• Technology and AI concerns drove a broad risk-off move, with the Nasdaq 100 falling 1.9% over the week.
• Global corporate credit spreads widened to 129 basis points, their highest since May 2025.
• France’s OAT-Bund spread reached a record 172 basis points as oil above $110 a barrel heightened fiscal concerns.
• Relative equity exposure to technology and AI themes was reduced through geographical diversification, while the overall equity outlook remained constructive.
• The analysis favored short-end carry and roll-down strategies, maintained a bearish dollar outlook and remained bullish on gold.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Edmond De Rothschild Reim Sa published the original content used to generate this news brief on October 23, 2026, and is solely responsible for the information contained therein.