Coffee Break

Coffee Break - Tariffs, Data, and Decisions

In the US, key data releases will include factory orders, ISM services, trade balance, as well as Q2 productivity and labour costs — all unfolding under the shadow of new tariffs taking effect on August 7.
Servaas Michielssens, ESG, SRI

Pharma tariffs: a complex puzzle

On Sunday, July 27, 2025, the EU and the US successfully concluded a trade agreement, paving the way for strengthened economic relations between the two regions. While initial reports caused some confusion, it now appears that most pharmaceutical products, excluding certain generics, will be subject to a 15% tariff.
Coffee Break

Coffee Break - Powell’s Moment of Truth

The United States and the European Union have reached a trade deal that introduces a 15% blanket tariff on all EU goods imported into the US, along with additional EU commitments to purchase US energy and defense products. The agreement takes effect on Friday.
Coffee Break

Coffee Break - The pulse of the global economy

Flash PMIs for the US, euro zone, UK, and Japan will reveal July’s global economic momentum in manufacturing and services. These data points will influence central bank expectations and investor risk appetite across regions.
Coffee Break

Coffee Break - The summer of catalysts starts now

Inflation will be a central focus for global investors, with key reports expected from the US, UK, Canada, and Japan. US inflation data is expected to show an acceleration in June.
Asset Allocation, Macro, Emile Gagna, Florence Pisani

Slowdown on the Horizon…

Despite rising geopolitical tensions, the global economy showed surprising resilience in early 2025, and inflation continued to normalise.

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