Such News in the US brings some breathing space for Trader – Fed’s Bullard says ‘biggest growth quarter of all time’ will lift inflation

KEY POINTS

  • St. Louis Fed President James Bullard said the U.S. economy will see “off the charts” growth in the third quarter.
  • That will help the Fed meet its newly stated inflation mandate, he added.
  • “I think this will be quite successful,” Bullard said of average inflation targeting (CNBC)

WHAT ABOUT METALS & BITCOIN

Hyperinflation fears; will bitcoin, gold, or stocks win in 2020? – Interesting Article – READ HERE; BUT what is the Technical Chart saying?

TECHNICAL CHARTS – GOLD & BITCOIN

KEY TAKEAWAYS

  • Bitcoin WILL BE challenged this week once again together with Gold as the US economy recovers and Vaccine in progress
  • Appetite for Stock Market will continue to push investors for higher yield
  • Gold will also be challenged with Bearish movement

WHAT ABOUT SP500,DOW30 & OIL?

China’s Crude Oil Imports Are Slowing Down – China’s imports of crude oil have been trending much lower in September than in the past four months, while the rest of Asia is also significantly slowing imports this month with demand still under pressure, IHS Markit said on Friday.  

Crude oil discharged at Chinese ports in the last two weeks were below 8 million barrels per day (bpd), at levels similar to what China imported in March and April, Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime & Trade, at IHS Markit, said in an analysis. READ MORE

WHAT ARE THE TECHNICAL CHARTS SAYING?

KEY TAKEAWAYS

  • Uncertainty still continues for oil industry as new energy and economy slowdown across the world continues
  • We are bearish for Oil but neutral for SP500 & DOW
  • We should see more swings this week especially NASDAQ technology based companies

WHAT PSEI – PHILIPPINES?

BSP to issue bonds starting Sept. 18

The central bank will tap its newfound authority to issue bonds and bills. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the first tranche of 28-day BSP bills would be up for auction on September 18.

He said this was part of BSP’s effort to mop up excess liquidity in the market. “The auction volumes will be small at the outset, to be gradually scaled up depending on market response and consistent with liquidity forecasts,” Diokno said in a statement.

“The issuance of securities by the BSP will add to the existing supply of risk-free financial instruments in the banking system, which in turn could help in the development of the local bond market,” he added.

The BSP’s Treasury Department will be busier than ever, as these new auctions will be on top of the weekly term deposit facility offerings and the overnight funding windows. – BILYONARYO

KEY TAKEAWAYS

  • BSP providing liquidity to the market will sure push the market to good ground
  • There need to be more consumer spending before we really see big movement in the market
  • Watch out for earning report – which across the board is negative for second quarter and this will trigger low volume in the Stock Market
  • Always remember to buy good companies with good fundamental.

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