City A.M. TV: A Market Snapshot May 21, 2021 Despite some giveback earlier this week, price action in markets has been reasonably encouraging for the bulls, especially in the past 48 hours. In particular, a number of major asset prices have tested, held, and rallied from key support levels this week (including the S&P500, the NASDAQ100, and Bitcoin). In the case of Bitcoin, the [...]
UK business activity grew at fastest pace since 1998 in May May 21, 2021 Business activity in the UK expanded at its fastest rate since 1998 in May as the economy raced out of lockdown, new data today showed. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 62.0, up from 60.7 in April. Any score above 50 indicates growth. IHS [...]
Labour steps up pressure on Rishi Sunak over Biden’s global tax plan May 20, 2021 Labour has stepped up its push to get Rishi Sunak to agree to Joe Biden’s plan for a minimum business tax rate among the world’s biggest economies. The party is calling on the government to put together a review of the effects of Biden’s proposal to implement a 21 per cent minimum on global business [...]
Emerging Asia-Pacific capital markets: challenges and opportunities May 18, 2021 | City Talk CFA Institute has published ‘The Emerging Asia Pacific Capital Markets: Challenges and Opportunities’. The report, compiled by Larry Cao and Luis Garcia-Feijóo, presents perspectives from local authors on the financial history, current status and outlook for 11 countries. Their insights should be particularly valuable for prospective investors. Many have argued that the 21st century will [...]
Evening Read: The Great Reopening is well under way May 17, 2021 As Reopening Day is slowly maturing, Monday the 17th of May will most likely go down in pandemic history as a day full of positive post-lockdown news, and very mixed weather. From today, people in England can meet outdoors in groups of up to 30, and indoors in groups of six, or two households, with [...]
City A.M. TV: Market Snapshot May 17, 2021 In today’s video we examine the question of whether or not Bitcoin provides any insight into the global equity market direction.
Rishi Sunak does not back Joe Biden’s global business tax plan May 17, 2021 Rishi Sunak is withholding support for Joe Biden’s draft plan to implement a minimum 21 per cent global business tax rate, with the chancellor wanting more assurances on taxation on US tech giants. Sunak, who is chairing this year’s G7 meetings for finance ministers, has reportedly said he would only support a minimum tax rate [...]
BoE’s Bailey: Inflation pressure will not last May 13, 2021 Bank of England governor Andrew Bailey reckons factors pushing up inflation in the coming months will not persist, but nevertheless the Bank will keep a watchful eye on the situation. “So the really big question is: ‘Is [higher inflation] going to persist or not?’ Bailey said at an event with members of the public organised [...]
US inflation sees biggest leap in nearly 13 years May 12, 2021 Consumer prices in the United States shot up 4.2 per cent in the 12 months to April, which could add fuel to market fears of a lengthy period of higher inflation. The jump marked the biggest increase in consumer prices since June 2009, and the biggest inflation gain since September 2008. The jump also followed a [...]
As economies reopen, inflation fears return with a vengeance May 12, 2021 London’s FTSE 100 is on course for its worst day in three weeks this afternoon amid inflation concerns. Inflation has never really been away. It’s been a central theme that has dominated conversations among economists, analysts and bankers over the past few months, and more specifically, the possibility that it is about to take off. [...]