Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew September 14 2021

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Evergrande under pressure - US CPI as last key event ahead of the FOMC

Good Morning,

On Friday we saw the Nasdaq 100 and the Dax at the same level for the first time, then both came under pressure and the Dax was able to recover more strongly as ECB member Isabel Schnabel come on the wires stating that the recent rise in Inflation was no immediate cause for action. The Dax is trading at 15727, the Nasdaq 100 15455, S&P 500 4476 and the Dow 34947 (Based on the Future)

The 10 Year US yield is at 1.3260, the USD Index at 92.62, EURUSD at 1.1810 Bitcoin 45250 and gold and silver at 1792 and 23.60.

US Democrats proposed a reversal Donald Trump's tax cuts, including raising the top tax rate on corporations to 26.5% from the current 21%.

Evergrande, the giant Chinese real estate developer remains under pressure with yields on it`s 2025 bond rising to 54% and shares falling to a 6 year low.

A fake press release led to a surge in the value of litecoin – it was falsely announced that Walmart would start accepting the digital currency.

Today`s key event will be the US CPI at 14:30 CET expected at 5.3% YoY and 0.4% MoM, the core at 4.2%, this is one of the last key events ahead of the Fed decision next week.

This evening Apple will hold one of it`s product events and likely release a now iPhone, Earbuds and a new version of the watch.

Trade safely



The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.