Macro strategy Daily: China's PMI returned to the expansion range, and the Federal Reserve considered accelerating the reduction of bond purchase

Asset performance and capital changes:

China's top five commodity prices: coking coal 3.08%, dynamic coal 2.50%, manganese silicon 1.19%, coke 0.68%, hot coil 0.35%; Lpg-6.58%, crude oil-5.36%, Zheng mian-5.29%, low sulfur fuel oil-5.24%, ta-4.51% precipitation capital inflow and outflow top five (100 million yuan): PP1 36. Hot coil 1.32, thread 1.20, crude oil 1.08, Huyin 0.74; Shanghai nickel -3.50, Zheng Mian -2.92, Shanghai copper -2.60, palm -2.41 and Shanghai rubber -2.38 plate precipitation capital inflow and outflow (100 million yuan): non ferrous metals 672, black building materials 1.03, precious metals 0.53, energy and chemical industry -5.64, Shenzhen Agricultural Products Group Co.Ltd(000061) - 11.71

Important news and economic data:

China's official manufacturing PMI in November was 50.1, an increase of 0.9 percentage points over the previous month, returning to the expansion range; The PMI of non manufacturing industry was 52.3, a slight decrease of 0.1 percentage point over the previous month; The comprehensive PMI was 52.2, an increase of 1.4 percentage points over the previous month.

Fed chairman Powell said that the risk of high inflation has increased; With regard to inflation, it is time to give up the word "temporary"; Tools will be used to stop deep-rooted high inflation; High inflation is expected to continue until the middle of next year; Consider ending the debt purchase plan several months in advance; We will discuss accelerating the reduction of debt purchase at future meetings; The Omicron variant cannot be evaluated at present; But the strain is now a risk. Japan's unemployment rate in October was 2.7%, both expected and previous values were 2.8%.

Risk tip: transmission of Omicron mutant virus

 

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