Die Risiken am Markt für Gewerbeimmobilien sind laut der Finanzwächter der BIZ weiterhin enorm hoch. Vor allem für die deutschen Geldhäuser wird die Lage zum Problem.
Der Chef des Sicherheits- und Reinigungsunternehmens spürt erste Anzeichen einer Deindustrialisierung. Kritik übt er am Bürgergeld und an der Rente mit 63.
Bei einem russischen Raketenangriff bei Saporischschja sterben mindestens sieben Menschen. Das russische Militär stellt die Situation anders dar.
Ihr Schicksal löste weltweit Anteilnahme aus. Nach monatelanger Geiselhaft hat die Israelin eine wichtige Botschaft. Doch ein Ende der Gewalt ist nicht in Sicht.Markets:
Friday was the final day of the quarter and that made drawing conclusions tough. It was especially difficult because the US political scene was thrown into disarray by Joe Biden’s poor debate performance.
Eyes were on the PCE report early and it showed some modest cooling, albeit with some wage pressure. The initial market moves were limited to 15 pips and it was the later UMich data that provided more of a jolt as the inflation readings in that report sagged. The dollar selling on both was short-lived though and it finished the day with only minor moves.
More dramatic was the selloff in bonds, that was steady and then accelerated late. The timing of the shift points to quarter-end flows but you could also weave an argument that a Republican rout and larger deficits are now more likely, as opposed to a split Congress. As for the politics, I’ll spare you the rest of the twists but it will be an interesting weekend between the efforts to push out Biden and Sunday’s vote in France.
Over in Japan, the yen sagged again despite the sacking of Kanda. The new top currency diplomat is Atsushi Mimura and my guess is that he will want to do something to establish credibility, which had evaporated under Kanda. Despite that USD/JPY rose on the day, though I’d be much more likely to point to US yields and French uncertainty for that.
Have a great weekend. Greg and Eamonn will be back next week.
This article was written by Adam Button at www.forexlive.com.
The S&P 500 closed the half-year up a tidy 14% but today’s reversal from an all-time high is somewhat ominous. However against that backdrop note that the first three trading days of July are traditionally three of the strongest ones of the year.
For the week, the S&P 500 fell 0.1%, the Dow fell 0.1%, and the Nasdaq rose 0.2%.
For the month, the S&P 500 rose 3.5%, the Dow rose 1.1%, and the Nasdaq rose 6.0%.
For the quarter, the S&P 500 rose 3.9%, the Dow fell 1.7%, and the Nasdaq rose 8.3%.
S&P 500’s best performers:
$SMCI +194%
$NVDA +152%
$VST +120.5%
$CEG +73%
$GE +57%
Worst
$WBA -53%
$LULU -41%
$INTC -38%
$EPAM -37.5%
$ALB -35%
This article was written by Adam Button at www.forexlive.com.
One thing stands out though: US equities.
The S&P 500 has climbed for eight straight years in July with an average gain of more than 3%. Stretching back to the turn of the century, it’s not quite as strong but it’s still the third-best month.
Moreover, the first few days of the month — the July 4 week — are among the strongest days of the year, historically.
Other tidbits (since 2000):
This article was written by Adam Button at www.forexlive.com.
Folks, I might not walk as easily or talk as smoothly as I used to.
I might not debate as well as I used to.
But what I do know is how to tell the truth.
He said something along the same lines at a campaign stop in North Carolina.
I don’t put too much stock in this and I’m not sure when this purported meeting with Obama is supposed to take place but he certainly doesn’t sound like someone who is looking for an exit.
This article was written by Adam Button at www.forexlive.com.