Read our market review and find out all about our theme of the week in MyStratWeekly and its podcast with our experts Axel Botte, Aline Goupil-Raguénès and Zouhoure Bousbih.
Listen to Axel Botte and Zouhoure Bousbih’s podcast (in French only)
Podcast slides (in French only)
Download the Podcast slides (in French only)Topic of the week: The thematic piece will resume on May 19.
Market review: As good as it gets
- U.S. growth: negative in 1Q 2025 but job report solid in April;
- Euro area: better-than expected GDP growth in 1Q 2025 (+0.4 %);
- U.S.: solid quarterly earnings reports despite lack of visibility;
- Equity markets keep rallying.
(Listen to) Axel Botte’s podcast:
- Review of the week – The stock market rally continues;
- Theme – US Growth and the Labor Market.
Chart of the week
The accompanying chart illustrates the positioning in the Japanese yen as reported by the CFTC for two types of investors. Net long positions in Japanese yen against the U.S. dollar in futures and options contracts have surged in recent weeks.
Institutional investors now hold unprecedented net long positions, exceeding the peaks reached in 2018. Meanwhile, speculative accounts have also covered their short positions that had been maintained since 2021. However, the Bank of Japan has remained ambiguous regarding the timing of a potential interest rate hike.
Figure of the week
80
It has been 80 years since women gained the right to vote in France.
MyStratWeekly : Market views and strategy
MyStratWeekly – May 5th 2025-
Axel Botte Head of markets strategy
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Zouhoure Bousbih Emerging countries strategist
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Aline Goupil-Raguénès Developed countries strategist
