Insights

Every month, find out all about the sustainable market bonds news in our newsletter "MySustainableCorner".

At the start of the last quarter, equity markets continued to rise despite a turbulent environment: crisis in the Middle East, sovereign debt tensions and rise in long-term interest rates. Ostrum AM's scenario from last November is largely borne out: continued rise, volatile first half, year driven by the rebound in profits, even if the paths taken were not those anticipated.In an uncertain environment, earnings growth has become the main performance driver, while valuation multiples are contracting. The question is no longer about the direction of the markets but about the strength of the drivers: investment cycle in AI, record profitability, markets’ ability to absorb the rise in interest rates.Source: Ostrum Asset Management, October 2026. The analyses and opinions expressed in this document represent the view of the named authors. They are issued on the date indicated, are subject to change and should not be interpreted as having any contractual value. 

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum AM's views on the economy, strategy and markets.

For the ninth episode of Transitions, we discussed whether social and environmental risks are ranked differently in investment decision-making, with Maud Pierre-Minuit, Director of Sustainable Transitions, and Timothée Pubellier, Senior Fixed Income Portfolio Manager and Sustainable Bonds Specialist.

Every month, find out all about the sustainable market bonds news in our newsletter "MySustainableCorner".

The strategic choice of treasurers and institutional investorsCash is backSince 2022, the cash management landscape has been profoundly disrupted. After a decade of negative rates – a period where holding cash was a real cost for companies and institutional investors – the European Central Bank’s monetary normalisation has dramatically changed the game. The ECB deposit rate rose from -0.5% to 4% in just a few quarters, before stabilising around 2% (2.25% since June 2026), with prospects of a gradual increase towards 2.50% by the end of 2026 (Ostrum Asset Management estimates, as of September 2026).This new reality has transformed the perception of cash within finance departments and institutional investment teams. Liquidity is no longer seen as a dormant asset but rather as a true asset class in its own right that deserves strategic attention on par with equities and bonds. In this environment, a key question for any treasurer or institutional investor is: should I use bank deposits or money market funds to manage my liquidity ?

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum AM's views on the economy, strategy and markets.

Each month we share the conclusions from the monthly strategy investment committee which provides a summary of Ostrum AM's views on the economy, strategy and markets.