Research with economists from BCCh; Advance of the world stock exchanges: Chile today

(Bloomberg) – Global stocks and U.S. futures soared after U.S. President Donald Trump said he was considering a capital gains tax cut. Encouraging news about covid and an unexpected increase in business confidence in Germany also help to boost markets. 10-year Treasury yields increase, while the Bloomberg Dollar index falls and emerging currencies strengthen. Copper falls in London. Oro retreats to the third day.

In Chile, the total number of coronavirus cases reached 375,044 and the number of deaths rose to 10,139.

Today, the market expects the publication of the Central Bank’s economic expectations survey, at 8:30 am.

The CLP fell 1.9% and closed at 802.69 / USD, it was the worst performing emerging currency in the world yesterday. S&P Ipsa fell 0.1%, while CAP advanced 9.1%, its biggest increase in almost five months; read here Inside Andes, other FX columns and the weekly Chile Renta Fija newsletter.

All events in local time.

At 7:13 am, this was the performance of the main indices:

  • 10-year Treasury yield + 2.6 basis points to 0.6%
  • EUR + 0.4% vs USD at 1,179
  • Copper active contract -0.2% to $ 2,855
  • WTI Crude Futures + 1.8% to $ 42.71
  • Bloomberg Commodities Index -0.2%
  • S&P 500 Futures + 0.7%
  • STOXX Europe 600 + 2.1%
  • Shanghai SE Composite -1.2%

INTERNATIONAL:

  • US President Donald Trump has revived the idea of ​​a capital gains tax cut
    • It cannot lower the 20% rate without Congressional support, but it can issue an executive order, although it may encounter legal difficulties
  • Vladimir Putin said that Russia has registered an effective vaccine against covid-19 and that one of his daughters has been vaccinated
    • Hong Kong recorded drop in the number of cases
    • Texas and California also reported encouraging data
    • Global cases exceeded 20 million and the deceased more than 730,000
  • The weak response of the Government of Bolivia to the pandemic and the delay in elections for it have triggered strong demonstrations in the country’s rural center.
    • Groups of union members, miners and coca planters have paralyzed large areas of the camp and at least three protesters have been wounded by gunshots.
    • The first round of presidential and parliamentary elections is scheduled for October 18; originally was to be held in May
Related:   "SPD's most popular politician": SPD makes Vice-Chancellor Scholz a candidate for chancellor - Germany and the world

NEWS:

  • Consumers boost sales of Concha y Toro amid pandemic
  • Fitch upgrades Colbún’s rating to BBB +, stable outlook
  • Nova Austral bondholders approve banknote restructuring
  • Chilean PAC reaches highest value since October due to jump in shipments
  • Chile reports 1,988 new cases of covid-19; 62 dead
  • Emerging market ETFs end winning streak
  • Falling Chilean peso brings it closer to fundamentals
  • Latam Airlines passenger traffic drops 93% in July
  • Corona asks for recovery after not reaching an agreement with the bank: DF
  • The bondholders appeal Judge Garrity’s decision to reverse the Latam fee payment to Oaktree: DF
  • Sharp increase in refusal to nationalize AFP funds: Third
  • Truckers threaten strike to end violence: Mercurio
  • Marcel defends project that allows the Central Bank to buy Treasury debt: Mercury

TO BE PENDING:

  • In Chile:
    • 8:30 am: Economic Expectations Survey of the Central Bank
  • In Chile this week:
    • August 14, 10:30 am: Central Bank of Bolivia President Marcel participates in the Thirteenth Meeting of Economists in Bolivia, organized by the Central Bank of Bolivia
  • International:
    • 8:30 am: US IPP demand in late July; m / m est. 0.3%, former -0.2%
    • Fed Agenda:
      • 11 am: Barkin (Richmond) speaks at an online event
      • 12:00 pm: Daly (San Francisco) attends a business event in California
      • 3 pm: Daly (San Francisco) attends a FinTech event
  • This week:
    • August 13: Mexico and Peru evaluate decision
  • Relevant calendars:
    • South America
    • USA
    • Mexico
    • Brazil
    • Europe

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