Wyllian Capucci
06/23/2021
Growth
This morning’s Purchasing Managers’ Indices showed the area’s private sectorof the euro growing at the fastest pace in 15 years , with the composite measurerising to 59.2 in June. The reading for the UK was even stronger,reaching 61.7 with the survey data pointing to the increase in the costs ofinputs. The story in Japan was less optimistic as the measurespandemics continued to overwhelm activity. PMI numbers for the economyMaps are published at 10:45 AM EDT.
Inflation?
This morning’s UK data may heighten concerns about theinflation ahead of the Bank of England policy decision on Thursday. In the US, theFed chairman Jerome Powell said once again that excess inflationit will likely reverse as the economy continues to reopen. he, in theHowever, he acknowledged some uncertainty, saying that the engines of inflation “werebigger than we expected and may be more persistent than we expected.” ONew York Fed President John Williams said that any rate hikeit is “far in the future”
Vaccines
The race back to Wall Street offices is coming with somecaveats, with Morgan Stanley planning to allow employees onlyvaccinated at its facility in New York. This follows similar movesof Bank of America Corp. and BlackRock Inc. At the global launch of the vaccine, more than2.7 billion doses have already been administered, with the US accounting for 319millions. A side effect of the pandemic reported yesterday is the drop in the rate ofbirth rate in the United States.
Calm markets
Global stock markets continue to do very little. During the night, theMSCI Asia Pacific index added 0.3%, while Japan’s Topix index closed0.5% below. In Europe, the Stoxx 600 Index fell 0.3% at 6:50 am, with retailers betweenthe worst performers. The S&P 500 futures pointed to little change in theopening, the 10-year Treasury yield was at 1.473%, oil wasclose to $73.50 a barrel and gold rose
Coming
The US current account for the first quarter is at 9:30 am. PMIs are at 10:45 am and theNew home sales figures for May are at 11:00 am. the oil marketwill watch the stock data at 11:30 am for signs of a decline. THEFed Governor Michelle Bowman, Atlanta Fed President Raphael Bostic,and Boston Fed President Eric Rosengren speak later. US sells $61 billion in 5-year notes and $26 billion in 2-year FRNs at 2:00 pm.
Source:https://wintrademarkets.com/
