The world after Fed easing

The start of monetary easing by the Fed is always a global event. Firstly, because of its impact on the global cycle. With more than 30% of world consumption (in dollars), US demand clearly steers the development of global demand.

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A look back at the summer of 2024 and the key points for the markets between now and the end of the year

A look back at the summer of 2024

Macroeconomic developments

Macro surprises deteriorated over the summer before stabilising in September. The slowdown in activity is most marked in the developed countries (United States, Europe) and China. Nevertheless, global growth remained at satisfactory levels, close to 3% (Purchasing Power Parity) in Q3 according to the August composite Purchasing Managers’ Index (PMI).

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The Unintended Consequences of Rigid Regulation

Over the last three years, we have faced growing regulation in the sustainable investment industry. More recently, this regulation has shifted from an emphasis on disclosure to more specific definitions and thresholds. We also see investors and sustainability certifications, such as the ISR Label, taking similar steps.

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