Timber price surge
May 11, 2021 (Tuesday) Cloudy
・Cyberattacks on critical infrastructure are increasing rapidly.
In the United States, the nation's largest oil pipeline halted, and the Biden administration is acting to prevent confusion, deeming it a top priority.
A wide range of sectors, including factories and water services, are targets of cyberattacks, and the global "damages" in 2020 were 468 cases, 1.5 times that of 2019.
・Major banks launch smartphone services that allow cheaper remittances.
Mitsubishi UFJ <8306> [Closing price 607.9 yen] Sumitomo Mitsui <8316> [Closing price 3,970 yen] Mizuho <8411> [Closing price 1,622 yen]
Resona <8308> [Closing price 468.2 yen] Begin with the five Saitama Resona Bank group banks.
Settlement using smartphones decreases. The per-transfer limit is around 100,000 yen. Fees are set by each financial institution.
・Prime Minister Yoshihide Suga is delaying dissolution and a general election in the current Diet session; a plan to hold it around this autumn is gaining momentum.
The prime minister prioritizes vaccination, and the dissolution timing may come as the term of House of Representatives members nears completion.
(Nikkei Front Page)
・Keidanren on the 10th announced that Chairman Hiroshi Nagai (Hitachi <6501> [Closing price 5,384 yen]) will resign due to ill health, and
the successor, Masakazu Togura of Sumitomo Chemical <4005> [Closing price 603 yen], will become chairman, as announced.
・In India, where COVID-19 infections are rising at the world’s worst pace, business closures and reductions are spreading.
Local motorcycle giant Hero MotoCorp announced an extension of production stoppages; Yamaha Motor <7272> [Closing price 2,875 yen] will halt motorcycle production.
Suzuki <7269> [Closing price 4,297 yen] planned to resume four-wheeler production on the 10th but paused until the 16th.
Japan Steel Works <5401> [Closing price 2,281.0 yen] All expatriates return to Japan, but plants continue to operate normally through remote control, etc.
・The oil pipeline stoppage due to cyberattacks prompts the government to respond urgently.
On the 9th, temporary easing of regulations was implemented to avoid confusion and to facilitate auto fuel shipments.
If stoppages prolong, oil product prices may rise.
・On the 10th, the Ministry of Finance announced that the so-called "national debt" consisting of government bonds, borrowings, and government short-term securities totaled 1,216,463 trillion yen as of the end of March 2021.
An increase of 101,923.4 billion yen from the same period last year, reaching a new record high.
The increase had been about 10–20 trillion yen in recent years, but expanded sharply due to fiscal stimulus amid the COVID-19 crisis.
・Triggered by the COVID-19 crisis, cashless trends are accelerating worldwide.
Capgemini’s survey shows that in 2021, cashless transactions in Japan rose by 70% from five years earlier, to about 839.5 billion transactions, with projections to exceed 1 trillion by 2023.
・Excess liquidity from monetary easing and fiscal stimulus is rapidly driving investment money toward loans to high-risk companies.
In March, the amount of lending for leveraged loans to lower-rated corporate borrowers in the US and Europe reached a monthly high of $123 billion (about 13 trillion yen).
The creditworthiness of borrowing companies has deteriorated, posing risks of future market turmoil due to debt problems.
・Rideshare giant Uber Technologies’ stock underperforming.
In the US stock market, the stock fell for three consecutive days through the 6th, down 15% to $46.65, its lowest since the start of the year.
Selling pressure was driven by concerns that costs to bring back drivers laid off during the pandemic have grown.
・In the United States, lumber prices surged due to shortages.
A housing boom emerged in the US due to ultra-low interest rates and remote work during the COVID-19 pandemic.
Wood demand surged, and prices rose about sixfold in a year.
In Japan, imported lumber prices rose and procurement became difficult, signaling a “shock.”
・As of 4:00 PM on May 10, the number of COVID-19 cases worldwide (deaths) compiled by Johns Hopkins University: global total 158.3 million (98,820)
US 32,707,797 (238) India 22,662,575 (3,769) Brazil 15,184,790 (1,024) France 5,838,294 (115) Turkey 5,031,332 (283) Russia 4,824,621 (328)
UK 4,450,578 (2) Italy 4,111,210 (139) Spain 3,567,408 (0) Germany 3,530,887 (55) Argentina 3,147,740 (283) Colombia 3,002,753 (495)
From here, published in [Koronya Morning Premium]
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