Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. …
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Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P …
Read More »Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,†the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can …
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Bloomberg Most Asian stocks fall on Wednesday as the dollar held around a one-year high, bolstered by robust US economic data that highlighted the case for tighter monetary policy and pushed up Treasury yields. MSCI Inc’s Asia-Pacific stock index snapped a four-day climb, with Japan lower amid slower export gains. US and European futures fluctuated. The S&P 500 extended a …
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Bloomberg The post-pandemic retail trading frenzy has drawn a lot of credit for driving stock prices to a series of record highs. Yet overlooked is the return of an even bigger force in the equity market: corporate America. From Apple Inc to Bed Bath & Beyond Inc, US companies have announced plans to buy $1.06 trillion of their own shares …
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Bloomberg Asian stocks were steady Tuesday and the yuan climbed as traders weighed the outcome of the first face-to-face virtual summit between US President Joe Biden and Chinese leader Xi Jinping. Treasury yields dipped. MSCI Inc’s Asia-Pacific share gauge posted a modest advance, while US and European equity futures fluctuated after the S&P 500 and Nasdaq 100 ended flat. Hong …
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Bloomberg Singapore’s state-owned investor Temasek Holdings Pte sold shares of US-listed Chinese technology companies from Alibaba Group Holding Ltd and Didi Global Inc to online education providers amid regulatory crackdowns. Temasek cut 16% of its stake in e-commerce giant Alibaba and 11% of its shares in ride-hailing service Didi, according to a 13F filing for the three months ended September …
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Bloomberg Asian stocks were mixed on Monday amid data showing steadier economic growth in China as well as ongoing challenges in the nation’s troubled property sector. Treasuries were steady and the dollar slipped. Shares fluctuated in Hong Kong and dipped in China, where traders weighed stronger-than-expected retail sales and industrial output, central bank liquidity support and a drop in home …
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Bloomberg Stay away from US stocks and bonds next year, and seek out better returns in Europe and Japan. That’s the advice of Morgan Stanley’s strategy team, which sees fading monetary support and high valuations holding back American assets in 2022, even as growth improves and inflation moderates. Fundamentals are more attractive in Europe and Japan, where central bankers will …
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Bloomberg For years, Chinese leaders have been fighting an uphill battle to drive funding for small business. They are counting on Beijing’s first-ever stock exchange to get the job done. The Beijing Stock Exchange, which launches on Monday, is intended as a platform to house small and medium-sized companies that have long faced difficulty raising capital because they aren’t large …
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