Wyllian Capucci
13/08/2020
Logistics
Fears are rising that the rapid spread of the delta variant could lead toto a repeat of last year’s navigation nightmares. The partial closing of theThe world’s third busiest container port yesterday is putting pressure onsupply chains already stretched before the important shopping season. The centerLos Angeles is already gearing up for another potential decline in China’s traffic. Youresulting delays could also increase the price of container freight, which is alreadymore than 220% this year.
Third shot
The US Food and Drug Administration authorized the administration of a third doseof Covid vaccine to clinically vulnerable people. The United States has already managedenough injections to cover 55% of the population, with the rate of inoculation increasingrecently, after slowing down in spring. Facebook Inc. became the lastlarge employer to postpone the date of return to the office. In Asia, the outbreak in Japancontinues to worsen with the economic recovery threatened by the low rate ofvaccination
Panorama
Concerns about global growth prospects can be seen clearlyin the price of oil, with the IEA warning yesterday of a sharp drop in the forecast.demand this year and a market surplus in 2022. OPEC cut its forecast fordemand for oil for the next year. Restrictions in Asia are already leading togrowth expectations reduced as Malaysia’s central bank cutsprospects for the second time this year
Still quiet markets
Global equities remain little moved with little news. During the night, theMSCI Asia Pacific index fell 0.3%, while Japan’s Topix index closed up 0.2%.In Europe, the Stoxx 600 Index gained 0.2% at 6:50 am EDT, while theindicator continued to rise. The S&P 500 futures pointed to a smallmove to the green at the opening, the 10-year Treasury yield was at1.346% and gold won.
Coming
The July US import and export price indices are at 9:30 am. OThe University of Michigan’s August consumer opinion report is at 11:00 am. THEBaker Hughes probe’s latest count is at 14:00. Trip.com Group Ltd. isbetween companies reporting results
Source:https://wintrademarkets.com/
