Read our market review and find out all about our theme of the week in MyStratWeekly and its podcast with our experts Stéphane Déo, Axel Botte, Aline Goupil-Raguénès and Zouhoure Bousbih.

Topic of the week: Shiller’s PE: United States and Europe

  • The sharp decline of the stock exchanges gave rise to a debate. While the observed PE collapsed, the question focuses on the fact that these PE are distorted by excessively high EPS and therefore advocated to be corrected downwards;
  • Shiller’s PE is often misplaced. Its current level is consistent with the stock market performance over the coming decade, which remains more than honorable, at around 6% per year;
  • The application of the methodology to Europe gives a neutral signal.

Market review: Panic in London

  • UK mini-budget triggers financial storm;
  • The BoE intervenes to stem fire sales of Gilts by pension funds;
  • Renewed tensions on spreads, except for sovereign bonds;
  • US stocks plunge 3%.

Stéphane Déo's podcast

  • Return to the markets;
  • Actions: expensive or cheap?

Chart of the week

money-supply-g3-usa-euro-area-japan-yoy-growth

Rising rates are only part of the history of monetary upturn. One of the consequences is also the decline in the money supply, which is very marked for the G3, the three main countries.
This decrease in available liquidity is also one of the reasons for the difficulties of risky assets.

Figure of the week

In basis points, the increase of the 30 years UK yield between 22 and 28 September (3.49% to 5.13% intraday).
Ms. Truss' budget was not much appreciated by the markets.

MyStratWeekly : Market views and strategy

Download Download MyStratWeekly – October 3rd 2022
  • Stéphane Déo

    Stéphane Déo

    Head of markets strategy

  • Axel Botte

    Axel Botte

    Global strategist

  • Zouhoure Bousbih

    Zouhoure Bousbih

    Emerging countries strategist

  • Aline Goupil-Raguénès

    Aline Goupil-Raguénès

    Developed countries strategist

Podcast
Reading time : 15 min.
NEWS MARKETS
Read our market review and find out all about our theme of the week in MyStratWeekly and its podcast with our experts Stéphane Déo, Axel Botte, Aline Goupil-Raguénès and Zouhoure Bousbih.
11/29/2022
Podcast
Reading time : 15 min.
NEWS MARKETS
Read our market review and find out all about our theme of the week in MyStratWeekly and its podcast with our experts Stéphane Déo, Axel Botte, Aline Goupil-Raguénès and Zouhoure Bousbih.
11/22/2022
Podcast
Reading time : 15 min.
NEWS MARKETS
Read our market review and find out all about our theme of the week in MyStratWeekly and its podcast with our experts Stéphane Déo, Axel Botte, Aline Goupil-Raguénès and Zouhoure Bousbih.
11/14/2022