Wyllian Capucci 25/08/2021
Exodus
The Biden government is asking aid organizations to be readyto resettle up to 50,000 Afghan refugees, while the US accelerates flights toout of Kabul before next week’s deadline for evacuations. Although the presidentJoe Biden still resists efforts to extend the deadline beyond August 31, heordered its national security team to propose contingency measures in casea postponement may be necessary. Meanwhile, China is trying to establish tiescloser with the Taliban, as the country has its eye on what could be as much as $1 trillionin mineral deposits and possibly the largest reserves of lithium in the world.
The door reopens
There was some relief for the stressed shipping lanes with the announcement that theMeishan terminal in China’s second busiest port has reopened.It will probably take a while for congestion to subside, with ratesof containers in the Pacific remaining very high. Speaking of high, the numberof people hospitalized with Covid in the United States remains very high, withmask mandates before the reopening of schools becoming more and more acontroversial issue. The National Rifle Association canceled its annual meeting
Resolution
House Speaker Nancy Pelosi struck a deal with moderate Democratsthat allows lawmakers to move ahead with Biden’s $4.1 economic planstrillions. With one of the obstacles to a massive increase in federal spending eliminated,attention today will be on Treasury auctions, including the sale of $61 billion infive-year notes, with recent operations showing some of the biggest demandsin more than a decade
Calm markets
The lack of any major factor ahead of Friday’s Jackson Hole speech byFederal Reserve Chairman Jerome Powell means global stocks areusually calm. Overnight, the MSCI Asia Pacific index added 0.2%, while theJapan’s Topix index closed 0.1% higher. In Europe, the Stoxx 600 Index gained 0.1% at6:50 am, Brasília time. S&P 500 futures pointed to a slight movementfor green at the opening, the 10-year Treasury yield was at 1.297%, theoil fell and gold fell.
Arriving
Durable and capital goods orders for July are at 9:30 am. The inventory report ofCrude oil at 11:30 am is expected to show another drop in inventories. Treasury salesare at 2pm. Snowflake Inc., salesforce.com Inc. and Dick’s Sporting Goods Inc. are among thecompanies reporting the results
Source:https://wintrademarkets.com/
