Synthèse conjoncturelle du 21 au 27 juin 2017 : Les taux souverains italiens et espagnols résistent aux turbulences bancaires
Analyse synthétique des faits et chiffres marquants de la conjoncture mondiale.
Après le sauvetage début juin de la 6°banque espagnole, Banco Popular, via le mécanisme de résolution européen, le 25 juin l'Etat italien a annoncé la recapitalisation de deux banques placées en liquidation (Veneto Banca et Banca Popolare di Vicenza).
Alors qu'un tel contexte aurait probablement suscité des tensions lors de la crise de 2011-12, les taux des obligations d’Etat à dix ans d’Italie et d’Espagne ont respectivement reculé de 38 et 34 points de base depuis un pic touché le 7 juin. La première réaction des marchés paraît ainsi positive mais sera toutefois à surveiller.
Sur le front macroéconomique, la tonalité des indicateurs reste des plus positives en Europe. Aux Etats-Unis l’investissement productif ne parvient pas à trouver un second souffle.
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