November, 2020

• 23 November

  Investors look past chaos, throw $53 billion at stocks

  

  Bloomberg Traders might have surmised that rising coronavirus cases and turmoil atop the government would breed at least the beginnings of caution among investors. Not so much. In what is shaping up as a historic month for equities, exchange-traded funds focussed on US stocks were just hit with one of the biggest deluges of cash ever recorded, attracting nearly $53 …

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• 23 November

  Bitcoin revival unleashes $300,000 forecast by next year

  

  Bloomberg Bitcoin mania is back and with it, the return of sky-high predictions from celebrity crypto fund managers to Wall Street stalwarts of where it can go next. The world’s largest digital currency is in the midst of an exuberant rally that this week saw it cross above $18,800 for the first time in almost three years. Strategists and crypto …

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• 22 November

  UK, Canada reach trade deal in Brexit boost for Johnson

  

  Bloomberg The UK agreed with Canada to maintain the trading conditions it has through its European Union membership and to begin talks on a broader deal that would pave the way for even closer links with Britain’s 12th-biggest trading partner. The two countries will begin negotiations next year to expand their commercial agreements to cover digital trade, the environment and …

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• 22 November

  Oil rises for third straight week on Covid-19 vaccine optimism

  

  Bloomberg Oil rose to the highest in nearly three months with positive Covid-19 vaccine developments paving the way for a more sustained recovery in oil demand. Futures rose 5% in New York this week for a third straight weekly gain as Pfizer Inc and BioNTech SE requested emergency authorisation of their Covid vaccine. Moderna Inc also released positive interim results …

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• 21 November

  National Bank of Hungary pushes asset-purchase plans

  

  Bloomberg Hungary’s central bank is about to take its $2.5 billion asset-purchase program to the next level as it prepares to buy the bonds of a company owned by one of its entities. The debt sale under the central bank’s plan, flagged in a corporate filing, may further blur what’s become a hazy boundary on what central banks around the …

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• 21 November

  Thailand moves to cool baht rally

  

  Bloomberg Thailand relaxed rules on capital outflows and will increase scrutiny of fund flows into bonds to help cool a currency rally that threatens its economic recovery from the pandemic. The Bank of Thailand (BOT) moved forward measures that were supposed to begin early next year, most of which will now take effect from end-November. The rules will make it …

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• 21 November

  Nomura plans flexible work ‘permanently’

  

  Bloomberg Nomura Holdings Inc plans to introduce flexible work on a permanent basis for its overseas staff, the latest global financial firm to consider such a move as the pandemic reshapes office life. While the planning is at an early stage, Nomura sees both an “appetite and ability to support an operating model in which 50% of our corporate workforce …

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• 21 November

  Bank Indonesia slashes its policy rate to record low

  

  Bloomberg Indonesia’s central bank cut its policy rate for the first time in four months, urging banks to lend more to help drive an economic recovery. Bank Indonesia cut its seven-day reverse repurchase rate by 25 basis points to 3.75%, the lowest since the benchmark was introduced in 2016, as predicted by 11 of 26 economists surveyed by Bloomberg. “I …

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• 21 November

  PBOC set to look through credit pain as it tapers stimulus

  

  Bloomberg China’s central bank remains on course to taper its emergency support even as a string of defaults by government-linked companies sends tremors through the credit markets. Officials have been preparing investors about the possibility of withdrawing some of that stimulus as the economic recovery picks up pace. While a surge in market interest rates following the defaults appears to …

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• 21 November

  Absa South Africa rules out dividends

  Bloomberg Absa Group Ltd said it’s unlikely to pay an ordinary dividend this year as the South African bank conserves cash to deal with the economic fallout from the coronavirus pandemic. Earnings before one-time items and accounting adjustments will probably decline more than 40% from a year earlier, Johannesburg-based Absa said. It’s withholding payouts despite having strong buffers and forecasting …

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