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Economic Times
12 hours ago
- Business
- Economic Times
Wall Street's booming June is big bet against economy doomsayers
Wall Street sees a market rally, fueled by receding trade war fears. The S&P 500 hits a record high. Investor optimism rises despite economic uncertainty. Synopsis Wall Street is celebrating a market surge fueled by receding trade war fears, with the S&P 500 hitting a record high. Investor optimism is high despite economic uncertainties and policy concerns. Cooling inflation and improved consumer sentiment are driving the rally across stocks, bonds, and commodities. Wall Street is throwing a summer party with markets just closing out their best cross-asset advance in more than a year on receding fears of a global trade war, igniting a buying frenzy in everything from tech funds to junk bonds. ADVERTISEMENT With the S&P 500 enjoying its first record since February, it's the triumph of investor optimism at a moment of high uncertainty around the economy, valuations and government policy — with the White House delivering a Friday surprise by threatening to end negotiations with Canada over a digital services tax. Still, bulls are latching onto signs of cooling inflation and improving consumer sentiment even as jobless claims rise, the housing market stays cool, global trade softens and hopes fade for an imminent Federal Reserve interest-rate cut. Rather than falter, bullish conviction has surged to levels not seen since Donald Trump returned to the White House, powering a lockstep rally across stocks, bonds, commodities and credit that rivals the broadest monthly gain since May 2024. Volatility that shook markets just weeks ago has completely faded, replaced by a headlong rush into risky bets. Retail traders have dived back in as systematic investors have hiked exposure. The exuberance now hinges on the economic backdrop delivering enough good news to justify stretched prices.'The market is exhibiting signs of complacency,' said Raphael Thuin, head of capital market strategies at Tikehau Capital. 'Across a range of potential risks — be it trade negotiations, a broadening macroeconomic slowdown, geopolitical tensions, growing fiscal deficits, or rising interest rates — market participants appear to be pricing in optimistic outcomes.'Worrywarts on the economy and markets have been famously wrong, month after month. Yet the likes of JPMorgan Chase & Co. still put the risk of a recession at 40%, citing tariffs and the prospect of weaker household spending colliding with falling business sentiment. He's among those fretting that global growth will slow in the second half of the year. ADVERTISEMENT While a report Friday showed US consumer sentiment hit a four-month high in June as inflation expectations improved, other data this week painted a less encouraging picture. Purchases of new homes fell in May by the most in almost three years. Recurring applications for unemployment benefits are now at the highest level since 2021, aligning with other data pointing to a slowdown in the labor market. Consumer spending declined in May by the most since the start of the reports were backdrop to testimony this week by Fed Chair Jerome Powell before Congress, where he said interest rates would probably be coming down already if not for uncertainty around Trump's trade policy. He joined a parade of central bank officials who made clear in speeches they'll need a few more months to be sure tariff-driven price hikes won't raise inflation in a persistent way. ADVERTISEMENT None of that derailed the risk rally. The S&P 500 surged 3.4% this week and closed at a record high. Junk bonds extended gains for a fifth week as 10-year Treasury yields fell around 10 basis points. Bitcoin is back above $100,000 and Coinbase Global Inc. hit its first record since 2021. Altogether, the pan-asset tandem rallies in June of US stocks, long-dated Treasuries, junk bonds and the Bloomberg Commodity Index set them for their best monthly performance in 13 months. ADVERTISEMENT Volatility-controlled products have been amping up exposure, with one Nomura Securities International measure showing projections for the biggest buying spree since at least 2004. Quants chasing trends across assets have also bolstered their long exposure to stocks after turning short for a few weeks, according to Barclays precarious positioning for investors, who just endured one of the more volatile quarters ever recorded, said Julie Biel, portfolio manager and chief market strategist at Kayne Anderson Rudnick.'People forget that FOMO isn't unbridled optimism, it's fear driven. So if we have weakening margins or earnings or employment data really deteriorates, there isn't a lot supporting the market,' Biel said. 'We learned the lesson earlier this year of why a narrow market isn't a robust one.' ADVERTISEMENT One sign of doubt under the surface: Popular funds tied to speculative bets that led the recent market gains — from tech disrupters and small-cap stocks to gold miners and uranium — are flashing signs of caution. Traders are loading up on protective options, with demand for downside insurance rising. In funds like the ARK Innovation ETF, the iShares Russell 2000 ETF and the VanEck Gold Miners ETF, options markets are pricing in significant downside risk, according to Barclays Schutte, CIO of Northwestern Mutual Wealth Management Company, isn't chasing the bounce, citing stretched S&P 500 valuations. He's tilted toward cheaper, small and mid-cap stocks and internationals. 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Business Wire
20-06-2025
- Business
- Business Wire
Tikehau Capital: Disclosure of Shares Repurchases from 13 June 2025 to 19 June 2025
- Contacts Tikehau Capital Tikehau Capital BOURSE:TKO Release Versions English French Contacts Tikehau Capital Get RSS Feed Tikehau Capital: Disclosure of Shares Repurchases From 30 May 2025 to 05 June 2025 PARIS--(BUSINESS WIRE)--Regulatory News: Tikehau Capital (Paris:TKO): In accordance with Article 5 of EU Regulation n° 596/2014 (Market Abuse Regulation), detailed information is available on the website of Tikehau Capital: Name of the issuer Issuer Identity Code (LEI) Trading Day ISIN Aggregated volume per day (number of shares) Weighted average price per day Market (MIC Code) TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 30/05/2025... Back to Newsroom
Yahoo
16-06-2025
- Business
- Yahoo
OpenGate Capital Enters into Binding Agreement to Sell ScioTeq to Tikehau Capital
NEW YORK & PARIS, June 16, 2025--(BUSINESS WIRE)--OpenGate Capital ("OpenGate"), a global private equity firm, announced today that it has entered into a binding agreement for the sale of ScioTeq, a global leader in ruggedized displays for the aviation and defense industries, to the aerospace and defense fund of global alternative asset manager Tikehau Capital (ISIN code: FR0013230612; Ticker: ScioTeq has a 40-year heritage of designing and manufacturing advanced visualization and computing solutions for the aviation, defense and air traffic control markets. With sales, engineering and manufacturing locations across the world, the company specializes in rugged, high-performance display systems and mission-critical electronics that support situational awareness in the most demanding environments. Utilized by governments and industry leaders worldwide, ScioTeq delivers technology that is engineered for precision, reliability, and long-term support. OpenGate acquired ScioTeq from TransDigm Group Inc. (NYSE: TDG) in 2021 through a corporate carve-out. Under its ownership, ScioTeq has achieved growth and transformation, strengthening its market presence and operational capabilities to become a trusted partner in delivering innovative solutions. OpenGate will maintain a meaningful minority position and will continue to support the company's next phase of growth. The transaction is expected to close by Q4 2025. OpenGate was advised on the transaction by Lazard as financial advisor and McDermott Will & Emery as legal counsel. About OpenGate OpenGate is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Headquartered in both New York and Paris, OpenGate has been building and transforming businesses since 2005. OpenGate's professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit About Tikehau Capital Tikehau Capital is a global alternative asset management group with €50.6 billion of assets under management (as of 31 March 2025). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. To learn more about Tikehau, please visit View source version on Contacts OpenGate Media Contact: Profile AdvisorsEmail: Pro-opengate@ OpenGate Contact: Joshua AdamsPartnerEmail: jadams@ Telephone: +33 (0) 1 40 06 01 58 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-06-2025
- Business
- Business Wire
OpenGate Capital Enters into Binding Agreement to Sell ScioTeq to Tikehau Capital
NEW YORK & PARIS--(BUSINESS WIRE)-- OpenGate Capital ('OpenGate'), a global private equity firm, announced today that it has entered into a binding agreement for the sale of ScioTeq, a global leader in ruggedized displays for the aviation and defense industries, to the aerospace and defense fund of global alternative asset manager Tikehau Capital (ISIN code: FR0013230612; Ticker: ScioTeq has a 40-year heritage of designing and manufacturing advanced visualization and computing solutions for the aviation, defense and air traffic control markets. With sales, engineering and manufacturing locations across the world, the company specializes in rugged, high-performance display systems and mission-critical electronics that support situational awareness in the most demanding environments. Utilized by governments and industry leaders worldwide, ScioTeq delivers technology that is engineered for precision, reliability, and long-term support. OpenGate acquired ScioTeq from TransDigm Group Inc. (NYSE: TDG) in 2021 through a corporate carve-out. Under its ownership, ScioTeq has achieved growth and transformation, strengthening its market presence and operational capabilities to become a trusted partner in delivering innovative solutions. OpenGate will maintain a meaningful minority position and will continue to support the company's next phase of growth. The transaction is expected to close by Q4 2025. OpenGate was advised on the transaction by Lazard as financial advisor and McDermott Will & Emery as legal counsel. About OpenGate OpenGate is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Headquartered in both New York and Paris, OpenGate has been building and transforming businesses since 2005. OpenGate's professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit About Tikehau Capital Tikehau Capital is a global alternative asset management group with €50.6 billion of assets under management (as of 31 March 2025). Tikehau Capital has developed a wide range of expertise across four asset classes (credit, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. To learn more about Tikehau, please visit
Reuters
16-06-2025
- Business
- Reuters
French finance companies launch European defence investment fund
BRUSSELS, June 16 (Reuters) - Four major French financial companies launched on Monday a new fund focusing on European security and defence, as investors tap into Europe's race to re-arm itself in light of the Russia-Ukraine war and other global conflicts. The Tikehau Defense and Security fund, with an initial commitment of 150 million euros ($173.4 million), is being launched by Tikehau Capital ( opens new tab, Societe Generale Assurances ( opens new tab, CNP Assurances and CARAC Group. Tikehau Capital, SocGen, CNP and CARAC said the fund had the support of the French ministry of defence. Last week European foreign ministers said they were ready to take tougher action against Russia, and the European Union has earmarked up to 800 billion euros for defence through to 2030. In March, Belgium's state-owned financial firm Belfius had also said it would invest in defence companies headquartered in NATO countries. "As partner and shareholder of Tikehau Capital since 2011, taking part in the launch of this fund dedicated to defense and security seemed natural to us," said Michel Andignac, the chief executive of CARAC. "It will enable us to step up our own investments in companies supporting the sovereignty and strategic autonomy of France and Europe." ($1=0.8653 euros)
