THE BAGS ARE RUNNING AGAIN. KOREAN EXPORT BOOM
DOLLAR AND BITCOIN SUPERSTAR, OIL RECOVERY
No new cases to report. For the first time the Chinese bulletin on Covid-19 has not recorded any new cases since the beginning of July. Fair, if not good, signals are coming from Japan on manufacturing. But the initial message of comfort comes from South Korea: in the first twenty days of August, exports rose by 41%, those to the United States by 50% and those to China by over a third. The data has a positive value not only for the prospects of the Korean economy, but it is also the confirmation that global demand is back to speed. These are the ingredients ofoptimism which opens the week of the big bankers' end-of-summer meetings.
TOKYO AND SEOUL ON THE RISE, SHANGHAO RECOVERS
- Positive start for all markets: shares and stocks rise raw material. The dollar weakens again and almost all cryptocurrencies also rise.
- The Bloomberg Asia Pacific index gains 1,5%, Tokyo's Nikkei 1,7% (but -3,4% last week). Kospi of Seoul +1,8%.
- Also the Chinese bags which in the last month have left 660 billion dollars on the ground, especially for sales of tech stocks. Hong Kong's Hang Seng index rebounds from the lows for the period reached on Friday: +1,8%. Some of its heavyweights go up: Tencent +3%, Baidu +3%. But Alibaba loses 2% and reaches the ninth consecutive decline. The reference index of the Hong Kong Stock Exchange has entered the bear zone, ie the one which is 20% below the highs for the period, in this case reached in February.
Shanghai and Shenzhen CSI 300 indexes are up 0,8%, - BSE also rises sensex of Mumbai +0,5%. The tragedy of Kabul does not weigh.
WALL STREET FUTURES ALSO UP
Wall Street futures are up this morning, that of the Nasdaq by 0,4%. Dollar values are always close to the maximum. 1,27-year Treasury Notes at 1%, +1.788 basis point. Gold at $0,3, +9%. WTI oil recovers after one of the worst weeks of the last year (-1,7%): this morning North Sea crude gains 63,2% to XNUMX dollars.
PAYPAL WILL ACCEPT CRYPTOCURRENCIES
Il bitcoin it is back above $50.000, +2% compared to the close and +70% from the July lows. PayPal told CNBC over the weekend that British users will soon be able to use digital currencies for their transactions, as is already the case in the United States.
THE BANKERS' SUMMIT AT JACKSON HOLE AT THE START
The markets attention is focused on Jackson Hole, the Wyoming resort where central bankers meet at the end of August in homage to the tradition inaugurated by Paul Volckerpassionate trout fisherman. It will be an opportunity to launch a new phase of monetary policy, based on the progressive reduction of central bank purchases which, according to forecasts, could cease completely in mid-2022. Pandemic permitting, however. Fed Chairman Jerome Powell, who is about to renew his mandate given the support guaranteed by Janet Yellen, will also address other dossiers, climate change in the lead. Meanwhile, aided by the current low level of rates, US equity funds recorded the largest inflow in nine weeks.
WORLD DIVIDENDS 1.390 BILLION DOLLARS
Dividends are running again: according to a report by Henderson, global coupons will amount to 1.390 billion dollars this year, only 3% less than pre-pandemic levels.
On the political front, the first international mission of the vice president begins in the worst climate Kamala Harris, starting today in Vietnam and Singapore. Difficult not to point out the memory of the escape from Saigon evoked by the drama of the refugees attempting to escape from Kabul.
TODAY THE PMI INDEXES, COMING SOON OF THE GDP OF GERMANY AND THE USA
The other highlight will be this morning's release of the pmi indices of the main economies: Asia, the Eurozone, the United Kingdom plus the ISM index as well as the European confidence figure. The test is particularly awaited for the Eurozone which at the end of July recorded the most brilliant growth in percentage terms since the beginning of the millennium. Confirmation of these levels seems difficult, given the growth in infections. But the euro area should still be the most dynamic. Tomorrow we will know the German GDP data for the second quarter; Thursday the American GDP and the minutes of the meeting of the Governing Council of the ECB. Finally, on Friday, Istat will release data on consumer and business confidence in August 2021.
One month after the vote, the electoral climate is heating up in Germany, the key passage for community policy. The Cdu-Cdu, orphaned by Angela Merkel, seems to be in serious trouble, nor do the Greens shine. The Social Democrats are recovering, ready to occupy the political space in the centre. A poll published by Bild sees conservatives and social democrats at 22%.
The PMI data for the United Kingdom should also be followed, slowing down both in June and in July: the absence is starting to weigh significantly, due to the Brexitof manpower specialized in various activities.
TODAY THE FDA PROMOTES PFIZER/MODERNA VACCINES
Important day today for the vaccines. The Food and Drug Administration could grant full approval of the Pfizer/BioNTech drug today.
MPS: “INDISCRETIONS” ON THE 3 BILLION INCREASE
In Piazza Affari the spotlight is still on Mps after the bank at the request of Consob he specified that the news of a capital increase of 3 billion are "indiscretions that have no confirmation in initiatives activated by the bank". It doesn't seem like a denial, also because MPS itself has already announced a capital deficit of 2,5 billion in the event of a failed merger.
Hello parasites. Tighten your earnings, because almost all the money has now been spent