If the Swiss are also afraid of inflation, then the situation is really serious. Was the surprise rate hike decided by the Swiss National Bank yesterday triggering the new wave of selling on the markets which nullified the benefits of the rebound on the eve.
The shares thus return to suffer. But not just for inflation. The wind of the recession pushes the markets to give some consideration also to bonds, pushing down US 3,25-year yields to 3,5 from XNUMX%. It benefits the BTP, which closed the day at 3,73%, after exceeding the 4% mark. Thus the spread decreases 205 points from the peak of 250 reached on Tuesday.
The only positive note of yet another black day is that the agreement announced by the ECB has withstood the impact with the markets. According to Bloomberg, the new anti-spread shield being studied by the ECB will be aimed at avoiding new rounds of selling on peripheral stocks.
But the anti-inflation cure continues, with somewhat bitter effects for everyone. After yesterday's increase in the cost of money in Switzerland and the United Kingdom, 45 countries have raised the cost of money in 2022. Only Tokyo has so far resisted as the last samurai. At 11am today it will be known whether the BoJ has decided to increase government bond yields to 0,25% or whether it will insist on the policy of sub-zero rates. However it turns out, shocks in the yen-dollar relationship and new turbulence are expected.
At the end of a dramatic week, it's hard not to agree with Oanda's Jeffrey Halley: “Even the most avid equity buyers are starting to realize that central banks are ready to push the world towards a slowdown and a possible recession to deal with inflation”.
È the volatility the true queen of the markets in the most turbulent seasons. This morning, after the storm, futures announce an opening rise: the Nasdaq anticipates a 1,1% rebound this afternoon. The Eurostoxx 50 futures scores +0,7%. Then, later in the day, we'll see.
Yesterday the Bear's paw made itself felt on all price lists, starting from the European stock exchanges. Business Square (-3,32%) reset the recoveries of the eve, falling below 22 thousand. Losses over 3% even for Frankfurt, London e Zurich. The worst was Amsterdam, bent by the new wave of technology sales.
To make matters worse, the new one increase in European natural gas (+3%) after the cuts imposed by Moscow "for technical reasons". Mario Draghi's analysis is dry: “We believe that these are lies. In reality there is a political use of gas, just as they are using wheat for political purposes”.
But continues, as already mentioned, the recovery of government bonds of the euro area. This morning the yield of the BTP restarts from 3,73%. Spread at 202 basis points. The ECB will inevitably raise rates more slowly than the Fed, given the different economic situation in the euro zone, Italian Prime Minister Mario Draghi told reporters during a visit to Kiev. “Clearly the pace of adjustment can only be more gradual, I think that's what the ECB has done,” he added.
The black jersey of the day is up to Nasdaq (-4,08%), dropped to the levels of September 2020. But it's not much better at Dow Jones (-2,42%) fell below the psychological (and technical) threshold of 30 thousand points. The index S&P falls by 3,3%, to the lowest since March 2021.
Amazon leaves 3,7% on the ground. For the first time, the e-commerce giant is considering withdrawing from some overpriced markets, writes the Wall Street Journal.
Asian stock exchanges were also in the red this morning. The Nikkei 225 Japan loses 1,7%, the Kospi of South Korea falls by 0,5%.
Chinese price lists are advancing: the Hang Seng by Hong Kong earn 0,8%. The Shanghai Composite Chinese rose by 0,3%, while the component Shenzhen grows by 1,0%.
Technical expiry day on options and futures today in Piazza Affari.
Enel signed the agreements relating to the sale of the entire stake held in the capital of Enel Russia, equal to 56,43%, for a total consideration of 137 million euros.
News home Getting very. The Garrone family and Ifm Investors have decided to form a long-term strategic partnership for investments in the energy transition. Ifm will initially acquire 35% of a new holding which will hold 62,5% of Erg.
Test on the Stock Exchange for plans Classic Ferrari for sale which aims to bring sales of electric and hybrid models to 80% of the total by 2030, as stated in the Capital Day.
Among the minor news titles in sight for Cleansing, which has signed the urban planning agreement with the Municipality of Milan for the variant to the Milano Santa Giulia project, which will lead to the completion of the Milanese district.
