Wyllian Capucci
06/04/2021
Payrolls
The US added 674,000 new jobs in May, according to the average estimate ofeconomists consulted by Bloomberg. There is a kind of health warning about thisnumber after the big error in the April data, with estimates for the number released at9:30 am Brasília time this morning, ranging from 335,000 to 1 million. was there some reasonfor optimism in yesterday’s ADP data, which showed an increase of 978,000 on sheets ofprivate payments, while unemployment insurance claims numbers fell byfifth week.
Memes
Although the attention of retail investors has been wild week at AMCEntertainment Holdings Inc., all it took was a tweet from Elon Musk to get Bitcoin back oncenter of attention. The world’s largest cryptocurrency fell more than 5% after the CEO ofTesla Inc. tweeted “ #Bitcoin” with a heartbroken emoji and a reference to a letter from theLinkin Park. We would normally add context to all of this in our newsletter,but it stopped making sense some time ago, so ¯ \ _ (ツ) _ / ¯.
Tax businessTreasury Secretary Janet Yellen is in London for a meeting of finance ministers.finance of the Group of Seven (G7) nations. The main topic on the agenda will be the attempt tofind common ground for a global tax agreement, with an agreement that is expectedarrive at the Group of 20 (G20) meeting in July. The UK Chancellor of the Exchequer,Rishi Sunak, is pressing for the meeting to adopt his proposal to impose reportsenvironmental risk requirements for large companies. In the United States, President JoeBiden introduced Republicans to the idea of a 15% minimum tax oncorporations, along with enhanced IRS enforcement efforts.
Calm marketsGlobal equities continue their trend of not doing much this week, while global equitiesinvestors wait for jobs data. Overnight, the MSCI Asia Pacific index fell0.2%, while Japan’s Topix index closed virtually unchanged. In Europe, the IndexStoxx 600 was flat at 6:50 am, with banks being the biggest losers. the futures ofS&P 500 also pointed to no change in the opening, the Treasury yield of10 years was at 1.628%, oil was above $69 a barrel and the bad start of the month ofgold continued.
Coming
Canada also releases its employment report at 9:30 am with a drop in positions andan increase in the expected unemployment rate. Orders for durable goods and factoriesfrom the US for April are at 11:00 am. Baker Hughes’ latest deck count is at3:00 pm The Bitcoin 2021 conference starts in Florida
Source:https://wintrademarkets.com/
