No volatility despite geopolitical risk

Geopolitical risk appears to be at the forefront of investors' minds, although it is not currently having a major impact on risky assets. The US administration has two weeks to decide whether to become directly involved in the conflict between Iran and Israel. Volatility remains contained, as evidenced by the relatively stable VIX, and oil prices continue to rise (+20% since early June, exceeding $75/b), though not yet soaring. Next week could bring more information, with the release of the June PMI figures. Geopolitically, all eyes will be on the NATO summit in The Hague. We would like to inform you that the Market Weekly news will cease publication on June 27. We will, of course, keep you updated on economic and financial news through other channels. Finally, note that we will have our Natixis CIB Research usual mid-year Outlook on Tuesday, June 24, 2025 . Two TEAMS live sessions will be available: a  French session (from 9:00 am to 10:15 am CEST) and  an  English session from 2:00 to 3:15 pm (CEST). Please save the date and join us The Natixis CIB Research Team