One week scan:
Epidemic situation: the new variant virus Omicron is coming, and about 70% of the new cases in Europe account for the world. In the last week, the newly confirmed and dead cases of covid-19 pneumonia increased by 8.0% and decreased by 2.8% respectively. Europe added 2.494 million new cases a week, accounting for about two-thirds of the global new cases. The scope of the European blockade continued to expand, and Austria, Slovakia and the Czech Republic issued blockade measures. The National Institute of infectious diseases of South Africa has found a new variant of covid-19 strain Omicron, which is the most seriously mutated strain found so far. People infected with the new variant strain have been found in Israel, Belgium and Hong Kong, China. The United States, Britain, Singapore, Israel and some EU countries have successively announced the suspension of relevant flights and passengers in southern Africa.
Overseas: Powell was nominated for re-election as chairman of the Federal Reserve, and many countries intend to release oil reserves. US President Biden nominated Powell for re-election as chairman of the Federal Reserve and Brainard as vice chairman of the Federal Reserve. Clarida, vice chairman of the Federal Reserve, Waller and Bostik, directors, said that it is necessary to accelerate the cancellation of monetary stimulus policy and remain open to raising interest rates earlier. Finance minister Yellen reiterated to raise the debt ceiling. The minutes of the October meeting of the European Central Bank show that high inflation is still temporary to a large extent, but the current price "Hump" will last longer than previously thought. The Japanese government has prepared an additional budget of 36 trillion yen to fund the stimulus plan. U.S. government officials announced that they would release 50 million barrels of strategic oil reserves to curb the continuous rise of oil prices. Britain, Japan, South Korea and India also said they would release them together. The core PCE of the United States in October hit a 30-year high year-on-year. The euro zone PMI began to pick up in November.
Prices: Shenzhen Agricultural Products Group Co.Ltd(000061) wholesale prices fell and international oil prices fell as a whole. The Shenzhen Agricultural Products Group Co.Ltd(000061) wholesale price 200 index of the Ministry of agriculture fell month on month this week. This week, the international oil price declined as a whole, China's steel price rebounded, and the price of thermal coal was the same as last week.
Liquidity: the capital interest rate is divided, and the US dollar index is up. The weekly mean value of dr001 decreased by 7.8bp month on month, and the weekly mean value of dr007 increased by 7.9bp month on month. The average dollar index rose to 96.5.
Performance of major categories of assets: A-Shares rose slightly and treasury bond interest rates fell. A-Shares rose slightly this week, while other major indexes in international markets fell. Non ferrous metals led gains in China's equity. The weekly average yield of 10-year Treasury bonds fell 6.3bp this week.
Risk tip: policy changes, economic recovery is less than expected.
