March 29th-April 2nd, 221-Summary of this week

(The following information is arranged in chronological order)

International highlights of this week

1 (Biden's $2.25 trillion infrastructure bill was released, Senate * * and Party boycott Biden's "new infrastructure")

On Thursday, Biden announced the market's long-awaited $2.25 trillion infrastructure stimulus bill and tax increase policy. The signal of huge scale and leaked tax increase information made US Senate * * and Party leader McConnell say: * * and Party will not support Biden's $2.25 trillion infrastructure and employment plan. The United States should build what it can afford, not bring down the American economy by raising taxes and borrowing!

2 (Suez Canal reopened, OPEC+ unexpectedly reached an agreement to increase production)

On the 2nd, the Suez Canal Authority said that nearly all the ships that had been waiting in line because the freighter "Ever Given" ran aground had passed, and 61 ships that were still waiting would pass through the canal on the 3rd, while only 422 ships queued when "Ever Given" just got out of trouble. On the 2nd, about 8 ships crossed the canal in both directions, including an American aircraft carrier, an LNG tanker and an oil tanker. OPEC+ returns to the phased production increase agreement!

Global Vision

1 (Spot gold rebounded, closing price was $1,729.88/oz)

Gold fell below four barriers in a row, falling to the level of $1,68/oz. India's gold import reached a record in March. Due to the global market closure on Good Friday, gold closed at $1,729.88/oz in advance!

2 (the strength of the US dollar index broke through the 93 mark, and the effective federal funds rate of the Federal Reserve declined for the first time since February)

The explosion of positions in the century continued to ferment, which had a certain impact on the market of highly leveraged financial products, and was boosted by better-than-expected employment data. The yield of US bonds rose with the US dollar, and the safe-haven funds chose the US dollar, which caused the risk aversion of the US dollar to heat up. The US dollar index continued to strengthen and broke through the 93 mark! The strength of the dollar suppresses the rebound of gold!

3 (The non-agricultural data in the United States was strong in March, and Biden predicted that the infrastructure plan would create 19 million jobs)

The employment data released by the US Department of Labor on Friday (April 2) showed that 916, new jobs were created in the non-agricultural sector in the United States in March, and the unemployment rate dropped to 6%, which was the largest increase in the US job market since last August. According to the US Department of Labor, the labor market showed "general growth" in March, which reflected that the US economy was continuing to recover from the impact of the new crown epidemic. The employment report of the United States in March was better than expected. Stimulated by multiple factors such as accelerated vaccination, the $1.9 trillion bailout bill and the relaxation of epidemic prevention measures by enterprises, the American economy is continuing to recover.

Biden commented on the non-agricultural data on Friday, saying that the current government created more jobs in its first two months in office than at any time in history! At the same time, 19 million jobs will be created after the infrastructure plan is passed!

4 (The U.S. debt market faced the impact of non-agricultural data during the Good Friday holiday, and the yield rose across the board)

The trading day on Friday was shortened due to the holiday, and the yield of 5-year U.S. debt reached the highest level since February 22 due to the strong employment data in March. U.S. bond yields rose across the board, led by five-year yields, which once rose by 7.8 basis points to .979%; The yield of 2-year US bonds once rose by nearly 3 basis points to .188%, the highest since June 22.

The 5-year US debt underperformed the broader market, reflecting people's expectation for the Fed to raise interest rates ahead of schedule. 2s5s1s is higher than for the first time since March 22.

The yield of 1-year and 3-year US bonds is still within the range of Thursday; About half an hour after the employment report was released, the 1-year US Treasury futures traded in large blocks, which accelerated the change in the yield of 1-year Treasury bonds. The yield of 1-year US bonds rose by less than 5 basis points this week; Thursday (the first trading day of the second quarter) fell by 7 basis points; In the first quarter, US Treasury bonds recorded the biggest quarterly decline since 198.

5(OPEC+ ministerial meeting reached an agreement to increase production, and demand growth is expected to heat up)

The OPEC+ministerial meeting ended, and oil-producing countries agreed to increase production by 35, barrels per day in May and June respectively, and by 45, barrels per day in July, including Saudi Arabia's voluntary reduction of 1 million barrels per day in the next three months. Russia says it will increase production by 114, barrels per day from May to July. The next ministerial meeting of the Joint Ministerial Supervisory Committee and OPEC+will be held on April 28th.

The meeting thinks that the global supply shortage is already in progress, and it may accelerate. The demand figures in the United States are "very stable", and the European epidemic prevention blockade is only a "temporary speed bump".

(RBA interest rate resolution-April 6)

The RBA interest rate resolution was announced at 12: 3 on April 6, Beijing time, with the previous value of .1% and the expected value of .1%

(the number of people applying for unemployment benefits in the United States from April 3 to April 8)

The United States from April 3 to the beginning of the week. The trading hours and data release time of European financial markets are one hour earlier than in winter, that is, 15: pm Beijing time.