{"id":54621,"date":"2025-08-26T14:46:15","date_gmt":"2025-08-26T12:46:15","guid":{"rendered":"https:\/\/www.accuracy.com\/?p=54621"},"modified":"2025-08-26T14:53:05","modified_gmt":"2025-08-26T12:53:05","slug":"lexuberance-actuelle-des-marches-est-elle-rationnelle","status":"publish","type":"post","link":"https:\/\/www.accuracy.com\/fr\/is-todays-market-exuberance-rational-project-syndicate\/","title":{"rendered":"L'exub\u00e9rance actuelle des march\u00e9s est-elle rationnelle ? - Project Syndicate"},"content":{"rendered":"<p>With the United States ushering in a new era of zero-sum trade warfare, the broader world economy is being reshaped before our eyes. Yet despite obvious risks to growth and price stability, US stock indices are behaving as if everything was just fine.<\/p>\n<p data-line-id=\"0b069161d4184db8b1b9c21ede18661d\">PARIS \u2013 Despite all the policy-induced uncertainty wrought by President Donald Trump\u2019s administration, US stock markets seem to be sending a message of normalization. Major indexes have returned to where they were at the beginning of the year and continued to rise. What is going on? Are these new highs credible?<\/p>\n<p>[&#8230;]<\/p>\n<aside class=\"small-12 medium-10 medium-offset-1 large-8 large-offset-2 xlarge-6 xlarge-offset-3 cell u-mt interaction--hideable printable\" data-page-area=\"article-bottom\">\n<div class=\"u-mb\" data-id=\"herv-goulletquer-2\">\n<div class=\"readmore u-mt-se u-text\">\n<p>Herv\u00e9 Goulletquer is an economist at Accuracy, a business and financial consultancy.<\/p>\n<hr \/>\n<p>Read the full article <a href=\"https:\/\/www.project-syndicate.org\/commentary\/us-stock-markets-ignoring-financial-economic-trade-risks-by-herve-goulletquer-2-2025-07\">here<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/aside>\n","protected":false},"excerpt":{"rendered":"<p>With the United States ushering in a new era of zero-sum trade warfare, the broader world economy is being reshaped before our eyes. Yet despite obvious risks to growth and price stability, US stock indices are behaving as if everything was just fine. PARIS \u2013 Despite all the policy-induced uncertainty wrought by President Donald Trump\u2019s [&hellip;]<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"class_list":["post-54621","post","type-post","status-publish","format-standard","hentry","category-press"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is Today\u2019s Market Exuberance Rational? - Project Syndicate - Accuracy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.accuracy.com\/fr\/lexuberance-actuelle-des-marches-est-elle-rationnelle\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Today\u2019s Market Exuberance Rational? - Project Syndicate\" \/>\n<meta property=\"og:description\" content=\"With the United States ushering in a new era of zero-sum trade warfare, the broader world economy is being reshaped before our eyes. Yet despite obvious risks to growth and price stability, US stock indices are behaving as if everything was just fine. PARIS \u2013 Despite all the policy-induced uncertainty wrought by President Donald Trump\u2019s [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.accuracy.com\/fr\/lexuberance-actuelle-des-marches-est-elle-rationnelle\/\" \/>\n<meta property=\"og:site_name\" content=\"Accuracy\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-26T12:46:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-26T12:53:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.accuracy.com\/wp-content\/uploads\/2023\/10\/Accuracy.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ma\u00eblys Gomis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ma\u00eblys Gomis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimation du temps de lecture\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.accuracy.com\\\/is-todays-market-exuberance-rational-project-syndicate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.accuracy.com\\\/is-todays-market-exuberance-rational-project-syndicate\\\/\"},\"author\":{\"name\":\"Ma\u00eblys Gomis\",\"@id\":\"https:\\\/\\\/www.accuracy.com\\\/#\\\/schema\\\/person\\\/68ce67d9b9beccdb553af07dbe3a32fd\"},\"headline\":\"Is Today\u2019s Market Exuberance Rational? 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