The Livret A returns to form – Les Echos

he has the Livret A regained favor with investors? This is what suggests the latest figures published by the Caisse des Dépôts. Indeed, after two consecutive months of positive inflows, the Livret A and Livret cousin Sustainability experienced another positive month in May. The deposits exceeded withdrawals of 360 million euros, against 630 million euros in outflows a year earlier. Adjusted for seasonal effects, “ This collection surprises slightly upward, says Robert Marti Pair Council. “ The collection is null ,” explains the expert while the previous month with the same numbers, the firm estimated a corrected collection in negative territory at about 500 million euros.

for the only Livret a, the French have deposited 400 million euros more than they withdrew, against an outflow of 440 million in May 2015. After two months of outflows -in January and February-, hemorrhage on these two books is therefore EUR 620 million since the beginning of the year. In the same period last year, 2.62 billion had been withdrawn. Freehold wickets, total outstanding two booklets amounted to 356.6 billion euros

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Faced with declining wage rate to 0.75% in 2015, investors have certainly preferred to place their savings on life insurance products, which offer higher yields. But in a very low interest rate environment, the French may have realized that pay 0.75% net of tax remains interesting. Above all, the psychological effect of the decline in income last summer is about to come to an end: “ Livret A rate reacts much, but after a period of 7 to 8 months, the epidermal reaction investors began to fade “ says Robert Marti.

In fact, over the year, outflows expected to reach 4.3 billion euros, capitalized interest, against 8 billion last year, according Pair Council. Provided that the rate of remuneration has not yet revised down this summer as currently advocated automatic calculation formula. However the approach of the presidential election is not favorable to such a measure. In addition, under the influence of the monetary policy of the ECB and the rebound in oil prices, inflation expectations for January 2017 will be around 1%. The rate should go up on 1 February 2017 at 1.25% according to the formula

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