The first scare in 2020

Edito After a year marked by very decent performances in the markets, 2020 began with a big wake-up call. Geopolitical risk remains very present and as difficult to predict as ever. While the geographical areas and factors that could cause tensions are fairly well identified, it is still completely impossible to anticipate when the risks will materialise. We will therefore have to continue to live in an uncertain environment while seeking to take the best possible precautions against these geopolitical risks, which will continue to exist without any vaccine to protect against them.