Reuters. Hedge funds are betting that the euro will rise to $1.25 after the U.S. election. (Bloomberg) Hedge funds are becoming more bullish on the euro. Not only are they betting that the currency’s rally will continue, but they think it will rise to levels last seen in earlyRead More →
Reuters. Gold fever spurs dollar in a bizarre display unseen since Erdogan took office (Bloomberg) – It took weeks of frenzied gold trading in Istanbul’s historic commercial center to prompt one of the largest gaps between the cost of physical dollar bills and the official exchange rate in 18Read More →
© Reuters. One-Third of U.S. Restaurants Face Permanent Closure This Year (Bloomberg) — A new forecast projects that one in three U.S. restaurants may close permanently this year, showing how the Covid-19 pandemic is decimating an industry that employs millions of Americans. As many as 231,000 of the nation’sRead More →
Dollar Is Losing Its Luster as Investors Line Up to Go Short (Bloomberg) — After rocketing higher in March as the ultimate haven currency, the dollar is now headed for its worst month since the beginning of 2018, and many strategists see the sell-off continuing. Negative real rates inRead More →
© Reuters. Nothing Is Spared in Selloff as Stock Downtick Index Hits Record (Bloomberg) — At the depths of Thursday’s stock rout, a second-by-second measure of investor selling registered its most extreme reading ever. The number of stocks falling on the New York Stock Exchange exceeded those rising by 2,058Read More →
Bloomberg has forecast bitcoin to reach its record high of $20,000, and possibly $28,000, this year. According to the company’s June Crypto Outlook report, “something has to really go wrong for bitcoin not to appreciate in value.” Bloomberg points to quantitative easing and the coronavirus pandemic as the fuel behindRead More →
© Reuters. U.S. Democratic presidential candidate Bloomberg appears at campaign event in Memphis By Kenneth Li and Greg Roumeliotis (Reuters) – Gary Ginsberg, the global head of communications for SoftBank Group Corp (T:), has taken an indefinite leave of absence to advise Michael Bloomberg’s U.S. presidential campaign, people familiar withRead More →
© Reuters. Treasuries Lead Global Bond Rally With Rate-Cut Bets Mounting (Bloomberg) — Treasuries gained for a sixth day, leading a bond rally from Australia to Japan as investors increasingly bet on central banks easing to cope with the global impact of the coronavirus outbreak. Yields on Treasuries sank fourRead More →
(Bloomberg) — Home Depot Inc (NYSE:). rebounded from a string of disappointing results with a fourth quarter that topped analysts’ projections as the U.S. housing market heated up. The shares gained in early trading. Earnings per share of $2.28 topped the average prediction of $2.11. The company forecast comparable salesRead More →
Former New York mayor Mike Bloomberg vowed Friday to release female former employees from nondisclosure agreements, days after Sen. Elizabeth Warren of Massachusetts hammered him on hush agreements at the Democratic presidential debate in Las Vegas. The billionaire said in a statement that his namesake company had identified three NDAsRead More →
(Bloomberg) — Federal Reserve officials viewed their current monetary policy as appropriate “for a time” while they remained on guard against domestic and global risks that could slow the longest U.S. expansion on record. “Participants discussed how maintaining the current policy stance for a time could be helpful in supportingRead More →
© Reuters. Apple Warning Boosts Trade in Chip-Heavy Fund to Two-Year High (Bloomberg) — Apple Inc (NASDAQ:).’s sales warning sent chipmakers tumbling on while spurring a surge in turnover for the industry’s exchange-traded funds. More than 54,000 shares worth about $14 million of the iShares PHLX Semiconductor ETF, or SOXX,Read More →
© Reuters. U.S. Stocks Hit by Renewed Coronavirus Jitters: Markets Wrap (Bloomberg) — U.S. equities declined on Thursday alongside European stocks as officials in China deployed a revised methodology to diagnose the coronavirus, sending the number of confirmed cases soaring. The Index opened lower, a day after hitting fresh records,Read More →
© Reuters. Foxconn Resumes Some Production at Its Main China IPhone Site (Bloomberg) — Foxconn Technology Group resumed some production Monday at its main iPhone-making site in Zhengzhou, according to local officials, though it was unclear how many workers returned, highlighting the ongoing uncertainties the global tech supply chain facesRead More →
Democratic presidential hopefuls Joe Biden and Michael Bloomberg could be viewed as winners of the Iowa caucuses debacle, analysts said Tuesday, as the state’s party officials promised to release most of the delayed results by 5 p.m. Eastern Time. The results were delayed Monday night by a problematic app andRead More →
(Bloomberg) — The sell-off in stocks accelerated as bonds surged on concern the spread of the coronavirus will slam global economic growth. The erased its 2020 advance as investors remained on edge over the impact of the disease that’s now infected about 10,000 people around the world. Caterpillar Inc (NYSE:).Read More →
© Reuters. Key Davos Debates, Central Banks Start 2020, Oil Unrest: Eco Day (Bloomberg) — Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week: Amid the Alpine peaks of the Swiss resort of Davos, politicians, investors and executives will beRead More →
© Reuters. Boeing’s Max Troubles Begin to Spill Into Broader Economy (Bloomberg) — Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24. Leaders in Wichita, Kansas, suffered a series of gut punches in recent weeks after their biggest employer, Spirit AeroSystems, saidRead More →
© Reuters. Microsoft’s President Says U.S.-China Divisions Risk Tech ‘Cold War’ (Bloomberg) — Microsoft Corp (NASDAQ:). gets just 1.8% of its global sales from China, even though the country accounts for about 18% of the world’s population, Microsoft President and Chief Legal Officer Brad Smith said, noting that tensions betweenRead More →
© Reuters. FX Manipulator No More, Spiraling Debt, Hong Kong Hope: Eco Day (Bloomberg) — Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started: President Donald Trump’s administration plans to lift its designation of China as a currency manipulator, removingRead More →
© Reuters. Tech Sector Leads Stocks Higher; Bonds Decline: Markets Wrap (Bloomberg) — U.S. equities rose, led by shares of technology companies, in a week expected to be dominated by the start of earnings season and the signing of a partial China trade deal. Apple (NASDAQ:), Tesla (NASDAQ:) and MicrosoftRead More →
© Reuters. Stocks Push Higher; Yuan Strengthens: Markets Wrap (Bloomberg) — Asian stocks rose Monday, fueled by optimism on China’s economy and prospects of a signed U.S. trade deal. The yuan strengthened. Shares rose in Seoul and Hong Kong, reversed losses in Shanghai and slipped in Sydney. Japanese markets wereRead More →
© Reuters. Treasury Bulls’ Swagger Undiminished as Focus Shifts to Growth (Bloomberg) — Bond investors may get a chance next week to contemplate the soft spots in the U.S. economy rather than a geopolitical precipice. Either way, Treasury bulls have little to fear. For now, haven buying of government debtRead More →
(Bloomberg) — U.S. stock positioning is near extreme levels as investors price in improving worldwide economic growth, according to Deutsche Bank AG (DE:). “Equity positioning, like the market itself, has run far ahead of current growth asinvestors price in a global growth rebound,” strategists Parag Thatte, Srineel Jalagani and BinkyRead More →
(Bloomberg) — U.S. stocks fell from near records, while Treasuries rose after the latest jobs report delivered mixed signals on the strength of the economy. The dollar declined versus major currencies. The S&P 500 edged lower after hiring data fell short of estimates and wage growth was the weakest inRead More →
