Analysis: Must Read

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.

Has the ECB really finished with rate cuts?

No surprises from the ECB, which kept its interest rates unchanged. While the markets now seem to believe that the ECB is done with rate cuts, this scenario cannot be ruled out, given the downside...

US employment figures revised downwards again

Clouds are gathering over the US labor market. After two disappointing employment reports, the BLS has announced a downward revision of the number of jobs created between April 2024 and March 2025:...

Confirmation and contradictions for Stephen Miran

The confirmation of Stephen Miran, appointed as Fed governor by Donald Trump, is well underway. On Wednesday, the Senate Banking Committee is expected to vote on whether to transfer his nomination to...

Miran, Cook, Powell's succession… an update on the Fed's "transfer market"

The dismissal of Lisa Cook, the confirmation of Stephan Miran, the long list of candidates to succeed Jerome Powell… the Fed's news now resembles that of a football transfer season. Five years of...

Why does the bond market like tariffs?

Donald Trump has this remarkable ability to make last spring seem like a distant memory. Indeed, it is true that the markets have experienced many ups and downs in just a few months. In bonds, tariffs...

Eurozone: inflation rises in August, status quo for the ECB

Inflation in the eurozone rose slightly in August, a move that reinforces expectations of monetary status quo at the ECB's next meeting next week. But the debate remains open on a future rate cut,...

5 questions about the legality of tariffs

On Friday, a federal appeals court invalidated most of the tariffs imposed by Donald Trump. A majority of the judges ruled that he had exceeded his authority under the International Emergency Economic...

No more gifts for small parcels

This Friday, the US will end the de minimis exemption. A six-month transition period will now begin, during which postal carriers will be able to pay a flat fee ranging from $80 to $200 per package,...

Time for after-sales service for Trump's tax law

Almost two months after Congress passed the tax bill, Donald Trump is struggling to convince Americans of its benefits. On the ground, Vice President Pence is stepping up his efforts as the midterm...