Financial Pacific - Daily Market Update (third party)


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Financial Pacific - Daily Market Update (third party)

  1. 1. DAILY MARKET UPDATEGeneva, August 22th, 2011 Value Daily % chg YTD AMERICASEQUITY DOW INDU 10817.65 -1.57% -6.56% SP500 1123.53 -1.50% -10.66%If last week started out timidly in the green, stocks resumed their NASDAQ 2341.84 -1.62% -11.72%downward trend after the European summit failed to restore investors BOVESPA 52447.63 -1.29% -24.32%confidence and meet their expectations. Worries about the European debt EUROPEcrisis spilled over into the banking sector. After Morgan Stanley, JP Morgan EUROSTOXX 50 2152.57 -0.30% -22.92%and Wells Fargo lowered their global growth previsions for FY11. U.S FTSE 100 5033.66 -0.14% -14.68%stocks tumbled on these concerns about the global economy. European CAC 40 3016.07 -0.03% -20.73%stocks also declined, led by banks and carmakers. Asian stocks fell, with DAX 5480.00 -2.19% -20.74%the regional index declining for a fourth straight week, as the global stock ISE NATIONAL 100 52489.81 1.05% -20.48%rout continued amid signs of a sluggish world and threats to the European SMI 5093.75 -1.97% -20.86%banking system. ASIA NIKKEI 225 8719.24 -2.51% -14.76%FIXED INCOME HANG SENG 19399.92 -3.08% -15.78%A further increase in investor worries about global growth and the impact CSI 300 2807.66 -0.94% -10.25%of the EMU debt crisis on European banks drove strong long-end Treasury ASX 200 4101.90 -3.51% -13.56%market gains and a sizable bull flattening over the past week. However, INDIA 16141.67 -1.99% -21.30%continued upside in inflation led investors to temper their expectations for MIDDLE- EASTimminent new Fed easing. Fed Chairman Bernanke’s comments will be LEBANON 1299.60 0.26% -11.93%awaited at the Kansas City Fed’s Jackson Hole conference on Friday. Rising JORDAN 2022.63 -0.06% -14.79%concerns about European bank funding put further upward pressure on TADAWUL 5916.31 -2.82% -10.64%LIBOR/OIS spreads. DSM 8096.09 -1.16% -6.74% ADX 2555.86 -1.07% -6.03%FOREX/COMMODITIES KUWAIT 5764.30 -1.07% -17.13%Crude oil fell on concern that a slower global economic growth will reduce EGYPT 466.38 -3.10% -29.71%fuel demand. These same concerns pushed gold to a record above $1,880 FXan ounce in New York, as equities fell and the need for the protective EUR-USD 1.4397 0.45% 7.57%haven grew. The yen reached a post-world War II high of 75.95 versus the USD-JPY 76.550 -0.04% -5.63%dollar last week, on speculation that the Bank of Japan will weaken its GBP-USD 1.6465 -0.31% 5.46%currency in light of this faltering economy. USD-CHF 0.7851 -1.13% -16.05%Source: Bloomberg, Brokers research EUR-CHF 1.1303 -0.68% -9.63% COMMODITY GOLD SPOT 1852.1 1.55% 30.36% Weekly economic data Survey Actual WTI FEB 2010 82.26 -0.15% -12.80% 08/23 EC PMI Manufacturing 49.5 08/23 EC PMI Services 50.9 INTEREST RATE T-5 days 31.12.2010 08/25 EC Euro-Zone Consumer Confidence -12.4 US GOVT 2 Yr YIELD 0.1893 0.1909 0.5934 08/26 US Initial Jobless Claims 405K US GOVT 5 Yr YIELD 0.8956 0.9900 2.0060 08/26 JN Tokyo CPI YoY -0.2% US GOVT 10 Yr YIELD 2.0623 2.3053 3.2935 08/26 US GDP QoQ (Annualized) 1.1% GERMAN GOVT 5 YR YIELD 1.2160 1.3940 1.8380 08/18 US U. of Michigan Confidence 56.0 GERMAN GOVT 10 YR YIELD 2.1050 2.3250 2.9630 EUR/USD GOLD 1st resistance 1.4626 1st support 1.4168 1st resistance $1944 1st support $1760 2nd resistance 1.4767 2nd support 1.4027 2nd resistance $2000 2nd support $1703This document has been prepared by Banque Audi (Suisse) S.A. The opinion expressed in this document is not the result of financial analysis provided by Banque Audi (Suisse) S.A. Therefore the regulation of the Swiss Bankers Association regarding theindependence of financial analysis does not apply to this document. Accordingly, the views expressed in this publication are not official recommendations of Banque Audi (Suisse) S.A. and should be considered as market comments for informationpurposes only. As such, the views herein may be subject to changes and are indicative only. This document should not be considered as an offer or recommendation to buy or sell any financial instrument or banking services. The document has beenprepared without regard to the individual financial circumstances and objectives of persons who receive it. The securities mentioned in this document may not be suitable for all investors. The appropriateness of a particular investment or strategy willdepend on an investor’s individual circumstances and objectives. Many factors may affect the value of a financial instrument. Investors shall therefore conduct their own analysis of the risks (including any legal, regulatory, tax or other consequence)and benefits associated with a transaction in a given financial instrument and should seek independent professional advice. Although this document has been produced with all reasonable care, based on sources believed to be reliable, Banque Audi(Suisse) S.A. makes no representation or warranty as to the accuracy or completeness of this document and accept no liability for any loss or damage which may arise from the use of this document.Banque Audi (Suisse) S.A., 18, Cours des Bastions P.O. Box 384, 1211 Geneva 12