[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"wp-post-comment-les-marches-ont-traverse-le-debut-de-2026":3},{"id":4,"date":5,"date_gmt":5,"guid":6,"modified":8,"modified_gmt":8,"slug":9,"status":10,"type":11,"link":12,"title":13,"content":15,"excerpt":18,"author":20,"featured_media":21,"comment_status":22,"ping_status":22,"sticky":17,"template":23,"format":24,"meta":25,"categories":27,"tags":29,"class_list":30,"_links":38,"_embedded":83},25,"2026-04-14T08:29:13",{"rendered":7},"https:\u002F\u002Fadmin-blog-wp.tellenbach.net\u002F?p=25","2026-04-16T17:11:13","comment-les-marches-ont-traverse-le-debut-de-2026","publish","post","https:\u002F\u002Fadmin-blog-wp.tellenbach.net\u002Fcomment-les-marches-ont-traverse-le-debut-de-2026\u002F",{"rendered":14},"Comment les marchés ont traversé le début de 2026",{"rendered":16,"protected":17},"\u003Cp>Un point simple, clair et utile — même si vous débutez en finance\u003C\u002Fp>\n\u003Cp>Le début de l’année 2026 a été marqué par un contexte international tendu, notamment avec la guerre au Proche‑Orient. Pourtant, malgré les gros titres anxiogènes, les marchés ont réagi de manière plus nuancée qu’on pourrait l’imaginer.\u003Cbr \u002F>\nVoici ce qu’il faut retenir, sans entrer dans le jargon technique.\u003C\u002Fp>\n\u003Cp> \u003C\u002Fp>\n\u003Cp>Un contexte géopolitique difficile… mais des marchés résilients\u003Cbr \u002F>\nLes premières attaques contre l’Iran ont créé beaucoup d’incertitude.\u003Cbr \u002F>\nPourtant, la réaction immédiate des marchés a été modérée.\u003Cbr \u002F>\nCe n’est qu’en mars que les investisseurs ont commencé à anticiper un conflit plus long, ce qui a entraîné une baisse générale des marchés.\u003Cbr \u002F>\nEn parallèle :\u003Cbr \u002F>\n• Les attentes de hausse des taux d’intérêt ont pesé sur les obligations et les actifs risqués.\u003Cbr \u002F>\n• Le dollar fort et la hausse des taux mondiaux ont fait reculer le cours de l’or.\u003C\u002Fp>\n\u003Cp>Traduction simple :\u003Cbr \u002F>\nLes marchés n’aiment ni les guerres ni les taux qui montent. Mais ils ont montré une capacité étonnante à absorber les chocs.\u003C\u002Fp>\n\u003Cp> \u003C\u002Fp>\n\u003Cp>Exemple : Comment s’est comporté un portefeuille Smart Money Invest dynamique ?\u003Cbr \u002F>\nSur la période décembre 2025 → mars 2026, un portefeuille de type Dynamic affiche une performance de +1.3%.\u003Cbr \u002F>\nD’où vient cette performance ?\u003Cbr \u002F>\n• Actions : +0.8%\u003Cbr \u002F>\n• Alternatifs : +0.6%\u003Cbr \u002F>\n• Liquidités : 0.0%\u003Cbr \u002F>\n• Obligations : –0.1%\u003C\u002Fp>\n\u003Cp>En clair :\u003Cbr \u002F>\nLes actions et les investissements alternatifs ont soutenu la performance.\u003Cbr \u002F>\nLes obligations ont légèrement pesé, ce qui est normal dans un contexte de hausse des taux.\u003C\u002Fp>\n\u003Cp> \u003C\u002Fp>\n\u003Cp>Quels ajustements ont été faits dans le portefeuille ?\u003Cbr \u002F>\nLes gérants ont procédé à plusieurs ajustements pour renforcer la qualité et la diversification.\u003C\u002Fp>\n\u003Cp>Achats récents\u003Cbr \u002F>\n• Nestlé\u003Cbr \u002F>\n• Cisco Systems (nouvelle position)\u003Cbr \u002F>\n• Givaudan\u003Cbr \u002F>\n• Rio Tinto (nouvelle position)\u003Cbr \u002F>\n• Exelon\u003C\u002Fp>\n\u003Cp>Idée générale :\u003Cbr \u002F>\nRenforcer des entreprises solides, défensives ou stratégiques, et ajouter de la technologie et des matières premières.\u003C\u002Fp>\n\u003Cp>Ventes récentes\u003Cbr \u002F>\n• Caterpillar\u003Cbr \u002F>\n• Publicis\u003Cbr \u002F>\n• Michelin\u003Cbr \u002F>\n• Allreal\u003C\u002Fp>\n\u003Cp>Idée générale :\u003Cbr \u002F>\nRéduire l’exposition aux secteurs cycliques ou sensibles au ralentissement économique.\u003C\u002Fp>\n\u003Cp> \u003C\u002Fp>\n\u003Cp>Ce que cela signifie pour un investisseur\u003Cbr \u002F>\nMême dans un environnement incertain, un portefeuille bien diversifié peut :\u003Cbr \u002F>\n• absorber les chocs,\u003Cbr \u002F>\n• profiter des opportunités,\u003Cbr \u002F>\n• rester sur une trajectoire positive.\u003Cbr \u002F>\nLe message clé pour un investisseur néophyte :\u003C\u002Fp>\n\u003Cp>Ce n’est pas le bruit du moment qui compte, mais la structure du portefeuille et la discipline dans le temps.\u003C\u002Fp>\n",false,{"rendered":19,"protected":17},"\u003Cp>Malgré un contexte géopolitique tendu en début 2026, les marchés ont montré une résilience surprenante.\u003Cbr \u002F>\nUn portefeuille diversifié continue d’absorber les chocs et de saisir les opportunités, même dans 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