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Gold Spot

Gold was down on Friday as intermittent spikes in the key yield of U.S. bonds kept it under constant pressure. The yield on the 10-year Treasury note hit a two-week high of 1.684 on Thursday as bonds started selling off again this week after a spike in U.S. consumer confidence, which hit 14-month highs in April. The strong economic data dented the non-yielding metal’s appeal, while palladium came off the record high marked in the previous session.

Technical Resistance: 1781/1790

Technical support: 1766/1756

Market headlines:

  • S. Treasury’s Yellen tamps down inflation fears over Biden spending plan
  • Ethereum hits fresh record, eyes $3,000 barrier
  • Global funds hold equity allocations at over 3-year high
  • USDMYR traded at 4.1050

Economic data:

  • 03 May 2021 Malaysia time 3:55pm – German Manufacturing PMI (Apr)
  • 03 May 2021 Malaysia time 10:00pm– United States ISM Manufacturing PMI (Apr)

U.S. Treasury’s Yellen tamps down inflation fears over Biden spending plan

U.S. Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden’s plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade. Federal Reserve will monitor inflation carefully and has the tools to address it if necessary. Cecilia Rouse, chair of the White House National Economic Council, said there is no evidence that portends runaway inflation. But for the time being, it was expected at most transitory inflation, that is what they expect coming out of a big recession.

Ethereum hits fresh record, eyes $3,000 barrier

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain and it is the second-largest cryptocurrency by market cap behind bitcoin. Cryptocurrency ether hit a record high on Monday to trade within a whisker of $3,000, extending last week’s rally in the wake of a report that the European Investment Bank could launch a digital bond sale on the ethereum blockchain network. Ether hit $2,989.95 in early Asia trade. It is up about 300% for the year so far, outpacing a 95% rise in the more popular bitcoin.

Global funds hold equity allocations at over 3-year high

Global stocks have been on a tear, buoyed by fiscal stimulus – mainly from the United States – the expected vaccine-driven economic recovery and robust earnings, putting the MSCI world equity index on track for its best monthly performance since November. While the Fed took an upbeat view of the economy, it waved off policy shift talks and downplayed the expected rise in inflation as transitory. Global asset managers recommended cutting bond holdings to 39.5% from 39.7% last month, the lowest since February 2019. That is the first time in two years where suggested fixed-income allocations have accounted for less than 40% of the model global portfolio for three consecutive months. Treasury bond yields, like equity markets, will be volatile over the rest of the year, but it had expected them to rise gradually as inflationary pressures pick up and the Fed finally begins to reduce its stimulus packages and raise interest rates.

 

Source: Bloomberg, Investing.com, Reuters, CNBC

 

 

黄金现货

金价周五下跌,因美国国债主要收益率的间歇性上涨使金价处于恒定压力之下。 10年期美国国债收益率周四触及两周高点1.684,因美国消费者信心飙升(本周四月触及14个月高点)后,本周债券开始再次抛售。强劲的经济数据削弱了黄金的吸引力,而钯金则脱离了前一交易日创下的纪录高位。

技术阻力:1781/1790

技术支持 :1766/1756

主要头条:

  • 美国财政部耶伦(Yellen)缓解了对拜登支出计划的通胀担忧
  • 以太坊创下新纪录,突破3,000美元大关
  • 全球基金持有的股票分配超过三年来的最高水平
  • 美元兑马币交易 RM 4.1050

 

经济数据:

  • 2021年5月03日,马来西亚时间 3:55 pm – 德国制造业采购经理人指数(4月)
  • 2021年5月03日,马来西亚时间 10:00 pm – 美国ISM制造业采购经理人指数(4月)

美国财政部耶伦(Yellen)缓解了对拜登支出计划的通胀担忧

美国财政部长耶伦(Janet Yellen)周日淡化了对总统拜登(Joe Biden)的基础设施,就业和家庭计划将导致通货膨胀的担忧,称支出将在十年内分阶段进行。美联储将仔细监测通货膨胀,并在必要时提供解决通货膨胀的工具。白宫国家经济委员会主席塞西莉亚·劳斯(Cecilia Rouse)表示,没有证据表明通货膨胀失控。但是目前,人们预计大多数情况下会出现暂时性通货膨胀,这就是他们期望从大衰退中走出来的原因。

以太坊创下新纪录,突破3,000美元大关

以太是促进以太坊区块链交易的数字货币或代币,按市值计算,它是仅次于比特币的第二大加密货币。周一,加密货币以太坊创下历史新高,交易价格在3,000美元的晶须内,延续了上周的涨势,此前有报道称欧洲投资银行可以在以太坊区块链网络上进行数字债券销售。以太币在亚洲早盘交易中报2,989.95美元。到目前为止,今年以来上涨了约300%,超过了更受欢迎的比特币上涨了95%。

全球基金持有的股票分配超过三年来的最高水平

受到疫苗刺激的经济复苏和强劲收益的预期(主要来自美国)的财政刺激措施提振,全球股市已大跌眼镜,这使MSCI世界股票指数有望自11月以来创下最佳月度表现。尽管美联储对经济持乐观态度,但它取消了政策转变谈判,并淡化了通货膨胀预期的暂时性上升。全球资产管理公司建议将债券持有量从上个月的39.7%降至39.5%,为2019年2月以来的最低水平。这是两年来首次,建议的固定收益分配占全球三个模型的不到40%连续几个月。像股票市场一样,美国国债收益率在今年余下时间将波动,但它曾预计,随着通货膨胀压力回升,美联储最终将减少刺激方案并提高利率,收益率将逐渐上升。

 

资料来源: Bloomberg, Investing.com, Reuters, CNBC