Turkish stocks collapsed again, with the lira taking a brief plunge on Tuesday. Seeking to predict whether the central bank was on the verge of cutting interest rates were investors, banks and local depositors. This came after the country’s central bank leadership overhaul during the weekend. On Monday, the Turkish lira dived as much as …
Turkish Markets in Confusion over Central Bank Overhaul Read More »
Asian stocks shed earlier gains on Tuesday, as investors took profit on a recent rally in some mainland firms. Receding inflation fears helped though, in shoring up broader sentiment in the region. Chinese shares had run ahead of other Asian markets recently, according to Gary Ng, economist at Natixis. This meant they were due for …
Asian Stocks Reversed Gains, U.S. Treasury Auctions in Focus Read More »
The Canadian Union of Public Employees (CUPE) has negotiated a deal with the Maritime Employers Association for 1,125 longshore workers. This was at the Port of Montreal after their agreement expired in 2018. On Sunday, a seven-month truce agreed to by the two sides had ended. With that, shippers who were hit hard last summer …
Workers at Canada’s 2nd Largest Port Reject Deal Read More »
Asia Pacific stocks were mixed on Monday morning. Markets were shocked with President Tayyip Erdogan replacing Turkey’s hawkish central bank governor. Per Hammarlund, the senior EM strategist at SEB Research, said that the authorities would have two choices. It either vows to use interest rates to stabilize markets, or it imposes capital controls. With the …
Asia Stocks Mixed as Bonds Were Boosted by Turkish Turmoil Read More »
MSCI’s benchmark for global equity markets rose 1% this week. However, it reversed track on Friday due to pressure from a surge in U.S. bond yields. In the week of March 17, technology funds received inflows of $2.19 billion. This came after an outflow of $524 million the previous week. Investors scooped up heavily battered …
The growth outlook in Europe has weakened with the third wave of COVID-19 infections leading to further mobility restrictions. This further delayed economic recovery. Germany recorded the biggest daily rise in confirmed coronavirus cases since Jan. 22 on Thursday. In terms of population, it is the largest EU country. France said it would put eight …
EU Stocks Down, 3rd COVID Wave Derails Hopes; Au Stocks Down Read More »
For the first time on Wednesday, the Dow surpassed 33,000 points after the Federal Reserve projected the strongest growth in nearly 40 years. This comes as the COVID crisis winds down. Moreover, the central bank repeated its pledge to keep its target interest rate near zero for years to come. This year, inflation should exceed …
NASDAQ Futures Lost About 1%, Bond Yields up To 14-Mo. Highs Read More »
The euro-zone economy is lagging behind the United States due to the slow vaccine rollout. This got worse due to the suspension of AstraZeneca Plc’s shot in several member states. The European Central Bank is accelerating its 1.85 trillion-euro pandemic bond-buying program for the next three months. This is to prevent higher yields from further …
ECB Urges Govts to Roll Out Fiscal Push in a Timely Manner Read More »
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