A $1 Trillion Cash Hoard Holds Key to the Fate of Risk Assets
By Katherine Greifeld and Liz Capo McCormick U.S. money-fund assets have dropped for three straight weeks Cash on sidelines is potential ‘powder’ for risk assets: Yi (Bloomberg) — The $1 trillion pile of cash that investors amassed amid the pandemic-fueled market turmoil may determine the length of the risk rally. U.S. money-fund assets have started to shrink from […]
Scientists hail dexamethasone as ‘major breakthrough’ in treating coronavirus
Dexamethasone, a cheap and widely used steroid, has become the first drug shown to be able to save lives among Covid-19 patients in what scientists hailed as a “major breakthrough”. Results of trials announced on Tuesday showed dexamethasone, which is used to reduce inflammation in other diseases, reduced death rates by around a third among […]
U.S. May retail sales surge 17.7% in the biggest monthly jump ever
Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again. The 17.7% headline gain including food sales easily topped the record 6.7% from October 2001 — a month after the 9/11 terrorist attacks — and beat the 8% estimate from economists surveyed by Dow Jones.
How did Huawei fall foul of the US government and find itself at the epicentre of a new tech war?
Like many Chinese entrepreneurs, Huawei Technologies’ founder Ren Zhengfei knew he would have to crack the US market before the company could truly become a global operation.
JPMorgan’s Kolanovic Drops Caution on Stocks, Says Buy the Dip
By Lu Wang Firm’s quant guru says U.S.-China relations haven’t worsened Brushed aside concern of shutdown in case of second virus wave (Bloomberg) — Marko Kolanovic, who two weeks ago tempered his bullish stance on stocks because of worsening geopolitical tensions, says now is the time to move back in. A drop such as Thursday’s should […]
U.S. Consumer Sentiment Jumps Most Since 2016 on Gain in Jobs
By Olivia Rockeman (Bloomberg) — U.S. consumer sentiment climbed in early June by the most since 2016 as more states began to reopen their economies and employers restored jobs. The University of Michigan’s preliminary sentiment index increased 6.6 points to 78.9, according to data Friday. The median projection in a Bloomberg survey of economists called for a gain […]
JPMorgan says stocks will climb nearly 50% as investors flee low returns in bonds and cash
Investors are still largely sitting on the sidelines after the market’s epic rebound, but the low returns in bonds and cash have left them with no alternatives but to embrace risk assets again, according to JPMorgan. The firm sees a nearly 50% rise in stocks over the long term due to this shift.
German Economy Set to Shrink 7% Even With Recovery Underway
Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could be close at hand.
May sees biggest jobs increase ever of 2.5 million as economy starts to recover from coronavirus
Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%, according to data Friday from the Labor Department that was far better than economists had been expecting and indicated that an economic turnaround could be close at hand.
China and The Future of the Dollar
In late March, global financial markets were collapsing amid the chaos of the novel coronavirus pandemic. International investors immediately sought refuge in the U.S. dollar, just as they had done during the 2008 financial crisis, and the U.S. Federal Reserve had to make huge sums of dollars available to its global counterparts. Seventy-five years after […]