Natixis - D.Â Trump ne peut pas oublier les effets de richesse actions aux Ã‰tats-Unis

Report

Natixis

Patrick Artus

D.Â Trump ne peut pas oublier les effets de richesse actions aux Ã‰tats-Unis

Aux Ã‰tats-Unis, les effets de richesse actions sont Ã©levÃ©s, ce qui vient largement du poids des actions dans les systÃ¨mes de retraite, dans la richesse des mÃ©nages et dans le financement des entreprises. Un recul du marchÃ© des actions aux Ã‰tats-Unis conduit donc Ã une hausse importante du taux dâ€™Ã©pargne des mÃ©nages et Ã une baisse importante de lâ€™investissement des entreprises. D.Â Trump ne peut donc pas accepter un recul du marchÃ© des actions aux Ã‰tats-Unis qui mettrait en pÃ©ril la croissance. Ceci est assez rassurant, car excluant normalement une guerre, une guerre commerciale.

20/06/2019 5 FR

Provider

Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

See profile

Analysts

Patrick Artus

Other Reports from Natixis

Christopher HODGE ... (+2)

Christopher HODGE
Jonathan PINGLE

Section 899: A tool to increase revenue or to change foreign tax policy?

The One Big Beautiful Bill (OBBB) that was passed by the US House of Representatives includes a new set of retaliatory ta xes in Section 899 that could potentially have significant effects on financial flows into the US and bilateral tax treaties. It’s being called a “revenge tax” because it’s specifically designed to apply only in cases where other countries are deemed to be imposing unfair taxes against U S companies. Many of the provisions of the OBBB are currently being debated in Congress and it remains to be seen what, if any, version of section 899 is included in the final bill...

June 6, 2025 June 6, 2025 1 EN

Inna Mufteeva

Inna Mufteeva

ECB Takes Summer Pause to Preserve Monetary Policy Flexibility

While the decision for a new 25bp cut in the ECB's deposit rate was widely anticipated, the notably more hawkish tone of President Lagarde's speech surprised the markets. The persistent uncertainties surrounding trade relations between the United States and the eurozone seem to have justified this desire to maintain the " optionality " of monetary policy, which, according to Lagarde, is now "well positioned." However, last week was not particularly reassuring in terms of macroeconomic indicators, especially for the PMI indices of the United States, the eurozone, and China, as well as for Europ...

June 6, 2025 June 6, 2025 1 EN

Inna Mufteeva

Inna Mufteeva

La BCE en pause estivale afin de garder « l’optionalité » de sa politique

Si la décision d’une nouvelle baisse de 25 pb du taux des dépôts de la BCE a été largement attendue, la nouvelle tonalité sensiblement plus hawkish du discours de la présidente Lagarde a surpris les marchés. Les incertitudes persistantes sur les relations commerciales entre les Etats-Unis et la zone euro semblent avoir justifié cette volonté de maintenir « l’optionalité » de la politique monétaire qui, d’après Lagarde, est désormais « bien positionnée ». Cependant, la semaine passée n’a pas été particulièrement rassurante en termes d’indicateurs macroéconomiques, notamment, pour les indices ...

June 6, 2025 June 6, 2025 1 FR

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

D.Â Trump ne peut pas oublier les effets de richesse actions aux Ã‰tats-Unis

Section 899: A tool to increase revenue or to change foreign tax policy?

ECB Takes Summer Pause to Preserve Monetary Policy Flexibility

La BCE en pause estivale afin de garder « l’optionalité » de sa politique

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe