昨天公布好于预期的美国消费者物价指数 (CPI) 通胀数据后，股市继续上行。 欧洲和美国央行降息的前景引发了股市的火热，道琼斯指数首次触及40,000点。 标准普尔和纳斯达克指数以及一些欧洲交易所也在探索历史新高。 降息的前景增强了市场情绪，并让多头占据主导地位。 然而美国工业和制造业生产仍然严重低迷，并继续处于收缩状态，就像欧洲大部分地区一样，能源仍然是一个问题。 美国费城联储制造业指数处于扩张区间，但该行业仍然严重低迷并陷入困境。 投资似乎正在流入股市，但以制造业和工业生产的形式流入“实体经济”仍然不具规模。 美元和债券收益率依然疲软，欧元交投于1.0850上方，而英镑则升至1.2670。
商品货币是美元疲软的受益者，澳元交投于 0.6650 上方，而纽元则在 0.6100 上方盘整。 日本国内生产总值大幅收缩，证实了普遍存在的经济衰退状况，而工业和制造业生产则遭受严重的需求问题。 日本经济面临压力，存在严重的货币问题和潜在的货币危机。
Equity markets continued the celebrations, following the better-than-expected US CPI inflation number, released yesterday. The prospects of Central Bank rate cuts in Europe and the US, has ignited a fire in the equity markets, with the DOW touching 40,000 for the first time ever. The S&P and NASDAQ are also exploring record all-time highs, as are some European Bourses. The prospects of interest rate cuts have emboldened market sentiment and allowed for the bulls to take charge. US Industrial and Manufacturing Production remains seriously depressed and continues to be in contraction mode, as it does in much of Europe. Energy remains a problem. The US Philly Fed Manufacturing Index was in expansion territory, but this sector remains heavily depressed and struggles. Investment appears to be flowing into equity markets but the flow into the ‘real economy’, in the form of manufacturing and industrial production remains challenging. The US Dollar and bond yields remain soft, with the EUR trading above 1.0850, while the GBP pushed up to 1.2670.
Commodity currencies are beneficiaries of a weaker reserve, with the AUD trading above 0.6650, while the NZD consolidates above 0.6100. Japanese GDP contracted sharply, confirming the recessionary economic conditions that prevail, while Industrial and Manufacturing Production suffers severe demand issues. The Japanese economy is under stress, with serious monetary problems and a potential currency crisis. Markets remain heavily focused on inflation and monetary conditions.
商品货币是美元疲软的受益者，澳元交投于 0.6650 上方，而纽元则在 0.6100 上方盘整。 日本国内生产总值大幅收缩，证实了普遍存在的经济衰退状况，而工业和制造业生产则遭受严重的需求问题。 日本经济面临压力，存在严重的货币问题和潜在的货币危机。
Equity markets continued the celebrations, following the better-than-expected US CPI inflation number, released yesterday. The prospects of Central Bank rate cuts in Europe and the US, has ignited a fire in the equity markets, with the DOW touching 40,000 for the first time ever. The S&P and NASDAQ are also exploring record all-time highs, as are some European Bourses. The prospects of interest rate cuts have emboldened market sentiment and allowed for the bulls to take charge. US Industrial and Manufacturing Production remains seriously depressed and continues to be in contraction mode, as it does in much of Europe. Energy remains a problem. The US Philly Fed Manufacturing Index was in expansion territory, but this sector remains heavily depressed and struggles. Investment appears to be flowing into equity markets but the flow into the ‘real economy’, in the form of manufacturing and industrial production remains challenging. The US Dollar and bond yields remain soft, with the EUR trading above 1.0850, while the GBP pushed up to 1.2670.
Commodity currencies are beneficiaries of a weaker reserve, with the AUD trading above 0.6650, while the NZD consolidates above 0.6100. Japanese GDP contracted sharply, confirming the recessionary economic conditions that prevail, while Industrial and Manufacturing Production suffers severe demand issues. The Japanese economy is under stress, with serious monetary problems and a potential currency crisis. Markets remain heavily focused on inflation and monetary conditions.
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