"The financial chaos is putting the UK's financial stability at serious risk." So, without sugaring the pill, the Bank of England raised the alarm on the crisis of the gilts, the Treasury bills of His Majesty whose yield, well above 4%, competes with our domestic securities. Despite the rain of purchases (10 billion pounds a day) to defend the quotations and thus avoid the collapse of pension funds urged to continue "margin calls" by the banks. On the day of publication of the Outlook of Monetary Fund, never so negative, the English public finance crisis, perhaps the most serious since the days of Lehman Brothers, is the tip of the iceberg of the "perfect storm" that threatens the markets. To complete the picture, at 14 i G7 leaders hold virtual meeting to respond to Putin's new attacks on Ukraine. Given the frame, deep red is a given.
It gets worse Business Square -1,8%, bringing up the rear of the Stock Exchanges of the Old Continent.
Il return of the BTPs in ten years it rises to 4,72%. The effect of the unconfirmed opening of Germany to a joint intervention on energy is vanishing. The spread it goes back to 242 from 224 last night. 2,32-year German Bund at XNUMX%.
The European equity indices fell for the fifth consecutive day, resigned to new rate increases and the positive result of the recession, now admitted by all (except some members of the Fed): Eurostoxx -1,3%.
Index futures S & P 500 and Nasdaq they are down by 0,9%. While awaiting JP Morgan's accounts, due out on Friday, Jamie Dimon expects US stock markets to lose another 15/20 percent before stabilizing on new balances.
The 4-year Treasury Note is just below 2010%, a level of yield not seen since 4,34. The two-year Treasury Note, at 2007%, once again reviews the XNUMX yield.
OECD: super-index shows growth slowdown
The OECD certifies the slowdown of the global economy “due to high inflation, a rise in interest rates and a decline in the stock market”. Among the main OECD economies, “the indicators continue to signal a slowdown in growth in Canada, the United Kingdom and the United States, as well as in the euro area, especially in France, Germany and Italy”. The super-index, on the other hand, forecasts a "stable growth dynamic" for Japan.
Euro and oil prices down, gas up
The recovery of the Covid 19 in China and the recession in Europe weigh on the Petroleum: Brent oil and Wti -2%.
Natural gas European +4% to 160 euros per mWh.
Cross euro dollar -0,3% to 0,969. The dollar is on the fifth consecutive day of appreciation.
Piazza Affari: the worst in Europe, eyes on Mps
Among the stocks in positive ground a Business Square stand out Campari + 1,3% Prysmian e Recordati. Brake after a galloping start Diasorin +0,1%, supported by the M&A of the sector: The Wall Street Journal wrote yesterday of a deal between two diagnostics companies, Qiagen and Bio-Rad. In Frankfurt, Qiagen stock is up 7%.
Under fire stm -1,83% after Nasdaq sales. Taiwan Semiconductor Manufacturing Company, lost more than 7% on the effect of new restrictions on the sale of chips to Chinese companies announced by US authorities on Friday evening. For the same reason, two other giants of the chip industry, Samsung Electronics and SK Hynix, also fell.
Spotlight on Mount Paschi. +1,47% just a few hours before the board of directors which should ratify the signing of the assistance and guarantee agreement for the 2,5 billion euro capital increase.
He suffers Tim -3,31%. CDP, Macquarie and Open Fiber have requested thetime extension foreseen for the dossier on the single network given the extent of the transaction and the time required to analyze the information received from Tim.
