Archives of “October 19, 2021” day

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European major indices end mostly higher

  
Analysis, Global Indices

France’s CAC unchanged on the day

The European major indices are ending mostly higher. The France’s CAC is unchanged to down marginally.

The provisional closes are showing:
  • German DAX, +0.33%
  • France’s CAC, unchanged
  • UK’s FTSE 100, +0.25%
  • Spain’s Ibex, +0.65%
  • Italy’s FTSE MIB, +0.5%
in other markets as London/European traders look to exit:
  • Spot gold is trading up $6.08 or 0.34% $1770.40
  • Spot silver is up $0.69 or is 3.0% at $23.87
  • WTI crude oil futures are trading up $1.16 or 1.42% at $83.44
  • The price of bitcoin is back positive at plus $600 or 0.96% at $62,628. The high for the day did reach $63,337.54
In the US stock market, the major indices remain higher on the day. The NASDAQ and S&P are working on their fifth consecutive day to the upside.
  • Dow industrial average +157 points or 0.45% at 35416.32
  • S&P index up 26.48 points or 0.59% at 4513
  • NASDAQ index up 88.58 points or 0.59% at 15111
In the US debt market, the longer end yields are higher while the short run yields are lower increasing the yield spread. The two – 10 year spread is up to 122.6 basis points from 116.3 basis points at the close yesterday.
France's CAC unchanged on the day_

Bitcoin ETF set to start trading

  
Analysis, BITCOIN

I expect this will be one of the best ETF debuts ever

Bitcoin ETF poll
Welcome to the BITO era in bitcoin trading.
That’s the ticker for the Bitcoin futures ETF that’s set to debut at the bottom of the hour. I would have loved to see multiple bitcoin ETFs approved at the same time so we could see a horse race and have the market decides. As we saw in Canada, the first out of the gate gets all the volume and the race is pretty much over after that.

Evergrande’s main unit said to have remit funds to pay onshore coupon due Tuesday

  
  Analysis

Reuters with the headline, citing sources familiar with the matter

Evergrande’s main unit, Hengda Real Estate, has reportedly remit funds to pay its onshore coupon due today. So, that does provide some comfort that they are not missing out on any more payments – for now at least.
But keep an eye out on 23 October, which will mark the end of the grace period of when Evergrande missed its first bond payment last month. That will see the firm formally enter default and the headline itself may spook markets a little.

The Federal Reserve FOMC blackout period begins Saturday October 23

  
  Analysis

Friday this week, October 22, is the final day for any Fed speakers for a week and a half.

This is the ‘blackout’ policy from the Federal Reserve, which limits the extent to which Federal Open Market Committee participants and staff can speak publicly or grant interviews.
The period begins the two Saturday’s preceding a FOMC meeting and ends the Thursday following.
For the November 2-3 meeting the ‘no Fed Speakers’ period is October 23 to November 4.
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