Asset management.

• Despite contradictory announcements from the Trump administration, markets reacted positively to the temporary tariff exemptions on Chinese technology imports and progress in trade talks with Japan.
• The Fed is taking a wait-and-see approach to avoid inflation expectations becoming unhinged, as the economic outlook worsens, despite solid US retail sales due to pre-tariff advance purchases. 
• The ECB is benefiting from the euro's appreciation, which gives it room for manoeuvre to ease monetary policy without worrying about the Fed's immobility.

At the LSEG Lipper Fund Awards 2025 , the Edmond de Rothschild Fund Emerging Credit, a bond fund dedicated to emerging corporate debt, was recognized for its consistent and regular performance over 10 years  in the "Bond Emerging Markets Global Corporates" category, both on European scale and within four countries: Switzerland, Germany, Austria, and France. In addition, the two fund managers of Edmond de Rothschild Fund Emerging Credit, Stéphane Mayor and Lisa Turk , received an AAA rating in the "Global Corporate Emerging Markets Bonds" category by Citywire .

EPISO 6, a fund managed by Tristan Capital Partners and joint venture partner Edmond de Rothschild REIM, have acquired a c.136,000 sqm logistics development in Delta 3 - Dourges (Lille area).

•    Discussions between the U.S. and Russia on implementing the partial ceasefire in the Black Sea are hindered by Moscow's demand for lifted sanctions, maintaining inflation uncertainty related to grain exports.
•    The U.S. plans to impose new tariffs of 25% on countries acquiring Venezuelan oil and auto imports, coinciding with a stricter immigration policy that may impact supply chains and economic growth.
•    In Europe, positive effects from Germany’s stimulus plan are reflected in a slight rise in the IFO business climate index, although mixed manufacturing PMIs indicate ongoing sectoral challenges alongside disappointing services indices.