INSEE has, once more, revised downward 2^nd quarter French growth. It has been negative: -0.1%. France didn’t have a reduction of its GDP during one quarter since 2013. So it is difficult to share the optimism of those who consider that “it is going better”. Despite a favorable international environment, a weak oil price, interest rates at their historic low and substantial fiscal incentives for business, French economy is not rebounding. And the figures, published by INSEE even include evaluations difficult to understand since the contribution of foreign trade to growth would be positive for the first ...

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TEC-10 index, published by Agence France Trésor, which measures interest rate paid by the State on its ten years bonds has reached on July 1^st, an unprecedented level : 0,17%. It had fallen last Monday, after the announcement of the results of the British referendum, and had come back to the low levels attained during a few days, in April 2015. But the fall was amplified at the end of the week. Investors have chosen the safest assets when financial markets were confronted with a confidence crisis reflecting worries generated by the Brexit vote. But if stock markets ...

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Agence France Trésor has published today its TEC 10 index which reflects the 10 years interest rate offered by the State : it is going down to reach 0,4%. It has been inferior to this level only during few days, between April 2015 15^th and 23^rd. France still fully profit from the European Central Bank policy. It will generate this year a new and substantial reduction of the cost, for the State, of its debt. Contrary to the strong rise announced, against any logic, in the 2016 finance bill, this fall will permit a reduction of at ...

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