Doubts Arise About Growth in Uncle Sam’s Land. Equities Bear the Brunt A 30-basis-point drop in the U.S. 10-year yield over a few days is not a common occurrence. We must immediately acknowledge that we were not positioned to take advantage of such a development, given our reaffirmed decision at the end of January…

Has Donald Trump Broken the Spell? At first glance, everything seemed to be going well in the best of all possible worlds for financial markets—until the U.S. President "surprised" investors by introducing tariffs on Canadian, Mexican, and Chinese goods. This perception must be put into perspective! First, because the first weeks of 2025 were anything…

A Warning Shot from the Federal Reserve! December was marked by a return of volatility in international financial markets, which came as no surprise to us. In this context, the performance of major assets (stocks, bonds) declined, although this did not call into question their positive behavior in 2024, particularly stocks. Indeed, the final weeks…

A Warning Shot from the Federal Reserve! December was marked by a return of volatility in international financial markets, which came as no surprise to us. In this context, the performance of major assets (stocks, bonds) declined, although this did not call into question their positive behavior in 2024, particularly stocks. Indeed, the final weeks…

Heading into 2025, with an euphoric mood in the financial markets! For investors, the transition to the new year should be met with cheer, especially for those who favored stocks in their investments (with a more than 20% increase in the MSCI World Index). However, this does not mean that more conservative profiles haven't benefited…