Pulso de Mercado: Intradía

Nos vamos a tener que ir de vacaciones nosotros a UK, que vamos camino de la paridad:

Implicaciones fenómeno AMZN.

WalMart resiste porque su modelo es un poco distinto, y además sus trabajadores prácticamente necesitan ayudas sociales para subsistir. Hubo mucho debate en EEUU sobre los salarios de WalMart y las condiciones laborales, y el coste que asumen allí los taxpayers por todo eso.

Amazon hunde a su competencia y a los propios vendedores que comercializan sus productos a través de Amazon. Si Amazon detecta que un producto se vende bien, y no tiene ninguna restricción a la hora de comprar ese producto en un volumen alto, lo compra, baja el precio y le quita el negocio a los propios vendedores que utilizan Amazon como plataforma.

Yo tengo una buena hucha en CostCo, para mí la mas saneada y mejor gestionada del sector en USA

"If Draghi’s comments today are anything to go by we should not get our hopes up. Draghi steered well clear of upcoming monetary policy decisions and if reports last week are to be believed, he may well do so again on Friday.

Cómo lo ves?:

This week’s Jackson Hole meeting of central bankers is, as we have already suggested, not expected to provide much in the way of fireworks from the ECB’s Mario Draghi. But what of US Federal Reserve chair Janet Yellen (who may well be leaving her post early next year and might want to spell out the Fed’s direction of travel before that happens)?

Kully Samra, UK managing director at Charles Schwab, said:

It is tempting to view this year’s Jackson Hole gathering of central bankers as the moment where we move from an age of quantitative easing (QE) to that quantitative tightening (QT), which sees a smooth reduction of gilt buying from the world’s key central banks. The US Federal Reserve is leading the charge, and we expect to get more detail from Janet Yellen on the Fed’s QT plan, in order to slowly unwind its bloated balance sheet. We have confidence that the Fed has little desire to jolt the financial markets, but it and the market are in uncharted territory as unwinding a $4.5 trillion balance has never been done historically.

Received wisdom has it that where the US leads the world follows and Mario Draghi’s speech will be closely monitored for an indication that the curtain is about to fall on the ECB’s QE experiment.

However, the EU has very different challenges to the US economy and has not yet entered the rate rising environment that the US has. A firm signal that the ECB is to tread the same path as the Fed will precipitate volatility and Draghi will be keen to ensure that eurozone growth is not negatively impacted. Given the US’s ‘taper tantrum’ experience, we expect any pronouncements from Draghi to be guarded. On a relative basis, we continue to believe that US stocks are attractive compared to European equities, given that the country is over the initial hump caused by the move from QE to QT.     <---

TEF aún sigue bajista desde el 09/06/2017, ya que, ese día tocó aproximadamente los 10,184 euros, espero que mañana o pasado suba porque están muy bajos los indicadores y tienen que tener un respiro.

Un saludo

Con zoom

No está previsto que vayan a dar pistas claras de lo piensan para el ultimo quatrim.

https://blog.degroofpetercam.com/sites/default/files/august_2017_-_presentation_on_central_bank_policy.pdf