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Bloomberg Goldman Sachs Group Inc. cut its year-end Treasury yield forecast as the prospect of a divided Congress under a Democratic president makes another big fiscal stimulus package unlikely. The 10-year yield should fall to around 0.75% by the end of 2020, according to strategists including Praveen Korapaty. That’s well below the 1.05% target that the team had anticipated before …
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November, 2020
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9 November
Deutsche Bank didn’t heed ECB request to pause leveraged finance
Bloomberg Deutsche Bank AG didn’t heed a recommendation from the European Central Bank (ECB) to suspend parts of its leveraged finance operations after the regulator identified shortcomings in how it manages risk in that business, a person familiar with the matter said. Deutsche Bank took remedial action within the given time frame but didn’t follow the ECB’s request to halt …
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9 November
HSBC’s Canada unit weighs sale of covered bonds in euros
Bloomberg HSBC Holdings Plc’s unit in Canada is considering its first euro-denominated covered bond as it expands a market pioneered in the 18th century that 300 years later has the distinction of surviving an economic meltdown relatively unscathed. The lender is weighing up Europe, the largest market for covered bonds, for a deal as soon as next year, according to …
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9 November
SocGen to cut 640 jobs in France
Bloomberg Societe Generale SA (SocGen) plans to cut 640 jobs in France, mainly at its investment-banking operations, as part of a broader cost savings plan. Part of the reduction relates to SocGen’s decision to stop trading in some of its risker structured products, the bank said in a statement on Monday. The securities business as well as compliance and risk …
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9 November
Stocks rise to record high on Biden presidency optimism
Bloomberg Global equities rallied to a record high amid optimism about the outlook under a Joe Biden presidency. The dollar extended declines. Last week’s embrace of risk continued on Monday after Biden was declared the winner of the US election over the weekend. S&P 500 futures rise about 1.5%, building on the strongest week since April for the benchmark, as …
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9 November
India’s sensex closes at record high as US poll uncertainty ends
Bloomberg India’s benchmark equity index is on course for a record close after Democrat Joe Biden was declared the winner in the US election, ending uncertainty of a prolonged process in deciding a victor. The benchmark S&P BSE Sensex index climbed 1.5% to 42,512.19 as of 10:12 am in Mumbai, set to finish higher than the previous record in January. …
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9 November
China’s commodities imports fall in October
Bloomberg China’s purchases of key commodities fall in October from the prior month, mainly because of seasonal factors including an extended holiday at the start of the month in the world’s biggest buyer of raw materials. While the nation’s broader imports couldn’t hold September’s heady pace, slumping to below-consensus growth of 4.7%, “a second straight monthly expansion suggests a continuous …
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9 November
Ryse Energy moves to Masdar City to expand into new markets
Abu Dhabi / WAM Ryse Energy, a global leader in renewable off-grid energy systems, with over 4,000 installations across all seven continents, moved to Masdar City, Abu Dhabi, to expand into new markets. Discussing Ryse Energy’s UAE growth plans, Alistair Munro, founder and CEO, said, “Ryse Energy is a global leader in renewable off-grid energy systems, and as a primary …
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9 November
IPS to bring global real estate community together
Dubai / WAM Dubai Land Department (DLD) announced that the first virtual edition of the International Property Show (IPS) in partnership with Invest in Dubai Real Estate (IIDRE) is set to welcome a diverse international audience and bring the global real estate community together, through the IIDRE programme, from November 11-20. As one of the highlights of the 10-day virtual …
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8 November
Singapore Airlines reports biggest-ever quarterly loss
Bloomberg Singapore Airlines Ltd posted its biggest ever quarterly loss as the coronavirus decimated travel demand and fuel hedging and fleet impairment charges weighed on its bottom line. The carrier reported a net loss of S$2.3 billion ($1.7 billion) for the three months ended on September 30 versus a S$94.5 million profit the same period a year ago, before Covid-19 …
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