--- title: Syz The Moment (12) description: Syz The Moment (12) --- [![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. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 13 Oct 2026 - - - #### The S&P 500's earnings boom is simply unprecedented this late into an economic cycle. Profits are on pace to surge 34% this year followed by another 15% gain expected in 2027. That would be 54% growth in just 2 years. Source: Charlie Bilello [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) ![The S&P 500's earnings boom is simply unprecedented this late into an economic cycle.](https://blog.syzgroup.com/hubfs/1791865997606.jpg) ![The S&P 500's earnings boom is simply unprecedented this late into an economic cycle.](https://blog.syzgroup.com/hubfs/1791865997606.jpg) 13 Oct 2026 - - - #### Goldman Sachs crushes Q3 estimates. Goldman Sachs Q3: - Adj. EPS: $17.01 vs. $13.02 est. (BEAT) - Revenue: $18.68B vs. $16.71B est. (BEAT) - Net income: $3.77B vs. $3.61B est. (BEAT) $GS shares are up +3.3% premarket. Source: Coinbureau on X [#earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![Goldman Sachs crushes Q3 estimates.](https://blog.syzgroup.com/hubfs/1791897540494.jpg) ![Goldman Sachs crushes Q3 estimates.](https://blog.syzgroup.com/hubfs/1791897540494.jpg) 12 Oct 2026 - - - #### Uranium miners are down 45% while uranium sits near $90, close to its highs. Last time miners got crushed while the metal held up was spring 2025… The Uranium Miners ETF nearly tripled in nine months Source: Katusa Research [#Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) ![Uranium miners are down 45% while uranium sits near $90, close to its highs.](https://blog.syzgroup.com/hubfs/1791745690584.jpg) ![Uranium miners are down 45% while uranium sits near $90, close to its highs.](https://blog.syzgroup.com/hubfs/1791745690584.jpg) 12 Oct 2026 - - - #### Why did oil prices remain above $100 despite the apparent supply recovery shown in the image? Five reasons: 1. Fears of war returning 2. Rising transportation costs 3. Depletion of inventories 4. Demand recovery 5. Buying oil to hedge against inflation Source: Bloomberg, Ziad Daoud [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![Why did oil prices remain above $100 despite the apparent supply recovery shown in the image?](https://blog.syzgroup.com/hubfs/1791747309934.jpg) ![Why did oil prices remain above $100 despite the apparent supply recovery shown in the image?](https://blog.syzgroup.com/hubfs/1791747309934.jpg) 12 Oct 2026 - - - #### America could shorten its debt maturities. The risks would last much longer. According to Citi’s forecast, the Treasury could cut 20-year and 30-year bond auctions in November—and potentially scrap the 20-year altogether. The goal? Issue more short-term bills, reduce long-term bond supply and ease pressure on yields. But there’s a catch. Less duration today means more refinancing tomorrow. If short-term rates stay elevated, Washington would repeatedly roll over its borrowing at expensive rates. With debt approaching $40 trillion, small changes in funding costs carry enormous consequences. And fewer long-term bonds offer no guarantee of lower yields: investors still care about inflation, deficits and fiscal credibility. Changing how America borrows may buy time. It doesn’t fix how much America owes. Source. Bull Theory [#Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) ![America could shorten its debt maturities. The risks would last much longer.](https://blog.syzgroup.com/hubfs/1791745497198.jpg) ![America could shorten its debt maturities. The risks would last much longer.](https://blog.syzgroup.com/hubfs/1791745497198.jpg) 12 Oct 2026 - - - #### S&P 500 $SPY and Nasdaq 100 $QQQ are testing the ceiling while Russell 2000 $IWM tests the floor. Source: TrendSpider [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![S&P 500 $SPY and Nasdaq 100 $QQQ are testing the ceiling while Russell 2000 $IWM tests the floor.](https://blog.syzgroup.com/hubfs/1791748011579.jpg) ![S&P 500 $SPY and Nasdaq 100 $QQQ are testing the ceiling while Russell 2000 $IWM tests the floor.](https://blog.syzgroup.com/hubfs/1791748011579.jpg) 12 Oct 2026 - - - #### Yes, fiscal discipline is achievable. Switzerland offers a powerful example. France’s fiscal troubles dominate the headlines. Yet its neighbour deserves more attention. Switzerland wasn’t always a model of sound public finances. During the 1990s, federal debt surged. Then came a turning point. In 2001, 85% of Swiss voters approved a constitutional “debt brake”, implemented in 2003. The principle is simple: → Save when the economy is strong. → Allow deficits during downturns. → Balance spending and revenues over the economic cycle. → Permit exceptional spending during major crises. The results? Federal debt fell from 56.2% of GDP in 2003 to 37.5% in 2024. Economic growth and rising revenues helped. The rule provided a framework that constrained persistent deficits while preserving room to respond to shocks. Switzerland and France have different institutions. Copying a rule alone would not guarantee the same outcome. But the Swiss experience challenges the idea that rising debt is inevitable. Fiscal discipline requires more than promises. It requires credible rules—and the political commitment to respect them. Should Switzerland feature more prominently in Europe’s fiscal debate? Source: Riccardo Trezzi [#Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) ![Yes, fiscal discipline is achievable. Switzerland offers a powerful example.](https://blog.syzgroup.com/hubfs/1791785646990.jpg) ![Yes, fiscal discipline is achievable. Switzerland offers a powerful example.](https://blog.syzgroup.com/hubfs/1791785646990.jpg) 12 Oct 2026 - - - #### What a difference 6 years makes. 2020: The lowest 10-year Treasury yields in history (below 1%) and negative real yields. 2026: The highest nominal yields since 2002 (5.31%) and the highest real yields since 2008. Source: Charlie Bilello [#Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) ![What a difference 6 years makes.](https://blog.syzgroup.com/hubfs/1791785532205.jpg) ![What a difference 6 years makes.](https://blog.syzgroup.com/hubfs/1791785532205.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/page/11) [10](https://blog.syzgroup.com/syz-the-moment/page/10) [11](https://blog.syzgroup.com/syz-the-moment/page/11) [12](https://blog.syzgroup.com/syz-the-moment/page/12) [13](https://blog.syzgroup.com/syz-the-moment/page/13) [14](https://blog.syzgroup.com/syz-the-moment/page/14) [❯](https://blog.syzgroup.com/syz-the-moment/page/13) [❯❯](https://blog.syzgroup.com/syz-the-moment/page/1251?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. Follow us ## **Thinking** out loud - - - - ## **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/)