{"id":60661,"date":"2022-05-11T09:42:46","date_gmt":"2022-05-11T09:42:46","guid":{"rendered":"https:\/\/www.bruellan.ch\/?p=60661"},"modified":"2023-12-12T11:34:08","modified_gmt":"2023-12-12T10:34:08","slug":"linflation-aux-etats-unis-et-stock-picking-2","status":"publish","type":"post","link":"https:\/\/www.bruellan.ch\/de\/linflation-aux-etats-unis-et-stock-picking-2\/","title":{"rendered":"Inflation aux Etats-Unis et \u00abstock picking\u00bb"},"content":{"rendered":"\n<p style=\"font-size:21px\"><strong>Le plus judicieux est de cibler des entreprises actives sur des march\u00e9s \u00e0 croissance s\u00e9culaire, avec un vrai pouvoir de fixation des prix et un rendement du capital \u00e9lev\u00e9.<\/strong><\/p>\n\n\n\n<p><p style=\"font-size: 21px;\">Les perspectives d&#8217;inflation restent le sujet le plus important de l&#8217;\u00e9conomie am\u00e9ricaine. La reprise apr\u00e8s la pand\u00e9mie de Covid a \u00e9t\u00e9 marqu\u00e9e par une augmentation rapide de la demande et des goulets d&#8217;\u00e9tranglement de l&#8217;offre, et la situation de l&#8217;offre s&#8217;am\u00e9liore tr\u00e8s lentement. La persistance des blocages li\u00e9s au Covid dans d&#8217;importantes plateformes commerciales chinoises constitue un probl\u00e8me durable pour les cha\u00eenes d&#8217;approvisionnement mondiales.<\/p>\n<p style=\"font-size: 21px;\">L&#8217;inflation et les conditions du march\u00e9 du travail aux Etats-Unis \u00e9taient d\u00e9j\u00e0 anormales en raison de la reprise en cours de la pand\u00e9mie. Aujourd&#8217;hui, les sanctions cons\u00e9cutives \u00e0 l&#8217;invasion de l&#8217;Ukraine par la Russie faussent encore plus les march\u00e9s des mati\u00e8res premi\u00e8res. La r\u00e9ponse de la Chine \u00e0 la guerre ainsi que son ralentissement \u00e9conomique ajoutent des couches de complexit\u00e9 et ont un impact significatif sur les perspectives am\u00e9ricaines. En g\u00e9n\u00e9ral, l&#8217;\u00e9conomie am\u00e9ricaine est relativement \u00e0 l&#8217;abri des effets n\u00e9gatifs des sanctions li\u00e9es \u00e0 la guerre, car elle est autosuffisante en combustibles fossiles.<\/p>\n<p style=\"font-size: 21px;\">Les conditions financi\u00e8res aux Etats-Unis se sont rapidement resserr\u00e9es depuis un certain temps d\u00e9j\u00e0. Le taux moyen des nouvelles hypoth\u00e8ques sur 30 ans a atteint 5,4% et les salaires r\u00e9els diminuent en raison de la vague d&#8217;inflation. Cela affecte le moral des consommateurs, qui a chut\u00e9 \u00e0 des niveaux jamais vus depuis une d\u00e9cennie. La demande de consommation n&#8217;est cependant pas trop inqui\u00e9tante. Les bilans des consommateurs sont en bon \u00e9tat et renforc\u00e9s par le taux d&#8217;\u00e9pargne extraordinairement \u00e9lev\u00e9 de ces deux derni\u00e8res ann\u00e9es. Le ratio du service de la dette a commenc\u00e9 \u00e0 augmenter apr\u00e8s avoir atteint des niveaux records. Le ratio d&#8217;endettement des m\u00e9nages par rapport au revenu disponible a diminu\u00e9 pendant des ann\u00e9es et est maintenant revenu aux niveaux observ\u00e9s pour la derni\u00e8re fois en 2002.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Le plus judicieux est de cibler des entreprises actives sur des march\u00e9s \u00e0 croissance s\u00e9culaire, avec un vrai pouvoir de fixation des prix et un rendement du capital \u00e9lev\u00e9. Les &#8230; <\/p>\n<div class=\"read-more-link-box\"><a class=\"read-more-link\" href=\"https:\/\/www.bruellan.ch\/de\/linflation-aux-etats-unis-et-stock-picking-2\/\">Weiterlesen<\/a><\/div>\n","protected":false},"author":3,"featured_media":501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[39],"class_list":["post-60661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualites","tag-bruellan-fr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inflation aux Etats-Unis et \u00abstock picking\u00bb - Bruellan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bruellan.ch\/linflation-aux-etats-unis-et-stock-picking-2\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation aux Etats-Unis et \u00abstock picking\u00bb - Bruellan\" \/>\n<meta property=\"og:description\" content=\"Le plus judicieux est de cibler des entreprises actives sur des march\u00e9s \u00e0 croissance s\u00e9culaire, avec un vrai pouvoir de fixation des prix et un rendement du capital \u00e9lev\u00e9. 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