Hedgeové fondy, Čína, Čína, Zlato, geopolitika ovplyvňujú trhy

SVET

• Russia shifts funds to the military, cuts social programs and education. Russia’s proposed budget for next year allocates 17.1 trillion rubles to the military, 27 percent more than originally planned, the highest amount since the war in Ukraine began. Social programs, education, healthcare, and the national economy will receive less than originally planned.
• Expected inflation remains above the Fed’s target, officials disagree on urgency of further tightening. August’s PCE index, a key inflation gauge for the Fed, is estimated to show inflation significantly above the 2 percent target. Barr expects continued rate hikes, Williams sees no reason to rush, and a CNBC-cited Wall Street estimate suggests a BEA methodology revision could pull the July 12-month figure closer to 3 percent.

EURÓPA

• Russia took control of the Russian branch of Metro, despite a 10.3 percent rise in sales. Vladimir Putin signed a decree on the temporary administration of Metro’s Russian branch, taken over by Torg RUS, the head of Metro Russia. The German retail chain formally retains ownership, the decree gives no reason.
• The Poland-Slovakia gas pipeline remains unused, imports hampered by high prices, according to WNP.pl. The Poland-Slovakia connection, completed in 2022, remains unused – Slovakia, according to WNP.pl, is not using the possibility of importing gas from Poland due to high prices. Eustream and GAZ-SYSTEM negotiated in January 2026 to make gas transport from Polish LNG terminals via Slovakia to Ukraine more attractive.

SLOVENSKO

• A balanced budget would lead to a 3.7 percent economic decline, according to IFP. The Institute of Financial Policy calculated that balancing the state budget in 2027 would lead to a 3.7 percent decline in the economy and a 4.4 percent decline in employment. The basic September forecast of the Ministry of Finance of the SR, however, expects a slight acceleration of growth.

ZLATO

• AMI: Risks stalled or froze over $54 billion in Latin American mining. Americas Market Intelligence estimates that surface risks – permitting, community conflicts, and security – have caused losses or frozen capital in Latin America’s mining sector of over $54 billion since 2018. Analysts note the cumulative figure does not prove annual risk growth or a general decline in regional attractiveness.
• Venezuelan gold for the US market stuck in warehouses due to origin concerns. Gold from state firm Minerven reached the US under an agreement supported by the Trump administration. According to The New York Times, it remains in warehouses because refineries must prove the metal did not finance criminal groups, corruption, or environmental destruction before processing.

AKCIE

• UniCredit plans to replace Commerzbank’s management after takeover. UniCredit plans to replace CEO Bettina Orlopp and ten members of the supervisory board after gaining control of Commerzbank. Control of the bank could be achieved as early as January 2027. The German government and unions oppose the move, and shares of both banks fell after the dispute escalated.
• Cboe and S&P Dow Jones extended SPX options license to 2051. Cboe Global Markets and S&P Dow Jones Indices extended the exclusive license agreement for index options by 25 years and indicated interest in exploring tokenized options contracts. Cboe shares rose more than 6 percent on the news, no tokenized product exists yet.

KRYPTO

• Canadian “Crypto King” goes to court alone, judge denies adjournment. Aiden Pleterski faces a four-week jury trial in Toronto for fraud and money laundering without a lawyer; the judge announced he will assume an expanded role to raise objections on his behalf.
• Aztec Labs relaunched zk.money privacy wallet on Ethereum. Aztec Labs has revived zk.money, a wallet that hides payment amounts and recipients, after three years, but with limits on individual transactions and a combined daily deposit cap.

NEHNUTEĽNOSTI

• US home prices rose 2.5 percent in July, but are falling in real terms. The S&P/Case-Shiller index recorded a 2.5 percent year-on-year increase in nominal home prices in 20 US metropolitan areas in July, the largest increase since May of last year. However, after adjusting for inflation, prices have been falling in real terms for the fourteenth consecutive month, and a disparity persists between price developments in the east and west of the country.
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Translated from the Slovak original and checked automatically: every figure must match the source, or this version is not published.