the sock swap of Paris ended with a strong fall of 1.87% on Thursday, September 22, with difficulty accepting the determination of the american central bank raising its main key rate sharply and more sustainably than expected. the star index ACC 40 it fell from 112.83 points to 5,918.50 points, the day after a rebound attempt (+0.87%). the parisian coast snapped lower before getting up throughout the day. But the awakening of the US markets caused it to sink again. In ten days it went from more than 6,300 points to a level that brings it closer to its lowest point of the year (5,795 points on July 5).
The Federal Reserve on Wednesday raised its main rate by 0.75 percentage point, taking it to a range of 3% to 3.25%. They were just above 0% at the beginning of the year. Overall, the message from IDB Chairman Jerome Powell was that rates would go “higher” and stay there “longer” than market expectations so far, says Benjamin Melman, chief investment officer at Edmond de Rothschild AM.
Some investors were “still considering rate cuts through 2023” as Fed members’ forecasts now point to a rate of around 4.5% by the end of the current year and by 2023, he supports. In the debt market, France’s interest rate for the 10-year loan rose to a new maximum since 2014, standing at 2.52% after (…)
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