Wealth Wednesday

Ranora Daily - Your daily source for reliable market analysis and news.

July 19, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • BOJ Governor Ueda told a news conference at the India G20 there was still some distance to sustainably and stably achieving the 2% inflation target, signaling his resolve to maintain ultra-loose monetary policy for the time being.

  • Chinese banks adopt 'wait and see' on repricing of existing housing mortgages lower.

  • New Zealand Q2 inflation came in at 1.1% q/q, ahead of the consensus of 0.9% but below the prior quarter's 1.2%.

  • China's high-yield dollar bonds suffer worst slide YTD as defaults mount

  • Morgan Stanley moves 200 technology developers out of mainland China on data law

Europe, Middle East, Africa

  • June Eurozone CPI is at +5.5% y/y vs preliminary +5.5% and from 6.1% in May,

  • Monthly inflation printed at +0.3% vs preliminary +0.3%.

  • Core CPI came in at +5.5% y/y vs preliminary +5.4%.

  • The overall headline reading is at the lowest level since January 2022, mainly due to a decline in energy prices.

  • The market has started to unwind aggressive UK rate hike bets after UK inflation surprised on the downside. The market now sees Bank Rate peaking below 6%, which is compared with 6.25% prior to the data

  • EU plans €20B fund to stock Ukraine's military for years

The Americas

  • AT&T pushes back against lead-covered cable concerns, says less than 10% of network exposed. Says it doesn't plan to replace its lead cables around Lake Tahoe as of now

  • AT&T and Verizon's dividends look safe amid questions about lead-wrapped cable liabilities

  • Johnson & Johnson sues Biden administration over Medicare's new powers to cut drug prices

  • Teamsters planning to strike at Yellow after trucking company fails to make $50M employee benefits payment

The Week Ahead:

  • Monday:

    • China's Gross Domestic Product

    • NY Empire State Manufacturing Index

  • Tuesday:

    • US Retail Sales

  • Wednesday:

    • UK Consumer price index

    • US Building Permits

  • Thursday:

    • China’s PBoC Interest Rate Decision

    • US Initial jobless claims

    • US Existing Home Sales Change

  • Friday:

    • UK GFK Consumer Confidence

    • UK Retail Sales

Investment Tip of The Day

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Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.