UK to launch four regional trade hubs in bid to aid Covid recovery March 23, 2021 The government is creating four regional trade and investment hubs to lift economic growth across the UK. International Trade Secretary Liz Truss said on Tuesday that the hubs would be in Belfast, Cardiff, Darlington and Edinburgh. The government said they will provide support to help regional businesses to access major trade markets and boost exports. [...]
Before the Bell: Europe set for positive start as China data points to choppy recovery March 15, 2021 While US markets by and large have managed to retain their resilience, with new record highs for the Dow, S&P500 and Russell 2000 last week, the gains have been notably in sectors left behind by the huge tech rally that has help support most of the move higher in US equities over the last few [...]
Farmers union slams free pass for EU imports as UK food exports face red-tape and higher costs March 12, 2021 Farmers union pleads for level playing field on EU imports as food exports face financial barriers
Branston pickle, Cadbury flake and crumpets among top five UK exports expats craved during pandemic March 11, 2021 Demand for UK food from exporter British Corner Shop surges in US amid revenue rise by 150 per cent
UK-Kenya trade deal ratified overnight despite ongoing legal challenge March 11, 2021 In a surprise twist, Kenyan MPs ratified late on Tuesday evening the Kenya-UK trade agreement, paving the way for a duty-free trade economic framework between the UK and the East African country. The outcome of the vote was only made public yesterday. Adan Haji, chairman of the Kenyan parliament’s trade committee, reputedly managed to persuade [...]
Before the Bell: After US stimulus boosts global sentiment, traders look to ECB today March 11, 2021 The muted mood in government bond yields played a role in the rally enjoyed by stocks yesterday. In the past few weeks, rising yields acted as a catalyst to declines in stocks, while on the other hand, when yields have held steady or slipped, that has typically triggered the buying of stocks. “Yesterday was like [...]
Greensill’s downfall: Ripples of panic as flaw in shadow banking spin led to firm’s tragic end March 10, 2021 It has been a week from hell for Greensill Capital. Just a year after Australian financier Lex Greensill sought a $7bn valuation, his boutique bank filed for administration this week as his lawyers appeared before a UK court on Monday. What is likely to turn into the tragic end to what once was a City [...]
Before the Bell: Hyperactive price action across numerous asset classes March 10, 2021 Markets continued with their skittish tail-chasing price action overnight, with the Nasdaq leading the charge higher, starkly reversing course after a few tough days at the office. The US Dollar duly fell in militaristic-like lockstep, and even gold found some friends as it rallied strongly. The sharp reversal of the previous sessions can be laid [...]
Higher yields not necessarily bad news for stocks, argues City-based investment veteran March 9, 2021 The spike in yields of late has sent shivers through stock markets, which recently reached an all-time high and whose valuations have been labelled as ‘stretched’ by more than one analyst. But this rise in yields, if contained, is not necessarily bad news for stocks. In fact, it suggests that the rotation into reflation-driven cyclical [...]
Before the Bell: Who does not love a $120bn auction? March 9, 2021 Starting today, tomorrow and Thursday, the US Treasury will hold a total of $120bn auctions of government bonds in the 3-year, 10-year, and 30-year tenors. All eyes will be on the bid-to-cover ratios after a recent 7-year auction saw that ratio slump. If markets’ appetite for US government debt at these levels disappoints, Jeffrey Halley, [...]