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September 21 – SoftBank Group is seeking to issue more than $11 billion in bonds, which would be one of the largest junk bond deals in history. Sources familiar with the matter said on Monday that the conglomerate, led by Masayoshi Son, is ramping up its investment in OpenAI. The sources said SoftBank plans to issue $10 billion in dollar bonds with three maturities, and €1 billion (approximately $1.1 billion) in euro bonds with two maturities. This funding will partly support follow-up investments in OpenAI expected to be completed next month.On September 21st, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4510%, and the lowest was 0.7070%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0310%, and the lowest was 0.8660%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0930%, and the lowest was 0.9020%.On September 21st, Tomo Kinoshita, a strategist at Invesco Asset Management (Japan), stated in a report that following last Fridays increase of the policy rate to 1.25%, the Bank of Japan (BOJ) may further raise the rate to 1.50% in December. Despite the BOJs recent multiple rate hikes, its quarterly corporate surveys show that corporate financing conditions have barely deteriorated. Upside risks to inflation have increased due to rising energy prices and a weaker yen. The Federal Reserves hawkish shift is also increasing the risk of yen depreciation. Kinoshita predicts that the BOJ will raise rates further in March and July next year, bringing the rate to 2.0%, thereby ending the current tightening cycle.September 21 - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 a.m. on Tuesday, September 22, 2026. Liu Guohong, Secretary of the Party Leadership Group of the Ministry of Natural Resources and Inspector General of the National Natural Resources, and Yan Zhen, Deputy Director of the National Forestry and Grassland Administration (National Park Administration), will introduce the relevant situation on promoting the safe, efficient and sustainable use of natural resources and answer questions from reporters.On September 21, Westpac Chief Economist Lucie Ellis moved her expectation for a Reserve Bank of Australia (RBA) rate hike forward to September, stating that the RBA governors remarks met the committees conditions for further rate increases set in August. She acknowledged tactical reasons for waiting, including the release of the August monthly CPI the following day and the potential for awkward public perception due to a slight easing of tensions in the Middle East, fuel tax adjustments, or a weak employment report. However, she concluded that hawkish comments carried more weight than these factors. Westpac anticipates a divided vote due to differing views on trend productivity, labor supply, and the degree of labor market slack, while underemployment has risen significantly.

S&P 500 Price Forecast – Thin Labor Day Trading

Skylar Shaw

Sep 06, 2022 16:15

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Technical Analysis of the S&P 500

Limited electronic trading on Monday saw the S&P 500 fluctuate within a fairly narrow range, which is not a great surprise given that Labor Day is now taking place in the United States. Nevertheless, the 3900 level is providing support for the market, which is a positive development. If we were to go below that point, we may be able to go further below. The likelihood is that we will then try to descend to the 3800 level. Following that, the low at the level of 3637 would be our next target.


Currently, rallies should encounter significant resistance, particularly at the 4061 level, where it seems that the 50-Day EMA is attempting to cross lower. In the end, the Federal Reserve has maintained a strict monetary policy, and a recession is unavoidably on the horizon.


Having said that, there isn't really a good reason to think that the S&P 500 will continue to rise for a while. Yes, there is a chance for a little rebound, but it's more likely to be a buying opportunity. The macroeconomic environment does not call for that kind of trading, therefore I don't really have a circumstance where I want to be a buyer. The markets will remain quite boisterous, and Tuesday's opening could be a little chaotic.


More often than not, sellers will continue to rush into this market at the first symptoms of tiredness since the market will almost certainly continue to see a lot of loud and disruptive conduct.

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