Tuesday, 11 Aug 2020

Economy

Fed bank branch president says US recovery may be levelling off: FT

BENGALURU (REUTERS) – Atlanta Federal Reserve Bank president Raphael Bostic said the US economic recovery is in danger of stalling due to the recent spike in coronavirus cases across many American states. High-frequency data had shown a “levelling off” of economic activity both in terms of business openings and mobility, he told the Financial Times […]

EMERGING MARKETS-Stocks extend rally to over four-month highs, currencies muted

* MSCI EM stocks index at highest level since late-Feb * Russian stocks among top gainers for the day * Turkish lira under pressure from higher inflation By Ambar Warrick July 6 (Reuters) – Emerging-market stocks reached their highest in more than four months on Monday, extending gains into a fifth session as strong economic […]

MORNING BID-Bulls-bear continue tug of war

(A look at the day ahead from EMEA deputy markets editor Sujata Rao. The views expressed are her own.) LONDON, July 6 – Citi analysts sum up the situation on markets with their comment that bullish and bearish forces might cancel each other out, leaving global equities more or less at current levels in 12 […]

RPT-Convertible bond issues surge in coronavirus-hit market

(Repeats Friday story without changes) * Companies issue most convertible bonds since 2007 * Hedge funds make up smaller proportion of convertibles market * Market could grow by $80-100 billion this year By Elizabeth Howcroft and Abhinav Ramnarayan LONDON, July 3 (Reuters) – The volume of convertible bond sales has reached its highest levels since […]

Generation Z bearing economic brunt of coronavirus

SYDNEY (BLOOMBERG) – Already scarred by the global financial crisis a decade ago, a generation of younger people is bearing the economic brunt of the coronavirus. Even billions of dollars in global fiscal stimulus is struggling to cushion the blow as the pandemic worsens generational inequality. Take Australia as an example. Despite a A$260 billion […]

EMERGING MARKETS-Oil-linked Latam currencies outperform for week

* Colombian, Mexican pesos lead weekly gains * Chilean stocks outperform for the week * Argentine assets sole losers for the week (Updates prices, adds comments) By Ambar Warrick and Shreyashi Sanyal July 3 (Reuters) – Latin American stocks and currencies remained muted on Friday as a U.S. holiday provided few trading cues, but were […]

Britain and India's Bharti win auction for OneWeb satellite company

LONDON, July 3 (Reuters) – Britain has joined forces with India’s Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging $1 billion between them to develop a fleet of low earth orbit satellites to boost broadband and other services. Under the deal announced on Friday, Britain will invest $500 million […]

Chaos in gold markets ripples to other precious metals

NEW YORK (BLOOMBERG) – The chaos that engulfed the gold market in March as the global pandemic choked off physical trading routes is rippling through other precious metals, resulting in price dislocations and a surge in exchange inventories for silver and platinum. The gold market was thrown into turmoil in March as lockdowns grounded planes […]

Australia retail sales see record surge in May as economy reopens

SYDNEY (REUTERS)- Australian retail sales saw a record surge in May, official data showed on Friday (July 3), as a wide scale easing in coronavirus lockdowns allowed entire sectors to reopen, enabling a recovery from an historic plunge in April. The strong bounce suggests consumer spending will not be nearly as weak as first feared […]

AVI-SPL's US$370m loan finalized with steepest discount in four years

NEW YORK, July 2 (LPC) – AVI-SPL needed two tries and the steepest discount in four years to syndicate a US$370m leveraged loan to an investor base concerned about the health of an audiovisual company reliant on businesses shut out of buildings amid the coronavirus. A group of arrangers led by Bank of America was […]