Archives Jan. 1, 2021

The publication of an upward revision of the French GDP during 2021 2nd quarter, from 0.9% to 1.1%, the confirmation of the 2021 growth forecasts between 5 and 6% as the coming back to the pre-Covid-19 crisis level of the jobseekers having no activity level has been welcomed with satisfaction and has been accompanied with definitely optimistic comments. It has been the same with the polls results about an improvement of business climate in several activities. But it is excessive because these data are based on figures largely influenced by “basic effects”. When you measure an evolution against ...

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The Joe Biden victory has been welcomed with relief by the international community: it was the certainty of an appeasement of the geopolitical tensions with the comeback of the presence of the U.S. in the major multilateral discussions. Several signals have been very quickly sent with notably the return in the Paris Agreement related to the fight against climate warming from which Donald Trump had left its country. But the issue of the relations with China still remains sensitive. The tone has changed with the abandon of the provocations but the analysis remains the same: China is a strategic ...

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Since the beginning of August, the French State 10 Years-Bonds rate has fluctuated between -0.14% and -0.20%. We must come back to 2020 autumn at the top of the second wave of the Covid-19 pandemic to find so low interest rates. The trend is general in the euro zone and the spread between the countries said “virtuous” and the southern countries has not stopped to narrowing. Between France and Germany, it little oscillates around 35 basis points when the difference between their public indebtedness ratios is huge, with 75% of the GDP for Germany and near 120% in ...

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