Police are checking drivers at a checkpoint near Auckland, New Zealand, on 15 February.
Photographer: Fiona Goodall / Getty Images
Photographer: Fiona Goodall / Getty Images
Stocks started the week on the front foot, amid signs that the trade in inflation needs to continue and as the pace of coronavirus outbreaks has slowed. Crude WTI violates $ 60 a barrel, while Arctic freezing swept parts of the US
South Korean equities outperformed and Japanese equities were higher, with the Nikkei 225 reaching 30,000 for the first time since 1990. The S&P 500 futures rose. The data show that Japan’s economy grew by double digits in the last quarter, exceeding expectations. The yen has sunk. US markets are closed for Presidents’ Day, while exchanges in China, Hong Kong and Taiwan are also closed on Monday.
Australian bonds fell after US yields rose on Friday. Treasury futures declined in Asian trading. Kiwi fluctuated as New Zealand closed Auckland while investigating new Covid-19 cases. The dollar has changed little. Bitcoin has approached $ 50,000.
The inflation trade remains alive and well – global equities have risen for 10 consecutive sessions, and the Treasury yield curve has tested the steepest levels in more than five years. Investors are working on US government spending and the launch of the coronavirus vaccine to boost the economic recovery, although new options threaten to dampen the outlook.
“The rebate trade is set to continue to accumulate steam with the implementation of vaccines and massive tax spending by the Biden administration,” said Esty Dwek, head of global market strategy for Natixis Investment Managers Solutions. “Yields are likely to increase and the recovery of cyclical sectors should continue.”
Countries reducing restrictions include Malaysia, which will allow national football and hockey leagues to start training. Hong Kong will allow you to dine at the restaurant and relax other rules of social distancing after the monthly New Year holidays. New Cases in the US fell to the lowest weekly average since the end of October.
Japan’s gross domestic product rose by 12.7% year-on-year compared to the previous quarter from three months to December, the Cabinet reported on Monday. Economists had forecast an increase of 10.1%. Singapore reaffirmed its forecast to return to economic growth this year.
Here are some key events that occur:
- Earnings continue with companies, including BHP Group, Daimler, Credit Suisse, Deere, Danone and Nestle.
- Eurozone finance ministers will discuss the current economic situation and the bloc’s prospects on Tuesday.
- US retail sales on Wednesday are likely to show growth for the first time since September.
Saed Abukarsh, senior executive director of Ark Capital, discusses WHO reports on Covid-19 reinfection and what it could mean for economic recovery projections.
These are the main movements in the markets:
Inventories
- The S&P 500 futures rose 0.3% since 10:02 in Tokyo. The S&P 500 was up 0.5% on Friday.
- The Topix index increased by 0.7%. The Nikkei 225 rose 1.1%.
- The Kospi index rose 1.4%.
- The Australian S & P / ASX 200 index gained 0.8%.
currencies
- The yen fell 0.1% to $ 105.07.
- The euro bought $ 1.2122, little changed.
BONDS
- Australia’s 10-year yield rose six basis points to 1.28%.
- The 10-year Treasury yield gained five basis points to 1.21% on Friday.
commodities
- West Texas Intermediate Oil rose 1.9% to $ 60.58 a barrel.
- Gold fell 0.1% to $ 1,823.04 an ounce.
– With the assistance of Andres Guerra Luz, Michael Roschnotti and Michael Hirtzer