Asset management.

•    D. Trump's "Liberation Day" announcements have heightened uncertainty for the markets and the Fed, with a series of tariffs on all imports except Canada (which is already hit by 25% tariffs) and Mexico.
•    Initial estimates forecast a contraction in the US GDP by -1.5% and an inflation increase of +1.5%.
•    In Europe, the euro's appreciation against the dollar and the expectation of competitive prices for Chinese products lacking outlets on the US market could mitigate the impact of these measures

After 30 years of «happy» globalization, the world is a changed place post-pandemic, hit by geopolitical risk and plagued by daily cyber-attacks, with citizens seeking protection. The stock market outlook is particularly attractive for companies exposed to the security theme, which offer investors and the general public the resilience they so desperately need. 

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.