Job creation in the USA encouraged wage growth (+4.1% in one year) faster than inflation (3.2%).
With many new jobs created and workers seeing their purchasing power increase, household consumption will be dynamic, and overall economic activity will remain expanding in the coming quarters.
The US Federal Reserve has succeeded perfectly in its mission. It is considered impossible to contain price slippage without bringing the economy into recession. The Fed is now comfortable and can wait to ensure inflation is under control before lowering its key rate.
Given the strength of the US economy, investors fear it will delay monetary easing. As a result, US equity markets declined, and interest rates recovered.
Take the opportunity to invest in the United States. As part of our portfolio strategy, buy 5, 10 or 15% US equities depending on whether your risk profile is defensive, neutral or dynamic.
Also, buy 15% USD bonds as part of a defensive or dynamic portfolio and up to 20% in a neutral.
