July, 2021

• 4 July

  China to keep dragging down Asian junk bond markets

  

  Bloomberg The recent divergence between Asia’s investment-grade and riskier bonds is poised to continue, analysts say, as investors turn sour on Chinese developers. Yields for Asia’s high-yield dollar bonds rose 41 basis points in the second quarter, according to a Bloomberg Barclays index, versus a 5 basis-point decline for investment-grade debt. They’ve increased for six straight weeks, the longest stretch ...

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• 4 July

  Thailand needs Sinovac to meet vaccine goal

  Bloomberg Thailand won’t be able to meet its monthly vaccination target of 10 million doses as deliveries from AstraZeneca Plc, the backbone of its inoculation program, will be 40% to 50% fewer than expected because some supplies are allotted for export. AstraZeneca will deliver 5 million to 6 million doses per month for use in Thailand starting in July because ...

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• 4 July

  China’s EV, solar stocks have more room to run, say funds

  

  Bloomberg Some of the world’s biggest money managers say the strong rally in China’s renewable energy stocks has more legs, citing the sector’s rosy earnings prospects and policy support. BlackRock Inc, Aberdeen Standard Investments Ltd and UBS Global Wealth Management are among those backing investments in Chinese electric vehicle-related companies and solar firms. Their endorsement comes as the world’s largest ...

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• 4 July

  Europe’s diplomats to China stress on human rights, respect

  

  Bloomberg Leading European diplomats in Beijing stressed their commitment to human rights and appealed to China for mutual respect and understanding following a defiant speech from Foreign Minister Wang Yi. References to human rights are “foundational matters” and not a geopolitical game, Caroline Wilson, the UK’s ambassador to China, said on a panel discussion on Sunday. China’s attitude is not ...

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• 4 July

  Biden takes ‘return to normal’ message to swing state Michigan

  

  Bloomberg President Joe Biden traveled to Michigan to underscore US progress in fighting Covid-19, part of a slate of Fourth of July weekend events by the administration to signal a return to pre-pandemic life. Biden picked a battleground state where he beat Donald Trump by 3 percentage points in the 2020 presidential election and where Democratic Governor Gretchen Whitmer has ...

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• 4 July

  Irish protocol risks harming Northern Ireland: Donaldson

  

  Bloomberg The agreement on the Irish border struck as part of the UK’s exit from the European Union risks damaging Northern Ireland’s economy and should be withdrawn, Jeffrey Donaldson said in his first television interview since becoming head of the Democratic Unionist Party last month. Under the terms of the Brexit accord, Northern Ireland — unlike the rest of the ...

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• 4 July

  India’s opposition demands probe into Modi’s Rafale deal

  

  Bloomberg Prime Minister Narendra Modi’s political opponents stepped up their demands for a probe into India’s purchase of Rafale combat jets after France reportedly launched a judicial investigation into allegations of corruption in the deal. The Indian National Congress party on Sunday called for an investigation into the allegations, including changes in the terms of the contract for the 2016 ...

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• 4 July

  Hong Kong’s security force warns against mourning police attacker

  

  Bloomberg Hong Kong’s national security police took over the investigation into the stabbing of a policeman and cautioned citizens from mourning the attacker’s death, calling the incident a domestic terrorist attack on the 24th anniversary of the former British colony’s return to Chinese rule. The National Security Department, which investigates offenses that endanger national security, is now probing the July ...

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• 4 July

  US jobs increase by most in ten months as economy gains steam

  

  Bloomberg The pace of US hiring accelerated in June, with payrolls increasing by the most in 10 months, suggesting firms are having greater success recruiting workers to keep pace with the economy’s reopening. Nonfarm payrolls jumped by 850,000 last month, bolstered by strong job gains in leisure and hospitality, a Labor Department report showed. The unemployment rate edged up to ...

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• 4 July

  Deutsche Telekom starts $5.3bn sale of its Dutch unit

  

  Bloomberg Deutsche Telekom AG has kicked off the sale of its T-Mobile Netherlands BV subsidiary, which could be valued at around 4.5 billion euros ($5.3 billion), according to people familiar with the matter. The telecommunications operator is working with Morgan Stanley and has sent out information on the business to potential bidders. It has asked for first-round offers to be ...

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