· Prise de bénéfices légitimes : DJ -1.2%, S&P500 -1.3%, NASDAQ -0.5%, NIKKEI -0.3% et EUROSTOXX +1.0% et en baisse de 1.3 en ce moment.
· La FED poursuit l’administration du remède de cheval, en décidant de racheter pour 300 mrds de dette d’Etat. On constate que bien que la masse monétaire explose, la circulation de celle-ci en est toujours quasiment au point mort. La hauteur des mesures prises de ci de là est à la mesure du problème, sans pour autant le résoudre. Le risque à terme est, naturellement, un retour en force de l’inflation. Prudence donc sur l’obligataire, et en particulier sur les obligations d’Etats.
· Le marché du travail affiche des statistiques de plus en plus mauvaises. C’est assez normal et cela reste un indicateur tardif, pour l’économie et a fortiori pour la bourse. La bourse pourrait entamer une phase d’amélioration bien avant le marché du travail.
· Le VIX (indice de volatilité des actions américaines) rebondit à nouveau à 43.6. L’or est en rebond à 961.2 USD l’once et le pétrole (BRENT CRUDE SPOT) également à 48.8 USD. Le USD est en forte baisse à l’EUR à 1.37. Le spread CMS 10-2 ans est à 1.49. Les CMS 5 ans est à 2.724 et le 3 ans à 2.225
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