Alleluia. the wave ofUS inflation the retreat begins. In July, consumer prices rose by 8,5% from the previous 9,1%. Decisive, as usual, the decline of price of gasoline, dropped in many states to below 4 dollars a gallon, the "right price" in the eyes of consumers, a precious victory for President Biden and the Democrats who are once again hoping for a comeback against Donald Trump targeted by the FBI. The figure blew up Wall Street: the Nasdaq, up 20% from the lows of June, has exited the bear area, there is hope again for a less severe Fed, which will settle for a half point rate hike in September and nothing more.
Evans (Chicago Fed): rates at 3,5% at the end of the year
Don't count on it, they reply Charlie Evans e Neel Kashkari, two Fed governors who have already reiterated that the tightening will not be eased. Indeed, the data show that the US economy is growing and can sustain new increases: up to 3,5% by December, 4% next year according to Evans. For now, in short, a team that wins doesn't change.
Japan: more than ten million yen apiece debt
- I lAsian instincts welcomed the US figure with great satisfaction. Tokyo, Sidney, Hong Kong and Seoul close with rial, placing a bondzi between 1,2-1,5%. The Chinese stock exchanges are more cautious: new lockdowns linked to Covid have been triggered in several cities.
- Japanese public debt continues to grow, reaching the astronomical figure of 9,43 trillion dollars, or 1.255,19 trillion yen. Every Japanese man is shouldered 10 million yen in debt.
Facebook places a bond, Walt Disney flies
- American markets are flying: Dow Jones +1,63%, S&P 500 +2,13%. The Nasdaq is up 2,89%.
- There are blue chips of all kinds, from banks (Goldman Sachs +3%) to the big names in technology.
- In great evidence Try +5,8% which successfully closed the placement of its first bond (10 billion dollars).
- In the post-stock market boom Walt Disney +6%, thanks to record accounts and the increase in subscribers (14,4 million) of its platform.
Italy, the shopping cart at its highest level since 1984
- The Eurozone was less euphoric on Wednesday. Slow down the'inflation both in Italy and in Germany, but the "shopping cart" in the Bel Paese reaches its maximum since 1984. And, due to lack of water, the crisis of the Rhine and Danube, the two great lungs of German trade, is getting worse.
- Russia has reopened the taps of the Druzhba pipeline which serves central Europe.
- Milan closes at +0,95%, spread at 211 points. The auction of medium-long term bonds is scheduled for today.
- Oil is down: Brent at 97,05 (-0,4%) and Wti at 91,58 dollars.
- The yield on the 10-year Treasury stood at 2,77%, German Bund at 0,88%, Btp at 2,97%.
- The Euro/Dollar pair is flat at 1,028, -0,17%.
