Quantitative tightening? What tightening?

As expected, Fed and ECB hiked last week their respective target rate by +25bps to 4.50-4.75% and by +50bps to 2.50%, while France beats Italy in the 6 Nations tournament (rugby) yesterday but it wasn’t as smooth and easy for the “coqs bleus”. Despite the still hawkish message they delivered and their overall cautiousness about […]

Fumble ahead!

Yesterday night, the Philadelphia Eagles and the Kansas City Chiefs of Patrick Mahomes won their ticket to the Super Bowl LVII (NFL -American football league- final) by beating the San Francisco 49ers and the Cincinnati Bengals respectively. The Super Bowl will take place on February 12th, in Phoenix, with Rihanna taking care of the always […]

10 predictions for 2023 (part 2)

Here are the key takeaways: Last week, I shared with you my first 5 out of 10 predictions that could shape financial markets and portfolio returns this year. As we enter 2023 -and as a reminder-, our central macro scenario may be summed up as “less growth (but no hard landing), sticky inflation and higher […]