The banking sector in Europe could more easily see the merger and acquisition (M & A) only among the small and medium-sized banks, not the big banks, such as Deutsche Bank and Commerzbank, which were recently riding rumours of a merger. "Mergers and acquisitions among mid-tier EU banks are more likely than large-scale deals such as between Deutsche Bank and Commerzbank, whose recent discussions were reported in the media," Fitch said.
The Swiss National Bank (SNB) left unchanged its monetary policy: the 3-month Libor remains between -1.25% and -0.25% while the deposit rate is at -0,75%. "The negative interest rate and the SNB's willingness to intervene in the foreign exchange market are intended to make Swiss franc investments less attractive, thereby easing upward pressure on the currency", the SNB wrote in the note. For 2016 as a whole, the SNB now expects growth of approximately 1.5%. The institute also reaffirms its intention to remain active on the currency market if necessary. The decision does not represent a surprise: they were expected by all experts polled by Reuters last week.
The German Real Estate market is in a boom phase. The reason, according to a study by Postbank, must be sought in the fact that investors are taking away the savings from the stock and bond market to invest in real estate. Although most Germans seems to prefer the rent to the purchase of the house, the sector of real estate has become an increasingly attractive option. This not only because the cost of rent has suffered significant tweaks to the upside, but also for the obvious benefits that come from a battered economy that continues pushing the monetary policy banks to keep interest rates at historic lows.
The Italian Revenue Agency has specified that the effectiveness of the waiver stops at February 22, 2015, exactly one day before the signing of the agreement between Bern and Rome. The waiver is a permission granted by the Italian current account to his Swiss bank to disclose its financial data to the administration of residence as part of the voluntary disclosure. The communication of information were intended to assign the right sanctions and failure doubling declaratory terms to taxpayers with accounts in collaborative spontaneously countries.
The unemployment rate remains substantially stable in July in UK, even after Brexit, that has not slowed the pace of creation of jobs, according to the data published by the Office for National Statistics (ONS). In July the number of people who applied for unemployment benefit in Britain rose to 2,400 units, compared to 3,600 the previous month. The figure is worse than expected by analysts which estimated an increase of 1,800 units.
Marriage between Bayer and Monsanto, giant seed, may be announced. As reported by the BBC website, after yet another revival of the German company that has put into the pot $ 130 per share, valuing the US group $ 66 billion, the leaders of American society have accepted the offer.
The new Brazilian government headed by Michel Temer announced a plan of economic reforms to groped to revive the economy hit by the crisis without increasing public spending. Temer announced a privatization plan: from the sale of four airports and two harbours to a series of projects such as the construction of new buildings and roads up to the creation of new mines to be entrusted to private companies. "The State can not do everything," the president said during the presentation of the reforms.
Brexit deal has not yet begun, but it already appears uphill, after the European Commission has appointed as negotiator few days ago, the former Belgian Prime Minister Guy Verhofstadt, the current leader of the liberals at the European Parliament. In a tweet he said: "Brexit should be delivered before 2019, when EU politics enters into new cycle & the @Europarl_EN starts new mandate" and pointing out that if the UK wants to continue to have access to the common market, must also accept the freedom of movement of citizens, considering "inseparable" the four freedoms of movement of goods, services, capital and people.
Despite a lack of events in the economic calendar the US Dollar managed to strengthen, and now there is a good chance of the pair settling above 102.70, where the weekly PP coincides with the 55-day SMA. If this is the case, the next resistance to try and stop the advancement will be 103.50, represented by the trendline that originated at the very beginning of the year. Additional resistance is at 104.80 (100-day SMA and monthly R1), but a breach of 103.50 is likely to be followed by a recovery to July highs at 107 yen.
The oil market will remain in a situation of oversupply until at least mid 2017. The International Energy Agency stresses in its monthly bulletin that it has thus reversed its previous forecasts. “Supply will continue to outpace demand at least through the first half of next year. As for the market’s return to balance — it looks like we may have to wait a while longer,” the IEA said in its report.
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Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa
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ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
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