While the global markets followed a mixed course due to the increasing inflation pressure due to the problems in the supply chain and energy supply, today the eyes were turned to the speeches of the central bank governors of the USA, Europe, Japan and England at the European Central Bank Central Banking Forum.
Problems in the supply chain and energy supply around the world continue to strengthen the risk perception. The increase in inflation pressures due to the aforementioned problems triggered sales in bond markets on a global basis.
While uncertainty regarding the bond payments of Chinese real estate giant Evergrande continues, international rating agency Fitch Ratings downgraded the company's credit rating from CC to C.
In the USA, the crisis regarding the increase in the debt ceiling continues. In their statements in the Senate yesterday, both the US Federal Reserve Chairman Jerome Powell and the US Treasury Secretary Janet Yellen said that not raising the debt ceiling would be a disaster.
On the other hand, Powell referred to the maximum employment and inflation targets they took into account in reducing their asset purchases, and noted that they are far from the maximum employment target.
The 10-year bond yield of the USA, which carried its upward trend for the fourth day in a row with increasing inflation concerns, was also stabilized at 1.53 percent after rising to 1.56 percent, the highest level since June 25.
Analysts stated that the speeches of the central bank governors of the USA, Europe, Japan and England today at the European Central Bank Central Banking Forum may have an impact on the direction of the markets.
With these developments, it was seen that the sales in the New York stock market increased the effect yesterday. The S&P 500 index fell 2.04 percent, the Nasdaq index fell 2.83 percent and the Dow Jones index fell 1.63%. Index futures contracts in the New York stock exchange started the new day with reaction purchases.
In Europe, while natural gas prices continue to break records, this situation continues to feed inflation concerns. According to the statement made last night, electricity used by households in Italy increased by 29.8 percent and natural gas by 14.4 percent due to cost increases in electricity production.
After increasing inflation concerns, European stock markets followed a sales-weighted course in parallel with the US stock markets, while the FTSE 100 index in the UK was 0.50 percent, the DAX index in Germany 2.09 percent, the CAC 40 index in France 2.17 percent and Italy's MIB 30 index lost 2.14 percent in Turkey. In futures, index contracts are following a mixed course at the moment.
The euro/dollar parity is trading sideways at 1.1686, after seeing its lowest level since August 20 at 1.1668 yesterday.
While problems related to the supply chain continue in Asia, coal prices rose to record levels after the problem in electricity supply in China, which obtains a significant part of its electricity from coal.
In Japan, on the other hand, the internal election of the ruling party is at the center of the agenda. None of the 4 candidates competing in the ruling Liberal Democratic Party's (LDP) leadership election won a majority of the votes in the first round.
With these developments, Shanghai composite index in China lost 1.52 percent, Nikei 225 index in Japan lost 2.60 percent and Kospi index in South Korea lost 1.55 percent.
BIST 100 index in Borsa Istanbul, which followed a seller course in line with the global stock markets yesterday, closed the day at 1,383.77 points, 0.57 percent below the previous closing.
Dollar/TL, on the other hand, is trading at 8.8710 at the opening of the interbank market today, after closing at 8.8760 with an increase of 0.60 percent yesterday.
Analysts stated that today, in addition to the speeches of the heads of important central banks on a global basis, the economic confidence index in the country, the Eurozone consumer confidence index abroad and the pending home sales data in the USA will be followed, and technically, the levels of 1,370 and 1.340 in the BIST 100 index will be supported. He said that 1.420 points have reached the resistance position.
The data to be followed in the markets today are as follows:
10.00 Turkey, September economic confidence index
12.00 Eurozone, September consumer confidence index
17.00 US, august pending home sales
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