Duties and hurricanes scourge the markets at the start of the week. The Stock Exchange escapes bad weather Tokyo, closed for a providential mini-vacation. Meanwhile, both China and the US are counting the victims of the hurricane Florence need Mangkhut, the parallel storm that hit southern China, a perfect metaphor for the storm that, according to Reuters and the Wall Street Journal, is about to hit the markets. In fact, tonight the US will impose a 10 percent tariff on Chinese goods worth 200 billion. Beijing's response is taken for granted, which could also ban the sale of some components necessary for US products.
The tug of war between the superpowers affects the start of the financial week.
The Exchange of Hong Kong, open despite the storm (the water reached 3,5 meters in height), lost 1,7%. The shares of Macau casinos suffer in particular while Tencent, the giant of electronic games disliked by President Xi, suffers a new decline of 3,1%.
Reductions of more than 1,3% also Shanghai. Mumbai -0,7%.
Down among the currencies rupee India one step away from the all-time low despite the measures taken to curb the import of "non-essential goods".
The stock market is also down Seoul and won Korean (-0,5%): the three-day meeting between the presidents of the two Koreas to unblock the nuclear negotiations has begun.
The other markets were not moved: the Petroleum trades at $78,06 in the Brent version, i T Bond US 3-year bonds are back below 2,996% (XNUMX) after the brief burst on Friday.
The prospect of a trade war is bound to affect both the opening of the week in Europe and the USA as well. JP Morgan reports that the fallout from a trade war between the world's top two economies is already prompting companies to slow down or suspend investments.
In the Old Continent, meanwhile, the tension for the Brexit and above all, you look forward to theItaly. Treasury Minister Giovanni Tria intends to defend the dam a 1,6% deficit. But a thick fog still reigns on the coverage front for the many promises.
Il BTP starts the week with a 2,98% yield against the Bund's 0,45%, spread to 253 points. The share of Italian government bond debt held by foreign investors fell to 33,7% in June from 35,4% in May. The result is the lowest since March 2017.
Business Square restarts from 20.885 points.
On the central bank front, the scene will be occupied, tomorrow and Wednesday, by the meeting of the Bank of Japan, which should confirm the institution's accommodative policy. The performance of US securities, especially the 2-year traded at 2,77%, confirms that the market takes the forthcoming increases in the cost of US money for granted. The Fed is meeting next week.
Today, meanwhile, he takes office as chairman of the San Francisco Fed Mary Daly, appreciated labor economist for her studies on inequality, which boasts a singular curriculum: at the age of 16 she interrupted her studies out of necessity, only to then resume and earn, ten years later, a Phd.
In Piazza Affari the calendar foresees today the detachment of the quarterly dividend of stm (0,42 euro).
The budget council of will be held on Thursday 20 Mediobanca: the terms for early exit from the agreement will expire on the same day.
Il Financial Times dedicates a long report this morning to Juventus entitled: "Why the Lady bet 100 million on future earnings". An examination of the long-term prospects of the Cristiano Ronaldo operation. Andrea Agnelli declares: "In the future, the new Ronaldos will come to us, but at 25 years old".
On Wall Street, the highlight of the week will be the assembly of Nike, an opportunity to take stock of the effects of the sponsorship of Colin Kaepernick, the player who started the protest of black NFL athletes.
