STOCK MARKET
the situation remains weak squares on the stock. The week just ended has seen widespread losses on MSCI indices with very few exceptions. Among the industrialized countries should be given the best performance in Australia and Hong Kong while the worst are Italy and Norway. Among the emerging countries is the best that Korea has the third consecutive week of increases.
In terms of force Koreano on the market is by far the best on a weekly and monthly on a quarterly basis the most interesting areas are China and India.
However you look, year to date the squares of the Pacific and Emerging Asia is the driving force on the list, proving that it is from this region that is dividing the world economy. On the macroeconomic front we can not fail to note that, for the first time, the Chinese car market has passed the U.S. is interesting because it had never happened before that a market economy is emerging as a major consumer impose consumer durables .
extremely delicate, however, the situation on Western financial markets: the major indexes, after breaking the resistance formed by the downward moving average of 50 sessions are struggling to come back to it. A fundamental recovery in no time at this level, otherwise we should take note that the downward pressure on the markets have taken over and, therefore, adjust our asset allocation.
Crucial will be the quarterly performance of major U.S. companies expected this week: for the moment the U.S. S & P 500 index is characterized by a lateral trading range accompanied by low volume and volatility in decline:
Operationally it is best to take a waiting position by freezing the positions in place: the market is clearly in a phase of uncertainty that may result to a new fall or to even further gains all depend on the profits that will be announced in the coming days. Among the titles included
nell'EuroStoxx50, the basket which collects the major Blue Chip of the old continent to point out the excellent performance in terms of relative strength and technological titles Telephone (Mobile and Ericsson in the lead), pharmaceuticals (the industry shows the relative strength index with more than excellence in Roche and AstraZeneca), especially to be kept under observation two major banks Europe: the English Banco Santander and BANCO BILBAO (BBVA) for months that are not only outperforming the sector index but also the general index. As for the FTSE
MIB, we confirm the report a few weeks ago in relation to Ansaldo STS.
BOND MARKET
Last week we dealt with the Corporate Bond, Investment Grade and High Yield that.
This week I would like to report an ETF listed on the Milan Stock Exchange that tracks the performance of government bonds indexed to inflation:
Again, the alert may be somewhat 'from the lows of late February / March when the same ETFs listed in a good 10% less, but I think there is still room for growth, particularly if the stroke of commodity prices should start force feeding expectations of higher inflation
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