The CAC40 posted a 4th session of stagnation (+0.00%), just above 7,220pts in conditions of illiquidity and evaporation of volumes such as have never been seen in the 21st century.
At this stage of the week, the CAC 40 posted a limited weekly decline of around 0.7%, but for the time being is preserving its major support of 7,200 points, with trading below half the average.200 points, with trading less than half the average.

Once again, the billion-trading mark was barely reached with 1H to go, while Wall-Street moved slightly higher in early trading on Friday: the Dow Jones gained +0.25%, the S&P500 +0.6% and the Nasdaq, boosted by Tesla (+7% to $252) climbed +1.1% to 13.385.

Fears of a tightening of the monetary policies of the major central banks remain in the background, as we await the Fed and ECB meetings scheduled for next week (75% of investors are betting on a status quo on June 14, and 66% expect +25Pts at the end of July.

Yesterday's announcement that the eurozone had slipped into a "technical" recession (-0.1%), marked by two consecutive quarters of negative growth, reinforced concerns about the health of the global economy.

Deprived of catalysts, the Paris market - like other world markets - seems to have been searching for a direction since the end of April.

In the absence of economic indicators, today's session remains particularly quiet, on both sides of the Atlantic.

The easing of tensions on the interest rate market could nevertheless encourage a small rise in bonds.

Sovereign yields are easing at the margin: the yield on the 10-year German Bund, the benchmark rate for the eurozone, is down 2.2 points to 2.40%, while our OATs are down 3 points to 2.947%.
By contrast, the 10-year US bond is down from 3.713% to 3.773%.

The dollar rallied slightly against the euro, which gave up some ground towards 1.0775, but the greenback is heading for losses on the week, with traders apparently betting on a 'status quo' from the Fed next week.

Oil is also set to end the week on a negative note, despite Sunday's announcement of further OPEC production cuts.

A barrel of US light crude (WTI) is trading at $71.35, while North Sea Brent is up to $76 (+0.6%).

The big winner of the week so far is gold - up 1.4% to $1,964 - with the yellow metal continuing to benefit from robust demand, supported in particular by the risks weighing on the US economy.

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