The US Treasury Secretary Janet Yellen has come up with the proposal for a price cap to limit the flow of cash to Russia. The purpose of this is to make it more difficult for Vladimir Putin to finance the war in Ukraine.
Friday was a red stock market day on Wall Street.
- The Dow Jones fell 0.49 percent, to 31,880 points.
- The S&P 500 fell 0.97 percent, to 3,960 points.
- The Nasdaq fell 1.99 percent, to 1,800 points.
The yield on the ten-year US government bond fell 14.1 basis points to 2.767 percent. Thus, the ten-year-old ends with a weekly decline of 17 basis points. The German counterpart with a 10-year maturity, the Bund, by comparison, fell 18.2 basis points during Friday, to 1.038 percent.
This is a decrease of 0.09 percent this week, when the European Central Bank increased interest rates by 50 basis points. In advance, there was speculation as to whether the increase would be 25 or 50 basis points.
On Friday, the PMI figures (Purchasing Managers Index, journal. note) for the eurozone published. They showed that the PMI in the eurozone was 49.4 in July, against 51.9 the previous month. In advance, an index of 51.0 points was expected, according to Trading Economics.
French PMI weakened across all sectors, while Germany’s PMI indicators showed a decline for the first time this year. One can therefore ask the question whether there would have been an increase of 50 basis points, and not 25, if the interest rate decision had been taken after the figures came out.
Oslo Stock Exchange
Oslo Børs ended last week with a strong rise on the last trading day of the week, and ends the week with a 3 percent rise.
At closing time on Friday, the main index stood at 1,204.00 points, 1.6 per cent up for the day.
Macro:
Germany: IFO index July, at 10:00 a.m
USA: Chicago Fed-index june, kl. 14.30
USA: Dallas Fed index July, at 4:30 p.m
Foreign:
Ryanair
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