SLOWING DOWN… in a world that is speeding up. As geopolitical tensions, rising public debt and massive investment in artificial intelligence continue to fuel uncertainty, bond markets remain under pressure, while US equities are showing remarkable resilience. Yet behind this apparent strength, growing divergences are emerging across regions and sectors, alongside an increasing concentration of performance in a limited number of technology stocks. As we enter the final quarter of 2026, with earnings releases from the Tech giants, central bank decisions and the US midterm elections on the horizon, selectivity and diversification are more important than ever as the guiding principles of our investment strategy.
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