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US profits recession: it could have been worse
The GDP recession in 2020 was much more severe than the one caused by the financial crisis in 2008, but it’s not the case for the profits recession. The fall in profits is 22% peak-to-date as measured by the national accounts, a decline roughly half that observed in 2009. This difference is due to two factors: firstly, the robust health of the banking sector; secondly, the fiscal stimulus. Even though we are still waiting for a fiscal extension, the low point may already have pas...
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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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