{"id":270573,"date":"2026-08-21T14:35:07","date_gmt":"2026-08-21T14:35:07","guid":{"rendered":"https:\/\/www.europesays.com\/ch-fr\/270573\/"},"modified":"2026-08-21T14:35:07","modified_gmt":"2026-08-21T14:35:07","slug":"pourquoi-le-tresor-americain-rachete-ses-propres-obligations","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch-fr\/270573\/","title":{"rendered":"Pourquoi le Tr\u00e9sor am\u00e9ricain rach\u00e8te ses propres obligations"},"content":{"rendered":"<p>On connaissait les entreprises qui rach\u00e8tent leurs propres actions. Ces op\u00e9rations appel\u00e9es \u00abbuybacks\u00bb en jargon financier permettent de r\u00e9duire le nombre de titres en circulation et donc d\u2019augmenter le b\u00e9n\u00e9fice par action. Ce mercredi, le Tr\u00e9sor am\u00e9ricain a annonc\u00e9 qu\u2019il s\u2019appr\u00eatait \u00e0 racheter ses propres obligations, pour un montant de 4\u00a0milliards de dollars au lieu des 2\u00a0milliards initialement pr\u00e9vus. Cette intervention vise \u00e0 contenir ou faire baisser les rendements actuellement \u00e0 des niveaux record, alors que la dette am\u00e9ricaine atteint le niveau in\u00e9dit de 40\u00a0000\u00a0milliards de dollars.<\/p>\n<p>Les Etats-Unis font face \u00e0 des co\u00fbts de financement stratosph\u00e9riques, avec le rendement des bons du Tr\u00e9sor \u00e0 30\u00a0ans \u00e0 des sommets jamais vus depuis vingt\u00a0ans. Les cons\u00e9quences concr\u00e8tes de cette situation sont redoutables sur le plan politique: le service de la dette devient plus co\u00fbteux, les taux des hypoth\u00e8ques et d\u2019autres cr\u00e9dits sont eux aussi \u00e9lev\u00e9s, ce qui freine la consommation, donc la croissance. Pas bon alors que se profilent les \u00e9lections de mi-mandat, d\u00e9but novembre.<\/p>\n","protected":false},"excerpt":{"rendered":"On connaissait les entreprises qui rach\u00e8tent leurs propres actions. Ces op\u00e9rations appel\u00e9es \u00abbuybacks\u00bb en jargon financier permettent de&hellip;\n","protected":false},"author":2,"featured_media":270574,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[45,44,43,222,4377,174,23],"class_list":["post-270573","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economie","tag-business","tag-economie","tag-economy","tag-etats-unis","tag-finances-publiques","tag-premium","tag-suisse"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch_fr\/117134001699597201","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/posts\/270573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/comments?post=270573"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/posts\/270573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/media\/270574"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/media?parent=270573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/categories?post=270573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch-fr\/wp-json\/wp\/v2\/tags?post=270573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}