June, 2021

• 1 June

  Bond managers balk at Riksbank plan to reform credit market

  

  Bloomberg A proposal by the Swedish central bank intended to address liquidity shortages in the country’s corporate bond market has been met with disbelief by a number of asset managers. The Riksbank last week repeated its call to improve the market’s functioning but added a new demand: revise the regulatory framework so corporate bond funds “cannot offer daily redemptions,” according …

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• 1 June

  Stocks, futures surge on positive data; oil jumps

  

  Bloomberg Stocks rise with US equity futures, and commodities including oil jumped, as a string of positive economic readings spurred optimism in the recovery from the pandemic. The Stoxx Europe 600 Index gained 1%, led higher by cyclical shares, as data showed that euro-area factories are struggling to keep up with surging demand and joblessness in Germany fell. Reports signaling …

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• 1 June

  Singapore bonds beat global peers as curbs fan haven demand

  

  Bloomberg Singapore government bonds beat their biggest developed-market peers in May as a flare-up in virus infections in the city state fostered demand for haven assets. The securities gained 1.1% last month, a performance which trails only that of South African, Mexican and Indonesian bonds among 30 of the world’s largest debt markets, according to data compiled by Bloomberg. Fifteen- …

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• 1 June

  Crude exceeds $67 as demand outweighs Opec+ output plan

  

  Bloomberg Oil advanced ahead of an Opec+ policy meeting as traders expect rising demand to absorb a planned production increase from the group as well as any additional crude from Iran. Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. Opec and its allies are expected to stick with a …

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• 1 June

  Quorn-maker’s IPO drives top funds ditching ‘stocks’

  

  Bloomberg Food giant Monde Nissin Corp’s record-breaking entry into the Philippine stock market is driving a shakeup that’s impacting everything from the nation’s consumer sector to holdings of some of the biggest money managers. Investors say the $1 billion initial share offering — the biggest ever debut in the Southeast Asian country — is pushing them to reallocate funds from …

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• 1 June

  Lufthansa gets permits to fly to Moscow, St Petersburg

  

  Bloomberg Deutsche Lufthansa AG said it continues to have permission to operate several weekly flights to Moscow and St Petersburg, after at least two European airlines scrapped routes when Russian aviation authorities withheld authorisation for changes to avoid flying over Belarus. The German carrier operates seven weekly connections to Moscow and four to St Petersburg, according to a spokeswoman. Air …

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• 1 June

  Qantas offers unlimited lights in biggest vaccine incentive

  

  Bloomberg Qantas Airways Ltd is offering unlimited flights for a year among a pool of prizes for people who’ve had Covid-19 shots, the biggest incentive yet from an Australian business in a bid to accelerate the country’s sluggish vaccination rollout. Giving details about the program on Monday, Chief Executive Officer Alan Joyce said 10 “mega prizes” would give families of …

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• 1 June

  US cities to power revival in domestic travel: TripAdvisor

  Bloomberg The US will have a busy vacation season this summer as cities make a strong comeback, according to Stephen Kaufer, chief executive officer of TripAdvisor Inc. “Now we have a lot more activities all around the country, and it’s not just outdoors. The cities are making a very real comeback,” Kaufer said on CBS’s “Face the Nation”. Hotel searches …

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• 1 June

  Retailers look for back-to-school season boost in US 

  

  Bloomberg The back-to-school season has always been important for US retailers, and this year’s is likely to be a doozy. Consumer wallets fat with stimulus checks helped Walmart Inc and Target Corp blow past sales estimates in the first quarter, but those funds will dry up at some point. Stepping into the fold, analysts expect an unprecedented shopping season as …

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• 1 June

  Ulta Beauty shares rise in first-quarter

  Bloomberg Ulta Beauty Inc reported first-quarter comparable sales that beat expectations, showing that makeup usage is making a recovery. Comparable sales, a key metric for retailers, rose 66% for the quarter — above the 39% average analyst estimate compiled by Bloomberg. The beauty retailer raised its outlook for 2021, with net sales now seen in a range of $7.7 billion …

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