MILANO – 10.35 am. The European stock exchanges start down again with the investor focus on tonight when the Fed chairman Jerome Powell he should speak at the end of the usual monthly meeting of the US Central Bank’s monetary policy committee. The Fed is expected to announce improving economic estimates, but indications are also expected on the next steps to face a possible increase in inflation that has already spurred Treasury yields in recent weeks.
Fed moves and the risk of derailing the recovery. This is why withdrawing central bank stimulus is more dangerous than launching it
by Raffaele Ricciardi
“It is unlikely that the Federal Reserve announced a change in monetary policy, confirming its very accommodative stance “, reason from Mirabaud AM. The focus is on the” dot plot “, the dot plot that gives a graphical representation of where each Fed member imagines himself. place rates in the years to come. According to Unicredit, despite the improved prospects for the US economy and in light of the FOMC’s clear intention not to remove stimuli too quickly, the most accredited forecast is that the vast majority of American bankers still indicate firm rates during 2023, although it would not be surprising to see a slightly larger minority than forecasts for a first hike before the end of 2023.
Among these arguments, the European stock exchanges are moving weakly: Milano is just above par, London yields the 0.35%, Frankfurt 0.1% e Paris 0.19% On the bank of Piazza Affari the green light of the ECB and the Bank of Italy was registered for the takeover bid launched by Credit Agricole on Creval last November. Asian stock exchanges are also not very busy, with Tokyo which closed with a fractional drop of 0.02%.
Stable it spread in startup. The BTP / Bund spread stands at 96 basis points, with the Treasury bond rate at 0.62%. The euro is also without major jolts. The European currency changes hands at 1.1905 dollars and 121.91 yen but even in this case the exchanges are cautious waiting for indications this evening from the Fed.
On the other hand, three commodities move upwards in the prices of Petroleum US WTI for April delivery rose 0.65% to $ 65.22 a barrel, while European Brent rose 0.51% to $ 68.74. There was also a slight increase inoro, at $ 1,737.15 an ounce.
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