{"id":6653,"date":"2023-06-14T09:08:47","date_gmt":"2023-06-14T07:08:47","guid":{"rendered":"https:\/\/momentum.lu\/?p=6653"},"modified":"2023-06-26T09:28:33","modified_gmt":"2023-06-26T07:28:33","slug":"flash-marches-du-14-juin-2023","status":"publish","type":"post","link":"https:\/\/momentum.lu\/ca\/2023\/06\/14\/flash-marches-du-14-juin-2023\/","title":{"rendered":"FLASH march\u00e9s du 14 juin 2023"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6653\" class=\"elementor elementor-6653\" 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\" id=\"home-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 14  juin 2023 |<\/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;\">Nous lisons partout\u00a0: \u00ab\u00a0la narration est plus forte que les fondamentaux\u00a0\u00bb. Autorisez-nous l\u2019utilisation du \u00ab\u00a0je\u00a0\u00bb pour une fois, mais vous me connaissez Normand du Cotentin, avec ce bon vieux \u00ab\u00a0p\u2019t\u00eat ben qu\u2019oui, p\u2019t\u00eat ben qu\u2019non\u00a0\u00bb\u2026 Alors \u00ab\u00a0moi je dis\u00a0\u00bb\u00a0:<\/p><ul><li style=\"font-weight: 400;\">L\u2019inflation ralentit, de mani\u00e8re \u00ab marqu\u00e9 et assez certaine \u00bb<\/li><li style=\"font-weight: 400;\">La FED a minor\u00e9 son discours sur la poursuite de la hausse ou la mod\u00e9ration<\/li><li style=\"font-weight: 400;\">Rien \u00e0 attendre de la BCE, encore 2 hausses de 25 centimes et \u00e7a va se calmer<\/li><li style=\"font-weight: 400;\">L\u2019Allemagne \u00ab en r\u00e9cession \u00bb. Les crit\u00e8res de la r\u00e9cession sont 2 trimestres cons\u00e9cutifs de PIB dans le rouge. Dans le cas de l\u2019Allemagne, c\u2019est gravissimo-gravissime : -0,10% au T4 2022, et pareil \u00e0 T1 1023. Bon bref, \u00ab on s\u2019en fiche, c\u2019est pas d\u2019la r\u00e9cession \u00bb<\/li><li style=\"font-weight: 400;\">Les taux des dettes d\u2019Etat se stabilisent et continuent, en Europe, de varier dans un range tr\u00e8s faiible, entre 2,87% et 2,94% pour l\u2019OAT fran\u00e7aise \u00e0 10 ans. M\u00eame la dette d\u2019Etat de l\u2019Italie, malgr\u00e9 le d\u00e9c\u00e8s de Silvio Berlusconi a qui tout le monde rend hommage (pour ses Bungo Bungo ?!)), reste tr\u00e8s sage.<\/li><\/ul><p style=\"font-weight: 400;\">Alors boursi\u00e8rement parlant, nous sommes dans l\u2019id\u00e9e que pour une fois, l\u2019\u00e9t\u00e9 devrait se passer de mani\u00e8re relativement tranquille, mais nous avons d\u2019ores et d\u00e9j\u00e0 pr\u00e9vu, d\u00e8s le 1<sup>er<\/sup>\u00a0septembre, d\u2019\u00e9cr\u00eater les plus-values et placer en d\u00e9p\u00f4t \u00e0 terme pour all\u00e9ger nos positions au vu des performances des portefeuilles depuis le d\u00e9but de l\u2019ann\u00e9e. Vous l\u2019aurez compris,<em>\u00a0toutes choses \u00e9gales par ailleurs, sans cygne noir qui viendrait tout d\u00e9r\u00e9gler<\/em>. Un CAC40 \u00e0 7300 points \u00ab\u00a0malgr\u00e9 tout ce qui se passe\u00a0? Un S&amp;P500 en hausse de 13% depuis le d\u00e9but de l\u2019ann\u00e9e, avec une grosse acc\u00e9l\u00e9ration depuis 10 jours, qui l\u2019e\u00fbt cru\u00a0?<\/p><p style=\"font-weight: 400;\">Un commentaire sur le Nasdaq, et par extension sur le S&amp;P500, pour lequel je remercie Christian Hovine de son commentaire\u00a0: la lecture des indices DOIT ABSOLUMENT nous para\u00eetre comme biais\u00e9e\u00a0: les 7 plus grosses capitalisations repr\u00e9sentent d\u00e9sormais plus de 30% de l\u2019indice (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, Tesla), contre 22% au d\u00e9but le l\u2019ann\u00e9e. Une telle concentration, y compris dans les performances, ne saurait \u00eatre consid\u00e9r\u00e9e comme repr\u00e9sentative d\u2019une tendance g\u00e9n\u00e9rale, ces 7 valeurs expliquant \u00e0 elles-seules la performance du Nasdaq depuis le d\u00e9but de l\u2019ann\u00e9e.<\/p><p style=\"font-weight: 400;\">Malgr\u00e9 tout, nous continuons de penser que la performance globale, dans les prochaines semaines, se fera sur le Nasdaq, et \u00e0 la marge sur le S&amp;P500. Achetez donc le QQQ, l\u2019ETF indiciel sur le Nasdaq, et portez-le jusqu\u2019en septembre, c\u2019est en tout cas le pari que Momentum fait.\u00a0<em>Bis repetita placent<\/em>, nous verrons d\u00e9but septembre comment all\u00e9ger les portefeuilles \/ les r\u00e9\u00e9quilibrer \/ placer en d\u00e9p\u00f4t \u00e0 terme vis-\u00e0-vis d\u2019une correction qui nous para\u00eet in\u00e9vitable et in\u00e9luctable au vu de la performance actuelle des march\u00e9s.<\/p><p style=\"font-weight: 400;\">Et comme discut\u00e9 la semaine derni\u00e8re, continuons de rester \u00e0 l\u2019\u00e9cart de la Chine, qui propose de baisser ses taux court terme pour relancer l\u2019activit\u00e9. Dans l\u2019imm\u00e9diat, nous passons d\u2019une \u00e9conomie exportatrice \u00e0 une \u00e9conomie domestique. Il est\u00a0<em>a priori<\/em>\u00a0fini le temps ou \u00ab\u00a0<em>les enfants de Chine produisent pour les ch\u00f4meurs d\u2019Europe<\/em>\u00a0\u00bb (article du Figaro d\u2019il y a 10 jours), et nous attendons de voir la suite.<\/p><p style=\"font-weight: 400;\">Les taux long terme ne montent plus non plus. C\u2019est m\u00eame tr\u00e8s \u00e9tonnant de constater que depuis 10 jours que Bruno Lemaire a \u00ab\u00a0re-n\u00e9goci\u00e9\u00a0\u00bb la non-d\u00e9gradation de la note de la France par Standard &amp; Poor\u2019s, le spread \/ \u00e9cart de la dette fran\u00e7aise avec l\u2019Allemagne s\u2019est consid\u00e9rablement r\u00e9duit\u00a0: historiquement entre 55 et 60 points de base, nous sommes descendus ces derniers jours autour de 50 poinrs\u2026 Une fois de plus, laissons-nous porter, mais gardons un \u0153il tr\u00e8s attentif en septembre prochain\u2026<\/p><p style=\"font-weight: 400;\">D\u2019autant plus que si nous suivons un indice dont nous vous avons d\u00e9j\u00e0, \u00e0 plusieurs reprises, parl\u00e9 par le pass\u00e9, le \u00ab\u00a0Fear &amp; Greed\u00a0\u00bb de CNN, nous sommes \u00e0 80, un niveau sur lequel \u00ab\u00a0nous devrions commencer \u00e0 songer \u00e0 all\u00e9ger les positions\u00a0\u00bb (voir\u00a0<a href=\"https:\/\/edition.cnn.com\/markets\/fear-and-greed\" target=\"_blank\" rel=\"noopener\">https:\/\/edition.cnn.com<\/a>)<\/p><p style=\"font-weight: 400;\">Les mati\u00e8res premi\u00e8res non plus, ne montent pas, cf la baisse r\u00e9cente du p\u00e9trole (qui ne se r\u00e9percute pas sur les prix \u00e0 la pompe en France, mais nous en avons d\u00e9j\u00e0 parl\u00e9\u2026), et encore plus marqu\u00e9e ces derniers jours, avec une offre pl\u00e9thorique qui ne s\u2019accommode pas des d\u00e9clarations de l\u2019OPEP+ qui souhaiterait contr\u00f4ler les prix en r\u00e9duisant la production. Le WTI est pass\u00e9 en-dessous de 70 USD, \u00ab\u00a0et \u00e7a continue, encore et encore\u00a0\u00bb\u00a0<em>(bis repetita placent<\/em>\u00a0: \u00ab\u00a0et c\u2019est quand que les prix y baissent \u00e0 la pompe en France\u00a0\u00bb\u00a0?!)<\/p><p style=\"font-weight: 400;\">Vous pouvez aussi retrouver l\u2019historique de nos billets sur notre page LinkedIn\u00a0<a href=\"https:\/\/www.linkedin.com\/company\/momentum-asset-management\/\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.linkedin.com\/company\/18719514\/admin\/&amp;source=gmail&amp;ust=1675516022967000&amp;usg=AOvVaw2mSviAk-Hsb_rZSh_KF7jF\">https:\/\/www.linkedin.com\/<\/a>.<\/p><p style=\"font-weight: 400;\">A votre disposition pour en discuter.<\/p><p style=\"font-weight: 400;\">Bonne semaine<\/p><p style=\"font-weight: 400;\">Bien \u00e0 vous,<\/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<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-14-juin-2023-activity-7074442065996042241-EXiv?utm_source=share&#038;utm_medium=member_desktop\" target=\"_blank\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" 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-7294\" alt=\"\" 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-ad70612 elementor-widget elementor-widget-shortcode\" data-id=\"ad70612\" 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:7074442065257881607\" height=\"650\" 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-14-juin-2023-activity-7074442065996042241-EXiv?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<div class=\"elementor-element elementor-element-8291add elementor-post-navigation-borders-yes elementor-widget elementor-widget-post-navigation\" data-id=\"8291add\" data-element_type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation\" role=\"navigation\" aria-label=\"Post Navigation\">\n\t\t\t<div class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/momentum.lu\/ca\/2023\/06\/07\/flash-marches-du-07-juin-2023\/\" rel=\"prev\"><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-prev\"><i aria-hidden=\"true\" class=\"fas fa-angle-left\"><\/i><span class=\"elementor-screen-only\">Prev<\/span><\/span><span class=\"elementor-post-navigation__link__prev\"><span class=\"post-navigation__prev--label\">Pr\u00e9c\u00e9dent<\/span><span class=\"post-navigation__prev--title\">FLASH march\u00e9s du 07 juin 2023<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation__separator-wrapper\">\n\t\t\t\t\t<div class=\"elementor-post-navigation__separator\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"elementor-post-navigation__next elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/momentum.lu\/ca\/2023\/06\/23\/flash-marches-du-23-juin-2023\/\" rel=\"next\"><span class=\"elementor-post-navigation__link__next\"><span class=\"post-navigation__next--label\">Suivant<\/span><span class=\"post-navigation__next--title\">FLASH march\u00e9s du 23 juin 2023<\/span><\/span><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-next\"><i aria-hidden=\"true\" class=\"fas fa-angle-right\"><\/i><span class=\"elementor-screen-only\">Next<\/span><\/span><\/a>\t\t\t<\/div>\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=\"Compartir en 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=\"Compartir en 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=\"Compartir en 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 14 juin 2023 | Actualit\u00e9s Chers tous, Nous lisons partout\u00a0: \u00ab\u00a0la narration est plus forte que les fondamentaux\u00a0\u00bb. Autorisez-nous l\u2019utilisation du \u00ab\u00a0je\u00a0\u00bb pour une fois, mais vous me connaissez Normand du Cotentin, avec ce bon vieux \u00ab\u00a0p\u2019t\u00eat ben qu\u2019oui, p\u2019t\u00eat ben qu\u2019non\u00a0\u00bb\u2026 Alors \u00ab\u00a0moi je dis\u00a0\u00bb\u00a0: L\u2019inflation ralentit, de mani\u00e8re \u00ab marqu\u00e9 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6656,"comment_status":"open","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"FLASH march\u00e9s du 14 juin 2023 - Momentum","_seopress_titles_desc":"\u00c9cr\u00eater les plus-values et placer en d\u00e9p\u00f4t \u00e0 terme pour all\u00e9ger nos positions au vu des performances des portefeuilles depuis le d\u00e9but de l\u2019ann\u00e9e.","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-6653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-18"],"_links":{"self":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6653","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=6653"}],"version-history":[{"count":15,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6653\/revisions"}],"predecessor-version":[{"id":6680,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6653\/revisions\/6680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media\/6656"}],"wp:attachment":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media?parent=6653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/categories?post=6653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/tags?post=6653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}