--- title: Syz Blog | Syz Group description: Blog --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. You can change your settings below to refuse the use of cookies. For more information, please refer to the [Cookies policy](https://www.syzgroup.com/en/legal-notices). Mandatory cookies Functional cookies Statistics & marketing I confirm I am not a US citizen residing in the US I confirm I am not accessing this site from the US I confirm that I am not a resident of Canada (except for Ontario, Quebec, British Columbia or Alberta). Agree and confirm ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… You chose the following profile. If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Focus ### [Alphabet’s full stack strategy: hard to copy, harder to pay for](https://blog.syzgroup.com/slow-food-for-thought/alphabets-full-stack-strategy-hard-to-copy-harder-to-pay-for?hsLang=en) AI assistants are challenging Google's dominance in Search. That story is now well known. Far less attention has been paid to what Alphabet has been building on the other side of the AI race: a full stack stretching from its own chips to products used by billions. At its heart is the Tensor Processing Unit (TPU), a chip developed for internal use a decade ago that has since become a product rival that AI labs are willing to pay for. This combination is difficult to replicate and is already driving growth. The catch? The economics are far less attractive than those of Search, with significantly lower profitability. **[Malek Dahmani](https://blog.syzgroup.com/slow-food-for-thoughts/author/malek-dahmani?hsLang=en)** | 03/11/2026 Focus ### [Privacy: the missing layer of institutional finance](https://blog.syzgroup.com/slow-food-for-thought/privacy-the-missing-layer-of-institutional-finance?hsLang=en) The privacy coin sector is the only part of the crypto market trading above last year’s peak, and the US market’s main settlement house has just launched a tokenisation service on a confidential blockchain. Hiding transactions, long seen as a red flag, is starting to look like a condition for institutional adoption. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/slow-food-for-thoughts/author/charles-henry-monchau?hsLang=en)** | 03/11/2026 The week in seven charts ### [Binance hit by a $6.3bn hack](https://blog.syzgroup.com/fast-food-for-thought/binance-hit-by-a-6.3bn-hack?hsLang=en) Meanwhile, France’s debt problem has no clear political owner, and Europe’s housing markets are moving in different directions. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thoughts/author/charles-henry-monchau?hsLang=en)** | 02/11/2026 investing ### [Earnings deliver, AI spends, central banks wait, markets rotate](https://blog.syzgroup.com/slow-food-for-thought/earnings-deliver-ai-spends-central-banks-wait-markets-rotate?hsLang=en) AAI **[-](https://blog.syzgroup.com/slow-food-for-thoughts/author/-?hsLang=en)** | 30/10/2026 ## **Slow food** for thought Insights and research on global events shaping the markets [Focus](https://blog.syzgroup.com/slow-food-for-thought/tag/focus?hsLang=en) #### [Alphabet’s full stack strategy: hard to copy, harder to pay for](https://blog.syzgroup.com/slow-food-for-thought/alphabets-full-stack-strategy-hard-to-copy-harder-to-pay-for?hsLang=en) AI assistants are challenging Google's dominance in Search. That story is now well known. Far less attention has been paid to what Alphabet has been building on the other side of the AI race: a full stack stretching from its own chips to products used by billions. At its heart is the Tensor Processing Unit (TPU), a chip developed for internal use a decade ago that has since become a product rival that AI labs are willing to pay for. This combination is difficult to replicate and is already driving growth. The catch? The economics are far less attractive than those of Search, with significantly lower profitability. **[Malek Dahmani](https://blog.syzgroup.com/slow-food-for-thought/author/malek-dahmani?hsLang=en)** | 03/11/2026 [Focus](https://blog.syzgroup.com/slow-food-for-thought/tag/focus?hsLang=en) #### [Privacy: the missing layer of institutional finance](https://blog.syzgroup.com/slow-food-for-thought/privacy-the-missing-layer-of-institutional-finance?hsLang=en) The privacy coin sector is the only part of the crypto market trading above last year’s peak, and the US market’s main settlement house has just launched a tokenisation service on a confidential blockchain. Hiding transactions, long seen as a red flag, is starting to look like a condition for institutional adoption. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/slow-food-for-thought/author/charles-henry-monchau?hsLang=en)** | 03/11/2026 [View More](https://blog.syzgroup.com/slow-food-for-thought?hsLang=en) ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment?hsLang=en) ## **Fast food** for thought Insights and research on global events shaping the markets [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts?hsLang=en) #### [Binance hit by a $6.3bn hack](https://blog.syzgroup.com/fast-food-for-thought/binance-hit-by-a-6.3bn-hack?hsLang=en) Meanwhile, France’s debt problem has no clear political owner, and Europe’s housing markets are moving in different directions. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau?hsLang=en)** | 02/11/2026 [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook?hsLang=en) #### [Click here to read our #globalmarkets weekly wrap up (Clone)](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-clone-1?hsLang=en) Major U.S. stock indexes closed the week mixed as large-cap growth and AI-related stocks sharply reversed early-week gains to finish lower, while small-cap and value-oriented stocks outperformed. The Russell 2000 index advanced 1.30%, while the Nasdaq Composite shed 2.00%, the Dow Jones Industrial Average lost 0.85%, and the S&P 500 Index dropped 0.57%. Large-cap value stocks outperformed their growth counterparts for the fourth consecutive week. AI-related stocks rallied early in the week, rebounding from the prior week’s declines as some upbeat earnings results, funding announcements, and generally favorable management commentary helped renew optimism surrounding demand and capital spending. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau?hsLang=en)** | 31/10/2026 [View More](https://blog.syzgroup.com/fast-food-for-thought?hsLang=en) # Crypto corner A monthly deep dive into crypto assets [Discover more](https://blog.syzgroup.com/crypto-corner?hsLang=en) # AI Insights Hand-curated selection of the latest developments in the AI world [Discover more](https://blog.syzgroup.com/syz-ai-insights?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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