Mohicans markets：MHM Today’s News

MHMarkets - December 19, 2022-Fundamental Reminder

☆ 17:00 Germany publishes IFO Business Climate for December.

☆ 19:00 U.K. releases CBI Industrial Order Expectations for December.

☆ 23:00 U.S. releases NAHB Housing Market Index for December.

MHMarkets -Market Overview

Review of Global Market Trend

On Friday, December 16, the Federal Reserve officials issued a hawkish speech, the dollar index turned up during the day, the U.S. stock market closed the dollar index close to 104.84, closing up 0.22% during the day. U.S. bond yields rose and fell, 10-year U.S. bond yields rose above 3.55% before the U.S. stock market to refresh the daily high, up more than 10 basis points during the day, and then continued to fall, trading at 3.48% at the close; 2-year U.S. bond yields approached 4.30% before the U.S. stock market to refresh the daily high, up more than 6 basis points during the day, and then fell back to 4.18%.

Spot gold rebounded to approach the 1800 mark, closing up 0.92% at $1793.15 per ounce. Spot silver regained the $23 mark, closing up 0.62% at $23.23 per ounce.

Demand concerns continued to weigh on oil prices, which narrowed during the session after the U.S. Department of Energy confirmed it would begin replenishing the Strategic Petroleum Reserve, but have since expanded again, with WTI crude closing down 2.37% at $74.47 per barrel and Brent crude closing down 2.81% at $79.16 per barrel. European TTF benchmark Dutch natural gas futures closed down 14.33% at 115.451 euros per megawatt, a new low since Nov. 21, after a 17% drop last week. NYMEX January natural gas futures closed down 5.31% at $6.6000 per million British thermal units, after rising 5.68% last week.

U.S. stocks closed down collectively for the third consecutive day, with the Nasdaq closing down 0.97%, the S&P closing down 1.11% and the Dow closing down 0.85%. S&P 500 major sectors collectively closed lower, most of the leading technology stocks fell. Tesla led the decline, closing down more than 4.7%, continuing to hit a new low since November 2020.

European stocks collectively closed lower, Germany's DAX30 index closed down 0.69%, the FTSE 100 index closed down 1.22%, France's CAC40 index closed down 1.08%, the European Stoxx 50 index closed down 0.81%, Spain's IBEX35 index closed down 1.24%, Italy's FTSE MIB index closed down 0.19%.

Hot spots in the market

1. Argentina won the 2022 World Cup.

2. The global box office of Avatar 2 at the first weekend was 435 million US dollars, lower than the market expectation.

3. The Japanese government considers increasing flexibility for the inflation target of 2%.

4. The 55 participants, including China, the United States and the European Union, announced the completion of the domestic approval procedure of the Reference Document on Domestic Regulation of Trade in Services, and agreed to jointly launch the entry into force procedure of the negotiation results in the WTO on December 20.

5. The EU has reached an agreement to strengthen and expand the carbon market and support the core content of the “Green Agreement” strategy, which aims to achieve climate neutrality by the middle of this century.

Institutional Perspective

1. Goldman Sachs：Goldman Sachs (GS. N) plans to lay off up to 8% of its workforce in response to a tougher economic environment next year.

2. SOCIETE GENERALE：The Bank of England is expected to raise interest rates twice by 50 basis points.

3. MUFG：The Federal Reserve alone cannot reverse the bearish trend of the dollar.

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