Feeling of market, by Alberto Carbonell
We have lived tonight an Asian positive session. Once the Banco Popular of China indicated that the crisis of Evergrande would be manageable, this early morning another of the giants property Chinese, Sunac China, could pay a coupon to its bond holders. This situation with a downward trend reduced the perception of market risk, which it promoted the gains. Nonetheless, it is still expected that is reduced still more that risk perception for the via of the prices that they come burdening the equities during the past months. Following on from this, yesterday the governor of the Bank of England, Bailey, remarked that they have act to contain the inflationary pressures and avoid that expectations of inflation establish. In the fixed income, yesterday live a session with tall volatility, with the curves flattening with a lot of force. The 10-30 Germany is placed at the minimum of the year. For today's session do not have the publication of important details. At the level of appearances, have members of the ECB (Rye and Panetta) and of the FED (Daly, Bostic and Barkin).
In the law reports, the RBA continues pointing out that there will be no rate increases until 2024, does not see emerge wage pressures in Australia. The market already discounted the first rise in the second half of 2022
The industrial production of September fell a - 1.3% MM (0.1% expected). The skills of use grew 75.2% (76.4% expected)
Foreign Currencies by Enrique Velasco
Generalised weakness of the dollar. Special mention to the USDCNH, that this morning is threatening the support of June of 6.40. The lack of verbal intervention on the strength of the currency by the Chinese authorities and the defense that has done the government of the property sector seems credit given support to the yuan despite the smaller growth detail that knew the weekend. The most significant correction have seen it against the emerging currencies, with the USDMXN losing more than 50 figures in less than a week. However, the attention follows concentrating on Turkey, where after the events related to the composition of its central bank, a reduction is expected of until 100 pbs. With regard to G10, crossroads as the GBPUSD are approximated to significant technical levels (1.38) for opening again long positions of dollar.
US 2.30pm initiated housing (Sep.)