MILANO – The data on US inflation released yesterday, with price growth back to the level of January, gives the market hope of a less aggressive stance on the part of the Fed. Yesterday Wall Street he had a euphoric day with the S&P which closed its best session since 2020. Europe is therefore starting entirely upward. The same optimism also in Asia, which also benefits from the easing of some anti-Covid restrictions in China, such as the reduction of quarantine days for those traveling from abroad. Hong Kong flies and on the final bargaining runs by 7%. Also toast Tokyowith the Nikkei closing + 2.98%.
The inflation effect is also felt on commodities. Oil rose sharply in the morning, with WTI contracts expiring in December trading at $ 88.24.
Currencies, euro stable
Euro little moved against the dollar this morning on the currency markets: the single European currency is trading at 1.0212 dollars with an increase of 0.03%. Compared to the yen, the euro changes hands at 144.7100 with an increase of 0.56%.
Spread slightly moved at 198 points
The spread between BTP and Bund opens slightly at 198 points, compared to 199 points at yesterday’s closing. The yield of the Italian 10-year goes back to 4%, up by one basis point compared to 3.99% on the eve of the year.
Germany, inflation confirmed at 10.4%
The inflation rate in Germany in October 2022 is confirmed + 10.4%. This was announced by the Federal Statistical Office. Prices have undergone a further increase after 10% in September. The main reasons for the high inflation are still “huge increases in the prices of energy products. But we are seeing more and more price increases for many other goods and services as well,” says Georg Thiel, president of the Federal Statistical Office. “The increase in food prices – he adds – is now particularly evident for private families”. As the Federal Statistical Office also reports, consumer prices increased by 0.9% in October compared to September 2022.