USA
seemed everything were to go wrong, in the wake of the problems in Europe and the earthquake in Japan. Instead, Steel Dynamics (+3.92%) announced better forecasts and Valero (+6.31%) has done "shopping" of assets from Chevron (+0.86%). A few upgrades here and there allowed the U.S. indices closed the week with a positive session and "cut" the weekly losses.
DJI +0.50% +0.71% SPX, Nasdaq +0.66% VIX 20.08 (-8.23%)
Europe
Session disorientated by the terrible earthquake and tsunami in Japan. The entire insurance industry is making losses (-2.16%) with reinsurers Swiss Re (3.55%) and Munich Re (-4.28%) to suffer more. However, European politicians have gathered to "surprise" to discuss the rescue, with the consequent rise in greek index.
CAC -0.89%, DAX -1.16%, -0.79% SMI, DJES50 -0.89% V2X 24.71 (+2.37%)
Japan the Nikkei reopen despite the devastation of the earthquake and tsunami. The damage is so extensive with future problems SUPPLY (we report some blackout 'everywhere with 25% of energy generation destroyed), without factories, transport disturbed that investors do not think two times to download everything they can. This despite massive intervention by the BoJ.
Nikkei -6.18%
Asia
It's a little 'cynical, but with the Japanese firm factories, it is expected that factories in neighboring countries (Korea and Taiwan in particular) will be stressed further. This particular situation allows to the Asian markets to avoid following the Nikkei to arrive in mid-session in a dignified manner, in some cases even positive.
Hang Seng +0.07%, Straits Time -0.22%, Taiwan -0.56%, Shanghai +0.00%, Sensex +0.88%
FX USDCHF 0.9287 (0.9324)
USDJPY 82.11 (83.20)
EURUSD 1.3935 (1.3809)
EURCHF 1.2941 (1.2880)
EURGBP 0.8672 (0.8600)
GBPUSD 1.6069 (1.6055)
GBPCHF 1.4922 (1.4987)
USD Libor 3 months 0.31% (0.31%)
USA tbill 3 mesi 0.07% (0.07%)
USA tbond 5 anni 2.03% (2.03%)
Grecia 10 anni 12.81% (12.76%)
Oro 1424.65 (1413.30)
Greggio 99.77 (101.89)
SPGS Commodity 701.06 (707.19)
Baltic Dry Index 1562 (1538)
Considerazioni
In anticipo di 2 settimane rispetto ai piani i politici europei iniziano a rivedere gli strumenti di salvataggio. Non arrivano all'acquisto di titoli sul mercato secondario, ma affinano comunque lo scopo del fondo di emergenza di 440 mia di EUR e il funzionamento dello stesso. L'obiettivo è evitare che il costo del credito stesso sia causa di fallimento. Nel we le prime reazioni degli analisti che si dicono comunque "Awaiting details."
