ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 10/06/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/06/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 06/10/2025

World economy: between risks and resilience

Last April, the world seemed to be headed for a recession and the markets for a crash. These concerns persisted for a few weeks. Then, the US and China reached a truce and other countries swallowed Trump’s new tariffs. Six months later, there has been neither a crash, nor a recession. Many assets have hit all-time highs and world trade has accelerated. When the results are so at odds with expectations, there is a temptation to explain why this time is different. This is generally an illusion, as has been well documented by historians of past crises. The resilience of the US, and hence the whol...

Economie mondiale, entre risques et résilience

En avril dernier, le monde a semblé prendre le chemin menant à la récession et les marchés celui menant au krach. Ces frayeurs ont duré quelques semaines. Puis, les Etats-Unis et la Chine ont signé une trêve, les autres pays ont accepté sans broncher les nouveaux tarifs du président Trump. Six mois plus tard, il n’y a eu ni krach, ni récession. Au contraire, pas mal de d’actifs financiers sont au plus haut de leur histoire, et le commerce mondial a vivement accéléré. Quand les résultats sont si contraires aux attentes, il y a la tentation d’expliquer rétroactivement par a+b pourquoi, cette foi...

BPCE : Issuance Focus

BPCE Assurances has tapped the market to issue for the first time a € 280m RT1 PNC32 and a € 40 Tier 2 2035 Green bond. These bonds will help refinance the call expected in December on the PNC25 issued in 2014 by Natixis Assurances and intragroup bonds. Both structures have been rated ´BBB’ by Fitch.