25 Mai: perpsectives boursières de la semaine
François Chaulet, éminent gérant « value » nous a livré hier sa vision des marchés pour la semaine à venir. Il nous indique également les stratégies qu’il mettra en place dans ce contexte.
Toute l'actualité de la planète finance sans langue de bois…
Les commentaires sont fermés.
C’est pas mal, mais il fait l’impasse sur ce que regardent les grands gérants, à savoir la remontée des taux obligataires à cause de la dégradation du Japon et du UK (possiblement les US ?).
L’émission de cette semaine n’est que la première tranche du programme de refinancement du Trésor US. Ce programme représente un montant global de 100 milliards de dollars qui seront levés en trois jours. Il démarre aujourd’hui avec 40 milliards de dollars de T-Notes à deux ans, il continuera demain avec 35 milliards de dollars de bons du Trésor à cinq ans et s’achèvera avec la mise aux enchères 25 milliards de dollars de T-Bonds à sept ans jeudi.
Ces 100 milliards de dollars s’inscrivent dans un programme de refinancement de 900 milliards de dollars qui doit être bouclé d’ici fin septembre car la dette américaine va croître de 2 000 milliards de dollars cette année. Cette somme colossale est ponctionnée sur l’épargne de la planète — pas sur celle des ménages américains dont le patrimoine a fondu d’autant ces six derniers mois.
Ambrose Evans-Pritchard s’étonnait dimanche dans le Daily Telegraph du fait que « les Etats-Unis n’aient pas encore subi l’indignité de l’échec d’une vente aux enchères, contrairement à la Grande-Bretagne et l’Allemagne ». (voir http://www.la-chronique-agora.com/chronique/20090526.html )
Si tout cela ne trouve pas (ou mal) preneur, avec le probleme GM, attendez-vous à une glissade plein sud des indices et de tous les secteurs de la cote!
Oui, peut être, mais les offres obligataires attractives n
Totalement d’accord avec bourse tendance, non seulement elles sont toujours présentes, mais surtout elle peuvent rapporter gros dans le domaine du marché des changes…
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