BLOOMBERG Global equities rallied and the pound strengthened the most since 2008 on signs the campaign for the U.K. to stay in the European Union was gaining momentum. The yen declined with U.S. Treasuries and gold as haven demand eased. The Stoxx Europe 600 Index headed for its biggest gain since August and emerging-market shares advanced for a second …
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EU exit alarms propel gold investors to near record rally wagers
Bloomberg The turbulence sweeping global markets has reignited investors’ passion for gold. Global central bankers have sounded the alarm that a British exit from the European Union could be disruptive to the global economy. Anxiety about the June 23 vote contributed to more than $1 trillion of value being wiped from global equities last week as bullion futures reached …
Read More »Brexit no Lehman to Europe strategists keeping stock calls
Bloomberg British secession from the European Union is a market scenario that the region’s equity strategists are choosing not to factor into their forecasts — or at least, one they are expecting to have no catastrophic meaning for stocks. Even as global markets teetered last week and polls showed more U.K. voters leaning toward leaving the trading bloc, securities …
Read More »Kenya mulls introducing world’s first tea futures contracts
Bloomberg Kenya, the world’s biggest exporter of black tea, is considering introducing the world’s first futures contracts for the leaves to help stabilize prices and enable growers to guarantee income from their production. INTL FCStone Inc., based in New York, has held talks with industry representatives in the East African nation about introducing the derivatives, Stuart Ponder, senior vice …
Read More »Cows to feast on French wheat as rains threaten crop quality
Bloomberg European cows may soon be feasting on more French wheat as downpours threaten to reduce the quality of the grain used to make bread. The deluge that recently hit crops in the European Union’s biggest producer has the potential to reduce the grain quality, adding to global supplies of wheat used to feed animals, said Peter McMeekin, an …
Read More »Stocks slide as central banks fail to reassure; yen, gold climb
BLOOMBERG Stocks slid with commodities after central banks in the U.S and Japan signaled increased concern about the global economic outlook. Gold and bonds rose on haven demand, while the yen climbed to the highest since 2014. The Stoxx Europe 600 Index fell to a four-month low and U.S. crude headed for its longest losing streak since February. Bond …
Read More »Gold pinned to Brexit angst as traders see $1,350 if ‘Leave’ wins
Bloomberg Polls show Britons will vote next week to exit the European Union, and that has gold traders betting the precious metal will be a lot more valuable. Prices will rally to the highest in two years if the so-called Brexit campaign succeeds on June 23, reaching $1,350 an ounce within a week of the vote — about 3 …
Read More »Canada’s biggest solar-bond sale shines a green light on future
Bloomberg A bond to fund Canada’s largest solar-power project, located on aboriginal land in Ontario, is proving a magic combination for investors who are scooping up the new green debt. The C$613 million ($475 million) of notes maturing in 2035 with a 3.926 percent coupon to finance the Grand Renewable Solar Project represent Canada’s largest solar-bond sale, according to …
Read More »Stocks rebound with emerging mkts before Fed; pound advances
BLOOMBERG Stocks advanced as markets took a respite from the steepest selloff in global equities since January before the Federal Reserve’s policy decision. The British pound rebounded from a two-month low, while Spanish and Italian bonds gained for the first time this week. The Stoxx Europe 600 Index climbed from the lowest since February and emerging markets rose for …
Read More »The hottest commodity in China is feeding the world’s livestock
Bloomberg Nobody told China’s soybean meal traders that the commodity frenzy is over. While trading in everything from steel to cotton futures collapsed following steps by the country’s regulators to deflate a speculative bubble in April, the volume of soymeal contracts has continued to expand. The amount of the animal feedstock changing hands in a single day on the …
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