ONE BAD APPLE SPOILS THE BUNCH ?
Edito And to say that we are only January 4th... First of all, we wish our readers a happy and prosperous new year. This year begins as the previous one ended, in a climate of risk aversion, oversensitive to the slightest spark (bad growth figure in China or profit warning from Apple). With current levels on the Tnotes (2.58% for the 10 years note) and future Fed Funds which now forecast a rate cut in 2019, the situation seems difficult over the medium term and the volatility promises to be there.