Stock exchanges are suffering, capital stocks up on bonds before the next rise in yields. Yesterday about twenty US company, including Wal-Mart and Mc Donald's, have issued new corporate bonds for a total amount that is close to i 40 billion dollars, a record in the last twelve months. With rising returns, in line with what happens to ai Treasury bonds: 3,35-year is at its highest since June at 3,21%, from 3,48% the day before; the thirty-year yield went as high as XNUMX%, the highest in the last eight years. The wave is also rising in the Eurozone: yesterday evening the yield German ten year anniversary rose to e.163%, the BTP it is back close to 4% in the expectation of the discounted rise in official rates by the ECB: 75 points, according to the most widespread forecasts even if, judging by unconfirmed rumors, Christine Lagarde would like to limit herself to 0,50.
Expected opening in deep red. The dollar crushes everyone
But in the aftermath of the seventh consecutive session of decline of the Nasdaq, the climate seems marked: the future of the index Euro Stoxx 50 loses more than 1%, anticipating another difficult day awaiting a European strategy to respond to Russian blackmail. The S&P500 future is down 0,3%.
The superdollar crushes both the currencies of emerging and developed countries. L'euro it is down 0,3% to 0,989. Japan's yen and South Korea's won fell 1%.
Beijing's exports are slowing down. GDP will rise by only 2,7%
The quotation of the Chinese currency slips towards the psychological threshold of 7 yuan per dollar, under fire after the new disappointing data on the trade balance. L'Beijing exports it rises by only 7% (it was +18% a year ago). Also under forecast cheap imports, practically equal to August 2021. The trade surplus rises to almost eighty billion dollars, about twenty less than the previous month: the record level was reached in July
Nomura has tweaked his predictions on the GDP of China, already cut last month. The Japanese investment bank estimates +2,7%, from the previous +2,8%. In the report, economists report that 12% of gross domestic product is in some way affected by health policy measures related to the pandemic.
Stock listings are weak: Nikkei -1% Hang Seng of Hong Kong -1,5%, CSI300 of the Shanghai and Shenzhen parity price lists, Kospi of Seoul -1,8%, BSE sensex of Mumbai -0,5%.
Down the Big on Wall Street, today the new Apple products
The US markets were also mixed yesterday, grappling with discordant data: the ISM manufacturing index is significantly improving, but the S&P services offer a much less brilliant picture.
When in doubt, Wall Street expects a tough Fed stance: Dow Jones -0,41% S&P -0,55% Nasdaq -0,71%.
The Big names most linked to the trend in the cost of money are down: Amazon e Microsoft -1% Apple Lossless Audio CODEC (ALAC), -0,8% on the eve of the presentation of new products, the first ones made in India as well as in China.
The Beige Book, the most faithful study on the state of the American economy, will be released tonight.
The BTP Green Bond flies, demand over 40 billion.
Europe yesterday little moved on the eve of the meeting in Frankfurt, Pitta Milano, the spread little moved at 232.
Race for the new Btp Green maturing in March 2035 launched yesterday by the Treasury: overall demand exceeded 40 billion euros.
Gas at 239 euros in megawatts. Esma will supervise the square in Amsterdam
At the Amsterdam gas exchange, the reference future closed at 239 euro MWh. Two days before the extraordinary meeting of European energy ministers, the ambassadors are examining the drafts of the contingency plan for the winter. To ensure better functioning of the Title Transfer Facility (TTF), the Amsterdam market where the European reference price of natural gas is set, Brussels is exploring the hypothesis of subjecting it "to financial supervision" by the ESMA, "to avoid possible speculative moves.
Sul gas price containment imported from Russia via gas pipelines there are two hypotheses, a real ceiling, or the establishment of a single European entity to purchase gas at a certain price, which should not fall below 35 euros per megawatt hour. The hypothesis of creating a red zone for the countries most exposed to cuts in Russian supplies is also being examined, including Italy, where a temporary administered price for gas linked to the performance of the TTF could be set.
The draft also mentions the possibility of temporarily limiting the price of electricity produced from sources other than gas, which would make it possible to obtain resources to amortize bill costs: the extra profits made by the large energy companies would be used to consumer subsidies.
Petroleum WTI at 85,3 dollars, -1,7%. Brent at $91,5.
Gold close to the medium-term lows of 1,692 dollars an ounce, -0,5%.
In Piazza Affari: Tim, Anima, Ferragamo
Tension is growing between Vivendi and Cdp on the evaluation of the telecom network. Meanwhile, in a message to the managers of the group, the CEO Pietro Labriola says that the positive trend seen in the first half-year also continued in the months of July and August. “Several investment banks tell us that Tim's average sum-of-the-parts value is well above what they previously told us,” he adds.
stm: Worldwide semiconductor sales climbed 7% in July, slowing from previous months.
Soul Holding will participate in the capital increase of Banca Monte dei Paschi only if the current commercial agreement is extended.
To follow Salvatore Ferragamo, which closed the first half with a net profit for the period of 62 million euros, up by 85,2% compared to the first half of 2021, on revenues of 630 million (+20,3% and +17% on constant exchange rates), above market expectations.
