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Bond index warns hawkish central banks: please think twice about raising interest rates.
Central banks may have to turn to doves again after turning hawkish for a while. The index used to measure growth in the bond market has issued an ominous warning as central banks around the world have raised interest rates near historic lows. Traders speculate that interest rates will rise by up to 161 basis points next year against the backdrop of the cost of living in developed countries such as the UK, New Zealand and South Korea, as well as soaring commodities. The Fed has distorted the yield curve signal through bond purchases for more than a decade, but as the yield curve index tends to be in line with other growth indicators, and stagflation has become a hot topic on Wall Street, leading investors to open
Japan's initial GDP in the second quarter grew at an annualised rate of 1.3% compared with the previous quarter and is expected to grow by 0.5%.
The Cabinet Office of Japan released initial data on gross domestic product (GDP). Japan's GDP grew 0.3% month-on-quarter in the second quarter and is expected to grow 0.1%. GDP grew 7.5% year-on-year. Nominal GDP rose 0.1 per cent month-on-month, with an estimated decline of 0.3 per cent. Private consumption increased by 0.8% month-on-month, which is expected to be flat. Corporate spending increased by 1.7% month-on-month, with an estimated increase of 1.3%.
Luxury giant Kering Group rebounded Gucci sales exceeded pre-epidemic levels
Sales of Gucci have risen above pre-epidemic levels, and the Italian brand continues to attract young consumers not only through social media campaigns, but also from the lifting of blockades by countries. Kering Group, the owner of the brand, announced on Tuesday that Gucci's comparable sales grew by more than 86 per cent in the second quarter. Analysts expect growth of 77%. Gucci's performance contributed to an 11.2 per cent year-on-year increase in total revenue in the second quarter. Before Kering, companies such as LVMH and Richemont reported excellent results as consumers around the world spent the money they saved during the epidemic to buy luxury goods.
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