Wyllian Capucci
29/06/2021
Payments
As expected, the big Wall Street banks are celebrating their successin the latest Federal Reserve stress test, announcing more dividends.tall. Morgan Stanley doubled its quarterly payment and plans up to $12 billionin repurchases with Goldman Sachs Group Inc., Bank of America Corp. it’s theJPMorgan Chase & Co. also increasing shareholder payouts. CitigroupInc. was the exception in keeping its dividends stable. Although investors haveliked the news and pressured bank share prices in negotiationspost-market, there is a risk that higher payouts will lead to more political scrutiny.
Delta
Nearly half of Australia’s population is trapped as the country struggles to contain thepropagation of the delta variant of the coronavirus. Indonesia is imposing controlsstiffer as the more infectious strain spreads. The financial assets ofregion are under pressure as growth prospects worsen, with thecurrency weakness and an indicator of Asian stocks heading towards theweakest closing in seven months. In Europe, travel and leisure actions aretrading lower this morning after Spain announced it wasremoving the UK from your unrestricted travel list. In the United States, theLos Angeles County Department of Public Health strongly recommendedthat people wore masks indoors while the delta variantspread
Oil meeting
Fears about the resurgence of the pandemic in Asia, combined with blockadesthat undermine demand, are complicating this week’s meeting of OPEC and itsallies. The joint technical committee should recommend that ministers agree toan increase in production today, with the full OPEC+ meeting on Thursday. OWest Texas Intermediate barrel price for August delivery has dropped to aboutUS$72.50 as demand prospects remained uncertain. The demandfor immediate oil, however, remains robust with physical marketsclamoring for an offer
Mixed markets
With the end of the second quarter in sight and fears about the delta variant dominatingin Asia, investors seem wary of adding more risk. During the night,the MSCI Asia Pacific index fell 0.6%, while Japan’s Topix index closed 0.8%bellow. In Europe, the Stoxx 600 Index gained 0.3% at 6:50 am EDT, withvery strong consumer confidence numbers helping to keep stocks in thegreen. S&P 500 futures reversed previous gains to point tolittle change in the opening, the 10-year treasury yield was at 1,480% andgold was lower
Source:https://wintrademarkets.com/
