Analysis: Must Read

Goldman Sachs anticipates a recovery in mergers and acquisitions, driven by sector concentration

Goldman Sachs is banking on a resurgence in mergers and acquisitions, driven by sector consolidation and the dynamism of private equity. Lower interest rates should accelerate the trend. But John...

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...

Is OpenAI close to an IPO?

OpenAI is currently undergoing a major restructuring, with the aim of creating an entity that could be listed on the stock market. After several months of tense discussions with its main partner and...

A wave of crypto ETFs is about to flood Wall Street

In Washington, the SEC has lifted a barrier: the approval of crypto ETFs will no longer be subject to endless procedures. Now, Solana, XRP, Dogecoin, and others are seeing a fast track to traditional...

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...

ImpactFull Weekly - Japanese Corporate Renaissance

Welcome to this week's edition of ImpactFull Weekly, where we analyse strong and weak signals across asset classes, connecting the dots of what we are seeing unfold in the global markets.

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...

Historic gold rally: what is driving the price surge?

Gold prices reached a new high on Monday at $3,728 per ounce, extending a spectacular surge that has seen the precious metal double in value since the end of 2022. Buoyed by a climate of geopolitical...

Corporate earnings schedule for week of September 22-26, 2025: H&M, Micron, and Accenture in the spotlight

Welcome to the schedule of publications for listed companies for the week of September 22 to 26, 2025. Amongst the main announcements this week are Micron Technology, AutoZone, Cintas Corporation,...

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...

Meta and EssilorLuxottica: with more ambitious connected glasses, the market awaits what's next

At Meta Connect, the duo unveiled a new generation of connected glasses. Ray-Ban Display with an integrated screen, Oakley Meta Vanguard for athletes, and Ray-Ban Meta Gen 2 with greater autonomy: an...

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,...

ETF: VanEck has no regrets about launching a radioactive ETF

Thematic ETFs are rarely good deals. Too concentrated, too late, too expensive... they attract a lot of criticism, as we have already explained here. However, we should not generalize too much: some...