23
Oct
The repeated warnings and calls for a slowdown issued by top executives at AI labs, though motivated by concerns over security, energy supply, and governance, serve as a reminder that the development of state-of-the-art models is not linear and faces insurmountable regulatory, physical, and infrastructure constraints. The investment cycle [...] Navigating the AI bubble to [...]
09
Oct
GDP is expected to slow in Q3 and Q4. Leading indicators are optimistic. Downward revisions to job creation figures. Hikes in key interest rates. Inflation remains on an upward trend. High bond yields. Growing interest in the U.S. dollar. Key points Resilience in Q2 and controlled inflation absorption Expected deceleration in GDP in Q3 Leading [...]
28
Sep
The construction materials and infrastructure sector is undergoing a period of adjustment marked by a sharp decline in stock prices (MSCI World Construction & Materials Index: -30%). Persistently high real interest rates and unfavorable weather conditions in the first half of the year temporarily weighed on delivery volumes and delayed the start of certain construction [...]
27
Sep
GDP rebound? Stagnation likely in Q4. Leading indicators have stabilized. Household concerns persist. Price indices are rising. The ECB is taking a tougher stance. Mixed outlook for the euro. Stocks likely to consolidate in Q4. Key points Net rebound in eurozone GDP before summer (+0.4%) Risks of prolonged stagnation as Q4 approaches Leading indicators: fragile [...]
24
Sep
The aluminum market is experiencing an unprecedented tightening, driven by a convergence of independent shocks rather than by a single factor. After prices soared in the first half of the year, driven by the Gulf war premium and peaking at nearly $3,750–$3,854 per metric ton in early June, the sector experienced [...] A technical correction in [...]
24
Sep
Resilient GDP in Q2 (+0.4%). Moderate recovery in services. Employment has stabilized. Confidence is improving. Inflation is picking up again. The BoE is taking a hawkish stance. Bond yields are tight. The pound is strong. The housing market has calmed down. Key points The ONS confirms growth of +0.4% in Q2 2026 Economy avoids contraction [...]
07
Sep
European defense budgets are experiencing unprecedented growth (driven by NATO objectives and EU initiatives, such as the Readiness 2030 plan). Following a period of rapid growth in valuation multiples, the sector has entered a phase of execution and delivery of financial results. The outlook for [...] A decoupled sector offering high visibility over the next [...]
31
Aug
Growth has stabilized at a moderate pace. Consumers remain hesitant. Persistent but limited inflationary risks. BoJ stays on course. Steepening of the yield curve. Likely appreciation of the yen. Consolidation of the Nikkei. Key points GDP momentum slows in Q2 Q3: Balancing domestic recovery and external risks Shift in leading indicators Household confidence stabilizing Inflation [...]
27
Aug
After an exceptional run fueled by speculation about energy demand from the digital sector, the industry experienced several waves of short-term pullbacks in 2026. Uncertainties surrounding monetary policy and the maintenance of high interest rates weighed on [...] An opportunity driven by AI and electrification Discover our Investment Flash down below: Read more To make [...]
21
Aug
Long-term Treasury bond yields are at their highest levels since the 2007 crisis: the 10-year yield is hovering around 4.75%, while the 30-year yield has surpassed 5.30%. The fundamental cause of this rise lies in investors’ growing concern about the U.S. fiscal trajectory. With public debt nearing [...] A recession and an asset reallocation will [...]
