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Short duration corporate bonds are, by definition, bonds issued by private companies with a residual maturity under 3 years. As their maturity date is relatively close, they naturally offer excellent visibility on their potential performance. 

Contractual revenue arrangements, ESG criteria and location are all critical for lenders in the data centre space.

•    Donald Trump and the candidates to succeed Jerome Powell are arguing for an urgent rate cut by the Fed in response to the slowdown in activity and inflation.•    Powell's camp is urging the Fed to keep its current rates, as tariffs are expected to push inflation above 3% by the end of the year. •    In France, prime minister François Bayrou unveiled his proposed budget cuts. He hopes to reduce the government deficit to €43.5bn in 2026, but political consensus remains uncertain.

"Veritas" - Science and research, present and future allies of sustainable development "Fortis est Veritas. “Strong is truth” is Oxford's motto, which you will read on many a pediment as you stroll through this magical place of knowledge and learning.  “Veritas” is the motto of Harvard University.

•    Washington sent letters to several countries announcing between 20-50% in tariffs and additional levies on products and goods that are re-exported to third countries as a way of sidestepping the increases.•    France set an ambitious target of 4.6% for the government deficit in 2026. Meanwhile, the UK is struggling with a weak economy but that will allow the Bank of England to cut rates.•    In China, consumer prices rose slightly but production prices continued to suffer from deflation.

Europe is going through a period of profound change - industrial, energy and geopolitical - which is redefining the conditions for its long-term economic development. Against this backdrop, the question of savings allocation takes on a strategic dimension. We offer you an in-depth analysis of this central issue:“Re-engaging European savings: a strategic imperative for sustainable growth”. This document explores the concrete levers for redirecting private savings towards the real economy, with a view to sovereignty, innovation and sustainable transition. Translated with DeepL.com (free version)

We are proud to be ranked among the Top 200 Asset Managers in Europe by Funds Europe

•    A trade agreement with Vietnam has been reached, while negotiations with the EU, Japan, India, and Korea are proceeding with difficulty.•    So far the tariff war appears to be leaving little trace on the US economy, as illustrated by mixed labor market indicators. •    Both houses of Congress passed the “One Big Beautiful Bill” in an even more expansive version than its initial draft.

•    H1 2025: major political issues, but no significant impact on market performance, apart from occasional volatility.•    Points to watch for investors in the second half of the year: geopolitical risk, trade tensions and the US public deficit. •    Allocation point: slight underweighting of equities - particularly US equities - and of the dollar. On the bond side, avoid long-dated bonds, as the risk of recession remains moderate.•    Positive views on Europe: the implementation of the Draghi plan could enable the continent to catch up, by boosting competitiveness and supporting industry and technology.

Asset allocation : Undaunted markets in a changing worldBenjamin Melman, Global CIO AM The credit market, a new safe haven for investors! Alain Krief, Head of Fixed Income European equities, a powerful new narrativeCaroline Gauthier, Co-Head of Equities  International equities: The world's largest casino Jacques-Aurélien Marcireau, Co-Head of Equities Management philosophy: Mission sovereignty : resilience in actionAymeric Gastaldi, International Equities Manager & Anthony Penel, European Equities Manager

The Pan-European office market is transforming, driven by evolving work models, a flight to quality and sustainable ambitions. Stabilizing values present opportunities for investors to achieve above average returns on both the short- and longer-term strategies, especially for mid-size offices on high quality locations in the city centres.

By Sébastien Cavernes, CIO Edmond de Rothschild Gestion (Monaco).