Our 2025 Investment Themes Mid-Year Update

In this podcast, Edouard Desbonnets, Senior Investment Strategist, and Guy Ertz, Deputy Global Chief Investment Officer, discuss recent fluctuations in the US dollar.Has the dollar lost its status as a safe-haven currency?What factors influence exchange rate forecasts?What is the long-term equilibrium value of the EUR/USD exchange rate?Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Edouard Desbonnets, Senior Investment Strategist, et Guy Ertz, Deputy Global Chief Investment Officer, analysent les récentes fluctuations du dollar.Le dollar a-t-il perdu son statut de valeur refuge ?Quels sont les facteurs qui influencent les prévisions d'évolution des taux de change ?Quelle est la valeur d'équilibre à long terme du taux de change EUR/USD ?Hosted by Ausha. See ausha.co/privacy-policy for more information.

Our investment strategists have highlighted four key themes to help navigate today’s uncertainty. Europe Is BackDiversify Amidst Unprecedented UncertaintyThe New Infrastructure ImperativeThe New Focus on living longer in good healthHosted by Ausha. See ausha.co/privacy-policy for more information.

Notre équipe de stratégistes nous dévoile quatre thèmes d'investissement afin de naviguer dans l'incertitude actuelle : L'Europe est de retourLa diversification, votre meilleure alliée face à l'incertitudeInfrastructures : un défi essentiel pour l'avenirBien vieillir, un enjeu de société Hosted by Ausha. See ausha.co/privacy-policy for more information.

Edmund Shing, Global Chief Investment Officer of BNP Paribas Wealth Management and Philippe Gijsels, Chief Investment Advisor, BNP Paribas Fortis, discuss about Uranium and its current situation.The fundamental backdrop for nuclear energyGrowing demand but limited supply in Western economiesAI & data centres: catalysts for nuclear energyA commodity at the centre of key geopolitical issuesInvestment opportunities in uraniumHosted by Ausha. See ausha.co/privacy-policy for more information.

Edmund Shing, Global Chief Investment Officer of BNP Paribas Wealth Management unveils his convictions for June 2025.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Edmund Shing, Global Chief Investment Officer, dévoile sa stratégie d'investissement pour juin 2025.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer, discusses about the US dollar's weakening situation and its beneficiaries.Four reasons for US dollar weakeningCommodities and emerging markets stocks and bonds tend to benefitAustralia and Canada: Commodity-heavy developed markets also favouredHosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer, discusses the potential disconnect between the stock market rebound and the risk of US economic growth slowing down. Stock market rebound and economic reality: Despite a strong 20% rebound in US equities following tariff-related declines, survey data (consumer and business confidence) suggests a sharp slowdown in US economic growth may be ahead—highlighting a disconnect between markets and fundamentals.Mixed economic signals: While sentiment indicators are weak, hard data like retail sales and the Atlanta Fed’s GDPNow indicator still point to solid growth (~2.5% in Q2). However, the delayed impact of higher tariffs could weigh on consumption from June onward.Energy prices as a buffer: Falling energy costs (e.g., US gasoline down 16% YoY) are helping to contain inflation and support growth in both the US and Europe, offsetting some inflationary pressure from tariffs.Infrastructure as a standout asset class: Listed infrastructure funds and ETFs are outperforming equities year-to-date, especially in Europe (+21% in EUR). Sub-sectors like electricity networks, clean water, and clean energy are benefiting from policy support and renewed investor interest.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Edmund Shing, Global Chief Investment Officer et Guy Ertz, Deputy Global Chief Investment Officer, discutent de la situation actuelle de l'économie suisse et de ses marchés financiers. Focus sur la croissance économique et les perspectives concernant la devise suisseQuelles sont les actions mises en place par la Banque nationale suisse pour se protéger du risque de déflation et gérer la force de la devise ?Perspectives de marchés concernant les taux et les rendements pour les prochains moisLes opportunités sur les marchés obligataires et actions suisses.Hosted by Ausha. See ausha.co/privacy-policy for more information.