We believe Credit Agricole S.A. can earn a midcycle return on tangible equity of around 9%, slightly below of our 10% cost of equity assumption for Credit Agricole S.A. and below its 12% 2025 target.

Grace Kim's dramatic playoff eagle wins major at Evian, Chris Gotterup stuns Rory McIlroy in Scotland, and William Mouw fires 61 for breakthrough victory in wild weekend of golf.