Take Two: US inflation eases; France to begin new parliamentary session
- 12 July 2024 (3 min read)
What do you need to know?
US annual inflation eased to 3.0% in June from 3.3% in May. The latest reading marks the joint slowest pace of US price rises for three years. Federal Reserve (Fed) Chair Jerome Powell said ahead of the data’s release that the central bank has made “considerable progress” in bringing inflation further towards the Fed’s 2% target, but that “more good data” would be necessary before interest rates could be cut. Powell also said last week that the US is “no longer an overheated economy”. The week also saw both the S&P 500 and Nasdaq hit record highs on the hopes of an interest rate cut.
Around the world
France’s new parliamentary session begins this week with newly elected members of the National Assembly taking their seats amid political uncertainty. The second round of the French parliamentary election brought a surprise victory for left-wing alliance, the New Popular Front, but no single party won an absolute majority, resulting in a hung parliament. President Emmanual Macron’s centrist party came second, and the far-right National Rally third – despite having taken the lead in the first round. France’s CAC Index fell 0.9% in the week to Thursday’s close.1
Figure in focus: €220m
An accelerator programme that supports start-ups to find carbon dioxide removal solutions has helped projects throughout Europe raise more than €220m and is now turning to India to help businesses there mitigate global warming. The Amsterdam-based programme, called remove, is backed by organisations including the Grantham Foundation for the Protection of the Environment, the Sustainability in Business Lab and Carbon Removal Partners. Meanwhile average global temperatures have risen at least 1.5°C above pre-industrial levels for 12 consecutive months, new data from the European Union’s climate change service showed. Temperatures between July 2023 and June 2024 were the highest on record, sitting at 1.64°C greater than their pre-industrial average.
- SW4gZXVybyB0ZXJtcy4gU291cmNlOiBGYWN0U2V0LCBkYXRhIGFzIG9mIDExIEp1bHkgMjAyNA==
Disclaimer
The information on this website is intended for investors domiciled in Switzerland.
AXA Investment Managers Switzerland Ltd (AXA IM) is not liable for unauthorised use of the website.
This website is for advertising and informational purpose only. The published information and expression of opinions are provided for personal use only. The information, data, figures, opinions, statements, analyses, forecasts, simulations, concepts and other data provided by AXA IM in this document are based on our knowledge and experience at the time of preparation and are subject to change without notice.
AXA IM excludes any warranty (explicit or implicit) for the accuracy, completeness and up-to-dateness of the published information and expressions of opinion. In particular, AXA IM is not obliged to remove information that is no longer up to date or to expressly mark it a such. To the extent that the data contained in this document originates from third parties, AXA IM is not responsible for the accuracy, completeness, up-to-dateness and appropriateness of such data, even if only such data is used that is deemed to be reliable.
The information on the website of AXA IM does not constitute a decision aid for economic, legal, tax or other advisory questions, nor may investment or other decisions be made solely on the basis of this information. Before any investment decision is made, detailed advice should be obtained that is geared to the client's situation.
Past performance or returns are neither a guarantee nor an indicator of the future performance or investment returns. The value and return on an investment is not guaranteed. It can rise and fall and investors may even incur a total loss.
AXA Investment Managers Switzerland Ltd.