[5 books this morning] Selected news to read before starting work
A sensitive issue
The US Treasury Department is the July-September federal government'sAmount required to borrowThe outlook was revised downward. The net loan amount for July-September was 740 billion dollars. The previous forecast as of April 29 was 847 billion dollars. Most bond dealers anticipated this downward revision. Also, of the quarterly regular bid announced by the ministry on the 31stIssuance scaleIt has become politically sensitive. The background is that some Republican lawmakers criticized the Biden administration for manipulating the issuance of US bonds. Among dealers, the prevailing view is that the scale of issuance of medium- to long-term bonds will remain unchanged for 2 consecutive quarters in line with conventional guidance.
Effects of financial results on stock prices
Morgan StanleyMichael Wilson pointed out that while investors are concerned about the impact on price determination due to slowing inflation, there is a high possibility that the deterioration in the outlook for US corporate profits will hit economy-sensitive stocks. “Our view is that it is not a material to support rotation into a wide range of cyclical stocks,” he said.Bank of AmericaAccording to the strategist of, the S&P 500 stock price index constituent companies whose sales and profit per share exceeded Wall Street's expectations surpassed the S&P 500 by 2.4 points in transactions the day after the financial results were announced. This is said to be a high performance since the fourth quarter of 2018.
Unexpected decline in sales
McDonaldThe April-June (2nd quarter) financial results showed a decrease in sales since 2020. Analysts anticipated a slight increase in sales. Existing store sales decreased 1% from the same period last year. Sales declined in each regional segment, and a decrease in the number of customers visiting stores in the United States had an impact. Earnings per share, excluding some items, did not reach analysts' predictions. Guidance on opening new stores and operating margins was maintained. Sales of the $5 set menu began in the US at the end of June. It seems that certain results have been achieved, but the effect of increasing sales will be shown in the second half of this year.
Election obstruction
Votes were cast and counted on the 28thVenezuelan presidential electionProsecutor General Saab criticized opposition leader Maria Colina Machado by name at the press conference on the 29th as the mastermind who carried out the sabotage operation. They argued that Mr. Machado was involved in an attempt to falsify voting results sent to the election administration headquarters. Although regarded as the winner of the election, the incumbent President Maduro, whose results are widely questioned by the international community, stated that the aggregation of results was delayed due to cyber attacks. Mr. Saab never announced the issuance of an arrest warrant for Mr. Machado or his prosecution for specific crimes, but international criticism of the Maduro system seems to intensify even more.
“Respected young lady”
Jue, the daughter of General Secretary of the Workers' Party of Korea Kim Jong-un, is said to be in her early teensNorth Korea's Next LeaderSouth Korea's National Intelligence Service reported to lawmakers of the same country that they were receiving the education they should have. It is said that the National Intelligence Service explained at the meeting that Mr. Jue, who is introduced by the North Korean state media as a “respected young lady” and “beloved child,” is a candidate for a successor to the Kim family. The Kim family has continued to control North Korea since it was founded in the latter half of the 1940s.
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