Report
Patrick Artus

Where did the savings accumulated during COVID go, in the United States and the euro zone?

Households accumulated considerable savings during 2020, due to the decline in consumption opportunities and public income support due to COVID. We seek to determine how these additional household savings were used among the following possibilities: Household consumption; Housing investment; Bank sight deposits; Term deposits or money market funds; Purchases of bonds; Purchases of listed shares. We see that the beneficiaries of the accumulation of savings during COVID have been : In the United States, household consumption; In the United States and the euro zone: Housing investment until the end of 2022; Sight deposits, followed by term deposits and money market funds; Bond purchases from 2022. The surprise is that there has been no increase in share purchases since 2022.
Provider
Natixis
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.

 

Analysts
Patrick Artus

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