{"id":990179,"date":"2025-11-01T13:47:11","date_gmt":"2025-11-01T13:47:11","guid":{"rendered":"https:\/\/heritagewealth.mu\/perspectives-dallocation-dactifs-mondiale\/"},"modified":"2025-12-15T11:44:21","modified_gmt":"2025-12-15T11:44:21","slug":"perspectives-dallocation-dactifs-mondiale","status":"publish","type":"post","link":"https:\/\/backheritage.artover.fr\/fr\/perspectives-dallocation-dactifs-mondiale\/","title":{"rendered":"Perspectives d&rsquo;allocation d&rsquo;actifs mondiale"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"990179\" class=\"elementor elementor-990179 elementor-2733\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ecc6644 e-flex e-con-boxed e-con e-parent\" data-id=\"ecc6644\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-da2dfdb elementor-widget elementor-widget-image\" data-id=\"da2dfdb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/backheritage.artover.fr\/wp-content\/uploads\/elementor\/thumbs\/finger-touch-on-tablet-computer-with-stock-market-2025-03-25-09-01-02-utc-scaled-rf671dq6jp0rfbkmbmf99iehptauk1ipzd4s6x7q8w.jpg\" title=\"Finger touch on tablet computer with stock market data\" alt=\"Finger touch on tablet computer with stock market data\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fb60eba e-flex e-con-boxed e-con e-parent\" data-id=\"6fb60eba\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-72a2ae96 elementor-widget elementor-widget-heading\" data-id=\"72a2ae96\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">RENDEMENTS DES ACTIFS - Points cl\u00e9s du T3 2025<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76a1c462 elementor-widget elementor-widget-text-editor\" data-id=\"76a1c462\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Alors que la politique tarifaire de Trump et le soi-disant \u00ab jour de lib\u00e9ration \u00bb \u00e9taient les th\u00e8mes dominants au T2, l&rsquo;attention au T3 s&rsquo;est port\u00e9e sur la R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine et la trajectoire des taux d&rsquo;int\u00e9r\u00eat mondiaux. Les orientations de politique mon\u00e9taire se sont tourn\u00e9es vers une position plus accommodante, visant \u00e0 soutenir la croissance plut\u00f4t que de<br>r\u00e9pondre aux risques de r\u00e9cession. <\/p><p>Le vieux dicton \u00ab vendez en mai et partez \u00bb aurait manqu\u00e9 un fort rallye estival, et les investisseurs qui sont rest\u00e9s sur le march\u00e9 ont \u00e9t\u00e9 r\u00e9compens\u00e9s. Le T3 2025 a g\u00e9n\u00e9r\u00e9 des rendements positifs dans la plupart des principales classes d&rsquo;actifs, soutenus par : <br><br>i. l&rsquo;optimisme concernant la r\u00e9silience de la croissance \u00e9conomique am\u00e9ricaine,<br>ii. l&rsquo;enthousiasme persistant du march\u00e9 port\u00e9 par l&rsquo;IA, et<br>iii. des b\u00e9n\u00e9fices d&rsquo;entreprises solides, bien que le sentiment soit rest\u00e9 temp\u00e9r\u00e9 par les incertitudes politiques et r\u00e9glementaires.   <\/p><p>La performance a vari\u00e9 selon les r\u00e9gions, les indices europ\u00e9ens \u00e9tant \u00e0 la tra\u00eene par rapport \u00e0 leurs homologues am\u00e9ricains apr\u00e8s une surperformance significative au T1 (i\/ le plan de relance de la d\u00e9fense de l&rsquo;UE et le programme d&rsquo;infrastructure allemand, et ii\/ les sorties de capitaux des \u00c9tats-Unis en raison des politiques impr\u00e9visibles de Trump). Avec l&rsquo;EUR\/USD globalement stable, la performance<br>a \u00e9t\u00e9 principalement d\u00e9termin\u00e9e par les fondamentaux. Les gains des actions sont rest\u00e9s concentr\u00e9s dans le secteur technologique am\u00e9ricain, avec les \u00ab Mag 7 \u00bb en hausse d&rsquo;environ 70 %, soutenus par un \u00e9cosyst\u00e8me d&rsquo;IA de plus en plus circulaire et financ\u00e9 par la dette.  <\/p><p>Avec la reprise du cycle de baisse des taux de la Fed en septembre apr\u00e8s presque un an de statu quo, et face aux signes d&rsquo;un assouplissement du march\u00e9 du travail, les revenus fixes ont \u00e9t\u00e9 soutenus par la baisse des rendements souverains et le resserrement des \u00e9carts de cr\u00e9dit.<\/p><p>Source : JP Morgan<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-48bdb4cc e-con-full e-flex e-con e-child\" data-id=\"48bdb4cc\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3691364c e-con-full e-flex e-con e-child\" data-id=\"3691364c\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2eb63f4f elementor-widget elementor-widget-image\" data-id=\"2eb63f4f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"849\" height=\"731\" src=\"https:\/\/backheritage.artover.fr\/wp-content\/uploads\/2025\/11\/Screenshot-2025-12-02-at-07.37.20-rrrr.png\" class=\"attachment-large size-large wp-image-989079\" alt=\"\" srcset=\"https:\/\/backheritage.artover.fr\/wp-content\/uploads\/2025\/11\/Screenshot-2025-12-02-at-07.37.20-rrrr.png 849w, https:\/\/backheritage.artover.fr\/wp-content\/uploads\/2025\/11\/Screenshot-2025-12-02-at-07.37.20-rrrr-300x258.png 300w, https:\/\/backheritage.artover.fr\/wp-content\/uploads\/2025\/11\/Screenshot-2025-12-02-at-07.37.20-rrrr-768x661.png 768w\" sizes=\"(max-width: 849px) 100vw, 849px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6984d872 e-con-full e-flex e-con e-child\" data-id=\"6984d872\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-727ceb5e e-con-full e-flex e-con e-child\" data-id=\"727ceb5e\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-67afc3e8 e-con-full e-flex e-con e-child\" data-id=\"67afc3e8\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-27902f7f e-con-full e-flex e-con e-child\" data-id=\"27902f7f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-55c9a2f3 elementor-widget__width-auto elementor-widget elementor-widget-heading\" data-id=\"55c9a2f3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Rapport<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18f04a4c elementor-invisible animated-fast elementor-widget elementor-widget-heading\" data-id=\"18f04a4c\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;,&quot;_animation_delay&quot;:50}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Perspectives d'allocation d'actifs\nmondiale<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1823b224 elementor-widget elementor-widget-spacer\" data-id=\"1823b224\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4c36039f e-con-full e-flex e-con e-child\" data-id=\"4c36039f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-15c944b5 elementor-invisible animated-fast elementor-widget elementor-widget-button\" data-id=\"15c944b5\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:150}\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/heritagewealth.mu\/wp-content\/uploads\/2025\/12\/Global-Asset-Allocation-Perspectives-Nov-2025.pdf\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">T\u00e9l\u00e9charger le Rapport<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c36098e elementor-widget elementor-widget-heading\" data-id=\"c36098e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Table des mati\u00e8res du rapport :<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"vamtam-has-theme-widget-styles elementor-element elementor-element-9e7b5e7 elementor-icon-list--layout-traditional elementor-list-item-link-full_width vamtam-icon-bg-no vamtam-icon-bg-no elementor-widget elementor-widget-icon-list\" data-id=\"9e7b5e7\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">RENDEMENTS DES ACTIFS - Points cl\u00e9s du T3 2025<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">RENDEMENTS DES ACTIFS - Perspectives pour le T4 2025 ? <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Mise \u00e0 jour du FMI (Oct. 2025)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - \u00c9tats-Unis <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Zone Euro<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Japon <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Chine<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Pays \u00e9mergents<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">APER\u00c7U MACRO - Pays \u00e9mergents - Mise \u00e0 jour du FMI<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">POSITIONNEMENT DES CLASSES D'ACTIFS<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>2025<\/p>\n","protected":false},"author":1,"featured_media":990008,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[],"class_list":["post-990179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rapport"],"_links":{"self":[{"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/posts\/990179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/comments?post=990179"}],"version-history":[{"count":2,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/posts\/990179\/revisions"}],"predecessor-version":[{"id":990504,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/posts\/990179\/revisions\/990504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/media\/990008"}],"wp:attachment":[{"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/media?parent=990179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/categories?post=990179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backheritage.artover.fr\/fr\/wp-json\/wp\/v2\/tags?post=990179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}