Prossime settimane

Vix . La mm5 (che smussa i picchi) è scesa , è appena superiore alla media degli ultimi 3 anni : ancora pazienza. P/C .La mm10 è scesa , ma ancora molto alta : cautela . Le previsioni di volatilità sono per una stabilizzazione , ed il valore è ancora a livelli elevati : incertezza . Il Baltic Dry Index , che dovrebbe indicare lo stato dei commerci nel mondo , è leggermente sceso , ma è ancora un indicatore positivo . Il Dollar index è sceso : positivo . Il decennale USA è sceso , ma è abbondantemente sopra alla mm 10 mesi.Il rame è ancora salito anche se rimane sotto la MM200 giorni. Per l'ISM , siamo in attesa del dato di novembre , che dirà se riesce a superare la MM10 mesi.Il WLIW (U.S. Weekly Leading Index ) è leggermente risalito , ma l'istituto che lo pubblica continua a vedere grigio. Conclusione ? Alcuni dati indicano bel tempo ed altri no . Le azioni non sono ancora sottovalutate . Io aspetterei ancora qualche settimana a rientrare sulle azioni e asset class più o meno correlate per evitare di afferrare il coltello mentre cade . Ovviamente tutti questi discorsi non contano se si persegue una strategia tipo PBVROA . Di seguito le notizie più rilevanti dell'ultima settimana per testata e in ordine di tempo . (SOLE 24 ORE) - Le banche francesi hanno chiesto prestiti alla Bce più di quelle italiane e spagnole . Il premier polacco Tusk: bene la lettera dell'Italia . (FInancial Times) - Pressure grows on ECB to cut interest rates . Service and industrial activity contracts for second month . Equities firm on optimism over eurozone deal . Better China factory data embolden bulls . Berlusconi’s cabinet stalls on pension reform . Italian PM promises ‘major’ decisions on economy . Bankers fear political moves will kill off CDS : However, one thing is certain, say bankers: there is a risk that political interference in the CDS markets may end up hurting the peripheral and other economies by forcing borrowing costs higher and ushering in tighter lending conditions for banks and companies rather than helping to navigate the continent’s debt crisis. Stocks surge in wake of eurozone deal : Euro hits seven-week high above $1.41 and bank stocks leap . US growth accelerates to 2.5% : Confirms some expectations that economy is improving . German economists halve growth forecasts . (BLOOMBERG) - U.S. Stocks Fall on Data; UPS Slumps. Economy in U.S. Surpasses Pre-Recession Level. (REUTERS) - U.S. rating likely to be downgraded again: Merrill. U.S. homeowners who owe more than their properties are worth got new help on Monday when a U.S. regulator expanded a government program in a step that could help up to one million borrowers. With the S&P 500 about to end its best month in almost 40 years, many would be happy to cash in gains and start packing for the ski slopes. Commentary says China not a "savior" for Europe. (WSJ) The euro-zone's private sector contracted at a faster pace in October, highlighting a growing risk that the region could slip back into recession, according to Markit's preliminary October purchasing managers index. Consumer confidence unexpectedly dropped in October to its lowest level in two-and-a-half years, while housing prices were unchanged at anemic levels in August, data showed on Tuesday. Risks are rising that a moribund job market and potentially steep drop in inflation could push the United States into a downward spiral of falling wages and prices. Stocks finished a rocky day with strong gains as investors grew optimistic about European leaders' ability to contain the region's debt crisis, taking hope from the possibility of Chinese investment in the euro-zone bailout fund. Doubts Rise on EU Deal : Relief over Europe's latest attempt to end its debt crisis faded as investors fretted about the plan's lack of detail and grew more skeptical on Italy's turnaround. Investors Jump at New Emerging-Market Bonds. (MARKETWATCH) Treasury prices advanced Tuesday, pushing yields down, after the government’s auction of 2-year notes met with strong investor demand. U.S. manufacturing and metal companies curbed their outlooks Tuesday, a sign that expectations of economic growth remain choppy for the rest of the year, especially demand in Europe. The U.S. economy likely had its best performance of 2011 in the third quarter, growing at nearly 3% , the government is expected to report. Euro-zone leaders plan to leverage the region's 440 billion euro ($609 billion) bailout fund to give it 1 trillion euros in firepower, Reuters reported Wednesday. Euro-zone plan lacks 'bazooka' : New bid to contain crisis wins applause from markets but may lack the firepower and depth required of a permanent solution. Stocks reach level last seen in August, but many investing experts see more turbulence ahead.