Mirovα, Creating Sustainable Value - February 2026
Published on 17/02/2026
In a nutshell
Key events – january 2026
- United States: Uncle Sam demonstrating geopolitical interventionism on all fronts: Venezuela, Greenland, Iran.
- Markets: diversification in trade away from US tech accelerated at the start of the year.
- Fed: the spectre of the loss of independence is receding with the appointment of Kevin Warsh as the next governor.
5,600 $
Record price for an ounce of gold, before falling back.
Source: Bloomberg, January 2026.
Macro Outlook
- United States: macro figures and corporate earnings remain solid.
- Japan: the Prime Minister manoeuvres to support the economy, with a chance of success.
- European Union: clearing skies in Germany raising hopes.
The Long View
Greenland: Europe stays the course
- Revenge is a TACO best served cold
- Europe has resources
- Autonomy at all costs, little by little
The information given reflects Mirova's opinion and the situation at the date of this document and is subject to change without notice. All securities mentioned in this document are for illustrative purposes only and do not constitute investment advice, a recommendation or a solicitation to buy or sell.
Source: Bloomberg, January 2026.
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