Weekly

March 11 th
Today's volatility range:
Gold price continued to rebound yesterday, the yield of US 10-year treasury bonds was lowered, and the US$ 1.9 trillion of the epidemic relief plan was about to enter the market. The new supply pushed down the US dollar index and contributed to the increase of gold. However, the earlier increase in yield actually reflected that the market expected inflation to come, which would benefit the performance of gold price. On the other hand, the economic recovery momentum in the United States will depress the price of gold, so gold has not yet confirmed its turn at this stage, and it is testing the downward trend of rising through two days, and it is expected that it will still struggle between 1700 and 1740 dollars in the short term. Today's proposed volatility is between $1719 and $1732.
Title: Wrong abacus
Cathay Pacific announced its results, and SARS-CoV-2 hit the global aviation industry, resulting in a total loss of HK$ 21.648 billion in 2020. Cathay Pacific laid off employees in October last year in order to tighten spending, and announced the end of its Dragonair operation. The Hong Kong government borrowed money and shares in private companies for the first time, pumping nearly HK$ 30 billion to save Cathay Pacific. However, judging from the transcript, it seems that some people in the Hong Kong government miscalculated. Will Cathay Pacific delay or even walk away in the end, and finally fail to recover taxpayers' money? I hereby appeal to the rich man to be careful!
It's not just the Hong Kong government that has miscalculated. Cathay Pacific suffered such a huge loss. First, the aviation industry was sluggish and its income was greatly reduced. However, the fuel hedging loss appeared in Cathay Pacific's donation statement for a long time. In the past year alone, it lost more than HK$ 3 billion. In the past 10 financial years, the accumulated net loss of fuel hedging was about HK$ 28.5 billion. Cathay Pacific's analysis and investment direction on international oil prices may be worse than that of Batroxobin here! Or Cathay Pacific can also consider giving back to the people of Hong Kong, and announce every hedge, which will scare everyone.
The epidemic situation in Europe continues to ease. French Finance Minister lemerre told the media that France's economic recovery is strong, and it is estimated that France's GDP will increase by 6% in 2021. The news stimulated the stock market in the euro zone to rise. Germany and France rose for three consecutive days, the German stock market reached a new high, and the German DAX index rose by 0.71%; French CAC index rose by 1.11%, while British FTSE 100 index fell by 0.07%.
The yield of US Treasury bonds fell to 1.5%, and the US House of Representatives finally passed the $1.9 trillion COVID-19 relief plan. President Biden will formally sign the implementation plan on Friday. The Biden administration is studying to increase investment in national infrastructure. Investors are worried that the US economy will accelerate its recovery from the epidemic, and cyclical stocks will lead the market, with the Dow Jones index rising 1.46%; Standard & Poor's Index rose by 0.61%; However, technology stocks were soft, and Nasdaq index fell 0.04%.
Gold price continued to rebound yesterday, with the yield of U.S. 10-year treasury bonds lowered to 1.5%. In addition, the US$ 1.9 trillion of the epidemic relief plan is about to enter the market, and new supply pushed down the US dollar. The US dollar index fell below 92 points to 91.8, which contributed to the increase of gold. The lowest price of gold was US$ 1,708 per ounce yesterday, and the highest price was US$ 1,727 per ounce yesterday, rising by US$ 11.
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