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Despite the uncertain times, aggregate global wealth grew by 12.7% in 2021, which is the fastest annual rate ever recorded. On the other hand, inflation has influenced wealth levels this century and will continue to do so in the upcoming years.

The industries that typically employ more women, including healthcare, administrative services, education, hospitality, and restaurants, were among the most heavily impacted by the COVID-19 pandemic.¹ Women suffered disproportionate job and income losses as a result of their overrepresentation in the hardest-hit sectors.

The Credit Suisse Healthcare Database offers unique insights into the treatment of various diseases. It shows that immuno-oncology as a treatment for cancer has rapidly emerged as a $30 billion+ global market, with the potential for significant growth.

In recent weeks, we have seen a powerful rebound in equity markets, as investor sentiment improved from depressed levels. This rally has diminished the upside of equities, and we are wary that market sentiment may have become too confident given that numerous risks persist. The Credit Suisse Investment Committee has therefore decided to shift equity allocations to neutral levels.

Reforestation plays a key role in addressing long-term climate change challenges, yet ten million hectares (or around 40% of the size of the UK) of forests are lost each year. Worse still, most of the loss occurs in areas where the carbon storage capacity of trees is high. With the rate of new forest expansion declining and demand for deforestation-related commodities rising, action is needed.

Energy security and climate change have become dual drivers renewing interest in electricity produced from nuclear energy. The Credit Suisse Nuclear Energy Report 2022 considers the efficiency and environmental merits and challenges of the technology. It also presents the controversy and political discord, and demonstrates that, in defining the future for nuclear, questions remain around whether it is possible to attract the financing required and overcome society's safety concerns for people and planet.

From an investor point of view, the first six months of this year turned out to be a perfect storm: Global equities, as measured by the MSCI AC World, lost 21%, while the S&P 500 recorded its worst total return in 60 years. At the same time, yield moves far exceeded anything observed in any tightening cycle over the last 30 years. In the first half, global bonds, as measured by the Barclays Global Aggregate Index, shed 15%.

It has been a challenging year so far for financial markets, with high inflation, increasingly hawkish central banks and the war in Ukraine giving investors plenty to worry about: equity markets remain below their previous highs, while government bond yields are up substantially.

Besides serving as an alternative investment, collectibles are tangible assets that offer satisfaction and pleasure to their owners, furthering their personal interests and passions.