Market Mind: One Coin That Controls Them All

Texas News Today

FILE PHOTO: Treasury Secretary Janet Yellen testifies at the Senate Bank, Housing and Urban Affairs Commission hearing on the CARES Act at the Hart Senate office building on September 28, 2021 in Washington, DC, USA. Kevin Deitch / Reuters via the pool

September 30, 2021

Watch a day before Julian Pontus

The fact that the practicality of minting USD 1 trillion coins is actually being discussed tells a lot about this final day of the third quarter of 2021 enthusiasts.

Yes, #mintdcoin is important. The idea of ​​Treasury Secretary Janet Yellen raising $1,000,000,000,000 in a coin to circumvent the omission sounds deceptive, but is similar to the creation of Mordor Mentha in Tolkien’s The Lord of the Rings. US default possibility to filter specific asset values.

To be honest, the policy response to the COVID-19 market collapse has so far been unconventional, with central banks amid rising energy prices, supply chain constraints, job losses and economic growth going beyond trends. , still buys billions of dollars in securities per month.

And as far as fairy tales go, this week’s stock and bond sales mark the end of Goldilocks, a sweet spot when markets aren’t too hot and soaked in an environment of economic growth and inflation. which is not very cold.

Yields are rising rapidly around the world, MSCI’s global equity gauge declined nearly 1% during the quarter, and portfolio managers are increasingly shifting their portfolios from growth and technology to financial and energy equities. I’m roaming

Meanwhile, the reality of China’s lethargy is sinking.

China’s factory activity unexpectedly contracted in September due to lower electricity use and rising input prices, data showed.

Still, the stock market is rising, with Asian stocks other than Japan up about 0.5%. The dollar has fallen slightly below its year-long high and oil prices have cooled slightly.

European Stock Exchange and Wall Street futures are trading higher.

Key developments that should provide more direction to Thursday’s market:

— China’s manufacturing shrinks unexpectedly and services provide support

– China’s Evergrande stock price fluctuates as bondholders wait for payment announcements

– Automobile production cuts will decline from Japanese factory output

Britain’s economy recovered more than expected in the second quarter before the recession

– Cost inflation to reduce Boohoo’s full-year margins

Diageo expects margins to increase with bar and restaurant opening

— UK Q2 GDP / Current Balance

— US Q2 Final GDP / Weekly Unemployment / Final Core PCE

(Julian Ponthus reports)

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