https://richesflores.com GLOBAL MACRO AND THEMATIC INDEPENDENT RESEARCH Tue, 09 Mar 2021 08:26:24 +0000 fr-FR hourly 1 https://wordpress.org/?v=6.8.6 https://richesflores.com/wp-content/uploads/2019/05/cropped-LogoRFRSquare512-32x32.png https://richesflores.com 32 32 https://richesflores.com/2020/12/11/perspectives-2021-reflation-enfin-biden-yellen-2021-previsions/ https://richesflores.com/2020/12/11/perspectives-2021-reflation-enfin-biden-yellen-2021-previsions/#respond Fri, 11 Dec 2020 21:33:04 +0000 https://richesflores.com/?p=13901 https://richesflores.com/2020/12/11/perspectives-2021-reflation-enfin-biden-yellen-2021-previsions/feed/ 0 https://richesflores.com/2020/12/04/yellen-ou-quand-lexuberance-des-marches-transforme-une-bonne-nouvelle-en-risque-majeur-yellen-coronavirus-taux-us-conjoncture-emploi/ https://richesflores.com/2020/12/04/yellen-ou-quand-lexuberance-des-marches-transforme-une-bonne-nouvelle-en-risque-majeur-yellen-coronavirus-taux-us-conjoncture-emploi/#respond Fri, 04 Dec 2020 22:12:33 +0000 https://richesflores.com/?p=13881 https://richesflores.com/2020/12/04/yellen-ou-quand-lexuberance-des-marches-transforme-une-bonne-nouvelle-en-risque-majeur-yellen-coronavirus-taux-us-conjoncture-emploi/feed/ 0 https://richesflores.com/2018/02/26/central-bankers-caught-between-the-scylla-of-inequalities-and-the-charybdis-of-financial-bubbles/ Mon, 26 Feb 2018 17:13:15 +0000 https://richesflores.com/?p=9478 https://richesflores.com/2014/06/19/fed-calm-things-down/ Thu, 19 Jun 2014 13:13:14 +0000 https://richesflores.com/?p=4103 th can be summed up. Through a statement, it left its message from April pretty much unchanged, thus leaving no room for excessive reactions in either direction. Janet Yellen excelled at this balancing game even as the environment had grown increasingly tense in the few days before the meeting.
By calming things down, Janet Yellen has snuffed out the risk of runaway anticipations and opened the door to a correction on the two-year, whose levels had become dangerously tight in the last two weeks.
The Fed’s consistent message is a stabilizing factor amid growing geo-political tension and, consequently, stress on the price of oil.
On balance, today’s communication strengthened our expectations, validating our scenario that the probability of an interest rate hike in the foreseeable future is low. Growing concerns over the possibility of a sustained gap in long-term interest rates between the US and the euro area should ease, which also reduces the likelihood of the dollar strengthening much versus the euro.
Geo-political and oil risk notwithstanding, the overall picture is mostly favorable for equities on both sides of the Atlantic but could also prove promising for gold, given the risks associated with future developments in the situation in Iraq]]>