Global Stocks Regaining
After the move made by the Chinese Central Bank last Tuesday and the worldwide markets, but especially the european markets fell down also due to the Greek chapter of uncertain debt negotiations and fragile numbers in the Greek parliament.
The next and quite natural step, has been a slow resurge in the global stock markets as new information came out about the inner reasons why the Yuan has been devaluated. In an ideal world what happened is the exact result of the overpricing of some stocks, which are possibly linked to the Chinese economy and are more pushed to see the negative results of a slowdown in the second world economic power. But what happened is also the result of many and often hidden variables that are directly or not linked to the trend of financial markets.
After two days of decrease, the European markets started to go back to their original development path, but it is also thanks to some big M&A that are currently on the board that we have seen some strong signals. Anyway, the Fed is ready to risen its interest rates to prevent a future bubble in the US financial markets and to act as a break in the financial economy, in order not to push it too far away from what is happening at an industrial and consumer level.
For what concerns the macroeconomic level, this morning Eurostat announced the import-export balance, which is overall positive, with a surplus in exports of 0.2%, which is a six-month high and stands for a trade surplus rose to a seasonally adjusted €21.9bn in June. More details can be found here.