MILANO – European stock exchanges closed positively a day that started lower. The alert launched by China today, with the head of the banking and insurance commission Guo Shuqing who said he was “very worried” by the risk of speculative bubbles forming in foreign markets, especially Europe and United States.
However, European markets managed to turn around in the afternoon with the exception of Milano which at the end of the day reported a 0.78% red. The others are slightly up: Paris salt at the end of 0.29%, London 0.38% e Frankfurt by 0.16 per cent. This morning, Tokyo closed trading at -0.86%, mainly discounting profit-taking after the latest increases. Yesterday there was a very positive session a Wall Street, with the US Stock Exchange which toasted the green light for the third Johnson & Johnson vaccine, after those Pfizer and Moderna, which could give a further boost to the vaccination campaign in the USA, also accelerating the restart of the economy with shorter deadlines than initially assumed. Today, however, the American indices are once again pointing down: at the close of European trade, the Dow Jones loses 0.2% but it is above all the tech that suffers with the Nasdaq at -1%.
The spread between BTPs and German Bunds closed with a slight increase to 102.8 basis points with an Italian ten-year yield of 0.67 percent. On the foreign exchange market, however, theeuro it changes hands at $ 1.2074 (1.205 on the eve) and at 128.855 yen (128.26 at the start this morning) and the dollar is worth 106.725 yen (106.85 at the opening).
The specter of the resumption ofinflation however, it still remains at the top of investors’ minds. According to data released today by Eurostat, the inflation rate in the Eurozone was 0.9%, stable compared to January. In Germany, on the other hand, the data on retail sales are disappointing, which in January recorded a decline of 4.5%, albeit lower than the -9.1% of the previous survey, but in sharp contrast to the Bloomberg consensus which indicated a +0, 3 percent. On the other hand, the number of unemployed in the country rose (+9000) compared to an expected decrease of 13 thousand units.
Inflation and rising yields: what changes for savers. The “Bot people” are back, risk of rising prices for the Treasury
by Raffaele Ricciardi
February 26, 2021
While awaiting the decision of the next OPEC + summit, which should regulate production levels for the month of April, oil is moving down. Brent is traded at $ 59.96 per barrel (-1.12%), WTI at $ 62.93 (-1.19%).