Daily Archives: September 7, 2020

Summary Key Macro Events

Markets are closed on Monday for the Labor Day holiday and the Fed is in blackout before its next meeting Sept. 15-16. (7)

NFIB for August (10)

Boris Johnson will tell the European Union on Monday he’s willing to walk away rather than compromise on what he sees as the core principles of Brexit, setting an Oct. 15 deadline for a deal. (7)

Japan’s ruling party will hold public debates among candidates for its leadership race on Sept. 9 and 12.

The U.K. government is planning new legislation aimed at overriding key parts of the Brexit withdrawal agreement. The bill is expected to be published on Wednesday. (9)

BoC Meeting (9)

ECB Meeting (10)

PPI for August (10)

CPI for August (11)

 


 

The stock market shakeout is likely not over yet, even with Friday's comeback https://t.co/9dzIj8Z0eD

— CNBC (@CNBC) September 4, 2020

What to be on the lookout for in the world economy this week (via @CraigStirling) https://t.co/3oZ9I2Tp9k

— Bloomberg Economics (@economics) September 7, 2020

Brexit talks, ECB meeting, Japan leadership race https://t.co/JzlrEhIPmJ

— FT Economics (@fteconomics) September 6, 2020

#Brexit | Johnson Gambles on No-Deal Plans as EU Talks Run Short of Time – Bloomberghttps://t.co/IeTM8zJToW

— Christophe Barraud (@C_Barraud) September 7, 2020

U.K. Seeks to Override Parts of #Brexit Withdrawal Pact: FT – Bloomberghttps://t.co/HSmiLGtzEv

— Christophe Barraud (@C_Barraud) September 7, 2020

 


 

Focus on Economic Calendar

Tips From Top Forecasters: U.S. Economic Calendar (w37) | NFIB, PPI, CPIhttps://t.co/YocX5OYWjW

— Christophe Barraud (@C_Barraud) September 5, 2020

Schedule for Week of September 6, 2020 https://t.co/jwazcP44JW The key economic report this week is the August Consumer Price Index (CPI).

— Bill McBride (@calculatedrisk) September 5, 2020

 


 

Top 10 Macro/Financial Charts of the Previous Week – w36

⚠ Top 10 Macro/Financial Charts of the Week – w36 ⚠

HT @Investingcom, @Schuldensuehner, @pat_hennessy, @sentimentrader, @BittelJulien, @TaviCostahttps://t.co/mXW70ssBKV

— Christophe Barraud (@C_Barraud) September 6, 2020

 

Top 10 Charts (Options Trading, Nasdaq, Tech) – w36

⚠ Top 10 Charts (#Options #Trading, #Nasdaq, #Tech) ⚠

HT @Schuldensuehner, @sentimentrader, @zerohedge, @MacroCharts, @EricBalchunashttps://t.co/zgd5hWNdxo

— Christophe Barraud (@C_Barraud) September 5, 2020

Europe

According to the European Centre for Disease Prevention and Control, 23 European countries have crossed a key threshold of new coronavirus infections. Latest data showed that the countries have recorded cumulative 14-day infection totals higher than 20 per 100,000 inhabitants, considered an early alarm level by many health experts.
 

Source: European Centre for Disease Prevention and Control (data as of Sep. 6th)

 

Germany

#Germany's confirmed #coronavirus cases rise by 814 on Mon. (v 988 prior and 610 last Mon.) – RKI
*Link: https://t.co/LoHFnnUCU0 pic.twitter.com/8SclQYwQ5k

— Christophe Barraud (@C_Barraud) September 7, 2020

 

Spain

Casos COVID notificados hoy por las CCAA:

– CAT —> 1.214
– AND —> 680
– PV —> 608
– CYL —> 445
– ARA —> 423
– MUR —> 365
– CAN —> 314
– NAV —> 265
– GAL —> 252
– CNB —> 119
– EXT —> 108
– AST —> 51
– CEU —> 8
– LRI —> ?*
– MAD, CLM, CV, BAL, MEL —> 0

– TOTAL —> 4.852

— Miguel Ángel Reinoso (@mianrey) September 6, 2020

 

France

#FRANCE REPORTS NEW 7,071 #CORONAVIRUS CASES IN PAST 24 HOURS (V 8,550 PRIOR AND 5,413 LAST SUN.)
*Positivity Rate: 4.9%❗(v 4.7% prior).
*Santé Publique France: https://t.co/bZLT3Rguuz pic.twitter.com/43WKu1pTcT

— Christophe Barraud (@C_Barraud) September 7, 2020

Mise à jour avec les données du jour pour les tests (03/09). ⚠️Les taux de la semaine 36 (cette semaine) sont estimés uniquement avec les données du 31/08 01-02-03/09 (suivre l'évolution avec les données disponibles les prochains jours). https://t.co/oGJiH6e9rU pic.twitter.com/no2nSOA3GA

— Germain Forestier (@gforestier) September 6, 2020

Visualisation des évolutions des nouvelles hospi/réa/décès/rad par semaine depuis la fin du confinement.@EricBillyFR @Le___Doc pic.twitter.com/hxPws9oE9v

— Germain Forestier (@gforestier) September 6, 2020

7 nouveaux départements ont été classés en zone de circulation active du #COVIDー19 dont 6 sont situés en métropole
➡ Notre carte >https://t.co/3mlCykiu83 pic.twitter.com/UuCarVpDD2

— Le Parisien (@le_Parisien) September 6, 2020

 

Italy

#ITALY REPORTS 1,297 VIRUS CASES SUN. (VS 1,695 SAT. AND 1,365 LAST SUN.)
*Link: https://t.co/FWQszjNVxD pic.twitter.com/pgS0kIvF3K

— Christophe Barraud (@C_Barraud) September 7, 2020

 


 

Daily New Confirmed Cases (7-day moving average)


*Note: Data can’t be directly compared to lockdown period amid methodology change and increasing frequency of tests (see below).

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

Americas

Mnuchin: GOP, Pelosi to agree on continuing resolution to avoid shutdown, as stimulus talks stall – Fox Newshttps://t.co/IPk5jabejd

— Christophe Barraud (@C_Barraud) September 7, 2020

‘Downbeat’ US executives dump most stock in a month since 2015 – FT
*Link: https://t.co/DMD6gmSVqC pic.twitter.com/LKzcbAitYx

— Christophe Barraud (@C_Barraud) September 7, 2020

Poll: Biden lead over Trump evaporates in Texas https://t.co/PfCiy8QaW0 pic.twitter.com/Mw7d5yqUgO

— The Hill (@thehill) September 7, 2020

New York school district delays start of year after mass resignations, leaves of absence https://t.co/ojt4F2RCzF pic.twitter.com/0IO2BGsRzh

— The Hill (@thehill) September 7, 2020

The U.S. Navy is searching for a sailor missing from one of its aircraft carriers in the Arabian Sea https://t.co/eBzTNJnqLD

— Bloomberg Asia (@BloombergAsia) September 7, 2020

Weather service records hottest temperature on record in LA County https://t.co/Bzdxur9YYt pic.twitter.com/m6067ILW4q

— The Hill (@thehill) September 7, 2020

Asia

Asian shares start cautiously amid elevated valuations, oil skids https://t.co/lgKn8tF9yc pic.twitter.com/xU1J4B8n33

— Reuters Business (@ReutersBiz) September 7, 2020

Indian stocks extend retreat on rising infections and a weak economy https://t.co/hx63mxjRVp

— Bloomberg Asia (@BloombergAsia) September 7, 2020

Shares of SMIC, China's largest chipmaker, plunge 19% after the U.S. says it could blacklist the firm https://t.co/nPI560FNYb

— CNBC (@CNBC) September 7, 2020

A third Chinese company says a major holder accidentally sold its shares, increasing speculation that insiders may be testing the market before offloading stakes https://t.co/KfeEmAnwd4

— Bloomberg Asia (@BloombergAsia) September 7, 2020

China's exports rise at fastest pace in nearly 1-1/2 years as economies reopen; imports slip https://t.co/2IvgG7U4Bz

— Reuters China (@ReutersChina) September 7, 2020

#China imposes new visa restrictions targeting US media – CNNhttps://t.co/IA1ejOQPf2

— Christophe Barraud (@C_Barraud) September 7, 2020

State aid helps #China #tech leaders shrug off US sanctions – Nikkeihttps://t.co/YpRla1GmQj

— Christophe Barraud (@C_Barraud) September 7, 2020

Singapore is seeing a Covid-19 surge in dormitories for migrant workers https://t.co/Hr690swpL7

— Bloomberg Asia (@BloombergAsia) September 7, 2020

Europe

European stocks set for higher open in attempt to rebound from losses https://t.co/wGq5leXpr7

— CNBC (@CNBC) September 7, 2020

#Europe #Covid_19: Daily Summary (September 7th)https://t.co/ENtxUZQnc1

— Christophe Barraud (@C_Barraud) September 7, 2020

-Slowing German industrial output points to a long recovery ahead
-Boris Johnson gambles on no trade deal as EU talks run short of time
-Italy's business elite gets a taste of government intervention
Here's a rundown of your top economic news today https://t.co/jSag0wV3k3

— Bloomberg Economics (@economics) September 7, 2020

#Brexit | Johnson Gambles on No-Deal Plans as EU Talks Run Short of Time – Bloomberghttps://t.co/IeTM8zJToW

— Christophe Barraud (@C_Barraud) September 7, 2020

U.K. Seeks to Override Parts of #Brexit Withdrawal Pact: FT – Bloomberghttps://t.co/HSmiLGtzEv

— Christophe Barraud (@C_Barraud) September 7, 2020

Much like with David Frost’s interview today in @MailonSunday this evening’s news that the government is planning domestic legislation that would undermine parts of the Withdrawal Agreement incl Irish Protocol, now has EU figures asking “Who is this news aimed at?” /1

— katya adler (@BBCkatyaadler) September 6, 2020

Austrian Chancellor Sebastian Kurz, in interview with daily la Repubblica, reiterates that EU recovery plan is an emergency reaction and not a step toward a “debt union” for the bloc – Translation from Bloomberghttps://t.co/MjFQiBQJdD

— Christophe Barraud (@C_Barraud) September 7, 2020

This is how strong the #equity market recovery has been so far… Chart by Goldman Sachs. pic.twitter.com/DiPk9zOxR8

— jeroen blokland (@jsblokland) September 7, 2020

who owns the stock market pic.twitter.com/An8wX1yAcc

— Sam Ro (@SamRo) September 7, 2020

Big tick down in DM IT breadth. The % of stocks closing above the 50DMA fell to 47% on Friday, a 15% decline from the day earlier. This is the 1st sub 50% reading since Feb 24th. Something to monitor, as w/ the previous close <50%, DM IT was just 7% off the highs, same as today. pic.twitter.com/MxIF5IdWKW

— Julien Bittel, CFA (@BittelJulien) September 7, 2020

What worries me about this week's ECB
1. Markets see the ECB as divided
2. Those divisions keep ECB "behind-the-curve"
3. So there is little room for nuance on low inflation
4. Definitely don't "explain away" low Aug core inflation
5. Instead, call low inflation a "grave concern" pic.twitter.com/K2AJZn6qEE

— Robin Brooks (@RobinBrooksIIF) September 7, 2020

If you thought the velocity of money in the US was low (1.10), check out Japan were the velocity of money has dropped to 0.4. Only part of the money created is flowing around. pic.twitter.com/ObA0p0UTBP

— jeroen blokland (@jsblokland) September 7, 2020