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A Relative Strength Rating upgrade for Canada Goose shows improving technical performance. Will it continue?
(Bloomberg) -- The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc.There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including Kenneth H
(Bloomberg) -- Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and
Pent-up demand, pandemic savings, back-to-office mandates -- experts say it will all add up to a historic wave of people leaving their jobs.
The head of Japan's financial watchdog said he was disappointed by the global fallout from the collapse of investment fund Archegos Capital Management despite past regulatory reforms. "Although the problem didn't result in the collapse of financial system, it's very disappointing such a major incident happened," Ryozo Himino, Financial Services Agency (FSA) Commissioner, said in an online speech. Global banks including Credit Suisse and Nomura Holdings Inc reported losses from Archegos, taking the total hit beyond $10 billion.
GBP/USD settled below the 20 EMA and is trying to settle below the support at 1.4100.
(Bloomberg) -- Gold slipped to the lowest in almost a month as a U.S. bond rally lost steam ahead of this week’s Federal Reserve meeting, which may give clues on future monetary policy.Bullion retreated as Treasury yields ticked higher, making the non-interest bearing metal seem less attractive. Last week, gold struggled to make significant gains past $1,900 an ounce, which may have resulted in pressure from technical traders, said ABN Amro Bank NV strategist Georgette Boele. Monday’s drop also
(Bloomberg) -- The European Union is testing investors’ appetite to fund nearly $1 trillion of debt over five years as it seeks to finance its recovery from the coronavirus pandemic.The bloc opened books on debut 10-year bonds as part of its NextGenerationEU (NGEU) program, which will finance grants and loans to member states. European Central Bank President Christine Lagarde said in an interview published Monday the NGEU stimulus will “transform the future of Europe.”The bonds are being offered
Bitcoin option's smile shows persistent fears of deeper drop and low expectations for a quick rally.
The president's speech follows El Salvador's adoption of bitcoin as legal tender.
(Bloomberg) -- Shares of companies controlled by billionaire Gautam Adani recouped a part of their day’s losses after refuting a local report that said accounts of three Mauritius-based funds that own the group’s stocks were frozen.The Economic Times reported Monday that National Securities Depository Ltd. froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. It said the action was probably due to insufficient disclosure of information regarding beneficial ownership
With President Biden about to unleash a potential trillion-dollar spending spree on green infrastructure, ESG investors could see opportunities in the years to come
(Bloomberg) -- Hedge funds are bullish on the Australian dollar, and two key events this week may vindicate their convictions.Australian jobs data and a speech by central bank Governor Philip Lowe could provide the trigger for the Aussie to rise above 78 U.S. cents before it encounters resistance at 80 cents. Leveraged funds hold a net long position of 20,509 contracts in the currency in the week ended June 8, according to data from the Commodity Futures Trading Commission.The Aussie has been la
LONDON/SINGAPORE (Reuters) -Bitcoin climbed to shy of $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it. Bitcoin has gyrated to Musk's views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," Musk said on Twitter on Sunday.
Mortgage rates fall back ahead of this week’s FED policy decision in spite of inflation fears. Weaker NFP numbers may have eased pressure on the FED to make any immediate moves…
(Reuters) -The S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve's meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting.
The Fed’s two-day policy meeting will likely dominate investor behavior this week. Its forecasts could move the markets.
The rally in the U.S. Dollar could be temporary but as long as the dollar remains strong, gold is going to have a hard time mounting a rally.
Stock futures traded sideways Monday morning in a muted start to the week, as traders awaited a key monetary policy decision from the Federal Reserve.
(Bloomberg) -- Washington Prime Group Inc., a real estate investment trust that operates enclosed malls and strip centers across the U.S., filed for bankruptcy after the Covid-19 pandemic drove away shoppers.The Chapter 11 filing in Houston lets Washington Prime stay in business while it restructures its debts in a deal that it reached with certain creditors, according to the bankruptcy. The company, with assets estimated at $4 billion and debt of almost $3.5 billion, secured a bankruptcy loan o
"Musk's latest tweet will put the juice to the upside," a market observer said.