March, 2021

• 16 March

  Eskom warns of high risk of power cuts as it fixes faulty plants

  

  Bloomberg Eskom Holdings SOC Ltd., which supplies almost all of South Africa’s power, said it’s undertaking long-overdue repairs at its facilities amid a high risk of nationwide outages, and it expects supply to improve later this year. The debt-stricken state utility has implemented electricity rationing — known locally as load-shedding — on 19 days so far this year after record …

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• 15 March

  China’s home prices grow at fastest pace in 6 months

  Bloomberg China’s home prices grew at the fastest pace in six months in February, as a lower supply of projects during a holiday season added to a fear of missing out among buyers. New home prices in 70 major cities, excluding state-subsidised housing, rise 0.36% last month from January, when they gained 0.28%, National Bureau of Statistics figures showed on …

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• 15 March

  Singapore home sales fall by 60%

  Bloomberg Singapore home sales fall in February after speculation about property curbs dampened buyer appetite. Purchases of new private apartments fall 60% to 645 last month, Urban Redevelopment Authority data showed on Monday. That compares with 1,632 in January, which exceeded a two-year high. Singapore’s property market rallied even amid the pandemic, seeing a spike among private apartments, shophouses and …

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• 15 March

  World’s best currency moving higher amid BOC tapering calls

  

  Bloomberg The Canadian dollar is outperforming all of its major peers this year, and several analysts see room for more gains as the economic recovery picks up, bolstering speculation about reduced stimulus. Data showing stronger-than-expected job growth in February provided the impetus for the loonie to climb to a three-year high, even as the US currency rises against the majority …

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• 15 March

  Ex-Commerzbank CEO plans fintech SPAC listing

  

  Bloomberg A SPAC backed by Martin Blessing, Commerzbank AG’s former chief executive officer (CEO), plans to list in Amsterdam and target investments in financial services and technology companies. The special purpose acquisition company, EFIC1, will seek to raise as much as $496 million and seek out companies in Europe, including the UK, according to a statement on Monday, confirming an …

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• 15 March

  Denmark central bank adjusts tool box to help steer currency

  

  Bloomberg Denmark’s central bank adjusted its toolbox to help it steer money market rates and ultimately the krone, which is pegged to the euro. The bank called the changes “technical” in nature, and “not intended to influence the level of the money market rates or the Danish krone,” according to a statement. The goal is to “ensure more stable money …

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• 15 March

  ECB pledges to ramp up buying government debt

  

  Bloomberg The European Central Bank (ECB) pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the region’s economic recovery. Policy makers expect purchases in the next quarter “to be conducted at a significantly higher pace than during the first months of this year,” according to a …

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• 15 March

  BOJ mulling analysis to support scope for rate cut

  

  Bloomberg At next week’s policy review, the Bank of Japan (BOJ) is considering releasing an analysis of the potential impact of lowering its negative interest rate to show its determination to use this option if needed, according to people familiar with the matter. BOJ officials say the assessment would hint at the likely results of a lower negative rate on …

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• 15 March

  RBI loosens grip on yields at public sale

  Bloomberg Rising yields at India’s latest government bond auction are signalling the central bank may be reluctantly accepting higher borrowing costs amid a global rout. The Reserve Bank of India (RBI) sold some of 10-year debt at 6.22%, compared with about 6% in previous auctions. That’s after a spike in US Treasury yields and oil prices pushed borrowing costs higher …

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• 15 March

  Chinese stocks drop as data deepens liquidity concerns

  

  Bloomberg China’s stocks slumped, as a neutral lending stance from the central bank and data showing surging economic activity renewed concerns about tightening liquidity. The CSI 300 Index closed 2.2% lower, after falling nearly 3% in afternoon trading. Stocks had initially pared losses on data showing growth rates of more than 30% for key economic indicators. Traders said sentiment was …

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