The Japanese actions rose more than 5% to a historical maximumwhile Yen collapsed on Monday after the election of Sanae Takaichi – a moderately expansive fiscal and monetary policy – as leader of the ruling party, which leads her to become the first woman Prime Minister of the country. Gold reached a new record, near US $4,000and Bitcoin rose to a historical maximum, since investors sought refuge in alternative assets due to the uncertainty generated by the closure of the US government.
The Nikkei index first exceeded 48,000 points after Takaichi beat the most moderate Shinjiro Koizumi in the internal vote of the Democratic Liberal Party, which fed the expectations of greater fiscal stimulus.
He yen fell to a 2% against the dollar, overcoming the 150 per dollar for the first time from August 1, and depreciated to a historical minimum in front of the euroreaching the 176.25. Concerns about Japanese public debt They promoted the 30 -year bond performance to a historical maximum, while short -term bond yields They backed away, reflecting lower bets to new rates of rates by the Japan Bank (BOJ).
The chances of the Boj rising rates before the end of the year dropped to 41%, from 68% on Friday. Although Takaichi had described “stupid” the Boj’s decision to raise rates last year, his recent tone is more prudent and has said that monetary policy must “be aligned with the government.”
According to Morgan Stanley MUFG Securitiesthe fears that your administration promotes an excessive fiscal expense or politically presses to the Central Bank “are exaggerated”, since their position seems to coincide with that of the governor Kazuo Uedafavorable to a cautious normalization of monetary policy.
In the rest of Asia, many markets remained closed by holidays – including Continental China, South Korea and Taiwan-. He Hang Seng Hong Kong fell 0.7%while the Australian index receded a 0.1% in a low volume day.
How Opera Wall Street, El Oro and Bitcoin
In Wall Street, S&P 500 futures advance 0.3% after Friday’s record closureand the future of the European Stoxx 50 remained stable, with the markets of the continent also in historical maximums. The US dollar regained ground against the euro and the pound, taking advantage of its impulse against the YEN. The euro dropped 0.26 % to US $ 1,1714, and the sterling pound fell 0.22 % to US $ 1,3440.
Gold is negotiated around US $ 3,927, after touching a maximum of US $ 3,944, and the Bitcoin remains close to US $123,600, after reaching US $ 125,653 on Sunday.
“The closure of the government this time does matter,” he said Geoffrey KendrickChief of Research in Digital Assets of Standard Chartered Bank. “This year, Bitcoin has reacted to the risks associated with the US government, something visible in its relationship with the term premium of the treasure bonds,” he added.
“I suspect that Bitcoin will continue to rise during the closure of the government and will soon reach US $ s135,000”, He predicted Geoffrey KendrickChief of Research in Digital Assets of Standard Chartered Bank.
Oil prices upload
Petroleum prices also rose after OPEC+ announced on Sunday that will increase production by 137,000 barrels per day (BPD) from November, the same moderate monthly increase as in October, amid persistent concerns about a possible excess of supply in the market.
In the days before the meeting, Grupo Sources indicated that Russia defended an increase of 137,000 BPD to avoid pressing the downward prices, while Saudi Arabia preferred a double, triple or even quadruple increase of that figure to recover market share more quickly.
Brent futures rose 1.3%, to US $ 65.36 per barrel, while the American West Texas (WTI) also advanced 1.3%, up to US $ 61.69.
Source: Ambito
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