Wyllian Capucci
12/07/2021
Important meeting
European Central Bank President Christine Lagarde speaking to BloombergTelevision said the July 22 ECB Governing Council meeting will include a review of thefuture guidance of the bank. She also said she hopes the purchase program forCurrent assets run until “at least” March 2022. She said she’s just”cautiously optimistic” about the recovery prospects for the euro area withthe delta variant of the coronavirus posing a threat to efforts to return to lifenormal
Growth
Any investor looking for reasons to worry about prospectsgrowth may point to slowing China’s recovery as aclear sign. Although the country’s economic growth was always expected to fall below theheights reached in the initial recovery, economists say the smoothing of thegrowth came earlier than expected. The Bank’s 50 basis points cutChina’s people in the reserve index of most banks on Friday pointed to thechange in the economic landscape. This adds to the continued repression of the industry.technology, which helped to widen the gap between mega tech stocks.capitalization in China and the United States in at least one year
Tax agreement
As expected, the Group of 20 finance ministers gathered in Veniceendorsed plans for a global fiscal deal. The challenge now is that parliamentsnationals ratify the plan ahead of a summit of leaders in Rome in October. THETreasury Secretary Janet Yellen has begun to set a deadline for when the governmentBiden expects Congress to vote on key parts of the deal. Yellen remains atEurope today, as it tries to persuade EU authorities to abandon its proposeddigital tax on online sales.
Mixed markets
The week is starting with a mixed picture for global equities, with investorsawaiting what promises to be a busy second profit seasonquarter. Overnight, the MSCI Asia Pacific Index gained 1.2% and the Topix index gainedJapan closed 2.1% higher, as stocks in the region reacted to the PBOC’s RRR cut fromFriday. In Europe, the Stoxx 600 Index remained virtually unchanged at 6:50 am,Brasilia time, with travel companies under pressure again. the futures ofS&P 500 pointed to a small bearish move at the opening, the yield of the10-year treasury was at 1.331%, oil fell and gold fell.
Coming
The US Treasury sells $58 billion in three-year notes at 12:30 pm. The report ofJuly WASDE harvest is at 1pm. Minneapolis Fed President Neel Kashkari speakslater. Janet Yellen attends the meeting of Eurogroup finance ministers inBrussels. There are no noteworthy gains today, but this week we see most of theBig Wall Street Banks Reporting Second Quarter Results
Source:https://wintrademarkets.com/
