{"id":6145,"date":"2022-10-03T08:33:00","date_gmt":"2022-10-03T06:33:00","guid":{"rendered":"https:\/\/momentum.lu\/?p=6145"},"modified":"2022-10-04T08:57:05","modified_gmt":"2022-10-04T06:57:05","slug":"flash-marches-du-03-octobre-2022","status":"publish","type":"post","link":"https:\/\/momentum.lu\/ca\/2022\/10\/03\/flash-marches-du-03-octobre-2022\/","title":{"rendered":"FLASH march\u00e9s du 03 octobre 2022"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6145\" class=\"elementor elementor-6145\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b3c0e0d elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"b3c0e0d\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\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-a49c522\" data-id=\"a49c522\" data-element_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-c2bb43a elementor-widget elementor-widget-heading\" data-id=\"c2bb43a\" data-element_type=\"widget\" data-settings=\"{&quot;motion_fx_motion_fx_scrolling&quot;:&quot;yes&quot;,&quot;motion_fx_translateY_effect&quot;:&quot;yes&quot;,&quot;motion_fx_translateY_direction&quot;:&quot;negative&quot;,&quot;motion_fx_translateY_speed&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:3,&quot;sizes&quot;:[]},&quot;motion_fx_translateY_affectedRange&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:{&quot;start&quot;:0,&quot;end&quot;:100}},&quot;motion_fx_devices&quot;:[&quot;widescreen&quot;,&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;]}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FLASH march\u00e9s du 03 octobre 2022 |<\/h2>\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-87e1686 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"87e1686\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-76dcad0\" data-id=\"76dcad0\" data-element_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-bed75e9 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"bed75e9\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/momentum.lu\/actualites\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-long-arrow-alt-left\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Actualit\u00e9s<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\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-194389e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"194389e\" data-element_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-50 elementor-top-column elementor-element elementor-element-125f282\" data-id=\"125f282\" data-element_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-1bafaa2 elementor-widget elementor-widget-text-editor\" data-id=\"1bafaa2\" data-element_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 style=\"font-weight: 400;\">Chers tous,<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Pardon pour ce d\u00e9calage li\u00e9 \u00e0 un salon de l\u2019investissement la semaine derni\u00e8re \u00e0 Lyon. Il faut en retenir le ma\u00eetre-mot sur 2022\u00a0: on nous avait demand\u00e9 d\u2019aller sur ESG et ISR, on perd tout ce qu\u2019on veut, alors qu\u2019il eut \u00e9t\u00e9 si simple d\u2019investir d\u00e9but 2022 en Thal\u00e8s (+52%\u00a0depuis le 1<sup>er<\/sup>\u00a0janvier !), Lockheed Martin (+11%), ou autres Dassault Aviation (+26%), voire Safran (-12%). ESG \/ ISR contre valeurs armement, syst\u00e8mes, et aviation, \u00e7a se discute\u00a0\u00a0!<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">En tout cas, dans ces march\u00e9s orient\u00e9s \u00e0 la baisse, il est fatiguant de subir des \u00e0-coups parfois \u00e0 l\u2019encontre des march\u00e9s. Voir, par exemple, il y a 8 jours, le rebond important des indices avec la version de la BoE, Banque Centrale d\u2019Angleterre, sur le \u00ab quoiqu&#8217;il en co\u00fbte \u00bb. Et un reflux tout aussi massif des indices dans les jours qui ont suivi.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Et au-del\u00e0 de ces soubresauts des march\u00e9s financiers, ce sont aussi les al\u00e9as ext\u00e9rieurs\u00a0 qui sont autant d\u2019\u00e9p\u00e9es de Damocl\u00e8s\u00a0: l\u2019inflation au-del\u00e0 de 10% en Europe, qui conduit \u00e0 un resserrement mon\u00e9taire tr\u00e8s agressif, qui sous-entendent une entr\u00e9e en r\u00e9cession \u00e0 venir, voire une r\u00e9cession de grande ampleur, etc etc etc.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">On notera tout de m\u00eame une (tr\u00e8s) l\u00e9g\u00e8re d\u00e9tente sur les taux d\u2019int\u00e9r\u00eats \u00e0 long terme des grands pays industrialis\u00e9s, de quelques centimes. Et pour poursuivre notre remarque de la semaine derni\u00e8re, nous constatons un accroissement des primes de risques (\u00ab spreads \u00bb) entre d\u2019une part le Bund Allemand \u00e0 10 ans, et d\u2019autre part les taux d\u2019\u00c9tat fran\u00e7ais ou italien. Les 2 graphiques ci-dessous parlent d\u2019eux-m\u00eames :<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-8737b70 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8737b70\" data-element_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-inner-column elementor-element elementor-element-d298d43\" data-id=\"d298d43\" data-element_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-d5d43f3 elementor-widget elementor-widget-image\" data-id=\"d5d43f3\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"721\" height=\"477\" src=\"https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-france.webp\" class=\"attachment-full size-full wp-image-6151\" alt=\"momentum-actualites-rendement-obligations-france\" srcset=\"https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-france.webp 721w, https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-france-300x198.webp 300w\" sizes=\"(max-width: 721px) 100vw, 721px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50eed82 elementor-widget elementor-widget-image\" data-id=\"50eed82\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"718\" height=\"478\" src=\"https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-italie.webp\" class=\"attachment-full size-full wp-image-6152\" alt=\"momentum-actualites-rendement-obligations-italie\" srcset=\"https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-italie.webp 718w, https:\/\/momentum.lu\/wp-content\/uploads\/2022\/10\/momentum-actualites-rendement-obligations-italie-300x200.webp 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d726dfe elementor-widget elementor-widget-text-editor\" data-id=\"d726dfe\" data-element_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>\u00a0<\/p><p style=\"font-weight: 400;\">On ne parle pas de la situation au UK, ultra-tendue, qui a n\u00e9cessit\u00e9 une intervention en urgence de la BoE. On a vu en m\u00eame temps\u00a0:<\/p><ul style=\"font-weight: 400;\"><li>une livre sterling tomber \u00e0 quasi parit\u00e9 avec le USD (1,0340), du jamais vu, m\u00eame depuis le plus bas de 1984<\/li><li>une envol\u00e9e des taux anglais<\/li><li>une explosion de l\u2019inflation<\/li><li>et surtout des choix \u00e9conomiques de la nouvelle Premi\u00e8re Ministre, choix tr\u00e8s mal per\u00e7us, \u00e0 tel point que le FMI ne s\u2019est pas emp\u00each\u00e9, fait rarissime, de t\u00e2cler\u2026<\/li><\/ul><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Les 7 jours pass\u00e9s restent donc tous dans le rouge, sauf, une fois de plus, l\u2019Inde, avec un kolossal +0,09% (pour une performance annuelle, \u00e0 souligner, de -1,89%). La glissade continue, ponctu\u00e9e de timides tentatives de rebond, commence \u00e0 co\u00fbter cher, entre -20% et -25% sur les principaux indices mondiaux, et -33% sur le Nasdaq.<\/p><p style=\"font-weight: 400;\">Nous pourrions penser qu\u2019\u00e0 ces niveaux de baisse depuis 10 mois, il n\u2019est pas certain que l\u2019on puisse encore chuter de 20 ou 30%. On peut aussi penser que les sc\u00e9narios de r\u00e9cession sont d\u00e9j\u00e0 pris en compte par les investisseurs, jusques et y compris la hausse des taux de la BCE qui devrait atteindre, en plusieurs fois d&#8217;ici \u00e0 la fin de l\u2019ann\u00e9e, 75 points de base. Le pire n\u2019est jamais certain\u2026<\/p><p style=\"font-weight: 400;\">Il reste n\u00e9anmoins quelques modestes points \u00e0 int\u00e9grer dans le raisonnement, comme la mont\u00e9e du p\u00e9trole, en cours, apr\u00e8s le refus de l\u2019OPEP de desserrer l\u2019\u00e9tau\u00a0; ou les politiques publiques de finances et l\u2019endettement des \u00e9tats, qui ne cesse de s\u2019aggraver, avec en plus des taux qui remontent. L\u2019Allemagne a choisi de faire cavalier seul contre l\u2019Europe pour mettre 200 milliards sur la table pour contrer les sujets de l\u2019augmentation des prix de l\u2019\u00e9nergie\u00a0; en France, le bouclier tarifaire \u00e9nerg\u00e9tique pour les particuliers devrait co\u00fbter, en 2023, quelque 50 milliards d\u2019euros, etc etc\u2026<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Vous conviendrez que ce flux d\u2019annonces est assez anxiog\u00e8ne, au-del\u00e0 d\u2019\u00eatre fatiguant\u2026 Nous n\u2019en voyons aujourd\u2019hui qu\u2019un motif de satisfaction, que vous connaissez d\u00e9j\u00e0\u00a0: notre biais USD dans les portefeuilles, qui nous permet de limiter les d\u00e9g\u00e2ts.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Entre autres facteurs de d\u00e9stabilisation, l\u2019attention \/ la tension se porte aujourd\u2019hui sur la banque malade de l\u2019Europe, le Cr\u00e9dit Suisse. Son gigantisme et les multiples casseroles de ces derni\u00e8res ann\u00e9es l\u2019ont, semble-t-il, largement fragilis\u00e9e. Le nouveau CEO nomm\u00e9 ne cache pas son intention de r\u00e9duire la voilure, que ce soit aux Etats-Unis ou dans des secteurs d\u2019activit\u00e9s. R\u00e9ponse \u00e0 la fin du mois avec la pr\u00e9sentation du plan strat\u00e9gique. En attendant, la cour de la banque chute de 60% depuis le d\u00e9but de l\u2019ann\u00e9e, et prend encore -8% aujourd\u2019hui apr\u00e8s l\u2019article du FT sorti hier soir. Int\u00e9ressant de voir que le CDS 5 ans sur Cr\u00e9dit Suisse est pass\u00e9 de 50 \u00e0 250 points de base en quelques semaines, ce qui r\u00e9v\u00e8le la tension.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">\u00c0 votre disposition pour en discuter.<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Bien \u00e0 vous,<\/p><p style=\"font-weight: 400;\">\u00a0<\/p><p style=\"font-weight: 400;\">Pierre<\/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\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-39e1646\" data-id=\"39e1646\" data-element_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-a0c9850 elementor-widget elementor-widget-image\" data-id=\"a0c9850\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.linkedin.com\/posts\/momentum-asset-management_flash-march%C3%A9s-du-3-octobre-2022-activity-6982727000834646017-c3T9?utm_source=share&#038;utm_medium=member_desktop\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"480\" src=\"https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003.png\" class=\"attachment-large size-large wp-image-1983\" alt=\"logo-linkedin\" srcset=\"https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003.png 1000w, https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003-300x180.png 300w, https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003-768x461.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca30ec4 elementor-widget elementor-widget-shortcode\" data-id=\"ca30ec4\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><iframe src=\"https:\/\/www.linkedin.com\/embed\/feed\/update\/urn:li:ugcPost:6982726999924428800\" height=\"533\" width=\"504\" frameborder=\"0\" allowfullscreen=\"\" title=\"Post int\u00e9gr\u00e9\"><\/iframe><\/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-49d4173 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"49d4173\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.linkedin.com\/posts\/momentum-asset-management_flash-march%C3%A9s-du-3-octobre-2022-activity-6982727000834646017-c3T9?utm_source=share&#038;utm_medium=member_desktop\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Voir l'article<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\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-370d83b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"370d83b\" data-element_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-3a0793a\" data-id=\"3a0793a\" data-element_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-b605457 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"b605457\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\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-60b733d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"60b733d\" data-element_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-f6f1fb5\" data-id=\"f6f1fb5\" data-element_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-919457f elementor-widget elementor-widget-heading\" data-id=\"919457f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Partager<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eed8b3e elementor-share-buttons--view-icon elementor-share-buttons--skin-gradient elementor-share-buttons--shape-square elementor-grid-0 elementor-share-buttons--color-official elementor-widget elementor-widget-share-buttons\" data-id=\"eed8b3e\" data-element_type=\"widget\" data-widget_type=\"share-buttons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_facebook\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur facebook\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-facebook\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_twitter\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur twitter\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-twitter\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_linkedin\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur linkedin\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-linkedin\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\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-0c5ee64 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0c5ee64\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-50 elementor-top-column elementor-element elementor-element-90099ab elementor-invisible\" data-id=\"90099ab\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;zoomIn&quot;}\">\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-1bcf250 elementor-widget elementor-widget-text-editor\" data-id=\"1bcf250\" data-element_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>Cette note vous est envoy\u00e9e \u00e0 titre gratuit.&nbsp;<\/p>\n<p>Si vous souhaitez recevoir nos \u00ab points hebdomadaires \u00bb par mail, merci de nous l\u2019indiquer :<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9910ac2 pp-icon-list-traditional elementor-list-item-link-inline pp-icon-left elementor-widget elementor-widget-pp-icon-list\" data-id=\"9910ac2\" data-element_type=\"widget\" data-widget_type=\"pp-icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"pp-list-container\">\n\t\t\t<ul class=\"pp-list-items\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class=\"pp-icon-list-item elementor-repeater-item-9ec806f\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:contact@momentum.lu\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"pp-icon-wrapper\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"pp-icon-list-icon pp-icon \">\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-envelope\"><\/i><\/span>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"pp-icon-list-text\">\n\t\t\t\t\t\t\t\tcontact@momentum.lu\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t<\/div>\n\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<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-d45d84a\" data-id=\"d45d84a\" data-element_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-364762f elementor-widget elementor-widget-heading\" data-id=\"364762f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Informations importantes sur la note : <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08520dd elementor-widget elementor-widget-pp-modal-popup\" data-id=\"08520dd\" data-element_type=\"widget\" data-settings=\"{&quot;content_close&quot;:&quot;yes&quot;,&quot;layout_type&quot;:&quot;standard&quot;,&quot;trigger&quot;:&quot;on-click&quot;,&quot;prevent_scroll&quot;:&quot;yes&quot;,&quot;close_button&quot;:&quot;yes&quot;,&quot;esc_exit&quot;:&quot;yes&quot;,&quot;click_exit&quot;:&quot;yes&quot;,&quot;popup_animation_in&quot;:&quot;mfp-zoom-in&quot;,&quot;overlay_switch&quot;:&quot;yes&quot;,&quot;close_button_position&quot;:&quot;win-top-right&quot;}\" data-widget_type=\"pp-modal-popup.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"pp-modal-popup-wrap\" id=\"pp-modal-popup-wrap-08520dd\">\n\t\t\t<div class=\"pp-modal-popup\" data-src=\"#pp-modal-popup-window-08520dd\" data-popup-settings=\"{&quot;popupType&quot;:&quot;inline&quot;,&quot;src&quot;:&quot;#pp-modal-popup-window-08520dd&quot;,&quot;triggerElement&quot;:&quot;.pp-modal-popup-link-08520dd&quot;}\">\n\t\t\t\t<div class=\"pp-modal-popup-button-wrap elementor-align-center\"><span class=\"pp-modal-popup-button pp-modal-popup-link pp-modal-popup-link-08520dd elementor-button elementor-size-sm\"><span >vOIR INFOS<\/span>\t\t\t<span class=\"pp-button-icon pp-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-info-circle\"><\/i>\t\t\t<\/span>\n\t\t\t<\/span><\/div>\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"pp-modal-popup-window pp-modal-popup-window-08520dd\" id=\"pp-modal-popup-window-08520dd\">\n\t\t\t\t<div class=\"pp-popup-content\" id=\"pp-popup-content\"><p><em>Les informations et donn\u00e9es indiqu\u00e9es, les opinions, avis, et remarques exprim\u00e9s sur ce site sont propos\u00e9s aux personnes qui le consultent \u00e0 titre d'information uniquement.\u00a0 <\/em><\/p>\n<p><em>Ils sont repris sans aucune garantie - qu'elle soit de nature explicite ou implicite - ni engagement quant \u00e0 leur caract\u00e8re exhaustif, leur pr\u00e9cision ou leur actualisation.\u00a0 <\/em><\/p>\n<p><em>Ils ne constituent pas une offre, une d\u00e9marche de commercialisation ou de recommandation, une sollicitation \u00e0 acheter, vendre, contracter ou souscrire \u00e0 un service ou produit financier quel qu'il soit.\u00a0 <\/em><\/p>\n<p><em>Ils ne constituent pas davantage un avis ou conseil juridique, financier, comptable ou autre.\u00a0 Ils ne se substituent en aucun cas aux consid\u00e9rations personnelles du visiteur, \u00e0 ses connaissances techniques, ou encore, \u00e0 ses comp\u00e9tences professionnelles. <\/em><\/p>\n<p><em>Les informations et donn\u00e9es doivent donc \u00eatre utilis\u00e9es avec les conseils d'un professionnel <\/em><\/p>\n<p><em>qualifi\u00e9\u00a0\u00a0 -\u00a0\u00a0 Voir aussi sur notre site <a href=\"https:\/\/www.momentum.lu\/e-mail-disclaimer\/\"><u>https:\/\/www.momentum.lu\/e-mail-disclaimer\/<\/u><\/a><\/em><\/p>\n<\/div>\t\t<\/div>\n\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<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FLASH march\u00e9s du 03 octobre 2022 | Actualit\u00e9s Chers tous, Pardon pour ce d\u00e9calage li\u00e9 \u00e0 un salon de l\u2019investissement la semaine derni\u00e8re \u00e0 Lyon. Il faut en retenir le ma\u00eetre-mot sur 2022&nbsp;: on nous avait demand\u00e9 d\u2019aller sur ESG et ISR, on perd tout ce qu\u2019on veut, alors qu\u2019il eut \u00e9t\u00e9 si simple d\u2019investir [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6148,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"FLASH march\u00e9s du 03 octobre 2022 - Momentum","_seopress_titles_desc":"L&#039;inflation de 10% en Europe conduit \u00e0 un resserrement mon\u00e9taire agressif, qui sous-entend une entr\u00e9e en r\u00e9cession \u00e0 venir, voire une r\u00e9cession.","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-6145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-12"],"_links":{"self":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/comments?post=6145"}],"version-history":[{"count":25,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6145\/revisions"}],"predecessor-version":[{"id":6176,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6145\/revisions\/6176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media\/6148"}],"wp:attachment":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media?parent=6145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/categories?post=6145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/tags?post=6145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}