Perspectivas
y actualidad.

Edmond de Rothschild Asset Management has won two awards at the 2026 Grand Prix des Sicav, organised by Mieux Vivre votre Argent magazine.

Edmond de Rothschild Asset Management, the conviction driven investment house, has entered into a strategic distribution agreement with DAVINCI Trusted Partner, an independent distributor focused on the wealth segment in Latin America and the US offshore space.

Edmond de Rothschild, acting as mandated lead arranger, successfully signed the facility agreement with a consortium of international financial institutions, underscoring Milence’s successful entry into the broader capital markets.

Edmond de Rothschild announces the appointment of Norbert Becker as Chairman of the Board of Directors of Edmond de Rothschild (Europe). 

Logistics has been one of the best performing sectors within European real estate in recent years, as the rise of e-commerce drives demand for distribution hubs and urban warehouse facilities.

In a world economy defined by a rapidly progressing energy transition, decarbonisation, there are no shortage of opportunities to provide debt financing for infrastructure projects.

•    US equity markets are once again banking on a scenario of sufficient growth and contained inflation, favouring technology and semiconductors, while defensive sectors are being shunned.
•    The record fall in crude oil stocks and the possibility of a prolonged blockade of the Strait of Hormuz show that the US is using up its safety margin without addressing the structural risk of a lasting energy shock.
•    In the eurozone, core inflation is falling but consumer confidence has dropped to its lowest level since the Covid crisis

Edmond de Rothschild Corporate Finance conseille Altur Investissement et les dirigeants-actionnaires du groupe POMPES FUNÈBRES DE FRANCE dans le cadre de sa cession au groupe OGF

Following our previous editorials, “Cheaper, baby, cheaper” and “Jobs, baby, jobs,” the latest developments in the war in Iran have brought the urgent need for energy security in Europe and elsewhere to the forefront. In China, the initial announcements last March regarding the 15th Five-Year Plan (2026–2030) continue to emphasize renewable energy, electrification, and energy storage, but also look ahead to e-fuels and hydrogen. These Chinese programs have industrial, environmental, and security/sovereignty ambitions.

•    The rebound in risk assets following tensions in the Middle East is more a case of technical repositioning, rather than an improvement in fundamentals. It illustrates a market reflex that has become almost Pavlovian: automatically rush to buy on weakness. 
•    Behind the façade of market rebounds, the energy shock is still acute and now spreading to the most dependent economies, particularly in Europe and Asia. This disconnect between buoyant financial markets and the real economy is the main weakness today.
•    Maintaining exposure to risk assets should not be a case of excessive optimism but simply recognition that the cycle is still in place. However, we need to be more vigilant and more selective, notably with more exposure to the US and China.

The market movement observed in recent weeks fits into a rather classic mechanism, similar to a pendulum swinging from excess fear to relief. However, this time, the breadth of the movement reflects more than a simple technical adjustment. After a phase of brutal escalation in the Middle East, the intensity and speed of the rebound posted by risk assets was particularly surprising. Indeed, this upward move ranks within the 100th percentile of 10-day rallies recorded by the S&P since 1950, lifted by growth stocks – and notably tech-related sectors (hardware, semi-conductors and memories). As if investors, already hardened by the series of shocks in recent years – pandemic, Ukraine, trade tensions – had already factored in the idea that whatever the geopolitical crisis, it is followed by rapid normalisation.

Yet behind this rebound, the change in fundamentals has been more subtle, if not concerning. Far from having abated, the energy crisis has continued to spread across the most exposed economies, notably in Asia and Europe. 

•    In the US, this week’s data tended to reinforce the idea of knock-on inflation, both from Donald Trump’s tariffs and from services, even though the US Treasury said that tariffs deemed illegal in court would be replaced in July.
•    France’s GDP growth in the first quarter came in at a resilient 0.3% while Germany revised down its growth forecasts for 2026 to 0.5% from 1% and for 2027 to 0.9% vs. 1.7%.
•    China’s first quarter GDP rose 5%, or more than the 4.8% expected, thanks to industrial production growing 5.7%.