Monthly Coffee Break

Monthly Coffee Break, Fixed Income

De-correlation on both sides of the Atlantic

On rates markets, August and the first week of September were marked by a noticeable de-correlation on both sides of the Atlantic. While Euro rates moved sideways, Treasury yields declined significantly, especially at the short end of the curve. This shift and steepening of the curve reflects a weakening labour market, accelerating Fed rate cut expectations.
Monthly Coffee Break, Alternative Investments

Dovish Fed takes the upper hand

Activity paused leading up to the Jackson Hole Economic Symposium, where a potential pivot in Federal Reserve policy was revealed by Chairman Jerome Powell, hinting at a possible easing cycle.
Monthly Coffee Break, Asset Allocation

The Start of a New Fed Rate Cutting Cycle

The global economy approaches the final stretch of 2025 at an inflection point. Financial markets, unsettled for much of the year by tariff escalations and a slowing US economy, now find comfort in an accommodative monetary policy path, less uncertainty in trade negotiations and a potential major political shift in the making at the Federal Reserve.
Monthly Coffee Break, Equities

The US market still at the forefront

European equities were slightly higher in August but continue to underperform US equities. European macro data were mixed, with PMIs improving in manufacturing but weakening in services.

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