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NATHAN’S FAMOUS SIGNS DEAL WITH GHOST KITCHEN BRANDS TO OPEN 100 NON-TRADITIONAL LOCATIONS BY END OF 2021
Research by Oxford University suggests all major vaccines carry a similar risk of rare clots, and all seem to have much lower risk than infection with COVID-19.
(Bloomberg) -- Emerging-market bulls who’ve benefited from moderating U.S. Treasury yields are bracing for a relapse as political risks pile up.MSCI Inc.’s developing-nation stock gauge extended a three-week winning streak on Friday, while a basket of currencies capped its biggest weekly advance since early February. The risk premium on emerging-market sovereign debt also narrowed to 339 basis points over U.S. Treasuries, its lowest since February 2020, according to data compiled by JPMorgan Chase & Co.Yet the rally is prompting some traders to reassess their bets. Russian shares, which led last week’s equity advance, may come under pressure as the Biden administration evaluates its options to escalate sanctions. South Africa’s rand, the top currency performer in the developing world, is particularly exposed to a potentially stronger dollar, Andres Jaime, a New York-based strategist at Morgan Stanley, wrote in a note. There’s also concern that Treasury yields, which have declined for two straight weeks, will revert back to their trend in the first quarter, when U.S. bonds suffered their worst rout since 1980.Goldman Sachs Group Inc. said it closed its trade recommendation on a basket of developing-nation currencies after the rapid rebound.“Some profit taking on rallies and re-engagement on market wobbles makes sense, even as we keep the faith on cyclical upside over the longer term,” Goldman strategists including Zach Pandl and Kamakshya Trivedi wrote in a note Friday. “The idiosyncratic risks that have weighed on EM FX in 2021 are likely to continue to generate volatility and create opportunities.”Listen: EM Weekly Podcast: Easing U.S. Yields; Russia, Indonesia RatesAside from Russia, political risks are gathering pace in Latin America and Asia. Peruvian stocks dropped to their lowest since January after an admirer of Fidel Castro and Hugo Chavez won the most votes in the first-round of the nation’s presidential election. In China, the credit stress engulfing one of the country’s largest distressed-debt managers is also weighing on shares and bonds.Investors will turn their attention this week to key rate decisions. Indonesia’s central bank may leave borrowing costs unchanged while their Russian counterparts hike. President Vladimir Putin will also make his annual address to the nation on Wednesday, potentially unveiling new measures to boost the economy through spending. He’s facing condemnation from Western officials over the deteriorating health of jailed opposition leader Alexey Navalny as well as the Kremlin’s hack attacks and actions toward Ukraine. The ruble has posted the third-biggest decline in emerging markets this past month.Central BanksIndonesian policy makers are expected to keep their key rate on hold Tuesday as the weakening rupiah deters further easingAt a briefing following the March meeting, Governor Perry Warjiyo said the central bank will guard the currency to keep it in line with its fundamentalsThe rupiah has dropped 3.4% this year, the second-worst decline in emerging AsiaPolicy makers last lowered the seven-day reverse repo rate in February, cutting to a record low of 3.5%“With the rupiah under pressure, BI’s desire to maintain external stability means rate cuts are off the cards,” Krystal Tan, an economist at Australia & New Zealand Banking Group Ltd. in Singapore, wrote in a noteRussia’s central bank may extend its new tightening cycle on FridayBloomberg Intelligence predicts a quarter-point hike, though U.S. sanctions “raise the risk of a bigger move”China’s central bank will announce one- and five-year loan prime rates on TuesdayPolicy makers last cut the benchmarks in April 2020 to support the economy from the pandemicThe yuan tops emerging Asia currency gains this year after the Taiwan dollarTrade DataThe Philippines will release balance-of-payments data for March on Monday after reporting a deficit in FebruaryThe peso has dropped 0.7% this year, beating most peersTaiwan will publish export orders for March on Tuesday and industrial-production data on FridaySouth Korea, a barometer of global commerce, releases trade data on the first 20 days of April on WednesdayThailand will publish customs-trade figures for March on ThursdayThe baht’s 4.0% drop leads emerging Asia losses in 2021What Else to WatchBrazil traders will monitor federal budget negotiations ahead of an April 22 deadline for President Jair Bolsonaro to decide on a vetoOn Monday, a reading of the nation’s February economic activity is expected to show a 10th straight monthly increase while slipping on a year-over-year basis, according to economists surveyed by BloombergThe country’s benchmark stock index extended on Friday its longest winning streak since last NovemberArgentina’s February economic activity may reflect a slide in industrial and construction activity, interrupting the nation’s recovery, according to Bloomberg EconomicsThe peso, which led declines among major currencies last year, is once again trailing all global peers to start 2021Colombian economic activity for February may reflect a recovery while lingering below pre-pandemic levelsThe nation’s benchmark equity gauge has posted the biggest slide in Latin America so far this yearMexico is set to post bi-weekly consumer price figures on Thursday, which may show the uptrend continuing in the first two weeks of April, according to Bloomberg EconomicsFebruary retail sales data on Friday, meantime, are expected to fall from a year earlier, reflecting the pandemic’s lingering impact, Bloomberg Economics saidThe peso has advanced 3.4% over the past month, the biggest gain in emerging markets during that spanSouth Africa will probably report on Tuesday that headline inflation accelerated in March amid higher fuel pricesThe rand has jumped 3.2% this year, beating all major global currenciesMalaysia posts March inflation data on Friday after reporting its first positive reading for the consumer price index in a year in February(Updates market performance throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
MSCI announces its commitment to the goal of net-zero emissions before 2040.
The "Medical Tourism Global Potential 2021: Volume 3 - Turning Medical Tourism Back On" report has been added to ResearchAndMarkets.com's offering.
(Bloomberg) -- U.S. equity futures slipped while European stocks held steady on Monday as investors awaited a fresh round of corporate earnings with global shares sitting at record highs. The dollar slid.S&P 500 Index contracts dropped modestly from a record chalked up last week as earnings season continued, with IBM and United Airlines Holdings Inc. due to report. Shares in the Coca-Cola Company rose in pre-market trading after comparable earnings per share beat analyst estimates. In Europe, the Stoxx Index pared an earlier advance to trade little changed. Chinese stocks outperformed amid easing concerns about the health of state enterprise China Huarong Asset Management Co., a distressed-debt manager. China’s financial regulator on Friday said Huarong had ample liquidity, the first official comments since the company missed a deadline to report earnings. Ebbing fears of contagion drove a rally in Huarong bonds.Robust economic data from China and the U.S. last week helped push the MSCI All-Country World Index to another record despite concerns surrounding the spread of Covid-19 variants. New infections in the past week surpassed 5.2 million, the most since the pandemic began.The risk of another destabilizing increase in borrowing costs has also subsided, as bond yields have pulled back from recent highs. This week traders will look for further confirmation of the private sector’s recovery from the pandemic as the earnings season gathers pace.“Our current view is that with short-term interest rates set to remain low for the medium term and our expectation that earnings will continue to increase, it is unlikely that the increase in long-term interest rates will trigger an equity market fall,” Russel Chesler, head of investments and capital markets at VanEck Australia, said in a note.Elsewhere, Bitcoin pared losses after tumbling the most since February over the weekend.Here are some key events to watch this week:Apple’s first product unveiling of the year on Tuesday.Reserve Bank of Australia releases minutes of its policy meeting on Tuesday.EIA crude oil inventory report on Wednesday.European Central Bank rate decision and President Christine Lagarde briefing on Thursday.U.S. releases manufacturing and services purchasing managers indexes Friday.These are some of the main moves in financial markets:StocksFutures on the S&P 500 Index declined 0.3% as of 6:56 a.m. New York time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index rose 0.3%.The MSCI Emerging Market Index increased 0.2%.CurrenciesThe Bloomberg Dollar Spot Index decreased 0.4%.The euro gained 0.5% to $1.2039.The British pound climbed 0.5% to $1.3907.The onshore yuan strengthened 0.2% to 6.507 per dollar.The Japanese yen strengthened 0.6% to 108.13 per dollar.BondsThe yield on 10-year Treasuries fell one basis point to 1.57%.The yield on two-year Treasuries decreased less than one basis point to 0.16%.Germany’s 10-year yield jumped one basis point to -0.25%.Britain’s 10-year yield declined one basis point to 0.754%.Japan’s 10-year yield dipped one basis point to 0.087%.CommoditiesWest Texas Intermediate crude decreased 0.2% to $63.02 a barrel.Brent crude dipped 0.2% to $66.65 a barrel.Gold strengthened 0.6% to $1,787.22 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The Ingenuity drone completes the first powered, controlled flight by an aircraft on another world.
GATC Health grants an exclusive license for its diabetes platform to GATC DB Care Corp to improve diabetes detection and treatment.
Apr. 19—BOWLING GREEN — The Bowling Green State University men's soccer team took care of business on Sunday to clinch the Mid-American Conference championship. The Falcons entered the final match of the regular season needing a win over Northern Illinois to capture the MAC title. Senior Achille Robin scored on a penalty kick early in overtime to lift the Falcons to a 2-1 win over the Huskies. ...
Apr. 19—"Go West, young man," was the message often credited to newspaper editor Horace Greeley regarding the expansion of America in that direction in the 1800s. The concept it related to was known as "Manifest Destiny." As far as two young Toledo high school basketball players are concerned, a version of that concept applied to them when they ventured more than 1,900 miles to Arizona to ...
Finding top semiconductor stocks to buy involves understanding the health of markets that purchase chips for their products. Chip stocks rose in 2020 as the industry emerged from a downturn.
The best beachfront restaurants on Anna Maria Island, Clearwater Beach, Daytona, Fort Myers, Jacksonville Beach, Melbourne, Miami, Pensacola and more.
This certainly wasn't how Nets envisioned things going when they traded for James Harden in January to play alongside Kevin Durant and Kyrie Irving.
You may have a month when you check your credit card statement only to see that you've racked up a ton of charges. If you see expenses you either don't recognize or you know are fraudulent, you have the right to dispute those credit card charges. If you see an erroneous charge on your credit card, it's best to act quickly because you only have a limited window of time to dispute a credit card charge.
Americans weigh in on whether fighting climate change helps or hurts the economy.
Just over half think that a year of lockdowns and working from home during the pandemic probably helped the environment.
Lippert Components Subsidiary Completes Acquisition of Ranch Hand
U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is celebrating Earth Day on April 22 with the official global launch of USPA Life™, the brand's long-term sustainability program, that includes significant global product initiatives.
Ryan, a leading global tax services and software provider, has recently been named to the 2021 list of Best Workplaces™ for Women in Canada by Great Place to Work®. This is the third consecutive year the Firm has made this prestigious list.
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