Report
It will difficult to absorb the uncertainty shock on US households
In just one month, the US economy has lost more than 20 million jobs. That's a ten-year jump backwards. One would expect US household morale to break all previous low points. This is not (yet) the case. The depression was much worse in 2008. Three factors explain the difference. First, the fall in the US stockmarket has not been as steep this time round. Second, household mortgage debt is not unsustainable. Third, with the emergency support mechanisms, the income of many unemplo...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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