Post by ODDO BHF

Welcome to our monthly newsletter ⬇️ ➡️ Laurent Denize, Co CIO at ODDO BHF, examines SpaceX’s historic IPO as a symbol of markets increasingly driven by AI momentum and capital flows rather than fundamentals alone. While technical factors may support the stock in the short term, elevated valuation and structural risks remain. In this environment, investors must balance strong growth opportunities with rising bubble risks through disciplined selectivity. ➡️ Bruno Cavalier, Chief Economist at ODDO BHF, analyzes the impact of the Strait of Hormuz shock on the global economy. While the oil disruption proved contained and inflation is set to ease, growth (especially in the euro area) remains fragile. In this context, the ECB’s tightening stance raises the risk of a policy mistake. Discover the full outlook below.