Week in Review and Performance
- The United States announced the first-quarter GDP growth was 3.2%, significantly better than expected, by 2.3%, as well as higher corporate earnings performance, combined with good data on durable goods orders, providing US inventories increased strength, there are 46% of the company reported revenue, 78% better than expected corporate earnings growth of 2.02% on average, than initially expected, the revised estimate of 5.36% on profits, uS stocks finished the week up 1.20%;
- the two largest economies of the eurozone, Germany, France, the deterioration of confidence (German April Ifo index of business confidence, the French manufacturing confidence index), but often the bull arrived, stocks rose more or less, the European stock indices rose by 0.65%.
- China held the last meeting of the Central Financial and Economic Committee on Monday, asking to strengthen counter-cyclical adjustment, improve the effectiveness of fiscal strength, but the main income of China's corporations are expected, the Shanghai and Shenzhen 300 constituent stocks, 49% of the company's profits, as expected (in currently, 61% of the company announced revenues), China's stock market fell 1.85% last week;
- Brazil House of Representatives passed a pension annuity bill made by the Special Committee for discussion and voting on the Brazilian stock market closed higher energy prices and the President of Ukraine called for the introduction of sanctions, dragging down the performance of the Russian stock market, the overall emerging market fell by 1.32% that the 1.68% in the developing countries of Asia, Latin America, rose by 0.60%.
- Global central banks Pigeon relations continued to support bond markets, in spite of the global investment climate has improved in the last week, the index of US government bonds prior to 0.54% in the US day length extends slightly astringent;
- The rest of the risk of the bond was mixed, global high-yield bonds fell to 0.05%, higher-yielding US debt monitor the performance of US stocks, rose 0.65%, concerns about inflationary pressures in Turkey and prospects of the Argentine economy, which is formed by market assets down performance emerging market sovereign debt has been reduced by 0.45% in local currency generated debt decreased by 0.77%.
Raw materials, currency exchange rates
- The dollar index came to 98-year high, euro 0.84% depreciation of the week, emerging market currency decreased by 1.10%;
- After 5-2 United States will stop all energy extraction Iran, the world's oil, will probably be more tightening, but US President Trump OPEC to reduce oil prices make energy prices on Brent crude oil, for example, down 0 14%.
Three key events and market analysis
1. Political uncertainty is reduced, Indian stocks have a chance
This year, the Indian stock market is worse than in other countries of the BRIC stock markets, elections are approaching the end helps to reduce political uncertainty, coupled with the central bank of India is still space for further expansion of the balance, the profit on the Indian stock market has a chance to catch up with other countries emerging markets,
2. keeping up with the United States, the Bank of Canada to adjust the direction
The Bank of Canada kept interest rates unchanged, and eliminates the need to raise interest rates next word when the economic data continue to worsen in the future, may have to cut interest rates rather than the American currency movements.
3. External shocks even Japan to raise interest rates in the foreseeable future
According to external shocks in demand, Japan automotive and industrial production forecasts remain optimistic, without the annual rate of increase in prices, the Bank of Japan to continue to do something as well as the possibility of expanding monetary easing there.
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