Wyllian Capucci
09/07/2021
Uneven
The epicenter of concern about growth is Asia, where vaccine progress isbeing crushed by the resurgence of the coronavirus. The slowdown in the growth ofloans in India and Chinese crackdown on technology companies are increasingfears that post-pandemic recovery in the region will drag on rather than accelerate.Growth prospects in the United States remain much stronger, withJPMorgan Asset Management, BlackRock Inc. and Morgan Stanley Wealth Managementsaying that there are reasons for optimism
At home and away
President Joe Biden will sign a comprehensive executive order designed to promote thecompetition among American industries today. One of the targets of the order will be themaritime and rail transport industries, which have become increasingly owned andmonopolized by foreigners. There is also a request that would give consumersthe goods with “right to repair” they have acquired. On the international front, the governmentmust keep up the pressure on China’s historic human rights violation, with thepresident set to add more entities to the economic blacklist as oftoday.
Open and close
The divide between the recoveries of developed and emerging countries from the pandemic isbecoming increasingly sharp. Thailand has banned meetings of more than fivepeople and introduced a nighttime curfew, as the rise in infections affects thethe country’s hospital system. Parts of South Africa are running out of coffins asthat increase Covid-19-related deaths. Of the last million deaths causedby the disease worldwide, 44% occurred in India and Brazil. The US, where more than330 million doses of vaccines were administered, accounting for only 4%of the last million deaths
Mixed markets
Global equities are ending the week a little disoriented after volatilityof the last days. Overnight, the MSCI Asia Pacific index fell 0.4%, while the indexJapan’s Topix closed 0.4% below. In Europe, the Stoxx 600 Index was 0.9% higher at6:50 am, Brasília time, with all sectors of the industry in green, as the gainswere led by the mining companies. The S&P 500 futures pointed to a smallhigh at the opening, the 10-year Treasury yield dropped to 1.341%, oil wasclose to $74 a barrel and gold remained above $1,800 an ounce
Coming
The publication of the latest minutes of the European Central Bank at 8:30 am will likely beovershadowed by the central bank’s announcements yesterday. Canada releases its numbers fromJune unemployment at 9:30 am. US wholesale inventories for May are at 11 am andBaker Hughes’ last deck count is 2:00 pm. The G-20 meeting offinance ministers and central bankers in Venice is expected today to support ainternational corporate tax agreement
