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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.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.