Infrastructure Plan and Crypto, Powell Doesn't Last Forever, Oil

3 авг. 2021 г.

The week began with a bouncy positive from the USA. It looks like the epic with Biden's infrastructure plan is heading for its happy ending. Perhaps not complete and final, but still. Senators say the $ 550 billion bill, the largest federal spending plan for public works in decades, will be passed within days. The plan, as it stands, includes about $ 110 billion in new spending on roads and bridges, $ 73 billion in power grid upgrades, $ 66 billion in railways, and $ 65 billion in broadband expansion.

Recall that they plan to finance this holiday at the expense of cryptocurrency lovers. We are talking about tightening the reporting requirements for transactions with cryptocurrencies in order to tax them. Crypto brokers will be required to report digital asset transactions, including virtual currencies, to the IRS. And companies have to report cryptocurrency transactions worth more than $ 10,000. In this light, Bitcoin at 40K is a great opportunity to sell at a higher price.

Last week, the Fed said its word very clearly and made it clear that the ultra-soft monetary policy of the US Central Bank is completely and completely satisfied. It would seem that the question is closed. But already in September the FRS may have a new head and possibly a new vision of the situation. In general, it is absolutely not worth relaxing as a buyer in the stock market, because the new chapter may well discern inflation with all that it implies.

Yesterday was marked by oil sales. Apparently, the markets finally decided to pay attention to the fact that from August 1, production under OPEC + will increase by 400K b / d and will do this every month until December inclusive, increasing the total volume of production increase by 2 million b / d. Add to this weak data from China, hinting that the peak of the recovery has been confidently passed, and the economy is slowing down more and more, and we will get a 4% drop in oil by the end of the day.