Archives of “November 25, 2021” dayrss
Latest data released by Destatis – 25 November 2021
- GDP (non-seasonally adjusted) +2.5% vs +2.5% y/y prelim
- GDP (working day adjusted) +2.5% vs +2.5% y/y prelim
Slight delay in the release by the source. The preliminary report can be found here.
Almost no change to the initial report with only the headline revised to being a touch softer but it reaffirms a slightly modest expansion, though weighed down by supply bottlenecks and rising cost pressures in general.
The outlook in Q4 and going into next year is even less optimistic as supply and capacity constraints are still part of the picture, with the worsening COVID-19 situation adding to headwinds for the German economy.
Positive tones in early trades
- German DAX futures +0.4%
- UK FTSE futures +0.3%
- Spanish IBEX futures +0.3%
This follows a mixed showing in Europe yesterday though US stocks ended the day in a more positive fashion and that mood is carrying over to today, despite lighter trading conditions anticipated in the day ahead.
There isn’t much for traders and investors to work with on the day so a calmer mood may see things keep quieter in general as well.
The Biden administration cited national security and foreign policy concerns.
- 8 technology entities based in China were added to the list for their alleged role in assisting the Chinese military’s quantum computing efforts and acquiring or attempting “to acquire U.S. origin-items in support of military applications.”
Extra stimulus to boost Japan’s economy s it receivers from the COVID-19 pandemic
- spending of 36ltn yen
- government to issue additional new bonds of 22 tln yen in 21/22 fiscal year extra budget
Info via Reuters headlines.
In very brief:
- New York Stock Exchange closed and the CME Globex is closed from 1 pm ET to 6 pm ET.
- early close for the NYSE at 1 pm ET.
SIFMA recommends no bond trading on Thursday and a 2 pm ET close on Friday.
What training that does occur will be in much thinner liquidity conditions than normal.
Still, things could be worse:
Bank of Korea hikes their 7-Day repo rate by 25bps
Pre-decision polling showed a hike was expected.
South Korean consumer inflation rose 3.2% y/y in October
- fastest on-year gain since January 2012