Who will be right? For once, the markets offer different forecasts: judging by the trend of actions, the next drop in inflation is taken for granted. More cautious i bonds. 2-year Treasuries mark an increase of 30 points in recent sessions, anticipating a Fed ministration. The answer today. At 14 in Italy, the data on theUS inflation. Consumer prices should have risen by 0,5% month on month in January, from +0,1% in December. Year over year, growth should have been 6,2%, from +6,5%. Core inflation growth, excluding food and energy, should have been 5,5%.
Positive Eurostoxx futures, London one step away from the record.
- Le European stock exchanges they are waiting with confidence: the Eurostoxx future marks a rise on the wave of yesterday's rises (+0,90%).
- A Milanoyesterday +0,63% net electoral affirmation of the government could provide an additional boost to Taurus. The FtseMib gains 0,28% at the open
- A London the FTSE 100 index is just one point off its all-time high
- Lo spread between 172-year BTPs and Bunds with the same duration, it fell to 2,02 basis points (-2,75%). The Bund's race on the short two-year maturity, seen on Friday when the rate was pushed to 2008%, calmed down in closing. at the highest level since XNUMX.
The market shows that it appreciates bonds placed by issuers deemed solid. Yesterday Enel priced a sustainability-linked bond in two tranches, maturing on February 20, 2031 and February 20, 2043, each for €750 million. Total orders exceeded 3 billion.
In the meantime, the Monetary Fund. Speaking at the World Government Summit, the director, Kristalina Georgieva, said that financial markets have good reason to be more optimistic, underlining that the US economy could avoid recession and recalling that China has reopened its activities after the restrictions against pandemic.
Wall Street runs, tension on the T-Bond drops
Little moved i Wall Street futures after a rising session: Dow Jones +1,11%, S&P +1,14%, Nasdaq +1,48%. The Treasury Notes a ten-year term trades at 3,69%, four basis points less than yesterday. The spread between ten-year and two-year bonds is 80 basis points, slightly above the lows reached in the early XNUMXs, an anomaly destined to subside (with a drop in short-term yields) when it will be perceived that inflation is structurally slowing down.
Tokyo: inflation has never been so high for 40 years
This morning the MSCI Asia Pacific index rebounds from last month's lows touched yesterday. Nikkei of Tokyo +0,7% on the day of the publication of the GDP data. In the fourth quarter, Japan's economy returned to growth, +0,6% sequentially, from -1% previously. However, the figure is lower than expected.
I Japanese consumer prices they climbed 4% in December, not so fast in 41 years. With these premises, the mission of Kazuo Ueda, the economist called to lead the Bank of Japan, starts today. In an interview, Iesa declared himself in favor of the expansive monetary policy practiced by Governor Kuroda, but operators are convinced that course corrections will soon arrive, especially the abolition of the bond yield ceiling. Blackrock expects a down season for the Nikkei in the face of increased competition from the bond market.
The ball complicates relations between the US and China
Contrast the Chinese squares. Hang Seng by Hong Kong +0,2%. CSI300 of the price lists Shanghai and Shenzhen -0,3%.
The spy balloons in the US skies have cooled relations between the first and second economic power in the world, but diplomacy has returned to work in recent days: Secretary of State Anthony Blinken will meet his Chinese counterpart Wang Yi in the next few days Monk.
Meanwhile, the top executives of multinationals are returning to China with the reopening of the country, reported yesterday Wall Street Journal. The managing director of Volkswagen visited the country in late January and early February, while the CEO of Apple , Tim Cook, and his counterpart from Pfizer, Albert Bourla, are due to visit next month. Ola Kallenius, president of Mercedes-Benz Group, is planning a visit to China.
Kospi of Alone +0,8%. BSE Sensex of Mumbai + 0,4%.
Natural gas still down, oil stable
Stable oil (Brent at 86 dollars). The US is ready to sell more crude from strategic reserves to offset Russian production cuts and growing Chinese demand.
European Natural Gas fell by -4% to 51,7 euros per mWh, a new low in the last 14 months. From the beginning of the year -32%. In the EU gas storage levels are around 75% of total capacity, "only marginally below the level reached at the start of the heating season" said EU Commissioner Paolo Gentiloni.
Today the accounts of Tim, on the shields Leonardo
Diasorin announced today the sale to Cytek Biosciences of all assets related to its Flow Cytometry & Imaging (FCI) Business Unit.
Tim: the Board of Directors meets in the afternoon to approve the 2022 accounts and the update of the strategic plan, including the new targets. Based on the analyst consensus provided by the company, the group operating margin including lease costs should have recorded a decrease of 10,7% to 4,99 billion euros for the whole of 2022, against a decrease of 16,4, 3,65% to XNUMX billion euros of Ebitda after leases of the Italian operations. According to a source familiar with the situation, the board should postpone the choice of De Puyfontaine's replacement on the board to the April meeting.
Leonardo: iYou were the quotation went to the highs of the last eight months. Today in Brussels, NATO defense ministers will talk about bringing the military expenditure of the member countries of the organization to at least 2%, a change of pace with respect to the medium-term objective which envisaged a more generic one (around 2%).
Media for Europe: Nielsen has released data on advertising in Italy: in December, the company's channels recorded a decline of 5,8%, better than expected. The quarter closed with a drop of 2,5%.
Pirelli: Michelin's results are better than expected, especially as regards the automotive sector.
