Written by Gary
US Treasury yields follow stocks higher amid hopes of EU fiscal stimulus package (SPY +1.0%).
Here is the current market situation from CNN Money | |
European markets are sharply higher today with shares in France leading the region. The CAC 40 is up 1.50% while London’s FTSE 100 is up 1.40% and Germany’s DAX is up 1.21%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
China Shares New Evidence Blaming ‘European Strain’ For Beijing Outbreak, Germany Sees Concerning Spike In COVID-19 Cases: Live UpdatesChina Shares New Evidence Blaming ‘European Strain’ For Beijing Outbreak, Germany Sees Concerning Spike In COVID-19 Cases: Live Updates Tyler Durden Fri, 06/19/2020 – 08:43 We imagine China’s European trading partners were less-than-pleased earlier this week when the Chinese state-controlled press blamed a cluster of cases tied to southwestern Beijing’s Xinfadi wholesale market on imported European salmon. Hence why, amid the flood of other COVID-19 related headlines, Chinese health officials quickly gave Norwegian salmon imports the “all-clear”, before doing a complete 180 on the whole salmon narrative. | |
A Long List Of Worries…A Long List Of Worries… Tyler Durden Fri, 06/19/2020 – 08:38 Authored by Bill Blain via MorningPorridge.com, œOf course you didn’t wake me, the phone was ringing anyway ¦ It’s been a busy and confusing morning. Working from home apparently means no limits on when clients think it’s a good time to call. No complaints ” it’s nice to hear all about the weather in Asia, but œI knew you’d be home  call at 4.30 am didn’t impress She-Who-Was-A-Sleeping-Mrs-Blain. Then my coalescing thoughts were then further interrupted by the arrival of manna from heaven in the shape of the Ocado Man! As always I’ve been trying to sum up the current outlook and give some market insights in a couple of paragraphs. The left analytical side of my brain wants to list everything with clear strategies on addressing the looming crisis. The right-hand creative side ” well, it just wants to sum-up the outlook as œdangerous,” and get on with marketing a new property deal we’re working on as something far more interesting ¦. It makes sense: it’s a real deal, based on real assets, producing real returns in an asset class likely to appreciate. Its everything financial … | |
As China Lags “Phase One” Pledges By 87%, It Plans To “Step Up” ImportsAs China Lags “Phase One” Pledges By 87%, It Plans To “Step Up” Imports Tyler Durden Fri, 06/19/2020 – 08:20 As part of the Phase One trade deal announced in January, and just weeks before the coronavirus pandemic crippled global trade, China had pledged to buy $36.5 billion worth of American agriculture products, up from $24 billion in 2017, prior to the trade war. Instead, China has so far purchased only $4.65 billion in the first four months of the year, data from the U.S. Department of Agriculture show. That’s only 13% of the goal set in the trade deal and almost 40% below the same period in 2017. | |
Wirecard Carnage Continues: CEO Quits As Search For Missing Billions ContinuesWirecard Carnage Continues: CEO Quits As Search For Missing Billions Continues Tyler Durden Fri, 06/19/2020 – 08:11 Update (8:15ET): Wirecard confirms it’s in “constructive discussions” with its lending banks with regard to credit lines and business relationships, according to Bloomberg. Bloomberg data shows at least 18 commercial banks are involved in Wirecard’s existing revolving credit facilities worth about $2.8 billion. Wirecard has warned if Ernst & Young (EY) doesn’t sign off on its 2019 accounts by Friday – loans up to $2.24 billion could be terminated. The payments company is skating on thin ice into the weekend as liquidity issues emerge.   * * * Wirecard shares continued to plunge on Friday morning, falling at least 43% as the saga over the missing $2.1 billion from its accounts worried investors over the company’s future, reported Reuters. Germany’s once high-flying payments firm could be forced to repay $2.24 billion in bank loans, if its auditor, Ernst & Young (EY), does not sign off Friday on its 2019 accounts due to the billions of dollars missing. Heading into the weekend – it’s likely EY will not sign of … | |
Ecommerce firms in India could be soon asked to pick a sideEcommerce firms in India could be soon asked to pick a sideMay be asked to display whether a product being sold on their platform is made in India or not. | |
India’s neighbours silent as tensions simmerIndia’s neighbours silent as tensions simmerNarendra Modi has long built an image of a strongman, taking bold stands when faced with difficult neighbors. | |
He chased debts at 12. Now, he chases $20 bnHe chased debts at 12. Now, he chases $20 bnChalla Setty is one of three MDs of SBI, one rung below the top job at the biggest lender. | |
Rail Week Ending 13 June 2020 – Slight Improvement But Remains Deep In ContractionWritten by Steven Hansen Week 24 of 2020 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. Total rail traffic has been mostly in contraction for over one year – and now is taking a hit from coronavirus. The carloads intuitive sector’s rolling average again marginally improved this week but remains historically low. Intermodal has a serious contraction due to the logistic headwinds of the coronavirus but again improved this week. | |
FA Center: You support peaceful protestors. But would they approve of your investments?More people now want their financial advisers to help them support social and political causes. | |
FA Center: Money advice for men this Father’s Day: Copy how the women in your life investMen and women have different styles of investing ” and they can learn from each other. | |
Bond Report: Treasury yields follow stocks higher amid hopes of EU fiscal stimulus packageU.S. Treasury yields follow their stock-market counterparts higher amid hopes that the European Union was inching forward to a fiscal stimulus package that could limit the economic devastation from the COVID-19 pandemic. |
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