Jean-Jacques BARBERIS, Matteo GERMANO, Annalisa USARDI
the articles & research center news
The end of the political crisis and next steps for the new government:The new pro- European government looks to be willing to move in a different direction vs the previous one, with an agenda focused on green and socially inclusive policies. It is difficult to project how long this new coalition will last, but it will certainly have to address the next budget law. We expect to see some expansionary measures (lower labour costs plus investment spending), but without putting public finances at risk. However, the available room for manoeuvre is narrow.
Kasper ELMGREEN, Matteo GERMANO, Annalisa USARDI, Isabelle VIC-PHILIPPE
Following a heated summer, geopolitical events and the economic environment will likely continue to impact financial markets in the coming months. Pascal Blanqué (Group CIO) and Monica Defend (Head of Strategy, Deputy Head of Research) will provide their analysis and perspective.
Pascal BLANQUE, Monica DEFEND, Jean-Jacques BARBERIS
Didier BOROWSKI, Philippe ITHURBIDE
Trade tensions re-escalated during the summer. Starting on 1 September, the US Administration introduced new tariffs and China retaliated simultaneously. More tariffs are likely from the US side, including an increase in tariffs already in place from 25% to 30% and new tariffs on the last tranche of imported goods from China.
Deputy Head of Macroeconomic Research
Group Chief Investment Officer
Laura FIOROT, Claudia BERTINO
Marie BRIERE, Sébastien POUGET, Loredana URECHE-RANGAU