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May 6, 2021

Debt / Fixed Income Markets

Egypt projects 7.1% increase in debt financing needs in 2021/22

Reuters
FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) – Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the......

Turkish cenbank holds rates at 19%, drops tightening pledge

Reuters
By Ali Kucukgocmen, Jonathan Spicer ISTANBUL (Reuters) -Turkey’s central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and set off a market selloff. FILE PHOTO:......

BlackRock quarterly profit beats estimates as assets rise over $9 trln

Reuters
FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo (Reuters) -BlackRock Inc, the world’s largest asset manager, reported first-quarter profit ahead of Wall Street estimates as strong capital markets helped attract more money to its diverse funds. The......

English diners rush back to restaurants as lockdown eases

Reuters
FILE PHOTO: People enjoy the evening at an outside restaurant area in Soho, as the coronavirus disease (COVID-19) restrictions ease, in London, Britain April 12, 2021. REUTERS/Henry Nicholls LONDON (Reuters) – British diners rushed back to restaurants on Monday, the first day that they had been open in England for......

BOJ’s Kuroda warns of lingering COVID pain on economy

Reuters
FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda speaks at a news conference in Tokyo, Japan, January 21, 2020. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Japan’s economy was picking up but any recovery was likely to be modest due to lingering caution over the coronavirus pandemic, Bank of Japan Governor Haruhiko......

EU Commission to end AstraZeneca and J&J vaccine contracts at expiry – paper

Reuters
MILAN (Reuters) – The EU Commission has decided not to renew COVID-19 vaccine contracts next year with AstraZeneca and Johnson & Johnson (J&J), Italian daily La Stampa reported on Wednesday, citing a source from the Italian health ministry. “The European Commission, in agreement with the leaders of many (EU) countries,......

Italy prepares new 40 bln euros economic stimulus package – source

Reuters
ROME, April 12 (Reuters) – Italy’s government is preparing a new stimulus package worth around 40 billion euros ($47.60 billion) to support its coronavirus-battered economy, a source close to the matter said on Monday. The extra borrowing will probably push this year’s budget deficit above 10% of gross domestic product......

Business sentiment improves as firms look past pandemic, Bank of Canada says

Reuters
OTTAWA (Reuters) – Business sentiment in Canada continues to improve and many firms consider the impacts of the COVID-19 pandemic behind them, though the outlook remains challenging for high-contact services, a Bank of Canada survey showed on Monday. FILE PHOTO: A sign is pictured outside the Bank of Canada building......

Qatar National Bank’s Q1 net profit falls 7% as provisions climb

Reuters
DUBAI, April 11 (Reuters) – Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell by 7% from a year earlier to 3.3 billion riyals ($906 million) as it booked 1.4 billion riyals in “precautionary” loan loss provisions. The bank’s......

Italy’s economy seen growing 4.1% this year, business lobby says

Reuters
ROME (Reuters) – Italy’s virus-hit economy is expected to grow 4.1% this year and 4.2% in 2022 in an “uncertain ascent from the abyss”, the country’s business lobby Confindustria said on Saturday. FILE PHOTO: People walk past closed bars and restaurants as Rome becomes a ‘red zone’, going into lockdown,......

EDF chief executive says restructuring talks “not at all bogged down”

Reuters
PARIS, April 10 (Reuters) – Negotiations over the restructuring of French state-run utility EDF are not stuck and near daily discussions between Paris and the European Commission continue, chief executive Jean-Bernard Levy said on Saturday. “(The negotiations) are not at all bogged down,” Levy told France Inter radio. The restructuring......

NY Fed may make technical adjustment due to asset purchases, official says

Reuters
FILE PHOTO: The cornerstone for the Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri (Reuters) – The Federal Reserve’s ongoing asset purchases are lifting bank reserves to new highs and contributing to a new......

Breakingviews – Path out of global tax combat is slowly emerging

Reuters
WhatsApp and Facebook messenger icons are seen on an iPhone in Manchester , Britain March 27, 2017. LONDON (Reuters Breakingviews) – A long slog to make international corporate tax rules fit for the digital age is nearing a breakthrough. Obstacles remain, but a path that gets around them is slowly......

Global money market funds obtain highest inflows in 14 weeks – Lipper

Reuters
(Reuters) – Investments into money market funds surged to the highest this year in the week ended March 31, as investors favoured safety amid a fall in bond prices and fresh lockdowns in Europe, with the region grappling to contain a rising number of coronavirus infections. FILE PHOTO: Rolled Euro......

Argentine leader Alberto Fernandez says tests positive for coronavirus

Reuters
Argentina’s President Alberto Fernandez attends the National Flag Day event at the Museum of the National Flag in Iguala, Guerrero State, Mexico February 24, 2021. REUTERS/Henry Romero BUENOS AIRES (Reuters) – Argentine President Alberto Fernandez has tested positive for the new coronavirus, is waiting for the result to be confirmed......

Take Five: Spring in the step

Reuters
1/ SPRING MEETINGS FILE PHOTO: International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo Financial policymakers from around the globe are preparing to convene — virtually of course — for the springtime......

Euro zone inflation bounce masks weak trend: Lane

Reuters
FRANKFURT (Reuters) – The surge in euro zone inflation is driven by transient factors but underlying trends remain weak, so the European Central Bank needs to maintain copious support for the economy, ECB chief economist Philip Lane said on Thursday. FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks......

Big tech lifts equities as Biden rebuilding plan in focus

Reuters
By Herbert Lash, Tom Arnold NEW YORK/LONDON (Reuters) – The dollar hit a one-year high versus the yen and technology stocks led Wall Street and a key gauge of global equities higher on Wednesday, ahead of an announcement by President Joe Biden of a multitrillion-dollar plan to rebuild America’s infrastructure.......

Saudi Aramco private investment plan voluntary, not state imposed, says CEO

Reuters
LONDON, March 31 (Reuters) – Saudi Aramco said on Wednesday the government had no plans to impose private partnerships on the oil giant, after it launched a programme to support private investment in the kingdom as part of Saudi Arabia’s diversification push. “This is a voluntary programme. It’s on the......

Asian stocks poised for first monthly loss since Oct on bond rout

Reuters
SYDNEY (Reuters) – Asian stocks were on track for their first monthly loss since last October though markets were up on Wednesday and the U.S. dollar stood tall as investors focused on growing signs of a sure-footed global economic recovery. FILE PHOTO: Pedestrians wearing facial masks, following the coronavirus disease......

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