On financial markets, the summer fears have subsided. The S&P, the world’s leading index, is close to its historical highs reached on July 16th (+17% since the beginning of the year). In Europe, the Eurostoxx50 (+10%) has recovered more than 11% from the low of August 5th and is not far from the March and July highs: it needs to rise another 10% to reach the absolute peak touched in 2000. The usually [...]
SEPTEMBER COMMENT 2024 - TRICKLE-DOWN EFFECT WITH FISCAL LEVERAGE