Home

Blog Lazard Frères Gestion

Headlines

European banks: a stable stock of government-backed loans

Chart of the week One of the key measures taken in Europe to deal with the health crisis was the … Continue reading

Macroeconomic focus – October 2021

Higher rates on the horizon US economic data suggest fourth-quarter economic growth will be very high at approximately 7% on … Continue reading

In 2021, risk has paid off in Fixed Income markets

Chart of the week Last year, the various segments of the Fixed Income market performed in divergent manners in Europe, … Continue reading

Our latest news

European banks: a stable stock of government-backed loans

Chart of the week One of the key measures taken in Europe to deal with the health crisis was the … Continue reading

Macroeconomic focus – October 2021

Higher rates on the horizon US economic data suggest fourth-quarter economic growth will be very high at approximately 7% on … Continue reading

In 2021, risk has paid off in Fixed Income markets

Chart of the week Last year, the various segments of the Fixed Income market performed in divergent manners in Europe, … Continue reading

A well-oriented indicator a few days before Christmas

Chart of the week Each year, the end of December is characterized by its festivities. These have the tendency to … Continue reading

United States: Weekly unemployment figures hit new lows

Chart of the week Weekly jobless claims reached levels not seen since the late 1960s, with a low point of … Continue reading

Omicron variant pushes sovereign interest rates to abnormally low levels

Chart of the week With the announcement of the new Omicron variant on November 26, fixed income market interest rates … Continue reading

Euro zone: inflation continues to accelerate

Chart of the week The early release of Euro zone inflation figures shows a further acceleration in inflation. The year-on-year … Continue reading

Pharmaceutical sector: a victim of Covid?

Chart of the week Despite being in the news since March 2020, the pharmaceutical sector is not one of the … Continue reading

Rebound of the epidemic in Europe

Chart of the week A bit like a déjà vu.… In the last few weeks, a strong rebound of contagions … Continue reading

Central banks: The BoE springs a surprise

Chart of the week On 4 November, the Bank of England (BoE) surprised markets by keeping its policy rate unchanged … Continue reading

US labour costs rise

Chart of the week The employment cost index rose by a non-annualised 1.3% in the third quarter. The increase is … Continue reading

Macroeconomic focus – October 2021

No indication of easing pressure September’s job creation numbers came in well below expectations of 500,000 at just 194,000, largely … Continue reading

Magnesium shortage hits the markets

Chart of the week Magnesium prices on the metals market have been soaring since September. Recent weeks have seen the … Continue reading

What next for US inflation expectations?

Chart of the week As inflation has heated up in recent months, so has the debate over how temporary the … Continue reading

European banks turn the page on loans under moratoria

Chart of the week In the European Union, the amount of outstanding loans under moratoria (deferred repayment of interest and … Continue reading

Video | Economic and Market Outlook September 2021

In a context where central banks remain very accommodative and vaccination is helping to limit the severity of the Delta … Continue reading

Gas and electricity prices: Europe’s back is against the wall

Chart of the week Since the start of 2021, energy prices in Europe have been rising to unprecedented highs. In … Continue reading

Market outlook S2 2021 | Equity Markets

Part 1 : an increase driven by earnings forecasts Equity markets have risen sharply since the beginning of the year, … Continue reading

Market outlook S2 2021 | Bond Markets

Part 1 : toward a reduction in the Fed’s support, the ECB’s continuation After the sharp rise in yields seen … Continue reading

Economic outlook S2 2021

Part 1 : what is the trajectory after the growth peak? Q2 GDP growth has reached one of the highest … Continue reading

Central banks: Norway is the first G10 country to raise rates

Chart of the week Norway’s central bank raised its benchmark interest rate by 0.25% at its recent meeting. After having … Continue reading

Pillar 2 Guidance (P2G): Banking regulations: what has changed?

The Covid-19 crisis has disrupted European banking supervision rules. The temporary reduction of certain capital requirements, approved in March 2020, … Continue reading

United States: a deceptive slowdown in inflation

Chart of the week August’s inflation figures came in below expectations. Headline inflation in August rose by 0.3% compared to … Continue reading

United States: growth hampered by automotive industry challenges

Chart of the week Car sales fell again in August. Only 1.08 million vehicles were sold during the month, some … Continue reading

Macroeconomic focus – July 2021

The ECB concludes its strategy review The ECB[2] has concluded its strategy review and presented its conclusions. The former inflation … Continue reading

The shortest recession in U.S. history officially ended in April 2020

Chart of the week The business cycle dating committee of the National Bureau of Economic Research (NBER) has delivered its … Continue reading

Do dividends really constitute a form of remuneration of a company’s shareholders?

Question of the week Through their activity and sales, and once all their expenses are paid, companies generate liquidity that … Continue reading

Ban on bank dividends: a strange remedy with severe side effects

Analysis By Scander Bentchikou, analyst-manager at Lazard Frères Gestion, a specialist in the banking sector The restrictions on bank dividends, … Continue reading

Automotive sector: component shortages are disrupting vehicle production

Chart of the week For several months, motor vehicle manufacturers have been adjusting their output to cope with electronic component … Continue reading

United States: significant pressure in the housing market

Chart of the week The months come and go but the US housing market remains the same. The Case-Shiller home … Continue reading

Macroeconomic focus – June 2021

A strong economic rebound looks likely First-quarter growth was revised upwards to -1.3% from the previous estimate of -2.5%, which … Continue reading

How can you tell if a stock is “expensive” or “cheap”?

Question of the week It is often said that tech companies are “expensive” on the stock market, while those in … Continue reading

Fed meeting twists the yield curve

Chart of the week In the days immediately following the Fed’s weekly meeting on 16 June, markets were volatile and … Continue reading

Hybrid bonds: a booming market

Analysis By Camille Suh, Fund Manager and Corporate Credit Specialist at Lazard Frères Gestion Halfway between securities and bonds, the … Continue reading

Economic recovery: forecasting more complex than ever before

Chart of the week Following April’s heavy disappointment when the US economy created only 278,000 new jobs rather than the … Continue reading

Vaccination in China: what’s the status?

Chart of the week China’s vaccination rate has picked up markedly in recent weeks. Data from ourworldindata.com indicate that as … Continue reading

SRI and Lazard Frères Gestion

As you already know, at Lazard Frères Gestion, we are committed to responsible investment by taking into account environmental, social … Continue reading

Japanese markets enter a new era

Analysis By Guy de Tonquedec, fund manager at Lazard Frères Gestion Japanese companies have undergone a real revolution in recent … Continue reading

“Growth” versus “Value”: What does that mean?

Question of the week On stock markets, it has become common to compare securities called “growth stocks” to those called … Continue reading

Macroeconomic focus – May 2021

Towards an economic recovery First-quarter 2021 growth numbers are still reflecting the impact of health restrictions across the eurozone. [1]GDP … Continue reading

What is a convertible bond?

Question of the week A “convertible bond” is a debt issued by a company that can be repaid in stocks … Continue reading

United States desperately seeking workers

Chart of the week April’s new jobs creations have fallen far short of expectations. While the consensus had been for … Continue reading

US weekly jobless claims improving significantly

Chart of the week At 498,000, initial jobless claims for the week ending May 1st have fallen to their lowest … Continue reading

The Lazard Frères Gestion Foundation – Institut de France Brings Musical Culture to Schools

With its support for Louise Thomas, a 25 year-old musician, in her ambition to participate in the Artist in Schools … Continue reading

Xinjiang: the S in the middle of ESG

Analysis Companies facing the challenge of exemplary social behaviour   By Stanislas Coquebert de Neuville, portfolio manager at Lazard Frères … Continue reading

United States: towards a record trade deficit?

Chart of the week March’s traded goods data seem to indicate a further widening in the trade deficit. The goods … Continue reading

Macroeconomic focus – April 2021

Signs of recovery A breakdown of eurozone fourth-quarter 2020 [1]GDP shows that renewed health restrictions primarily hit household consumption (-3.3% … Continue reading

The Surge in Carbon Prices: A Revolution That Has Gone Almost Unnoticed

Analysis By Régis Bégué, Manager, Equities Management, Lazard Frères Gestion A ton of CO2 has never been so expensive on … Continue reading

Israel and the United Kingdom two back-to-normal test cases

Chart of the week While the health situation is deteriorating in countries such as India, there are no signs of … Continue reading

Interview with Célia Oneto Bensaid

As part of its philanthropic activities, Lazard Frères Gestion wishes to support artists by inviting, every month, renowned musicians, to … Continue reading


-- PDF --