{"id":26612,"date":"2025-08-04T12:42:25","date_gmt":"2025-08-04T19:42:25","guid":{"rendered":"https:\/\/genuscap.com\/?p=26612"},"modified":"2026-04-22T14:25:21","modified_gmt":"2026-04-22T21:25:21","slug":"genus-quarterly-summer-2025","status":"publish","type":"post","link":"https:\/\/genuscap.com\/fr\/genus-quarterly-summer-2025\/","title":{"rendered":"Genus Quarterly - \u00c9t\u00e9 2025"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"26612\" class=\"elementor elementor-26612\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ab1f030 elementor-section-boxed elementor-section-height-default elementor-section-height-default parallax_section_no qode_elementor_container_no\" data-id=\"ab1f030\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c050a7\" data-id=\"5c050a7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4eff1f3 elementor-widget elementor-widget-video\" data-id=\"4eff1f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/T2GRSJ1w4Fc&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1dd3b9e elementor-widget elementor-widget-text-editor\" data-id=\"1dd3b9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Regardez notre commentaire trimestriel ci-dessus avec Mary Lou Miles, gestionnaire de portefeuille, et Justin Hahn, strat\u00e9giste macro\u00e9conomique.\u00a0<\/strong><\/p><p style=\"font-weight: normal; font-size: 18px; line-height: 150%; text-align: justify;\">Malgr\u00e9 les tensions g\u00e9opolitiques persistantes et les menaces tarifaires, les march\u00e9s mondiaux ont continu\u00e9 \u00e0 \u00e9tablir de nouveaux records historiques. Une grande partie de cette r\u00e9silience peut \u00eatre attribu\u00e9e \u00e0 des facteurs tels que les accords commerciaux qui prennent progressivement forme, un dollar am\u00e9ricain plus faible qui soutient les b\u00e9n\u00e9fices des entreprises, et une dynamique soutenue dans des secteurs tels que l'intelligence artificielle, qui alimente l'optimisme \u00e9conomique. L'adoption d'une l\u00e9gislation fiscale importante, y compris la r\u00e9duction de l'imp\u00f4t sur les soci\u00e9t\u00e9s, devrait stimuler davantage la croissance, bien que les inqui\u00e9tudes concernant la solvabilit\u00e9 des gouvernements fassent toujours partie des perspectives g\u00e9n\u00e9rales.<\/p><p style=\"font-weight: normal; font-size: 18px; line-height: 150%; text-align: justify;\">Les d\u00e9gradations de la dette am\u00e9ricaine par les agences de cr\u00e9dit au cours de l'ann\u00e9e \u00e9coul\u00e9e n'ont pas notablement \u00e9branl\u00e9 la confiance des investisseurs, car la dette am\u00e9ricaine reste de tr\u00e8s bonne qualit\u00e9. Les tendances inflationnistes ont \u00e9galement \u00e9t\u00e9 relativement contenues jusqu'\u00e0 pr\u00e9sent, en partie en raison des comportements d'achat ant\u00e9rieurs, bien que la progression \u00e0 la baisse se soit interrompue. En cons\u00e9quence, la Banque du Canada a fait une pause dans ses r\u00e9ductions de taux depuis le mois de mars, indiquant qu'elle s'attendait \u00e0 une hausse temporaire potentielle de l'inflation si les probl\u00e8mes commerciaux \u00e9taient r\u00e9solus.<\/p><p style=\"font-weight: normal; font-size: 18px; line-height: 150%; text-align: justify;\">En r\u00e9ponse \u00e0 cet environnement, l'\u00e9quipe d'investissement de Genus a tactiquement augment\u00e9 l'exposition aux actions \u00e0 des niveaux l\u00e9g\u00e8rement sup\u00e9rieurs \u00e0 ceux de l'indice de r\u00e9f\u00e9rence, tout en d\u00e9pla\u00e7ant les portefeuilles d'obligations vers des produits \u00e0 spread, en favorisant les obligations d'entreprises par rapport aux \u00e9missions gouvernementales. La strat\u00e9gie consiste \u00e0 s'appuyer davantage sur des secteurs cycliques tels que la consommation discr\u00e9tionnaire, les communications et les technologies de l'information, qui sont positionn\u00e9s pour b\u00e9n\u00e9ficier de la poursuite de l'expansion \u00e9conomique.<\/p><p style=\"font-weight: normal; font-size: 18px; line-height: 150%; text-align: justify;\">Sur le plan g\u00e9ographique, Genus continue de surpond\u00e9rer les actions am\u00e9ricaines en raison de la solidit\u00e9 des fondamentaux et de la dynamique positive du march\u00e9, tout en conservant une position neutre sur l'Europe, o\u00f9 les march\u00e9s se sont bien comport\u00e9s dans un contexte de d\u00e9penses publiques et de progr\u00e8s commerciaux. Les actions canadiennes ont \u00e9galement enregistr\u00e9 des gains, aid\u00e9es par la hausse des prix de l'or, mais la faiblesse de l'\u00e9conomie - refl\u00e9t\u00e9e par un taux de ch\u00f4mage en hausse proche de 7% - justifie une allocation plus prudente au niveau national. Dans l'ensemble, l'approche de Genus reste \u00e9quilibr\u00e9e, adaptable et ax\u00e9e sur la protection et la croissance des portefeuilles des clients dans un contexte mondial en pleine \u00e9volution.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-15ef9a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default parallax_section_no qode_elementor_container_no\" data-id=\"15ef9a0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9ac7e3b\" data-id=\"9ac7e3b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Regardez notre commentaire trimestriel ci-dessus avec Mary Lou Miles, gestionnaire de portefeuille, et Justin Hahn, strat\u00e9giste macro\u00e9conomique.\u00a0<\/p>","protected":false},"author":6,"featured_media":26613,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[26],"tags":[124,125,113,109],"class_list":["post-26612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","tag-insurance","tag-investments","tag-watch-on-demand","tag-webinar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Genus Quarterly - Summer 2025 - Genus Capital Management<\/title>\n<meta name=\"description\" content=\"Watch our recent market commentary for the 2nd quarter of 2025. Our experts offer insights to events of the past quarter and share strategies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genuscap.com\/fr\/genus-quarterly-summer-2025\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genus Quarterly - Summer 2025\" \/>\n<meta property=\"og:description\" content=\"Watch our quarterly commentary above featuring Portfolio Manager Mary Lou Miles and Macro Strategist Justin Hahn.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/genuscap.com\/fr\/genus-quarterly-summer-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Genus\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/GenusCap\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-04T19:42:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-22T21:25:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/genuscap.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-04-124214.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1441\" \/>\n\t<meta property=\"og:image:height\" content=\"745\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Genus Marketing\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GenusCapMgt\" \/>\n<meta name=\"twitter:site\" content=\"@GenusCapMgt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Genus Marketing\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Genus Quarterly - \u00c9t\u00e9 2025 - Genus Capital Management","description":"Regardez notre r\u00e9cent commentaire sur le march\u00e9 pour le 2e trimestre 2025. Nos experts donnent un aper\u00e7u des \u00e9v\u00e9nements du dernier trimestre et partagent leurs strat\u00e9gies.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/genuscap.com\/fr\/genus-quarterly-summer-2025\/","og_locale":"fr_CA","og_type":"article","og_title":"Genus Quarterly - Summer 2025","og_description":"Watch our quarterly commentary above featuring Portfolio Manager Mary Lou Miles and Macro Strategist Justin Hahn.\u00a0","og_url":"https:\/\/genuscap.com\/fr\/genus-quarterly-summer-2025\/","og_site_name":"Genus","article_publisher":"https:\/\/www.facebook.com\/GenusCap","article_published_time":"2025-08-04T19:42:25+00:00","article_modified_time":"2026-04-22T21:25:21+00:00","og_image":[{"width":1441,"height":745,"url":"https:\/\/genuscap.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-04-124214.jpg","type":"image\/jpeg"}],"author":"Genus Marketing","twitter_card":"summary_large_image","twitter_creator":"@GenusCapMgt","twitter_site":"@GenusCapMgt","twitter_misc":{"Written by":"Genus Marketing","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[]}},"_links":{"self":[{"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/posts\/26612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/comments?post=26612"}],"version-history":[{"count":0,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/posts\/26612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/media\/26613"}],"wp:attachment":[{"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/media?parent=26612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/categories?post=26612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/genuscap.com\/fr\/wp-json\/wp\/v2\/tags?post=26612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}