Wyllian Capucci
06/07/2021
15%
The Group of Seven nations have reached an agreement that supports the United States’ request fora minimum corporate tax rate of “at least 15%” on earningsforeign. Although the main details still need to be worked out and more nationsneed to sign, the agreement is being hailed as an unprecedented step, with theTreasury secretary Janet Yellen, calling it a “renaissance of multilateralism”.Places that offer beneficial tax arrangements for global corporations such as Ireland, Switzerlandand Hong Kong commented on the changes and how they intend to defend their positions.
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Yellen said President Joe Biden’s $4 trillion spending plans should beimplemented, even if they trigger inflation and higher interest rates. In declarationsto Bloomberg News during her return from the London fiscal meeting, Treasury Secretarysaid that ending up in a “slightly higher interest rate environment would, in theindeed, an advantage from the society’s point of view.” Not everyone shares the opinionYellen’s on how inflation can be benign, even with Roger Bootle, who literallywrote the book about the death of inflation, now thinking it lives again
Nice to tender
The young and extremely popular president of El Salvador, Nayib Bukele, said his countrywould legalize Bitcoin while speaking on a video stream at the conferenceBitcoin 2021 in Miami. The largest cryptocurrency has not recovered much from the news andremains close to $36,000 this morning amid fears of further crackdowns in theChina and a report by Goldman Sachs Group Inc. that suggests institutional adoption canbe too far away.
Calm markets
Global equities remain in turmoil this morning as investors remain littleinspired by any of the political developments over the weekend. During the night,the MSCI Asia Pacific index remained unchanged, while Japan’s Topix index closed.less than 0.1% above. In Europe, the Stoxx 600 Index changed little at 6:50 amBrasília, with mining companies being the biggest losers. The S&P 500 futures pointed toa small downward movement at the opening, the 10-year Treasury yield was at1.579%, Crude Oil retreated after briefly hitting $70 a barrel and Gold fell.
Coming
It’s also a quiet day in terms of data, with consumer credit for April at16h being the only noteworthy disclosure. The advice of the International Energy AgencyAtomic meets today, as negotiations with Iran are expected to resume at the end of thisweek. The Apple Inc. developer conference starts and runs through Friday. the domeVirtual Commodity Trading Week begins
Source:https://wintrademarkets.com/
