Markets : EURUSD now on 18months lows (EURJPY still massively higher..JPN liquidation coming ? seems so) - EUR-Crisis 2.0 ?... (France debt, Spanish snap election etc), USD bounces back after weak NFP on Friday, Brent crude still around $100, Brail markets (ETF) rallies nearly 7% overnight on Bolsonaro lead and most likely win, Luxury London homes values are down by almost Half in Real Terms, G7 agreed to release 100mio barrels of diesel and crude last week >>> SPX500, QQQ on highs, yet not all that well underneath it all (same old picture..), rates dipped on weak NFP but didn't stay low for long Trump tells South Korea to sign on to Alaska LNG deal or ‘I’ll just charge them more’ ‘Unwelcome and unsafe’: Why Japanese companies are retreating from China at a record pace Russia hospitalizes almost 200 people after researcher’s death from plague Trump tells South Korea to join Alaska LNG deal or pay more Euro sinks to 17-month low as French fiscal woes spur contagion fears | Reuters Nic on X: "Japanese investors are DUMPING French bonds. They hold $145 billion worth & now they're heading for the exits Holdings are down 2.5% this year and some like Sumitomo Mitsui sold everything. Even with French yields at their highest level since 2002, they don't offer much more https://t.co/euBgPD6szA" / X Micron just sent a stark memory chip warning to tech stock investors - TheStreet Surging Treasury yields don’t signal a U.S. 'fiscal apocalypse' — yet Japan's century-old businesses are disappearing at a record pace Bolsonaro leads Lula as Brazil election goes to run-off Under pressure from the PSOE and the government, Sánchez is heading for a snap election - Il Sole 24 ORE Swiss Senate introduces new immigration tax - SWI swissinfo.ch Startup success is rare enough in the UK without any more taxes ‘People are deserting it’: why are London mansions struggling to sell? | Property | The Guardian Plague: Russia hospitalizes almost 200 people after death: Reports

Europe is finding itself sandwiched from all sides when it comes to refined products — diesel in particular (some of the damage is due to the US-Iran war; some is due to Ukraine-Russia; some is due to China, and a lot is self-inflicted). Policy response: Head in the sandAmazon seeks to shift about $8bn of NVDA's chips off its balance-sheet, and lease them back with investors providing financing (CoreWeave did the same, same as hyperscalers do, NVDA finances companies to buy NVDA chips..and these companies hige the debt in SPV's..>>> This is most-desperate thing 'ever'..but so 2026 !... Markets : 'Welcome back,’ says Macron, as British PM opens door to EU return (repeat..won't happen, can't happen, but closer to EU, bilaterals type scenario, sure is a 'must'), US tells France and Germany to release diesel stocks or face US export ban, Fed’s Lorie Logan said rates need to rise to fully cool inflation, suggesting US yields may also help slow the economy, Investors dumped the BlackRock Mortgage Bond ETF last month at the fastest pace in history, surpassing the Global Financial Crisis and Covid, bank continue to weaken (GS is now 20% off highs-for example), JPN Inflation 2.7% (exp 2.3% - BoJ's target blown through) >>> French bonds a clear issue for EURO going into 2027, bond market sell-off beginning to really hurt, and repricing of risk buckets happening (heavily geared companies in big struggle), clear 'risks' going into Q4 2026.. (diesel, Middle east still, hyperscalers 'off-balance-sheet' deals, plenty of elections coming up, with Brazil first round this weekend, US med-terms soon ! andof crouse France next year US deploys more troops | The Pentagon will deploy 10,000 more troops and a third aircraft carrier to the Middle East, | Iran is preparing a broader and more forceful response if the United States resumes large-scale military attacks Japan’s prime minister says her policies will boost confidence in the yen after U.S. intervention falls short Amazon seeks to offload $8 billion of Nvidia chips to investors, FT reports | Reuters US won't 'sit there and take' overproduction from China: USTR Greer - Nikkei Asia France: Student protests over conditions at French high schools fuel political clashes French bond spreads widen as OAT market pressure intensifies EU nations to hold emergency meeting on soaring diesel prices amid US pressure - CNA Brazil election: U.S.-China rivalry and government debt loom large CNBC Daily Open: Bond yield whiplash grips global economy Andy Burnham's 'big gamble' to put London back at heart of Europe after Brexit blunder | The Standard Bargain Britain lures foreign buyers as hostile takeovers surge Merz accuses Russia of supporting Germany's far-right AfD | RBC-Ukraine Japan: Yen valuation is a problem, intervention efforts disappoint Tokyo core inflation rate jumps in September, bolsters case for more BOJ hikes | Reuters South Korean President Lee warns of 'measures' against Ukraine Bond markets give France a whacking for fiscal irresponsibility Sir Alex Ferguson on brain haemorrhage and games that shaped his life - BBC Sport ‘Wrongdoing’ at Manchester City should lead to ‘appropriate consequences’, says Downing Street | ITV News Granada Swiss gas sector views coming winter with concern - SWI swissinfo.ch

Amazon seeks to shift about $8bn of NVDA's chips off its balance-sheet, and lease them back with investors providing financing (CoreWeave did the same, same as hyperscalers do, NVDA finances companies to buy NVDA chips..and these companies hige the debt in SPV's..>>> This is most-desperate thing 'ever'..but so 2026 !... The 10-year Treasury yield topped 5.33%, the highest since 2002. U.S national debt in 2002 was just $6 trillion. Paying 5.33% on that entire amount would cost $319.8 billion annually. On today’s $40.1 trillion debt, it would cost $2.14 trillion annually—more than Social Security..... real bigly issue! Markets : 'Welcome back,’ says Macron, as British PM opens door to EU return (repeat..won't happen, can't happen, but closer to EU, bilaterals type scenario, sure is a 'must'), US tells France and Germany to release diesel stocks or face US export ban, Fed’s Lorie Logan said rates need to rise to fully cool inflation, suggesting US yields may also help slow the economy, Investors dumped the BlackRock Mortgage Bond ETF last month at the fastest pace in history, surpassing the Global Financial Crisis and Covid, bank continue to weaken (GS is now 20% off highs-for example), JPN Inflation 2.7% (exp 2.3% - BoJ's target blown through) >>> French bonds a clear issue for EURO going into 2027, bond market sell-off beginning to really hurt, and repricing of risk buckets happening (heavily geared companies in big struggle), clear 'risks' going into Q4 2026.. (diesel, Middle east still, hyperscalers 'off-balance-sheet' deals, plenty of elections coming up, with Brazil first round this weekend, US med-terms soon ! andof crouse France next year FRANCE, French bonds hammered, Gilets jaunes likely to reappear in force, CDS to 15y highs, a clear nightmare scenario going into election next year.. (you think is bad ?.. this is a lot worse) US deploys more troops | The Pentagon will deploy 10,000 more troops and a third aircraft carrier to the Middle East, | Iran is preparing a broader and more forceful response if the United States resumes large-scale military attacks Europe is finding itself sandwiched from all sides when it comes to refined products — diesel in particular (some of the damage is due to the US-Iran war; some is due to Ukraine-Russia; some is due to China, and a lot is self-inflicted). Policy response: Head in the sand Japan’s prime minister says her policies will boost confidence in the yen after U.S. intervention falls short Germany’s Friedrich Merz said the opposition AfD is backed by Russia, without providing evidence. The chancellor accused Moscow of seeking to divide the country Amazon seeks to offload $8 billion of Nvidia chips to investors, FT reports | Reuters US won't 'sit there and take' overproduction from China: USTR Greer - Nikkei Asia France: Student protests over conditions at French high schools fuel political clashes French bond spreads widen as OAT market pressure intensifies EU nations to hold emergency meeting on soaring diesel prices amid US pressure - CNA Brazil election: U.S.-China rivalry and government debt loom large Barchart on X: "Investors dumped the BlackRock Mortgage Bond ETF last month at the fastest pace in history, surpassing the Global Financial Crisis and Covid 🤯 👀 https://t.co/jZwH2o54ro" / X Barchart on X: "Small Cap Stocks $IWM - It's Now or Never 🚨 🚨 https://t.co/wKUqKSdlOS" / X CNBC Daily Open: Bond yield whiplash grips global economy ‘Welcome back,’ says Macron, as British PM opens door to EU return | The Straits Times No 10 gathering evidence on public support for UK rejoining EU | Brexit | The Guardian Andy Burnham's 'big gamble' to put London back at heart of Europe after Brexit blunder | The Standard Bargain Britain lures foreign buyers as hostile takeovers surge Merz accuses Russia of supporting Germany's far-right AfD | RBC-Ukraine Japan: Yen valuation is a problem, intervention efforts disappoint Tokyo core inflation rate jumps in September, bolsters case for more BOJ hikes | Reuters South Korean President Lee warns of 'measures' against Ukraine Bond markets give France a whacking for fiscal irresponsibility Public workers in France strike over pay as student protests turn violent | Protests News | Al Jazeera Sir Alex Ferguson on brain haemorrhage and games that shaped his life - BBC Sport Make it count, League 2, management, board, coaches, player's agents, they all knew all or part of it... it's been going for over 10years, and a lot more over this summer again! ‘Wrongdoing’ at Manchester City should lead to ‘appropriate consequences’, says Downing Street | ITV News Granada Swiss gas sector views coming winter with concern - SWI swissinfo.ch

Relative value asset management for global assets. PVM's Investment Matrix combines balance-sheet analysis with peer comparison to identify entry and exit points. Asset Management Using our unique relative value based Investment Matrix we build portfolios with superior analytical metrics, compared to mainstream equity indices. We currently have two different Portfolio offerings; firstly our classical Long only Global Equity model (suitable for all investors), and a Multi-Asset Class model, designed to generate additional alpha (suitable for Professional and Institutional clients only). We deliver discretionary portfolio management through individually segregated accounts held in your name. This flexible mandate empowers you to complement our core PVM Investment Matrix Portfolio by actively incorporating listed securities of your own selection. PVM Global Equity Long Strategy Type Long Global Equity Suitable for All Investors Focus Absolute return/low risk Minimum Investment 150k CHF 2025 Performance 2026 Performance (30. Sept) +21% +6.3% Performance since Jan 2016 +109% More PVM Global Multi-Asset Strategy Type Multi-Asset Class Suitable for Qualified Investors Focus Absolute return Minimum Investment 250k CHF 2025 Performance 2026 Performance (30. Sept) + 26% +13.4% Performance since July 2015 +194% More Our Investment Philosophy Investment Matrix Fundamental Design In 2015 we developed our dynamic Investment Matrix consisting of many fundamental variables, designed to identify value opportunities within Global Equities. Our Investment Matrix is constructed to identify and establish sustainable value. There are many reasons why that value may also not be sustainable, such as changing consumer sentiment or spending more on share buybacks than current cashflow permits, the PVM Investment Matrix reacts to these changes. Algorithmic Processes Systematic Throughout We utilise proprietary algorithmic screening, with a high degree of automation, to analyse the global equity universe, monitor our Clients' Portfolios, and identify new opportunities. Furthermore, we use algorithmic execution tools when buying and selling our clients' portfolios, where appropriate. Qualitative Rationale Deeper Understanding Driven by deep analysis of balance sheets and employing further levels of qualitative analysis, results in a thorough understanding of the companies we invest in. We consider factors, such as; the mix of Goodwill and Intangibles to Net Equity, tracking deviations from recognized Accounting Standards and taking a broader view of the global economic landscape. Robust Returns, less Risk Better Together The combination of quantitative systematic analysis, overlaid with qualitative reviews and active management within clearly defined parameters, results in an investment model which is both robust and not easy to replicate. Stable returns are achieved by taking less investment risk, at higher valuations. Investment Process "We believe that an uncompromising investment process is a key component in delivering consistent returns."

Pure Value Metrics is a Global Asset Manager based in Switzerland. We also provide Multi-Family Office Services specializing in Trusts for International investors. Unique Relative Value investing supported by detailed balance sheet analysis Pure Value Metrics Switzerland For Swiss and International Clients, we provide comprehensive tailored asset management and innovative multi-family office services, including trusts. We facilitate multi-generational capital appreciation solutions. PVM is a Swiss based asset manager for Global Markets, with a unique Investment Matrix dynamic portfolio selection process, which involves targeting single value stocks and then taking a deep dive into their balance sheets for financial robustness and then assessing their relative value both against their competitors and themselves, to determine the investment entry and exit point. Latest Monthly Client Report PVM BITs BLOG Our daily round-up of Global Macro Market Trends and insightful news topics are offered with a free subscription Subscribe Blog Burnham's big EU summit coming up in Nov! #GBP ! / Global bond markets sell-off, credit markets warnings equity world Crude softer=Fixed Income relief 'rally', USD softer, GOLD higher, USDJPY back lower / UK's Burnham open door to EU AI leaders meet Trump, as Anthropic >> OPENAI >> NVDA / JPN-U.S coordinate on JPY / Germany-EU budget ultimatum Media Apperances Please reach out to discuss your requirements Contact us / Visit our office