“It has the potential to be catastrophic,” an unprecedented event that could lead to a financial crisis and recession that could echo the events of 2008, if not worse. Thus the US Treasury on the scenario of a possible default. The United States is risking the first bankruptcy in its history: "It would be dramatic," underlined President Obama. Christine Lagarde, head of the IMF, increases the dose: "The American shutdown is negative, but a failure to increase the debt ceiling would be even worse: the impasse on the debt could have an effect on the global economy". The deadline for raising the debt ceiling is October 17. Meanwhile, the US has announced that the data on employment for the shutdown will not be released tomorrow.
In this climate, the stock exchanges closed in negative territory, with Wall Street leading the declines. At the close of Europe both the Dow Jones and the Nasdaq dropped more than one percentage point. Milan loses 0,44%, Paris -0,7%, Frankfurt -0,37%, Madrid -0,58%. London against the trend at +0,18%.
The Btp-Bund spread stands at around 256 basis points. Today Spain has placed 10-year government bonds with a rate at its lowest since September 2010 at 4,269% from 4,5% in September and five-year Bonos always with declining yields. Paris also obtained lower yields for the ten-year bond placed today: 2,37%, 20 basis points below the previous auction with demand equal to 9,6 billion.
However, the data on claims for unemployment benefits in the United States arrived from the USA, which rose by 1.000 units to 308.000 last week, better than analysts' expectations. The figure is compiled by individual states and therefore not crippled by the federal government's lockdown now in its third consecutive day. The Ism US services index, on the other hand, was worse than expected, falling to 54,4 in September. The good news from China is the rise in the official non-manufacturing PMI index, which rose to 55,4 points in September from 53,9 August, reaching the highest level in the last 6 months.
In Piazza Affari, the Bpm (+3,8%) is highlighted. The rest of the banking sector closed positive overall with the exception of the largest banks of Unicredit and Intesa. Meanwhile, writes the Bloomberg agency, the governing council of the European Central Bank would have appointed a technical committee to study the size and maturity of a new long-term liquidity operation such as the two past Ltros, or alternatively other instruments to provide liquidity to banks .
Finmeccanica is up (+2,9%) after an intraday leap of over 7% on rumors that the agreement for the sale of Ansaldo Energia is now near. The board of directors of Finmeccanica is convened for tomorrow at 16 pm, on whose table the offer of the Italian Strategic Fund (FSI) for the acquisition of Ansaldo Energia will arrive. Ansaldo Sts +1,79%. Mediaset slows down and gains 1%. Mediolanum +2,34%. Fonsai also did well, +2,65%.
Telecom +1,6% after Bernabè's resignation. At the bottom of the Ftse Mib Cnh Industrial (-3,18%). Fiat -1,47%, Exor -1,29%. The Fiat galaxy discounts a report by Fitch that threatens a rating downgrade even with the scenario of a Chrysler IPO and Marchionne's confirmation on the lack of progress with Veba, while the CEO Marchionne confirms that there will be no progress with Veba are steps forward. Prysmian (-1,53%) and Terna (-1,17%) also down.
