[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"excludedFolder":3,"header":21,"socials":41,"menu":54,"footer":75,"single:lantiseche-des-obligations":145,"related:lantiseche-des-obligations":317},{"_createdAt":4,"_id":5,"_rev":6,"_type":7,"_updatedAt":4,"color":8,"image":11,"order":16,"slug":17,"title":20},"2025-12-18T16:04:56Z","prismic.folder.ZGSFVxAAACIA0aTZ","6sR35j6mIdEYpnSKTHbiuE","folder",{"hex":9,"name":10},"#784D7C","violet",{"_type":12,"asset":13},"image",{"_ref":14,"_type":15},"image-47e1200e1422e65f2f9ffe879fb2e64f9bd0d776-2170x1001-png","reference",6,{"_type":18,"current":19},"slug","gestion-de-tresorerie","Gestion de 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épargne.\n",{"logo":76,"text":78,"lexiconTitle":69,"lexiconWords":79,"pinnedFolders":141},{"_type":12,"asset":77},{"_ref":73,"_type":15},"Comprendre l’économie et les marchés financiers pour mieux gérer votre épargne.",[80,92,103,114,125],{"id":81,"slug":82,"releaseDate":83,"title":84,"type":85,"question":86,"definition":87,"video":88,"cover":89},"prismic.lexicon.ZR2HUxIAACUAuPcT","desinflation",["Date","2026-08-10T06:25:46.618Z"],"Désinflation","lexicon","Qu'est-ce que la désinflation ?",[],"https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Folqwiayb\u002Fproduction\u002F0d6dc8351edda194907055302491c720c8e3c024.mp4",{"_type":12,"asset":90},{"_ref":91,"_type":15},"image-1c6b2b69a08d549b7dd19175ee213addb1060934-506x508-jpg",{"id":93,"slug":94,"releaseDate":95,"title":96,"type":85,"question":97,"definition":98,"video":99,"cover":100},"prismic.lexicon.ZSa7ehAAACMAsIjp","horizon-de-placement",["Date","2026-08-10T06:25:46.618Z"],"Horizon de placement","Qu'est-ce qu'un horizon de placement ?",[],"https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Folqwiayb\u002Fproduction\u002F5488fb92fc66ff10183a092087cd66153d2f9c2b.mp4",{"_type":12,"asset":101},{"_ref":102,"_type":15},"image-ff942951fcc85c50344786e20de4253f0bff79bb-476x476-jpg",{"id":104,"slug":105,"releaseDate":106,"title":107,"type":85,"question":108,"definition":109,"video":110,"cover":111},"prismic.lexicon.ZR6rABIAACMAvjXx","taux-nominal-dune-obligation",["Date","2026-08-10T06:25:46.618Z"],"Taux nominal d'une obligation","Qu'est-ce que le taux nominal d'une obligation ?",[],"https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Folqwiayb\u002Fproduction\u002F1cd7fe386d0ea4c3ca83b8afed5a5e3bdd6e4f47.mp4",{"_type":12,"asset":112},{"_ref":113,"_type":15},"image-f4a05bf34f5b2d08ae71203063bfe8a2464b94ba-982x988-jpg",{"id":115,"slug":116,"releaseDate":117,"title":118,"type":85,"question":119,"definition":120,"video":121,"cover":122},"prismic.lexicon.ZR6o8hIAACIAvizV","duration",["Date","2026-08-10T06:25:46.618Z"],"Duration","Qu'est-ce que la duration d'une obligation ?",[],"https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Folqwiayb\u002Fproduction\u002F17b4ca90aa49aea53e3af30ba2fc36fbc3fed710.mp4",{"_type":12,"asset":123},{"_ref":124,"_type":15},"image-84b0f9757f6c56dbd34c77e70bdf58bbca477c2d-1002x998-jpg",{"id":126,"slug":127,"releaseDate":128,"title":129,"type":85,"question":130,"definition":131,"video":137,"cover":138},"prismic.lexicon.ZR6v8hIAACIAvk3j","vix",["Date","2026-08-10T06:25:46.618Z"],"VIX","Qu'est-ce que le VIX ?",[132],{"_key":133,"spans":134,"text":135,"type":136},"GZA8SAwsKh0Q7JjyWhTcXn",[],"Le VIX est l'indicateur de volatilité le plus connu du marché !","paragraph","https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Folqwiayb\u002Fproduction\u002F444490a73a27167bdfa90dcea5ff4f595449ddac.mp4",{"_type":12,"asset":139},{"_ref":140,"_type":15},"image-75f68d8560d221ae36695abe010f28b210938abf-1080x1080-jpg",[142],{"title":143,"folder":144},"Gestion",{"title":20,"slug":19},{"id":146,"slug":147,"title":148,"type":149,"headline":150,"image":151,"color":155,"folders":156,"date":163,"metaDescription":-1,"content":164},"prismic.article.ZkNoJREAAC4A5_Au","lantiseche-des-obligations","L'antisèche des obligations","article","Dans cet article, vous en apprendrez plus sur les obligations. ",{"_key":152,"_type":12,"asset":153},"k46r",{"_ref":154,"_type":15},"image-12383845a60986136ec41bdde56a10f5983de5b9-1000x1000-png","#B1BBF2",[157],{"_createdAt":4,"_id":5,"_rev":6,"_type":7,"_updatedAt":4,"color":158,"image":160,"order":16,"slug":162,"title":20},{"_ref":159,"_type":15},"prismic.color.ZGuPdxAAACAAgVlY",{"_type":12,"asset":161},{"_ref":14,"_type":15},{"_type":18,"current":19},["Date","2024-05-14T00:00:00.000Z"],[165,182,188,215,242,248,268,272,292,296,309,313],{"_key":166,"_type":167,"children":168,"style":181},"k46v","block",[169,173,178],{"_key":170,"_type":171,"text":172},"k46s","span","Une obligation est une ",{"_key":174,"_type":171,"marks":175,"text":177},"k46t",[176],"strong","part d’emprunt",{"_key":179,"_type":171,"text":180},"k46u"," dont l’émetteur peut être l’Etat, une collectivité locale, ou bien une entreprise. Les porteurs d’obligations reçoivent un intérêt versé périodiquement appelé coupon. Ils sont remboursés suivant des modalités fixées dès l’émission (échéance, montant).","normal",{"_key":183,"_type":167,"children":184,"style":181},"k46x",[185],{"_key":186,"_type":171,"text":187},"k46w","Il existe différents types d’obligations, qui peuvent être classifiées selon la qualité de l’émetteur ou selon les modalités de versement des intérêts.",{"_key":189,"_type":167,"children":190,"style":181},"k475",[191,194,198,201,205,208,212],{"_key":192,"_type":171,"text":193},"k46y","Si l’on regarde qui est l’émetteur, il y a 3 types d’obligations : les ",{"_key":195,"_type":171,"marks":196,"text":197},"k46z",[176],"obligations d’Etat",{"_key":199,"_type":171,"text":200},"k470",", utilisées pour financer ses dépenses, elles sont sûres car offrent une certaine garantie de remboursement. Il existe aussi les ",{"_key":202,"_type":171,"marks":203,"text":204},"k471",[176],"obligations émises par une entreprise privée",{"_key":206,"_type":171,"text":207},"k472",", dites “corporate” ou “credit”, dont les garanties dépendent de la santé financière de l'entreprise. Enfin, le dernier type sont les",{"_key":209,"_type":171,"marks":210,"text":211},"k473",[176]," obligations émises par une entreprise du secteur public ou une collectivité locale",{"_key":213,"_type":171,"text":214},"k474",", offrant une sécurité moins forte que celles de l’Etat.",{"_key":216,"_type":167,"children":217,"style":181},"k47d",[218,221,225,228,232,235,239],{"_key":219,"_type":171,"text":220},"k476","Si l’on s’intéresse aux modalités de versements, il existe aussi 3 types d’obligations : les ",{"_key":222,"_type":171,"marks":223,"text":224},"k477",[176],"obligations à taux fixe",{"_key":226,"_type":171,"text":227},"k478",", les plus classiques, versant un intérêt annuel dont le taux est fixé lors de l’émission, les ",{"_key":229,"_type":171,"marks":230,"text":231},"k479",[176],"obligations à taux variable",{"_key":233,"_type":171,"text":234},"k47a",", leur coupon est indexé sur un taux court terme, et les ",{"_key":236,"_type":171,"marks":237,"text":238},"k47b",[176],"obligations à coupon zéro",{"_key":240,"_type":171,"text":241},"k47c",", où aucun coupon n’est versé durant toute la durée de vie de l’obligation, ils sont capitalisés et versés à l’échéance.",{"_key":243,"_type":167,"children":244,"style":181},"k47f",[245],{"_key":246,"_type":171,"text":247},"k47e","Il existe aussi un dernier type d’obligation : les obligations convertibles, pouvant être converties en actions de l’émetteur.",{"_key":249,"_type":167,"children":250,"style":181},"k47l",[251,254,258,261,265],{"_key":252,"_type":171,"text":253},"k47g","Enfin, dans le cadre d'organismes de placement collectif obligataires, il existe plusieurs stratégies de gestion. La première correspond à investir dans des titres ",{"_key":255,"_type":171,"marks":256,"text":257},"k47h",[176],"“Investment Grade”",{"_key":259,"_type":171,"text":260},"k47i",", peu risqués, dont le rendement général ne sera pas très élevé, ou dans des obligations ",{"_key":262,"_type":171,"marks":263,"text":264},"k47j",[176],"“High Yield”",{"_key":266,"_type":171,"text":267},"k47k",", plus risquées, mais rapportant plus. ",{"_key":269,"_type":12,"asset":270},"k47m",{"_ref":271,"_type":15},"image-3ec587688f1dc2c55c283a834749dc8fd6bf8d37-589x646-jpg",{"_key":273,"_type":167,"children":274,"style":181},"k47s",[275,278,282,285,289],{"_key":276,"_type":171,"text":277},"k47n","La deuxième est d’investir dans des ",{"_key":279,"_type":171,"marks":280,"text":281},"k47o",[176],"Green bonds",{"_key":283,"_type":171,"text":284},"k47p",", emprunts utilisés pour financer des projets “verts”. La troisième stratégie est la ",{"_key":286,"_type":171,"marks":287,"text":288},"k47q",[176],"gestion “Crossover”",{"_key":290,"_type":171,"text":291},"k47r",", investissant des titres entre le bas de l’Investment Grade et le haut du High Yield, segment peu saturé et au bon rapport risque\u002Frendement (zone encerclée dans l'image ci-dessous). ",{"_key":293,"_type":12,"asset":294},"k47t",{"_ref":295,"_type":15},"image-c75a5304114591b42822f222f123cb1515d2f6ff-604x640-jpg",{"_key":297,"_type":167,"children":298,"style":181},"k47x",[299,302,306],{"_key":300,"_type":171,"text":301},"k47u","Enfin, la dernière stratégie propose d’investir dans des ",{"_key":303,"_type":171,"marks":304,"text":305},"k47v",[176],"obligations indexées à l'inflation",{"_key":307,"_type":171,"text":308},"k47w",", dont le montant du coupon n’est donc pas connu au moment de la souscription.",{"_key":310,"_type":12,"asset":311},"k47y",{"_ref":312,"_type":15},"image-42b8fc1b8d4f61de0ed13cfdb4ab6eb465856cec-522x493-jpg",{"_key":314,"_type":12,"asset":315},"k47z",{"_ref":316,"_type":15},"image-04e2b44db3ddd1311ef1be43340dd937070b2ba6-6486x1081-jpg",[318,328,338,347,355,364,373,381],{"id":319,"slug":320,"title":321,"type":149,"headline":322,"image":323,"color":9,"folders":326,"date":327,"metaDescription":-1,"content":-1},"02347960-645b-4f76-960b-ab2c1a0c7e41","les-trois-actualites-de-la-semaine-au-16-07-2026","Les trois actualités de la semaine au 16.07.2026","Retour en force des small caps aux États-Unis, faillites des entreprises toujours nombreuses en France, et nouvelle salve de droits de douane américains direction le Brésil.",{"_type":12,"asset":324},{"_ref":325,"_type":15},"image-663434c2ac11d45174c568bfee34459d4c3a0f03-1000x1000-png",null,["Date","2026-07-16T13:38:00.000Z"],{"id":329,"slug":330,"title":331,"type":149,"headline":332,"image":333,"color":336,"folders":326,"date":337,"metaDescription":-1,"content":-1},"0da32f0b-4b69-43ee-acf1-eddfc788409d","marches-emergents-et-si-le-centre-de-gravite-se-deplacait","Marchés émergents : et si le centre de gravité se déplaçait ? 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",{"_type":12,"asset":344},{"_ref":345,"_type":15},"image-c206527096322dcd8fbeeec8ceb67b7316ff4cd9-1000x1000-png",["Date","2026-05-22T10:10:00.000Z"],{"id":348,"slug":349,"title":350,"type":149,"headline":351,"image":352,"color":9,"folders":326,"date":354,"metaDescription":-1,"content":-1},"009a7ac3-8d37-41e4-9f26-994fbbe155bf","les-trois-actualites-de-la-semaine-au-13-05-2026","Les trois actualités de la semaine au 13.05.2026 ","Les records tombent cette semaine : les bourses mondiales sont en forme malgré la crise pétrolière, tandis que celle de nature politique au Royaume-Uni fait hausser le gilt. Pour ce qui est du crédit privé Outre-Atlantique, retour à la normale.",{"_type":12,"asset":353},{"_ref":325,"_type":15},["Date","2026-05-13T12:41:00.000Z"],{"id":356,"slug":357,"title":358,"type":149,"headline":359,"image":360,"color":336,"folders":326,"date":363,"metaDescription":-1,"content":-1},"081973d9-1ce5-4ed5-a7f9-0bf444cfcff1","les-trois-actualites-de-la-semaine-au-29-04-2026","Les trois actualités de la semaine au 29.04.2026 ","Nouveau bouleversement pétrolier : les Émirats Arabes Unis quittent l'Opep ! Cela voudra sûrement dire statu quo pour les banques centrales jusqu'à nouvel ordre. Bizarrement, les entreprises européenne résistent au conflit.",{"_type":12,"asset":361},{"_ref":362,"_type":15},"image-acecddc46ba79a4bc05699f4875d07dd0282f65d-1000x1000-png",["Date","2026-04-29T08:12:00.000Z"],{"id":365,"slug":366,"title":367,"type":149,"headline":368,"image":369,"color":9,"folders":326,"date":372,"metaDescription":-1,"content":-1},"12217857-134b-4691-aad1-358afa05a97c","les-trois-actualites-de-la-semaine-au-23-04-2026","Les trois actualités de la semaine au 23.04.2026 ","Regain d'optimisme de la bourse New Yorkaise malgré une situation toujours tendue en Iran, qui n'en finit pas de faire hausser les prix de passage du Canal de Panama. Pendant ce temps là, les semi-conducteurs font renouer la croissance sud-Coréenne avec les sommets. ",{"_type":12,"asset":370},{"_ref":371,"_type":15},"image-30da8ea19e9f379cddccef5c5ab519d9d44712c3-1000x1000-png",["Date","2026-04-23T14:31:00.000Z"],{"id":374,"slug":375,"title":376,"type":149,"headline":376,"image":377,"color":9,"folders":326,"date":380,"metaDescription":-1,"content":-1},"08c9c52b-feba-4083-91f0-858b7561fbc3","focus-sur-les-marches-emergents-quelles-perspectives-pour-2026","Focus sur les marchés émergents : Quelles perspectives pour 2026 ?",{"_type":12,"asset":378},{"_ref":379,"_type":15},"image-abddffed075143827900aa0108b17ec3348118d1-2327x2305-png",["Date","2026-01-19T13:22:00.000Z"],{"id":382,"slug":383,"title":384,"type":149,"headline":326,"image":385,"color":9,"folders":326,"date":388,"metaDescription":-1,"content":-1},"1401ecf2-9d88-4b34-abba-26ed842ec172","les-trois-actualites-de-la-semaine-au-08-01-2026","Les trois actualités de la semaine au 08.01.2026",{"_type":12,"asset":386},{"_ref":387,"_type":15},"image-5ae9fc87a6c423f973444ef56de91fa5262894ab-1000x1000-png",["Date","2026-01-09T10:11:00.000Z"]]