Das Bundeskartellamt prüft, ob der Konzern den Wettbewerb in Deutschland einschränkt. Coca-Cola hatte bei Preisverhandlungen immer wieder Konflikte mit deutschen Einzelhändlern.
Der US-Autobauer verweigert – wie üblich – Tarifverträge für Mitarbeiter. Das ist nicht nur ein Imageproblem: Die mächtigen Gewerkschaften gehen mit harten Maßnahmen gegen Tesla vor.
Die Chemieindustrie verbucht erstmals seit sechs Quartalen ein Produktionsplus. Für das Gesamtjahr erwartet die Branche aber weiter einen deutlichen Rückgang der Umsätze.
Der Autozulieferer will Tausende Stellen streichen und so ab 2025 rund 400 Millionen Euro pro Jahr sparen. Teile des Konzerns stehen vor einem umfassenden Umbau.They need to play it this way in order to keep the door open to more rate hikes, or at least keep up that appearance. But for now, as the economy moves to the brink of a recession, the timing to tighten policy further would not be the best suited.
This article was written by Justin Low at www.forexlive.com.
At some point last week, it looked like the bond market rally was about to get going again. And then we got a turn on Thursday and Friday, and suddenly traders aren’t sure anymore that the rally would be a sustainable one. So, what’s the verdict right now as we get into the new week?
Things are looking more tentative as we await key US data releases in the coming days. The big one is the consumer price inflation report tomorrow but barring any surprises, there shouldn’t be much change to the Fed outlook right now.
Markets are anticipating the first rate cut at around June to July and that is actually not too much different from two months ago. In fact, the implied rate shown on the curve right now is higher than it was back then:
As much as it looks like traders are kicking back after months of angst amid the rout and selling, the fundamental picture hasn’t really changed. The Fed is still on course to keep interest rates higher for longer and there is still the risk of them doing more if inflationary pressures are not receding as much as they’d like heading into next year.
However, the key factor driving yields higher is arguably the flood of supply of Treasuries. And even though the quarterly refunding announcement was not as bad as feared, the trend is still set to continue. There will be more bonds coming into the market and that will make for more waves of supply in the months ahead. The Fed and US Treasury are not going to change that.
Taking that into consideration, there will always be a counter-force to keep the selling pressure in Treasuries and prop up yields.
Right now, it looks like we might be caught in a bind between 4.50% and 5.00% for 10-year yields as seen in the chart above. But the longer it takes for this latest rally to stamp their mark and break any significant levels, it seems that there will be an increasing likelihood that we get to revisit 5% yields again at some point in the weeks ahead.
I mean, 2-year yields itself are still hanging in there at 5.05% today. If anything, that shows the latest rally in bonds hasn’t really accomplished anything too notable just yet.
This article was written by Justin Low at www.forexlive.com.
Dow Jones Technical
Analysis – Daily Timeframe
On the daily chart, we can see that the Dow Jones last
Friday broke above the key trendline and the resistance around
the 34100 level. Given that it wasn’t supported by any bullish catalysts, this
breakout might turn into a fakeout, so the buyers must be extra careful going
forward.
Dow Jones Technical
Analysis – 4 hour Timeframe
On the 4 hour chart, we can see more closely the
breakout. In case we get a pullback into the broken resistance, the buyers will
likely step in with a defined risk below the resistance turned support and
target another extension to the upside. The sellers, on the other hand, will
want to see the price breaking below the support to confirm the fakeout and
pile in for a drop into new lows.
Dow Jones Technical
Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that the Friday’s
rally is diverging with
the MACD which is
generally a sign of weakening momentum often followed by pullbacks or
reversals. In this case, if we get a pullback, the buyers should pile in around
the support, but if the price breaks below it, the reversal would be confirmed,
and the sellers will regain control.
Upcoming Events
This week we have some top tier economic releases. We
begin tomorrow with the US CPI report which is going to be one of the most
important events of the week. On Wednesday, we have the US Retail Sales and PPI
data, while on Thursday we conclude with the latest US Jobless Claims figures.
This article was written by FL Contributors at www.forexlive.com.