{"id":6709,"date":"2023-08-29T10:01:16","date_gmt":"2023-08-29T08:01:16","guid":{"rendered":"https:\/\/momentum.lu\/?p=6709"},"modified":"2023-08-30T10:13:07","modified_gmt":"2023-08-30T08:13:07","slug":"flash-marches-du-29-aout-2023","status":"publish","type":"post","link":"https:\/\/momentum.lu\/ca\/2023\/08\/29\/flash-marches-du-29-aout-2023\/","title":{"rendered":"FLASH march\u00e9s du 29 ao\u00fbt 2023"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6709\" class=\"elementor elementor-6709\" 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 29 ao\u00fbt 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 class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"6pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-doc-id=\"3314998000000398005\" data-doc-type=\"writer\">Chers tous,<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"6pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Nous esp\u00e9rons que vous avez pass\u00e9 un bon \u00e9t\u00e9 et que vous \u00eates plein de courage pour une reprise qui s\u2019annonce encore et toujours mouvement\u00e9e.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Comme nous avions pu en faire la remarque l\u2019ann\u00e9e derni\u00e8re \u00e0 pareille \u00e9poque, il est int\u00e9ressant de reprendre ce point \u00e0 la rentr\u00e9e, et de comparer la situation avec celle du 30 juin.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><ol data-list-id=\"68367537\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.5in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"68367537\" data-list-info=\"{&quot;id&quot;:&quot;68367537&quot;,&quot;l&quot;:0}\">En terme de march\u00e9s, quand vous reprenez le tableau r\u00e9capitulatif des performances en annexe, \u00ab il ne s\u2019est quasiment rien pass\u00e9 \u00bb, ou tout du moins la nervosit\u00e9 et la s\u00e9r\u00e9nit\u00e9 se sont annihil\u00e9es :<\/p><\/li><\/ol><ul data-list-id=\"98999632\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:7,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li style=\"list-style-type: none;\"><ul><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"1in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"98999632\" data-list-info=\"{&quot;id&quot;:&quot;98999632&quot;,&quot;l&quot;:1}\">Les indices occidentaux \u00e0 +1% \/ -1%, tr\u00e8s peu de variation sur le front des change, l\u2019indice de la volatilit\u00e9 VIX qui reste tr\u00e8s bas \u00e0 15, etc\u2026<\/p><\/li><\/ul><\/li><\/ul><ul data-list-id=\"98999632\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:7,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li style=\"list-style-type: none;\"><ul><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"1in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"98999632\" data-list-info=\"{&quot;id&quot;:&quot;98999632&quot;,&quot;l&quot;:1}\">Seuls \u00e9ventuellement 2 points : +15% pour le p\u00e9trole (pour m\u00e9moire, on n\u2019est jamais qu\u2019\u00e0 79 USD le baril WTI, contre 122 en juin 2022\u2026), et -14% pour le Bitcoin<\/p><\/li><\/ul><\/li><\/ul><ul data-list-id=\"98999632\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:7,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li style=\"list-style-type: none;\"><ul><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"1in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"98999632\" data-list-info=\"{&quot;id&quot;:&quot;98999632&quot;,&quot;l&quot;:1}\">Un \u00e9l\u00e9ment \u00e0 surveiller : la poursuite de la remont\u00e9e des taux \u00e0 long terme de part et d\u2019autre de l\u2019Atlantique ; nous y revenons dans le 3\u00e8me point ci-dessous.<\/p><\/li><\/ul><\/li><\/ul><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"10.5pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><ol start=\"2\" data-list-id=\"68071701\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:2,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.5in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"68071701\" data-list-info=\"{&quot;id&quot;:&quot;68071701&quot;,&quot;l&quot;:0}\">En terme de news flow, ce n\u2019est pas la m\u00eame musique parce qu\u2019il s\u2019est pass\u00e9 un certain nombre de choses qui ne sont pas n\u00e9cessairement de nature \u00e0 rassurer les march\u00e9s pour les mois qui viennent. Nous retenons :<\/p><\/li><\/ol><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0En premier lieu, la premi\u00e8re nouvelle de l\u2019\u00e9t\u00e9, la d\u00e9gradation par Fitch de la note de la dette des Etats-Unis, qui passe \u00e0 AA+ \/ perspective stable. Nous rappelons que Standard &amp; Poor\u2019s avait fait pareil en 2011. On a donc eu des cris d\u2019orfraie et d\u2019indignation des politiques am\u00e9ricains (cf article joint), mais, somme toute, rien que de tr\u00e8s normal quand on voit que sur cette p\u00e9riode de 12 ans, la dette am\u00e9ricaine a \u00e9t\u00e9 multipli\u00e9e par 2,6,\u00a0grosso modo de 12 000 \u00e0 32 000 milliards de USD. Le tout sans inflation, c\u2019est-\u00e0-dire que le poids est toujours aussi important.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Plus ennuyeux et pr\u00e9occupant est l\u2019enlisement de la Chine. Le Politburo a eu beau baisser les taux par la Banque Centrale (pardon, lire \u00ab la Banque Centrale a baiss\u00e9 les taux \u00bb), mais dans une amplitude si faible que les march\u00e9s ont \u00e9t\u00e9 tr\u00e8s d\u00e9sagr\u00e9ablement surpris ; l\u2019\u00e9conomie chinoise ne parvient pas \u00e0 red\u00e9marrer, notamment \u00e0 cause de la crise immobili\u00e8re (cf point suivant), d\u2019une demande int\u00e9rieure au ralenti o\u00f9 les acteurs se mettent \u00e0 \u00e9pargner, et des exportations qui ne repartent pas. Il n\u2019est d\u2019ailleurs qu\u2019\u00e0 voir l\u2019indice boursier MSCI China qui reste scotch\u00e9 en-dessous de 60, sans aucune anticipation de red\u00e9marrage. Comme mentionn\u00e9 en juin dernier, nous avons choisi de rest\u00e9 \u00e0 l\u2019\u00e9cart de cette zone (de turbulence !).<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Ajout\u00e9 \u00e0 cela, les \u00e9pisodes des promoteurs et rois de l\u2019immobilier chinois qui n\u2019en finissent pas de boire le calice jusqu\u2019\u00e0 la lie : Evergrande s\u2019est mis en Chapter 11 aux Etats-Unis, et Country Garden, avec une dette de plus de 150 milliards de USD, a alert\u00e9 sur sa difficult\u00e9 \u00e0 rembourser ses \u00e9ch\u00e9ances, pour \u00eatre imm\u00e9diatement retir\u00e9 de la cote de Hong-Kong. On commence \u00e0 voir fleurir les articles de presse mentionnant les banques \/ investissements occidentaux expos\u00e9s \u00e0 ces promoteurs chinois Fidelity, BlackRock, etc&#8230;<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"10.5pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><ol start=\"3\" data-list-id=\"75636474\" data-list-format=\"{&quot;level0&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:3,&quot;c&quot;:&quot;\\u0000.&quot;},&quot;level1&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0001.&quot;},&quot;level2&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0002.&quot;},&quot;level3&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0003.&quot;},&quot;level4&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0004.&quot;},&quot;level5&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0005.&quot;},&quot;level6&quot;:{&quot;type&quot;:0,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0006.&quot;},&quot;level7&quot;:{&quot;type&quot;:4,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\u0007.&quot;},&quot;level8&quot;:{&quot;type&quot;:2,&quot;startsWith&quot;:1,&quot;c&quot;:&quot;\\b.&quot;}}\" data-spl-bullet-format=\"{}\"><li><p class=\"zw-list zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.5in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\" data-list-id=\"75636474\" data-list-info=\"{&quot;id&quot;:&quot;75636474&quot;,&quot;l&quot;:0}\">En cours \/ \u00e0 venir :<\/p><\/li><\/ol><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0La r\u00e9union du trou du fils de Jacques, Jackson Hole, ne permet pas de d\u00e9gager l\u2019avenir pour la rentr\u00e9e. Bien au contraire, les Banques Centrales se disent toujours pr\u00e9occup\u00e9es par les risques de persistance de l\u2019inflation, et ont dont choisi le message de fermet\u00e9 ; le pr\u00e9sident de la FED s\u2019est d\u2019ailleurs d\u00e9clar\u00e9 pr\u00eat \u00e0 continuer la hausse des taux si n\u00e9cessaire.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Li\u00e9 \u00e0 cela, toute hausse des taux \u00e0 court terme s\u2019est traduit par une hausse des taux \u00e0 long terme : le TBond am\u00e9ricain \u00e0 10 ans a pris plus de 30 centimes, et vaut aujourd\u2019hui 4,17%, ce qui constitue un plus haut de 16 ans. L\u2019OAT fran\u00e7aise r\u00e9siste mieux, \u00e0 3,06%, en hausse de 15 points de base, et ce sans aucune tension entre dettes intra-communaut\u00e9 europ\u00e9enne.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0L\u2019immobilier en g\u00e9n\u00e9ral et en France en particulier : en g\u00e9n\u00e9ral, les pays se retrouve confront\u00e9s \u00e0 des baisse de prix, li\u00e9s \u00e0 l\u2019envol\u00e9e des Taux. On parle d\u2019un taux moyen de financement au-dessus de 7% aux Etats-Unis.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0En France, c\u2019est toute la fili\u00e8re qui semble \u00eatre fortement touch\u00e9e : baisse dramatique des mises en chantier et des r\u00e9servations de logements neufs, hausse importante des taux qui r\u00e9duit\u00a0de facto la capacit\u00e9 des m\u00e9nages \u00e0 emprunter ; sans compter l\u2019impact d\u2019une r\u00e9glementation de plus en plus contraignante sur le taux d\u2019usure, les diagnostics \u00e9nerg\u00e9tiques, etc\u2026, qui peuvent d\u00e9courager.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-left=\"0.74in\" data-text-indent=\"-0.25in\" data-margin-bottom=\"0pt\" data-margin-top=\"10.5pt\" data-hd-info=\"0\" data-line-height=\"1.2\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Autres petites sonorit\u00e9s : la dette li\u00e9e aux cartes bancaires aux Etats-Unis, sujet qui ressort \u00e9pisodiquement mais qui m\u00e9rite d\u2019\u00eatre suivi. Nous vous mettons en annexe l\u2019article des Echos du 17 ao\u00fbt dernier. Cela \u00e0 relier avec Moody\u2019s et Standard&amp;Poor\u2019s qui ont abaiss\u00e9 durant le mois d\u2019ao\u00fbt les notes de plusieurs banques r\u00e9gionales am\u00e9ricaines : en plus de la hausse des taux proprement dite, ces banque se prennent dont en plus une hausse de leur spread de cr\u00e9dit.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Le coup de gueule de la rentr\u00e9e : on s\u2019\u00e9tonne de voir le prix \u00e0 la pompe toujours aussi \u00e9lev\u00e9 en France, apr\u00e8s l\u2019accalmie et malgr\u00e9 le rebond de ces derniers jours. Disons que \u00e7a permet de reconstituer les marges, et pour l\u2019Etat fran\u00e7ais de se refaire un peu la cerise avec la TIPP ! La palme des profiteurs de guerre revient \u00e0 la station BP de l\u2019aire de la Fontaine Colette sur l\u2019A10. Quand toutes les autres stations autorouti\u00e8res affichent 2,10, on est ici \u00e0 2,45 euros le litre.. Oui, \u00e7a sent le v\u00e9cu !<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">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 class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Bonne reprise \u00e0 vous, et \u00e0 votre disposition pour en discuter.<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Bien \u00e0 vous,<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">\u00a0<\/p><p class=\"zw-paragraph heading0\" data-header=\"0\" data-textformat=\"{&quot;size&quot;:&quot;10.50&quot;,&quot;fgc&quot;:&quot;rgb(0, 0, 0)&quot;,&quot;type&quot;:&quot;text&quot;}\" data-margin-bottom=\"0pt\" data-hd-info=\"0\" data-line-height=\"1.2\">Pierre<\/p><p class=\"zw-paragraph\" data-margin-bottom=\"12pt\" data-line-height=\"1.2\"><span class=\"EOP\">\u00a0<\/span><\/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-29-ao%C3%BBt-2023-activity-7102302215670804480-xRp6?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-7293\" 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:7102302215033282560\" height=\"680\" 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-29-ao%C3%BBt-2023-activity-7102302215670804480-xRp6?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\" 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class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/momentum.lu\/ca\/2023\/07\/10\/flash-marches-du-10-juillet-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 10 juillet 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\/09\/15\/flash-marches-du-09-septembre-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 09 septembre 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=\"Compartici\u00f3 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=\"Compartici\u00f3 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=\"Compartici\u00f3 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 29 ao\u00fbt 2023 | Actualit\u00e9s Chers tous, Nous esp\u00e9rons que vous avez pass\u00e9 un bon \u00e9t\u00e9 et que vous \u00eates plein de courage pour une reprise qui s\u2019annonce encore et toujours mouvement\u00e9e. Comme nous avions pu en faire la remarque l\u2019ann\u00e9e derni\u00e8re \u00e0 pareille \u00e9poque, il est int\u00e9ressant de reprendre ce point [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6719,"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 29 ao\u00fbt 2023 - Momentum","_seopress_titles_desc":"Sur cette p\u00e9riode de 12 ans, la dette am\u00e9ricaine a \u00e9t\u00e9 multipli\u00e9e par 2,6, grosso modo de 12 000 \u00e0 32 000 milliards de USD.","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-6709","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\/6709","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=6709"}],"version-history":[{"count":12,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6709\/revisions"}],"predecessor-version":[{"id":6725,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/posts\/6709\/revisions\/6725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media\/6719"}],"wp:attachment":[{"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/media?parent=6709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/categories?post=6709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/momentum.lu\/ca\/wp-json\/wp\/v2\/tags?post=6709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}