Report published August 14, 2026
Bank J. Safra Sarasin Cross-Asset Weekly: The End of the Summer Lull
Source and citation context
- Issuer
- Bank J. Safra Sarasin
- Report date
- August 14, 2026
- Analysis as of
- August 13, 2026
Authors / editors: Dr. Karsten Junius, CFA (Chief Economist), Raphael Olszyna-Marzys (International Economist), Mali Chivakul (Emerging Markets Economist), Alex Rohner (Fixed Income Strategist), Dr. Claudio Wewel (FX Strategist), Wolf von Rotberg (Equity Strategist)
Finvaulta summarizes Bank J. Safra Sarasin's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
J. Safra Sarasin upgraded its year-end S&P 500 target to 8,200 and raised growth projections for the US and Eurozone following strong Q2 earnings and resilient AI-driven investment. The firm shifted equity preferences toward Information Technology, Industrials, and Eurozone equities while anticipating further monetary tightening from the Fed and Bank of Japan.
Key Takeaways
- 1.Upgraded S&P 500 year-end target to 8,200 (from 8,000) and upgraded Tech and Industrials to 'most preferred', while rotating out of Swiss equities and Healthcare into cyclical Eurozone equities.
- 2.Global growth forecasts upgraded for the US and Eurozone amid resilient economic activity and AI capex momentum, but persistent above-target inflation will prompt further rate hikes by the Fed and Bank of Japan.
- 3.In Fixed Income, intermediate maturities (5-7 years) remain preferred for carry and rolldown, while a neutral stance on credit is maintained despite historically tight spreads.
Table of Contents
- The end of the summer lull
- This week's highlights
- JSS Forecast overview
- Monthly macro and strategy forecast update
- Global macro
- Fixed Income
- FX
- Equities
- Economic Calendar
- Market Performance
Report data
Stock Index Price Targets — as of August 13, 2026.
| Metric | Estimate | Context |
|---|---|---|
| S&P 500 Price Target (4Q26) | 8200 index points | Upgraded from 8,000 due to stronger earnings and macro resilience. |
| Hyperscaler 2026 Capex Forecast | >700 USD billion | Aggregated capex spending of US hyperscalers. |
| US GDP Growth Forecast (2027) | 2.1% | Upgraded from 1.9%. |
| Euro Area GDP Growth Forecast (2026) | 1.0% | Upgraded from 0.5%. |
| Brent Crude Average Price Forecast (6-12 Months) | 75-80 USD/barrel | Compared to the H1 average of $92. |
Reports in this series
Cross-Asset Weekly is shown in chronological order through this edition, published on August 14, 2026.
Looking for the latest edition? CrossAssetWeekly 20260828 en (Aug 28, 2026)
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- S&P 500 Price Target (4Q26): 8200 index points (4Q26) · Source: Bank J. Safra Sarasin
- Hyperscaler 2026 Capex Forecast: >700 USD billion (2026) · Source: LSEG Datastream, Bank J. Safra Sarasin
- US GDP Growth Forecast (2027): 2.1 % (2027) · Source: Bank J. Safra Sarasin
- Euro Area GDP Growth Forecast (2026): 1.0 % (2026) · Source: Bank J. Safra Sarasin
- Brent Crude Average Price Forecast (6-12 Months): 75-80 USD/barrel (Next 6-12 months) · Source: Bank J. Safra Sarasin