Analysis: Must Read

At midnight in Washington and 5:00 a.m. in London, the shutdown began in the United States

At 5:00 a.m. London time, the US government began shutting down its operations after Congress failed to progress with the federal budget bill. The famous shutdown has therefore come into effect.

Less immigration, less inflation?

Since returning to the White House in January, Donald Trump has made the fight against immigration one of his priorities. And the goal is not just to stop the arrival of migrants, but also to deport...

Inflation on vacation?

Will tariffs be reflected in inflation figures? This is the question we have been asking ourselves for months, and August's figures have not provided us with any more answers. On the other hand, the...

The big comeback of tariffs

Did you miss them? Well, they're back. After several weeks of relative calm on the trade front, Donald Trump has announced a new series of tariffs. Investors are watching the impact of these measures...

What if the Fed stopped cutting rates?

This has been the narrative in recent weeks: markets are rising because the Fed is going to cut rates. While lowering the cost of capital is in principle positive for risky assets, history shows that...

European real estate: the credit gap widens

The European real estate market continues to fragment in terms of credit, according to an analysis by Scope Ratings. While terms of financing are improving for the highest-rated companies, weaker...

No risk-free path for the Fed

Less than a week after the Fed's rate cut, the market is already looking ahead to what's coming next. While expectations are high, Fed members are divided. Between the downside risks to employment and...

The Fed faces the risk of a second wave of inflation

Last week, the Fed resumed rate cuts after several months on pause. Two further 25 basis point cuts are probably due by the end of the year. The Fed is in risk management mode: faced with risks in the...

Nicolas Fouquet, the first king of junk bonds

Imprisoned by the Sun king Louis XIV in the citadel of Pignerol, where he died in 1680, Nicolas Fouquet was, three centuries before the age of Wall Street golden boys, the first true king of junk...

Change in migration policy: in response to US policy, several countries are trying to attract foreign talent

The tightening of immigration rules in the US, including President Donald Trump's introduction of a $100,000 fee on new H-1B visas, has triggered a swift response from several governments around the...

The biggest risk in a bubble? Getting out too early

With record highs every day and extreme valuations, Wall Street's race forward inevitably raises the question of a bubble. But what history teaches us is that one of the main risks for investors is...

The Bank of Japan is selling its ETFs

On Friday, the Bank of Japan kept its interest rates unchanged. However, two dissenting votes indicate that future increases are still possible. The BoJ also announced the gradual sale of its ETFs, a...

Are stocks too expensive?

This is one of the key charts from Bank of America's latest survey of fund managers. A record number of them believe that stocks are overvalued. This is not surprising, as US stocks, which account for...

How did the stockmarket work before algorithms?

In the age of micro-trading, Bloomberg terminals, ETFs and other derivatives, it seems unthinkable today to do without computers. However, humanity did not wait for the arrival of the smart card to...

Fed: the doves have gone to roost

Unsurprisingly, the Fed lowered its rates by 25 basis points yesterday. This decision was more consensual than expected, as only Stephen Miran, the new governor still employed by the White House,...

The Fed faces uncertainty in the US economy

The markets are eagerly awaiting the Fed's decision to cut rates by 25 basis points on Wednesday. However, several FOMC members could vote against the majority decision, with some in favor of a larger...

Why has France's credit rating downgrade not provoked any reaction?

On Friday evening, Fitch downgraded France's rating from AA- to A+. However, this decision has had little impact on French assets. The CAC 40 opened higher, while the French 10-year bond is at the...

Weekly recap: Oracle joins the big league

🎯 The 6 news stories of the week Conservative American influencer shot dead Conservative influencer Charlie Kirk, a close associate of Donald Trump, was shot dead on Wednesday. He was the...

Gold has never been so expensive

+39% since the beginning of the year. Gold is one of the best-performing assets in 2025. While there are plenty of reasons to buy gold, the yellow metal has never been so expensive.