--- title: Fast food for thought | Charles-Henry Monchau, CFA, CMT, CAIA (2) description: Chief Investment Officer (2) --- [![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. 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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## **Fast food** for thought Insights and research on global events shaping the markets - [All](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thought/tag/flash) - [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) [Food for Thought](https://blog.syzgroup.com/fast-food-for-thought/tag/food-for-thought) #### [The Fed hikes: answers to 7 FAQs](https://blog.syzgroup.com/fast-food-for-thought/the-fed-hikes-answers-to-7-faqs) Flash note - Investment strategy **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 17/09/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Bond market vs US Treasury: who will yield?](https://blog.syzgroup.com/fast-food-for-thought/bond-market-vs-us-treasury-who-will-yield) Nothing seems to curb the 10-year Treasury yield’s rise. Meanwhile, Japan’s currency defense is drying up it’s FX reserves and the S&P 500 is hiding something important. 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)** | 14/09/2026 [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1789199400290) U.S. stocks ended the holiday-shortened week lower as escalating Middle East tensions pushed oil prices toward $110 per barrel, reviving inflation concerns and driving Treasury yields higher. Small and mid-caps suffered most: the Russell 2000 fell 2.4% and the S&P Mid-Cap 400 lost 1.9%, while the Nasdaq declined just 0.7%.The 10-year Treasury yield approached 5%, pressured by higher energy prices, persistent inflation, heavy government issuance and a smaller-than-expected Treasury buyback. August data reinforced expectations of a September Fed rate hike. Producer prices rose 5.4% year-on-year, while core consumer prices increased 0.3% month-on-month—slightly above forecasts. Markets subsequently raised the probability of a September hike to 87%. Meanwhile, jobless claims remained stable, suggesting continued labour-market resilience. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 12/09/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [A record US-China yield gap?](https://blog.syzgroup.com/fast-food-for-thought/a-record-us-china-yield-gap) Meanwhile, European countries are having their own bond crisis. 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)** | 07/09/2026 [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1788602054679) Major U.S. stock indexes finished the week narrowly mixed as investors weighed renewed U.S.-Iran hostilities, rising oil prices, a better-than-expected jobs report, and shifting Federal Reserve monetary policy expectations. The Dow Jones Industrial Average lost 0.27%, while the Nasdaq Composite added 0.40%. The S&P 500 and the Russell 2000 indexes were little changed. Growth stocks outperformed their value counterparts by the widest margin in a month. Within the S&P 500, the energy sector posted the strongest gains as oil prices rose amid renewed Middle East tensions. Treasury yields moved higher alongside oil prices, with the 10-year reaching roughly 4.82% intraday on Wednesday before retracing somewhat on Thursday after Fed Governor Christopher Waller said he would be inclined to keep rates unchanged if incoming data confirm that disinflation is continuing. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 05/09/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Nvidia’s record-breaking day](https://blog.syzgroup.com/fast-food-for-thought/nvidias-record-breaking-day) Victoria’s Secret is back: a $100,000 investment has quadrupled since the Fashion Show’s return was announced. 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)** | 31/08/2026 [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1787989646200) Major U.S. stock indexes ended the week mixed. The S&P 500 and Nasdaq Composite advanced in light trading, while mid- and small-cap benchmarks declined. Nvidia delivered another exceptional quarter, with fiscal Q2 revenue surging 106% year-on-year. Stronger-than-expected guidance and continued momentum in AI infrastructure spending sent its shares 8.7% higher on Thursday, lifting the broader technology sector. At Jackson Hole, Fed Chair Kevin Warsh struck a hawkish tone. He argued that the economy remains resilient, financial conditions are not restrictive, and underlying inflation has not improved enough to declare victory. The Treasury yield curve flattened following his remarks, while core PCE inflation came in line with expectations. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 29/08/2026 [Food for Thought](https://blog.syzgroup.com/fast-food-for-thought/tag/food-for-thought) #### [The Ox in the room](https://blog.syzgroup.com/fast-food-for-thought/the-ox-in-the-room) Ox Alpha, an anonymous model nobody has claimed, has just taken the 1st place on the world’s busiest LLM marketplace. The story is not about China. It is about pricing power and about who ultimately earns a return on a trillion dollars of AI infrastructure. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 25/08/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [America’s $40tn debt mountain](https://blog.syzgroup.com/fast-food-for-thought/americas-40tn-debt-mountain) Meanwhile, we compare US debt added under each president and explore the Swiss franc’s emergence as a new funding currency for carry trades. 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)** | 24/08/2026 [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1787386225846) Major U.S. equity indexes finished the week lower as elevated Treasury yields, renewed U.S.-Iran tensions, higher oil prices, and weakness in semiconductor and artificial intelligence (AI)-related shares broadly weighed on investor sentiment. Mixed takeaways from several retail earnings reports also appeared to contribute to the week’s cautious tone. The Nasdaq and Russell 2000 Index shed 2.05% and 1.65%, respectively. The Dow Jones Industrial Average held up best, falling 0.85%. Long-term U.S. Treasury yields rose early in the week, with the yield on the 30-year U.S. Treasury bond reaching its highest level since 2007. Rising concerns around the U.S. fiscal outlook and heavy government and corporate debt issuance including financing tied to AI capex appeared to contribute to the sell-off. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau)** | 22/08/2026 [❮](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/1) [1](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/1) [2](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/2) [3](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/3) [4](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/4) [5](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/5) [❯](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau/page/3) ## **Investing** with intelligence Our latest research, commentary and market outlooks #### [Weekly Market Update](https://blog.syzgroup.com/fast-food-for-thoughts/tag/weekly-market-update?hsLang=en) #### [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus?hsLang=en) #### [Asset Allocation Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights?hsLang=en) #### [Semi-annual Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/semi-annual-outlook?hsLang=en) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [Terms & conditions](https://www.syzgroup.com/sites/default/files/document/2021-12/001-2_en-general_terms_and_conditions_w.pdf) - [Data protection notice](https://www.syzgroup.com/en/data-protection-notice) - [Cookies policy](https://www.syzgroup.com/en/legal-notices) - [Syzgroup.com](https://www.syzgroup.com/)