August, 2021

• 24 August

  Citi shorts Treasuries but adds on bet against yuan

  

  Bloomberg Citigroup Global Markets says Treasury yields are set to rise, and there’s a way to screen out one of the main risk factors that may push them lower by betting against the yuan. The US brokerage recommends its clients position for higher US rates and also use options to wager against any strength in China’s currency. The rationale is …

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• 23 August

  Lloyds to buy 50,000 UK homes

  Bloomberg Lloyds Banking Group Plc could buy 50,000 UK homes in the next decade as it looks to become a major player in the country’s rental market. An internal job advertisement seen by the Financial Times for the bank’s newly launched Citra Living unit details ambitions for Lloyds to purchase 10,000 houses by the end of 2025 and 50,000 by …

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• 23 August

  Banker bonuses tied to ESG metrics on rise in Europe

  

  Bloomberg European bankers will soon have to show they’re contributing to a cleaner environment, a better society and good governance — or face a smaller pay package. In the latest sign that ESG is reshaping finance, most of the 20 major European banks surveyed by Bloomberg said they were either working on, or already had, a model that links staff …

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• 23 August

  European stocks, futures climb; dollar declines with Treasuries

  

  Bloomberg Stocks in Europe rise on Monday along with US futures as traders took advantage of last week’s selloff while keeping a wary eye on risks from the delta virus strain and China’s regulatory crackdown. Bonds declined. The Stoxx Europe 600 index climbed for a second day, though the gauge pared gains after purchasing managers surveys from the region’s biggest …

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• 23 August

  China tech shares stage rebound after five-week selloff

  

  Bloomberg Chinese technology stocks rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months. The Hang Seng Tech Index climbed as much as 4.5%, the biggest jump since July, following a near 11% slump last week. The gauge had dropped for five straight weeks in its biggest such losing streak …

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• 23 August

  A milestone for Aussie stocks hangs in balance

  Bloomberg A milestone for Australian stocks hangs in the balance as investors weigh better-than-expected corporate earnings results against a resurgence in Covid-19 concerns. Of the 78 companies that have reported full-year results this month, 65% have met or exceeded earnings estimates, according to data compiled by Bloomberg. That’s three percentage points higher than for the same period last year. The …

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• 23 August

  Thailand passes $93bn budget as outlook dims

  

  Bloomberg Thailand’s parliament approved the nation’s annual budget that seeks to ramp up spending on tackling the Covid-19 outbreak while slashing outlays for defense and education with the government revenue coming under pressure from a worsening growth outlook. The 3.1 trillion baht ($93 billion) spending plan for the fiscal year starting October 1 received the backing of 257 lawmakers. A …

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• 23 August

  Amazon’s $267b summer wipeout tests Wall Street

  

  Bloomberg It’s rare to see just about everyone on Wall Street agree on something, but that’s the case when it comes to Amazon.com. Every single analyst who rates the stock — all 55 of them — recommends clients buy it, according to Bloomberg data. Active fund managers “are even more overweight” the name now than they were a year ago, …

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• 23 August

  Avelo targets East Coast with New Haven-Florida flights

  

  Bloomberg Avelo Airlines is expanding to the East Coast with service connecting four Florida cities with New Haven, Connecticut, in a bid to entice customers tired of trekking to airports in New York and Boston. Flights to Orlando begin on November 3, followed within days by service to Fort Lauderdale, Tampa and Fort Myers, Avelo said. The startup plans to …

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• 23 August

  Global airlines owed billions as governments withhold cash

  

  Bloomberg Airlines are owed almost $1 billion across 20 countries as governments seek to hang on to hard currency, depriving the industry of vital cash at a time when travel has been devastated by the coronavirus crisis. Figures published by the International Air Transport Association (IATA) show that Venezuela is withholding a further $4 billion that’s been outstanding for years …

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