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US: towards a federal budget deficit of 20% of GDP?
In just a few months, the federal budget deficit widened by around 10 points of GDP, flirting with the 14% of GDP threshold. For the time being, this exceptional fiscal support has helped preserve household income and corporate access to credit. But it is running out of steam as the pandemic continues to spread. It is widely acknowledged that fresh support for households and local governments is needed to ensure that the recovery is confirmed (one of Trump’s last cards to play). ...
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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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