 between 2023 and 2028. The dividend could increase from EUR 0.9 to EUR 1.249 over the same period.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>Shares of the Dutch <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/NL0011540547?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">ABN AMRO<\/a><\/strong> (ticker symbol: ABN NA) are currently considered an attractive investment. <em>The dividend per share could rise from EUR 1.51 to EUR 2.33 between 2023 and 2028. With an EBIT margin of 48.71% as of 2028 and an expected dividend yield of 5.4% in 2028, the overall situation would support taking a position.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The securities of the London- and Hong Kong-based <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/GB0005405286?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">HSBC<\/a><\/strong> (ticker symbol: HSBC LN) have risen by 34.62% since the start of the year. <em>The company forecasts an increase in earnings per share between 2023 and 2028, from USD 1.14 to USD 1.985. A record dividend payout per share of USD 1.031 is projected for 2028 (dividend yield: 4.83%). The EBIT margin could reach a record high of 53.31% in 2028.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>Shares of the Spanish <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/ES0140609019?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">CaixaBank<\/a><\/strong> (ticker symbol: CABK SM) have been on a steady upward trend: +29.39% since the start of the year. <em>Book value per share could rise from EUR 4.93 to EUR 6.337 between 2023 and 2028. The EBIT margin could reach a new record high of 64.35% in 2028, which, in a historical context, would be considered a strong figure for the company.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The securities of the French asset manager <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/FR0004125920?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Amundi<\/a><\/strong> (ticker symbol: AMUN FP) are considered attractive, with the upward trend expected to continue through the end of 2028. <em>The book value per share of this stock, which has a market capitalization of EUR 19.6 billion, could rise significantly from EUR 55.9 to EUR 70.06 between 2023 and 2028.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">US\/CAN<\/h3>\n\n\n\n<p>Conservative investors are betting on the agricultural equipment manufacturer <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/US2441991054?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Deere<\/a><\/strong> (ticker symbol: DE US), Caterpillar\u2019s biggest competitor. <em>Book value per share could rise from $74.56 to $121.4 between 2023 and 2028. Return on assets (ROA) could reach a peak of 16.71% in 2028.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The Stock Market High-Flier <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/US04626A1034?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Astera Labs<\/a><\/strong> (ticker symbol: ALAB US) is currently performing exceptionally well on the stock market. <em>Earnings before interest and taxes (EBIT) could grow from $119.6 million to $1.687 billion between 2024 and 2028, which would represent exceptionally strong growth.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p>The technology stock <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/US4824801009?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">KLA<\/a><\/strong> (ticker symbol: KLAC US) is one of the most interesting stocks on the market. <em>Cash flow per share could rise from USD 2.617 to USD 6.941 between 2023 and 2028, which would underscore the company\u2019s strategic direction. A record dividend payout is also expected in 2028.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/US21871X1090?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Corebridge Financial<\/a><\/strong> (ticker symbol: CRBG US) is one of the most interesting stocks on the market. <em>With a market capitalization of USD 15.37 billion, the book value per share could rise from USD 18.93 to USD 34.83 between 2023 and 2028. With a record return on equity (ROE) of 12.61% in 2028, the overall picture would look promising\u2014a stock with long-term potential.<\/em><strong><br>Trading Strategy: <\/strong>Reload<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Sincerely, Your<br><strong>Fran\u00e7ois Bloch<\/strong><\/p>\n\n\n\n<div style=\"height:67px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-embed-aspect-4-3 wp-has-aspect-ratio\"><\/div>\n\n\n\n<p class=\"has-small-font-size\">____<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Investment idea of the week<\/h3>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group has-weiss-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-8cf370e7 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-media-text is-stacked-on-mobile\" style=\"grid-template-columns:28% auto\"><figure class=\"wp-block-media-text__media\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-1024x1024.png\" alt=\"\" class=\"wp-image-1445522 size-full\" srcset=\"https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-1024x1024.png 1024w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-750x750.png 750w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-150x150.png 150w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-768x768.png 768w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt-1536x1536.png 1536w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/05\/The-Week-Mail-Produkt.png 1582w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p>It is important to us to provide you with a concrete investment idea. This week, Fran\u00e7ois Bloch has chosen to implement it with <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH1169360919?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Accelleron Industries<\/a><\/strong>, <a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH0009002962?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Barry<\/strong> <strong>Callebaut<\/strong><\/a>, <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH0013841017?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Lonza<\/a><\/strong> and <strong><a href=\"https:\/\/www.payoff.ch\/en\/basiswerte\/CH0012255151?show_back=1\" target=\"_blank\" rel=\"noreferrer noopener\">Swatch<\/a><\/strong> pronounced.<\/p>\n\n\n\n<p>An <strong>Autocallable Multi-Barrier Reverse Convertible with the <a href=\"https:\/\/structuredproducts.lukb.ch\/product\/detail\/valor\/153090301\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">ISIN CH1530903017<\/a><\/strong> on the four stocks stands out as a stabilizing element in any portfolio, featuring a<strong>coupon of 15.3%<\/strong>, a barrier at <strong>59.00%<\/strong>, and a 12-month term.<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-orange-background-color has-background wp-element-button\" href=\"https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/09\/Termsheet-en-153090301.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Final terms<\/strong><\/a><\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<div style=\"height:67px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-embed-aspect-4-3 wp-has-aspect-ratio\"><\/div>\n\n\n\n<p class=\"has-small-font-size\">____<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Long-Term Returns with Fran\u00e7ois Bloch and the Coupon Collector<\/h3>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group has-weiss-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-8cf370e7 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-media-text has-media-on-the-right is-stacked-on-mobile is-vertically-aligned-center\" style=\"grid-template-columns:auto 28%\"><div class=\"wp-block-media-text__content\">\n<h3 class=\"wp-block-heading\">The Coupon Collector Gains Momentum<\/h3>\n\n\n\n<p>Selected stock ideas from Fran\u00e7ois Bloch, implemented using barrier reverse convertibles\u2014bundled in the <a href=\"https:\/\/amc.mavx.com\/de\/products\/details\/CH1272476933\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>\u201cThe Week \u2013 Coupon Collector Index.\u201d<\/strong><\/a><\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-orange-background-color has-background wp-element-button\" href=\"https:\/\/amc.mavx.com\/de\/products\/details\/CH1272476933\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong><strong>Discover our portfolio and products now<\/strong><\/strong><\/a><\/div>\n<\/div>\n<\/div><\/div>\n<\/div><figure class=\"wp-block-media-text__media\"><a href=\"https:\/\/amc.mavx.com\/de\/products\/details\/CH1272476933\" target=\"_blank\" rel=\" noreferrer noopener nofollow\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-1024x1024.jpg\" alt=\"\" class=\"wp-image-1447305 size-full\" srcset=\"https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-1024x1024.jpg 1024w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-750x750.jpg 750w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-150x150.jpg 150w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-768x768.jpg 768w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-1536x1536.jpg 1536w, https:\/\/www.payoff.ch\/wp-content\/uploads\/2026\/08\/shutterstock_2137530247_q-2048x2048.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<div style=\"height:67px\" aria-hidden=\"true\" class=\"wp-block-spacer wp-embed-aspect-4-3 wp-has-aspect-ratio\"><\/div>\n\n\n\n<p class=\"has-small-font-size\">____<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">This Wednesday at 5:00 p.m.: \u201cBloch Live\u201d<\/h3>\n\n\n\n<p>Look forward to a lively conversation between two experts, fascinating topics, and candid opinions. <strong>Be there!<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-responsive embed-responsive-16by9\"><iframe title=\"Top-Aktien mit Fran\u00e7ois Bloch\" src=\"https:\/\/www.youtube.com\/embed\/VvaMDAFIlb8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p class=\"has-small-font-size\">___<\/p>\n\n\n\n<p class=\"has-small-font-size\"><br><strong>Disclaimer<\/strong>: Lucht Probst Associates AG and Fran\u00e7ois Bloch do not receive any payments or commissions from the products mentioned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VAT Group Sees Significant Price Surge \u2013 HSBC Literally Explodes on the Stock Market \u2013 Astera Labs Named the New High-Flying Stock<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[222],"tags":[229],"class_list":["post-1447639","post","type-post","status-publish","format-standard","hentry","category-trading-desk-en","tag-the-week"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/posts\/1447639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/comments?post=1447639"}],"version-history":[{"count":4,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/posts\/1447639\/revisions"}],"predecessor-version":[{"id":1447652,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/posts\/1447639\/revisions\/1447652"}],"wp:attachment":[{"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/media?parent=1447639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/categories?post=1447639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.payoff.ch\/en\/wp-json\/wp\/v2\/tags?post=1447639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}