Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information Tikehau Capital Market Strategies Head Raphael Thuin gave his view on what kind of rebound European markets are in line for Guy Johnson and Anna Edwards on 'Bloomberg Markets Today' 2018."> World Subscribers only Rapper Diddy's trial for sex trafficking begins World Subscribers only Far right clinches overwhelming victory in first round of Romanian presidential election World Subscribers only Kenneth Roth: 'Human rights can be defended without the US' World Subscribers only Founder of Sant'Egidio community fears next pope could undo Francis's legacy Opinion Subscribers only 'Russian gas and Europe is an old story that ended badly Economy Subscribers only Europe's steel industry flattened by crisis World Subscribers only How European countries plan to fund defense efforts France French rail strikes: Traffic will be 'strongly disrupted' in Paris region commuter trains on Monday France Subscribers only Macron announces citizens' convention on school schedules France Subscribers only 21 charged over French prison attacks as investigation narrows in on drug traffickers France Subscribers only French mosque stabber was driven by 'morbid fascination,' prosecutor says Videos World expos: From Paris 1855 to Osaka 2025 Videos How the Trump administration is attacking scientific research in the US Videos Tesla cars set on fire in Las Vegas as calls to boycott Musk's company grow worldwide Videos Can France's nuclear deterrent protect Europe Opinion Subscribers only 'The trade war creates new opportunities for Europeans and France' Opinion Subscribers only 'It is pointless to imagine a significant wave of American academics leaving' Opinion Subscribers only 'Faced with Trump is global finance a stabilizing force or an enormous bubble on the verge of bursting?' Editorial The danger of a double standard for Islam Magazine Subscribers only Tracking down the pianos taken from French Jews during the Nazi Occupation Magazine Subscribers only Eve Rodsky the American helping couples balance the mental load Magazine Subscribers only Desecration or more glory Joan Didion's private diaries are revealed Magazine Subscribers only For Jewish cartoonist Joann Sfar 2025."> Pixels Subscribers only Golden Owl solution is revealed but leaves players of 31-year hunt disappointed Pixels Subscribers only Secrets of decades-long Golden Owl treasure hunt to be revealed Lifestyle Inside Chanel's French leather workshops Culture Subscribers only The marvelous bronzes of Angkor on display at the Musée Guimet in Paris 18 min read Lire en français in an apartment on Paris's prestigious Boulevard Haussmann businessman Hubert Zieseniss was found dead alongside his wife Aude de Thuin The discovery cast a harsh light on the downfall of a flamboyant entrepreneur A bourgeois Parisian dinner party was being held near the Luxembourg Gardens The evening's hosts were entertaining three other couples with the tanned complexions that mark the leisure time of a retired business class that remains proudly active entrepreneur." This calling card is important to her A high priestess of corporate trade shows since the 1980s and the founder which brings together the worlds of French and international business de Thuin is a brand name for a certain generation and milieu who claim power as a model of feminism and whose audacity and good-natured elegance enchant the readers of Madame Figaro – the magazine of the conservative daily newspaper Le Figaro the fiery event creator who spoke on their behalf "under the high patronage of Emmanuel Macron," she had organized the first regional edition of her latest venture a trade show designed to raise awareness of the under-representation of women in the artificial intelligence sector You have 93.79% of this article left to read Lecture du Monde en cours sur un autre appareil Vous pouvez lire Le Monde sur un seul appareil à la fois Ce message s’affichera sur l’autre appareil Parce qu’une autre personne (ou vous) est en train de lire Le Monde avec ce compte sur un autre appareil Vous ne pouvez lire Le Monde que sur un seul appareil à la fois (ordinateur En cliquant sur « Continuer à lire ici » et en vous assurant que vous êtes la seule personne à consulter Le Monde avec ce compte Que se passera-t-il si vous continuez à lire ici Ce dernier restera connecté avec ce compte Vous pouvez vous connecter avec votre compte sur autant d’appareils que vous le souhaitez mais en les utilisant à des moments différents Nous vous conseillons de modifier votre mot de passe Votre abonnement n’autorise pas la lecture de cet article merci de contacter notre service commercial Italian beats Corbin Strong as Sam Watson wins the final stage Race leader Matteo Trentin (Tudor Pro Cycling)(Image credit: Getty Images)Race leader Matteo Trentin (Tudor Pro Cycling)(Image credit: Getty Images)Sam Watson wins the final stage(Image credit: Getty Images)The day's breakaway(Image credit: Getty Images)Samuel Watson (Groupama-FDJ) won the final day of racing with a solo attack on the uphill finish at the Tour de Wallonie while Matteo Trentin (Tudor Pro Cycling) held on to the orange leader’s jersey in a tight contest against GC runner-up Corbin Strong (Israel-Premier Tech) Strong led the chasers across the line four seconds behind Watson to earn second place on stage 5 with Trentin taking the GC based on placings on finishing positions earlier in the week Trentin took the overall lead from Strong with a sprint win on stage 4 thanks to time bonuses and Strong's relegation from his fourth-place finish for an irregular sprint because he was really strong during this race," Trentin said at the finish when he was confirmed as GC winner it was really good that the breakaway go to the finish They kept coming back to control the situation." Alex Kirsch (Lidl-Trek) finished third in the GC while his teammate Cole Kessler earned the purple sprint jersey Jimmy Janssens of Alpecin-Deceuninck secured the mountain classification Frederik Wandahl (Red Bull-Bora-Hansgrohe) was the best young rider Four riders from the original 16-rider breakaway that formed on the early part of the 192.1km stage 5 were caught by a charging peloton on the lower slopes of the Mur de Thuin The fourth and final ascent saw Watson take his chance with an attack on the closing 500 metres and he rode solo to the line The first part of the stage was marked with a trio of climbs Kluisberg - Mont de l'Enclus (900 metres at 6.9%) Oude Kwaremont (2.1km at 4.3%) and Côte du Beau Site (1.4km at 6.5%) A group of 16 riders led the procession after the opening 12 kilometres - which included three riders with Grand Tour wins Lilian Calmejane (Intermarché-Wanty) Dries De Bondt (Decathlon AG2R La Mondiale) 16 riders rode together at the front of the race and Tudor Pro Cycling led the peloton to protect race leader Trentin the pace held steady as the lumpy terrain crossed Tienne du Dragon a short 400-metre pitch of 5.3% with cobbles Cole Kessler (Lidl-Trek) was the first rider to try a solo attack from the pack with 48km to ride and then Gonzalo Serrano (Movistar) took a flyer He was then joined by Filip Maciejuk (Red Bull-Bora-Hansgrohe) and De Bondt with the trio never getting more than five seconds Johan Meens (Bingoal-WB) took a shot at upping the pace and he grabbed a small gap surging up the nasty 500-metre Mur de Thuin with pitches up to 13% on its cobbled surface His acceleration on the first of three finishing circuits with the fourth climb marking the finish line caused the pack of 15 riders behind to spread across the climb a foursome of Matis Louvel (Arkéa-B&B Hotels) De Bont and Calmejane had a small gap on the former breakaway bunch that kept dropping riders and was reduced to nine riders the four leaders had 57 seconds over three chasers and the peloton slowly closed the gap to 1:20 The peloton went to work catching previous riders from the large breakaway as the quartet stayed away Maciejuk accelerated and only De Bondt could stay on his back wheel the two driving the pace with 27 seconds back to the peloton Their escape ended with 2km to go and the 22-year-old Watson took over as the lone leader to secure his first pro stage victory Results powered by FirstCycling a sports marketing and public relations agency which managed projects for Tour de Georgia a Georgia non-profit to promote safe cycling She is proud to have worked in professional baseball for six years - from selling advertising to pulling the tarp for several minor league teams She has climbed l'Alpe d'Huez three times (not fast) Her favorite road and gravel rides are around horse farms in north Georgia (USA) and around lavender fields in Provence (France) BusinessEuropean Stocks Bounce on Bullish Outlooks From ASML, SiemensBy Julien PonthusPublished: November 14, 2024 at 3:24AM EST (Bloomberg) -- European stocks rebounded as bullish outlooks by both Siemens AG and ASML Holding NV helped the market recoup some of the losses triggered by Donald Trump’s election victory. The Stoxx Europe 600 Index ended the session 1.1% higher, with technology stocks outperforming and all other sectors in positive territory. Investors are assessing the path of interest rates as US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve’s preferred inflation gauge. Among individual movers, shares in ASML rallied as the Dutch maker of advanced chip-making machines reaffirmed its long-term revenue forecast amid an artificial intelligence-driven boom in semiconductor demand. German industrial giant Siemens added to the cheer, with a positive sales growth outlook that boosted its shares to a record high. Burberry Group Plc gained the most ever after the British luxury-goods maker’s retail comparable sales for the first half surpassed expectations, with analysts particularly positive on the new chief executive officer’s strategy for the group. Europe’s benchmark index has been under pressure since Trump won the race to the White House last week, with his so-called America-first policies, including hefty trade tariffs, widely expected to hurt markets outside the US. Stocks in the US have surged on the prospect of tax cuts and deregulation. “There is indeed a rotation going on,” said Raphael Thuin, head of capital market strategies at Tikehau Capital. Investors are “repositioning in the US to the detriment of Europe, triggering dislocation.” Thuin said the economic cycle may tip to Europe’s favor moving into 2025, and relatively cheap stock valuations could prove an attraction, provided China succeeds in propping up its economy. The Stoxx 600 is trailing the S&P 500 this year by the most in at least 24 years in dollar terms, and some investors expect the gap to remain wide. Data showed the euro-area economy expanded 0.9% on an annual basis in the third quarter — in line with forecasts — keeping alive expectations that the European Central Bank will cut interest rates in December.  In the US, several Fed members including Chair Jerome Powell are expected to speak later on Thursday. Officials such as Kansas City Fed President Jeff Schmid recently expressed their doubts over how far the central bank will need to lower interest rates.  Among other stock movers, shares in Banca Monte dei Paschi di Siena SpA soared after Giorgia Meloni’s government sold a minority stake to rival Banco BPM SpA. Allegro.eu SA slumped after the Polish e-commerce platform published a fourth-quarter profit outlook that analysts said was below expectations. You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. --With assistance from Sujata Rao, Kit Rees and Philip Sanders. Twitter feed ©2025 BellMedia All Rights Reserved To facilitate access to different languages and provide more information on our site, we have opted for automatic translation.Despite our vigilance, please bear with the sometimes literal translation of contents. Inetum, the European leader in digital services and solutions, is a founding partner of SISTEMIC, a project aimed at fostering a new generation of talented women in the field of STEM (Science, Technology, Engineering and Mathematics). As the first partner and founding sponsor of this new project, Inetum is pursuing its commitment to increase the number of women in scientific and digital careers and education. Women at the heart of the 4th industrial revolution Already committed to the Women in Africa Foundation to promote women's entrepreneurship on the African continent and, more globally, the contribution of digital technology as a lever of positive impact complementary to its ambitions to empower its teams, Inetum continues to support the actions led by Aude de Thuin on a new project. SISTEMIC is an initiative that came into being when three women got together – Aude de Thuin, founder of the Women's Forum for the Economy and Society, Angélique Gérard, emblematic figure of the Free/Iliad group, and Léna Touchard of X-HEC Entrepreneurs. Three generations of women committed to promoting the role of women in science and technology. As a long-standing sponsor of Women in Africa for the past 6 years, Inetum reinforces its commitment to a positive dynamic to promote science, technology, engineering and mathematics among women. “We are delighted to count Inetum among the founding members of SISTEMIC. We need more women in digital professions in order to promote diversity in this sector. We must ensure that tomorrow's technologies are not thought out and designed solely by men, for men. We thank Inetum for its renewed confidence,” Aude de Thuin, founder of the Women's Forum, concludes. SISTEMIC is a unique ecosystem of inspiration, support, training and recruitment that aims to create a new generation of women talent in STEM (Science, Technology, Engineering, Mathematics). Created by Aude de Thuin, Angélique Gérard and Léna Touchard, this innovative initiative is based on three mechanisms: an annual international forum to inspire new generations and bring the ecosystem together, a talent platform for women that’s dedicated to recruitment, mentoring and networking, and a STEM ACADEMY (Social and Solidarity Economy Training Organisation) for training and support. Inetum certified Top Employer Europe 2025! With our constantly evolving environment, you'll have the opportunity every day to grow your expertise and create digital impact quickly, easily and for the good of all. Calle Surubim 577 - 17º piso, conjunto 71 Brooklin 04571-050, São Paulo Calle 104 ,18 A-52. Piso 2 y 3. Edificio Torre 104 110111, Bogotá Blvd. Manuel Ávila Camacho 191, int. 502, Col. Los Morales Polanco 11510, Mexico 1100 Bd El Qods, Parc Casanearshore Shore 28 Sidi Maârouf 20190, Casablanca Av. Jorge Chávez 275 Of. 203 – Miraflores 15074, Lima Doamnei Street, number 14-16 030056, Bucarest Calle María de Portugal, 9-11 28050, Madrid Immeuble Harbour, Avenue de la Bourse, 1053, Tunis Aurélie Thuin, head of Lux Basse Vision, presents the Orcam technology that helps people with visual impairments. Photo: Hugo Hirsch / Maison Moderne Orcam has developed a revolutionary application that uses artificial intelligence to enable visually impaired and blind people to ‘see’ the world around them. The solution was recently launched in Luxembourg by Lux Basse Vision, run by Aurélie Thuin. There are 36m blind people in the world. Yet “our system is anything but adapted for the blind. The people concerned are not sufficiently informed about the devices available to help them,” says Aurélie Thuin, head of Lux Basse Vision. The story begins when Ammon Shasua and Ziv Arinam created Mobileye. The application, which uses the power of computer vision to improve car safety, has been a huge success: used by more than 27 car manufacturers, it was sold to Intel for $15bn. But it wasn’t enough to satiate the company’s Israeli co-founders, who realised that artificial intelligence technology could also help people with visual impairments. They founded Orcam in 2010. In 2013, the beta version of Orcam My Eye came to life and the first devices were marketed two years later. The sale of MobilEye in 2017 provided the opportunity to finalise the second version of the software: Orcam My Eye 2. Orcam is a discreet, portable device that clips onto the user’s glasses frame. It uses a camera to capture images of the environment, then processes them using onboard artificial intelligence. The device can then communicate the information to the user via a small speaker or a wireless connection to an earphone or hearing aid. “Reading machines already existed, but they were too big to leave the house. Orcam doesn’t have this limitation,” says Aurélie Thuin. Orcam My Eye 2 can be attached to any frame. Thanks to its camera and onboard AI, the device communicates information to the user via a loudspeaker. Photo: Hugo Hirsch / Maison Moderne The application offers a multitude of functions, including instant and intelligent reading (asking for a precise part of a text), facial recognition, and identification of colours, barcodes and banknotes. It responds to simple, intuitive gestures and has a voice command. To activate it, simply say, “Hey Orcam.” The technology is easy to master, requiring just a few minutes’ training (or a few hours for the less experienced). The device has a battery life of around three hours, so if you’re going out for a long time you’ll need an external battery. “There are always things that can be improved, such as integrating a navigation or environmental recognition system (...) The device is frequently updated, as long as it is connected to wifi and charging,” explains Thuin. For those worried about personal data, the device has a very small memory and is only designed to recognise relatives (a maximum of ten). To do this, it has to photograph the individual several times, from different angles. No information circulates outside this memory. Another service, Orcam Read, is designed for people with dyslexia, illiteracy or aphasia. Available in 25 languages, the portable reading machine uses a laser. Simply point and click for the device to decipher the scanned text. The Orcam Read device helps people who are unable to read. Users scan the text they wish to consult and the device reads it aloud. Photo: Hugo Hirsch / Maison Moderne Visually impaired people can get full reimbursement for Orcam technology by completing the R20 long-term care insurance form. This is a good thing, as the device costs around €4,000. Lux Basse Vision is the only partner of this technology in Luxembourg. “There’s a trade fair in Frankfurt, where every manufacturer presents its new products. That’s when I met Orcam, who were looking for distributors in the region,” explains the owner, who hails from Hauts-de-France. Therapeutic filters, optical magnifiers, remote enlargers, reading machines... Thuin offers a whole range of other gadgets to relieve eye problems for everyone, sighted or blind. A number of organisations provide support for people with visual impairments: - The centre for the development of sight-related skills (CDV): its aim is to enable pupils to acquire maximum independence and complete their schooling despite their visual impairment. The centre also offers specialised courses for adults who are visually impaired or blind, as well as for anyone else who is concerned. - The Fondation Lëtzebuerger Blannevereenegung, which improves the lot of blind and visually impaired people and defends their interests. However, apart from these establishments, some audible traffic lights and a few Braille books, the resources available for blind people are still inadequate. This story was first published in French on . It has been translated and edited for Delano. Hafsat Abiola-Costello, Nigerian civil rights and democracy activist, has been appointed executive president of Women in Africa (WIA) initiative. WIA is a network of women across Africa and around the world that has strong relationships with companies and organisations, especially in Europe. It is dedicated to economic development and supporting women, mostly in Africa; but has always been headed by non-Africans. The organisation described Abiola-Costello’s appointment as a key step for the initiative. “This is the stage of maturity. Since the beginning of WIA initiative, I have always said that I would give my place to an African woman, because it is in the logic of WIA to have an African president,” Aude de Thuin, her predecessor, said. ”It is with women that Africa will develop in trust and in complementarity with men.” According to her,she chose Abiola-Costello “first because of her personality; she was one of the first WIA ambassadors, and joined WIA council a year ago.” “Secondly, because of her career as an activist for human rights, civil rights and democracy, and values so close to ours made her the ideal candidate. “Finally, for her analysis and her vision of the role of women in the economy. All this combined made it obvious that she is the right person at the right place.” The new president said she accepted the post because she believes in the vision of the organisation. ”It could very well be the game-changer that unleashes the long-anticipated rise of the continent.” She added that her primary goal is to learn in the first year of her tenure. “My goals for 2018 are understandably modest; it is primarily to learn,” she said. ”To learn how the organisation currently operates, to meet our partners and listen to their vision and interests, to engage with our members across the continent and learn what they see as the biggest opportunities and the toughest challenges. ”In the coming year, my focus will be on building out the structure for the future and beginning to tie that structure to performance. “I’ll be focusing on ensuring that we have ambassadors in all the countries of Africa, that we have active councils in at least a third of these, and that we expand the network of partners that we engage on behalf of our members.” Abiola-Costello is the daughter of Nigeria’s democracy icon, Moshood and Kudirat Abiola, who died in the struggle to restore civil rule in Nigeria. Your email address will not be published. Required fields are marked * Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Join the conversation You can save this article by registering for free here. Or sign-in if you have an account (Bloomberg) — Retail daredevils — undeterred by recent Wall Street jitters over AI and crypto — are going long pumping up leveraged funds to nearly $100 billion Subscribe now to read the latest news in your city and across Canada Create an account or sign in to continue with your reading experience Article contentSpeculators are buying the dip in exchange-traded funds that invest in what have been some of the hottest stock strategies This breed of ETF is designed to profit at two or even three times an asset’s gain have drawn particular attention given the share price momentum in tech dip buyers flocked to products that offer to amp up returns in semiconductors in the wake of the sector’s worst single-session drop in nearly five years And an ETF that tracks twice the performance of Ether which saw the steepest loss in nearly four years on tariff-related fears By signing up you consent to receive the above newsletter from Postmedia Network Inc The next issue of Top Stories will soon be in your inbox Interested in more newsletters? Browse here. “Near-euphoric sentiment among ETF investors, a buy-the-dip strategy that rarely seems to fail and a record number of leveraged products, make this market environment ripe for ‘degen traders,’” Athanasios Psarofagis, BI ETF analyst, wrote in a recent note. Such investors seek “high-risk and leveraged investments.” US stocks edged higher Monday powered by tech companies, brushing off the latest tariff fears.  The self-proclaimed degenerate gambling crowd or “degen” — daytraders who tout their risk-taking activities while flexing on social media — are having their moment in the sun. And the resilience of bullish appetites bodes well for Wall Street issuers filing for new products that generate gains from popular indexes and single stocks.  The euphoric sentiment has largely shrugged off market angst following the debut of China’s DeepSeek, which frayed the excitement around artificial intelligence that powered much of the long-standing bull market. That a Chinese firm may have created a powerful AI model at a fraction of the cost of US rivals raised concerns over whether the billions of capital spending megacap tech companies have been lavishing on development was justifiable. It’s still “a market to be invested in,” Raphael Thuin, head of capital market strategies at Tikehau Capital SCA, said by phone. “What matters is capacity for companies to generate earnings. What matters is monetary policy. What matters is growth.” One notable absence in the dip-buying cheer was a strategy that amps up Nvidia returns (NVDL), which experienced outflows last week. That followed after traders plowed a record $1.6 billion into the fund in the prior five-day stretch. Launching new products can be hit or miss business. Direxion has a fund that bets against AI and big data (AIBD), for example, which has less than $2 million in assets after some nine months. And in June last year, it announced plans to shutter its leveraged fund tracking global clean energy due to insufficient funds. Amid the leveraged ETF boom, industry critics have raised concerns that some investors might not be reading the fine print, and putting themselves at risk for devastating losses as quick as the recent stratospheric gains. Such products are often meant for active traders who want to bet on and against an asset’s performance for no more than a single day, as these funds typically veer off course when tracking shares over a longer period. “The speculation is there,” Jim Chanos, president and founder of Chanos & Co., said during an interview with Bloomberg Television last Wednesday pointing out the return of speculator interest in meme coins. “Not quite where it was in 2021 — which was the most speculative market I have seen — but it is getting back there.” —With assistance from Scarlet Fu and Romaine Bostick. (Updates to add stock-market advance in Monday trading in sixth paragraph) transmission or republication strictly prohibited This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy You can manage saved articles in your account Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world 2025 at 12:06 PM EDTBookmarkSaveTakeaways NEWEuropean stocks tumbled into a correction on Friday as China retaliated against US tariffs The Stoxx Europe 600 Index slid 5.1% at the close in London recording its worst weekly drop since the outbreak of the Covid-19 pandemic five years ago Switzerland and Germany were also in correction territory after news that Beijing would impose a 34% tariff on all imports from the US Late sprint by young Belgian too much for Senechal and Consonni Timo Kielich (Alpecin-Deceuninck) won with room to spare in Mont-Saint-Guibert on stage 3 and took the overall lead at Tour de Wallonie on Monday Florian Sénéchal (Soudal-QuickStep) grabbed second place just ahead of Simone Consonni (Cofidis) from the large bunch sprint From the start in Thuin there was an immediate attack by three rides Alex Colman (Flanders-Baloise) and Tord Gudmestad (Uno-X Pro Cycling) Only once did it appear there might be trouble for the trio as Gudmestad having to stop for a flat tyre with 122km to go They stayed away for 137km and were picked up by the peloton before entering the local circuit at Mont-Saint-Guibert Meens used his efforts to consolidate his white jersey lead in the mountain classification,  The final circuit of 25km saw Dries De Bondt (Alpecin-Deceuninck) and Ande Holter (Uno-X) attack but the attempt to stay away lasted only 10km The sprint teams positioned at the front headed to the final kilometre and with under 500 metres to go Kielich made a massive acceleration to the front.  also moved into the points classification lead “It's really nice to win a stage in a ProSeries race The last kilometers made the final difficult We were still three riders at Alpecin-Deceuninck and one rider attacked we were pushing hard until the last corner to catch up with him I was able to continue my effort and I resisted until the line This result proves that I have my place in the team,” Kielich said saying that he did not expect to keep the orange leader’s jersey after the individual time trial on Tuesday Results powered by FirstCycling BusinessCredit Traders Rush to Hedge on US Economy FearsBy Tasos Vossos and Olga VoitovaPublished: August 03, 2024 at 3:00PM EDT (Bloomberg) -- Debt investors are loading up on insurance against corporate bond defaults as concerns mount about the health of the US economy and the European consumer. The cost of protecting a basket of North American high-grade credits against default surged on Friday by the most since October. Trading volumes on that credit default swap index, the CDX.NA.IG, reached the highest daily level in about five months on Friday, according to data compiled by Bloomberg. The European equivalent this week had its busiest day since French President Emmanuel Macron in June called a surprise election. Credit derivatives are often the first instruments to show signs of weakness in a market downturn, in part because selling bonds can take longer. Traders upped their purchases of protection after a slew of weak labor market data raised concerns that the Federal Reserve has waited too long to cut interest rates.  Money managers have also been rattled by underwhelming earnings from technology companies and consumers cutting back on everything from fast food to luxury handbags.  “Weaker macro and impact on earnings going forward is the one underpriced risk in the markets in our view,” said Raphael Thuin, head of capital market strategies at Tikehau Capital. “This could end up affecting credit spreads, at a time when valuations are nowhere near cheap.” Bond spreads look poised to widen because they are currently at the tight end of a range that was justified by factors including rate cut expectations and buyers paying more attention to absolute yield levels than relative valuations, said Srikanth Sankaran, Citigroup Inc.’s head of European credit strategy. In the same region, JPMorgan Chase & Co. strategists “recommend setting cheap hedges” through the investment-grade iTraxx Europe credit default swap index, arguing that “earnings season is off to a shaky start.” BNP Paribas SA’s credit strategy desk suggests betting on widening spreads through a CDS gauge tracking senior financial issuers. Even with the rise in volumes, the iTraxx Europe index is trading at around 63 basis points, far closer to multiyear lows than the triple-digit levels recorded in 2022 and 2023. The CDX.NA.IG index has reached about 58 basis points, its highest level since January, but is still below its five-year average. In a sign of market concern about economic weakness, traders are now pricing in Fed rate cuts of more than a percentage point this year, and at the end of the week the US stock market had its worst two-day slide since March 2023. Central bank officials had previously penciled in a single rate cut in 2024, according to the median projection released in June. It comes as companies in the US are on track to report their lowest aggregate earnings beat over forecasts since the fourth quarter of 2022. Sales among the European companies that have reported second-quarter earnings have come in about 1.2% below analysts’ expectations, data compiled by Bloomberg shows.  “There is a cyclical theme to it which hasn’t been present before. It illustrates that the balance of risk is probably shifting from ‘too hot, rates higher’ toward ‘too cold, rates lower’,” said Viktor Hjort, global head of credit strategy and desk analysts for BNP Paribas. For him, the market is currently between the two states. Despite the concerns, some bond buyers, especially those driven by yield, will keep bidding for credit. That demand means it may take time for weakness to show up in the corporate bond market, but even before it does, the CDS market will be the place to see emerging cracks. When volatility rises, “the usual effect is that people hedge using the liquid CDS index and then sell their bonds later,” said Matt King, founder of researcher Satori Insights. “Usually what forces the cash index to move is if people start to have significant outflows,” and “based on the global numbers I don’t think that’s happened yet, but will be a significant risk.” for the inauguration of SEBIGAS’ successful new venture into the Belgian biogas market in collaboration with Walvert a local Walloon company with over 10 years’ experience in anaerobic digestion in the agricultural sector the plant will process approximately 12,000 tonnes of agricultural by-products to produce 5000 MWh of electricity (which corresponds to the consumption of about 1500 households) and will provide an equal amount of thermal energy for district heating The produced digestate will be returned to local fields in the form of liquid and solid fractions acting as both fertiliser and soil improver.     This project has been running since January 2019 and has brought together private actors local citizens and farmers… successfully demonstrating that very concrete steps can be taken at a local level towards a sustainable future and a local bioeconomy.  European Biogas AssociationAvenue des Nerviens 85 , B-1040 Brussels, Belgiuminfo@europeanbiogas.eu +32 24 00 10 89 Subscribe!function(m,a,i,l,s,t,e,r){m[s]=m[s]||(function(){t=a.createElement(i);r=a.getElementsByTagName(i)[0];t.async=1;t.src=l;r.parentNode.insertBefore(t,r);return !0}())}(window,document,'script','https://tibet.net/wp-content/plugins/mailster/assets/js/button.min.js','MailsterSubscribe'); Tibetan national flag raised in Watermael-Boitsfort Brussels: Led by mayors of respective municipalities many across Europe have hoisted the Tibetan National Flag in observance of the 61st anniversary of Tibetan Uprising Day on 10 March The municipalities of Schaerbeek and Watermael-Boitsfort of Brussels Wels of Austria and many other municipalities have been raising the Tibetan flag for over 30 years the flag hoisting campaign has been hugely successful in Europe with over 2000 Town halls hoisting the Tibetan flag on 10 March In order to reinvigorate the campaign and communications Brussels published and distributed special cards with images of Tibetan flag; it’s description and the Tibetan national anthem to commemorate 10 March Brussels presents around 2000 cards to the EU institutions The objective is to document the 30-year-old Tibet flag campaign to thank and reconnect with those who participated in the campaign and regenerate interest on Tibet Many have responded to the communications enthusiastically while many mayors wrote back to thank and reassure to raise the Tibetan flag on March 10 His Holiness the Dalai Lama Offers Congratulations to Anthony Albanese on His Re-election as Prime Minister of Australia Sikyong Meets Current and Former Chairs of the US House Foreign Affairs Committee to Discuss Appointment of Special Coordinator for Tibetan Issue His Holiness the Dalai Lama Congratulates Canadian Prime Minister Mark Carney on His Party’s General Election Victory Speaker Khenpo Sonam Tenphel offers condolence over the demise of His Holiness Pope Francis Tibet at a Glance Tibetan National Flag Global Tibet Movement Constitution Leadership Judiciary Legislature Executive Election Commission Public Service Commission Auditor General Religion and Culture Home Finance Education Security Information & International Relations Health Issues Facing Tibet Sino Tibetan Dialogue Middle Way Approach Dolgyal-Shugden © Central Tibetan Administration • Privacy Policy • Terms of Service