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Political tensions in France and also in Germany are inevitably weighing on PMIs.

Eurozone inflation has been slowing so the ECB can continue to reduce rates. 

Economic activity in the United States remains strong, while in Japan, inflation has resumed its upward trajectory.

The eurozone is still suffering from the conflict’s consequences and energy prices in particular are taking a toll as we enter winter.

The ECB is coming under increased pressure to ease its monetary policy and put a brake on the economic slowdown.

In Japan, the chances of the central bank tightening monetary policy are mixed.

As economic growth shows signs of overall resilience and interest rates begin to normalise, the High Yield market is now supported by a more favourable  environment.

Alexis Foret, Head of High Yield at Edmond de Rothschild Asset Management (France), believes that bonds in this segment – with their attractive yields and rising average coupons – have all the characteristics to cater to investors’ every need.

The Republicans, under the leadership of D. Trump, have taken control of the House of Representatives.

Germany is preparing for political upheaval with a vote of confidence scheduled for December.

Markets have continued to rotate into exclusively US assets in another illustration of American exceptionalism.

Edmond de Rothschild announces the appointment of Nathalie Cerutti as Director of Corporate Social Responsibility. Nathalie joined the group on November 1st 2024.

Edmond de Rothschild Corporate Finance has advised the shareholders of Redslim and Andera Acto on the sale of a majority stake to Astorg Mid-Cap, to support the Company’s growth and international expansion, collaborating closely with the Founders and the management team. 

US growth proved resilient in the third quarter, but US employment data remain contradictory.

The eurozone figures were a pleasant surprise with France expanding more than expected.

Japan's ruling party failed to get a majority in the weekend elections, reinforcing political uncertainty.

Edmond de Rothschild Asset Management has appointed Victoire Dubrujeaud as High Yield Portfolio Manager-analyst in the fixed income team. She starts on 28 October 2024.

The ECB’s governors are worried about soft eurozone growth and considering accelerating interest rate cuts to stimulate the European economy.

In the UK, investors are concerned about the Labour government’s intention to change budget rules to allow it to borrow more.

In China, the initial enthusiasm following the rate cuts earlier this week has already fizzled out.

Edmond de Rothschild AM announces the appointment of Melinda Käsdorf as Head of Marketing Private Markets, effective October 23, 2024.

In early September, the former Italian Prime Minister and former ECB President Mario Draghi released his competitiveness report requested by the new European Commission. After ten years of slower growth in Europe, Draghi calls for urgent action to close the economic gap with the US and China. He focuses on three main priorities: innovation, decarbonization and security.

Interview of Caroline Gauthier, Benjamin Rousseau and Ariane Hayate, Portfolio Managers of EdR SICAV European Smaller Companies.