Jun.08 — Vanda Insights Founder & CEO Vandana Hari believes crude had already priced in the outcome by OPEC+ and its allies to extend production cuts. She was speaking with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — Car sales in China rose for the first time in almost a year last month, evidence that the world’s largest auto market is rebounding from the coronavirus crisis and the trade war with the U.S.Retail sales of cars, SUVs and multiple-purpose vehicles increased 1.9% from a year earlier to 1.64 million units in May, the China Passenger Car Association said Monday. That’s the first gain since June 2019.The government added stimulus measures such as tax rebates to attract consumers back to showrooms, while automakers that shuttered operations amid the coronavirus outbreak now offer generous discounts. The pandemic exacerbated …read more […]
Jun.08 — Allie Renison, head of EU & trade policy at The Institute of Directors, discusses the fourth round of talks between British and European Union negotiators and their future relationship. She speaks on “Bloomberg Markets: European Open.” …read more […]
Jun.08 — The U.K. is pressing ahead with a two-week quarantine on international arrivals, a move British Airways and other carriers say will devastate tourism. Bloomberg’s Siddharth Philip reports on “Bloomberg Markets: European Open.” …read more […]
Jun.08 — Peter Kinsella, global head of FX strategy at Union Bancaire Privee Ubp SA, discusses the state of play in equities, the rally in risk assets and his outlook for the U.S. dollar. He speaks on “Bloomberg Markets: European Open.” …read more […]
Jun.08 — Alex Booth, head of market analysis at Kpler SAS, discusses the outlook for oil supply and demand after after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged. Booth speaks on “Bloomberg Markets: European Open.” …read more […]
Jun.08 — New Zealand will remove social distancing requirements after reporting zero active cases of Covid-19, indicating it has achieved its aim of eliminating the virus. Prime Minister Jacinda Ardern said Monday at a briefing that all remaining restrictions on people and businesses, other than strict border controls to keep the virus out, will be lifted at midnight tonight, paving the way for a resumption of normal life. …read more […]
Barely three months ago, Serge Dumas had one problem: how to keep up with record demand for the metal fasteners and bolts his small aerospace supply firm manufactures just north of Toulouse. Now, the head of Gillis Aerospace is wondering how to keep his 45 employees busy as Europe’s aerospace capital reels from plummeting jetliner demand caused by the coronavirus crisis. Gillis Aerospace, with annual revenues of 5 million euros, is one of thousands of small to medium-sized firms hurt by the crisis as the French government and private lenders finalise a 1-billion-euro fund to help the …read more […]
Jun.08 — Yamini Aiyar, president of think tank Centre for Policy Research, examines Indian Prime Minister Narendra Modi’s response to the coronavirus outbreak. India has been under a stringent nationwide lockdown since late March, even though some restrictions were eased beginning April 20 to allow select industries to resume operations. The government will begin a phased lifting of the curbs from June 8. Aiyar spaeks on “Bloomberg Markets: Asia.” …read more […]
Jun.07 — Luya You, transportation analyst at Bocom International, discusses the prospects for Chinese airlines. China will ease a ban on flights to the country by foreign airlines on June 8. You speaks with Haslinda Amin and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price system aimed at easing an acute fuel shortage. Maduro on May 30 announced the new system in which motorists could purchase up to 120 liters (31.7 gallons) of gasoline at a heavily subsidized price of 5,000 bolivares (2.5 U.S. cents) per liter, and 50 U.S. cents per liter thereafter. While Venezuelans with resources can now wait in shorter lines at the stations tapped to charge higher prices, those …read more […]
(Bloomberg) — China’s currency has moved away from testing its 2008 low versus the dollar, but that’s not stopped the yuan from weakening against its peers.The yuan has fallen for a record 16 straight days against a basket of trading partners’ currencies — the longest run since the basket was created in 2015 — and is close to erasing its gain versus those exchange rates this year, according to data compiled by Bloomberg. The yuan slumped more than 4% versus the euro and Australian dollar over that period, while it has strengthened about 0.2% versus the greenback.The dollar has tumbled …read more […]
Brent crude had climbed as high as $43.41 a barrel but by 0239 GMT was trading up just 21 cents, or 0.5%, at $42.51. U.S. West Texas Intermediate (WTI) crude rose 2 cents, or 0.05%, to $39.57 a barrel, after earlier touching $40.44 earlier. Since the start of April Brent has nearly doubled, propped up by the unprecedented production cut of 9.7 million barrels per day – nearly 10% of global supplies – agreed in April by the Organization of the Petroleum Exporting Countries (OPEC), Russia and other allies, collectively known as OPEC+. …read more […]
Demonstrations sparked by the killing of George Floyd continued over the weekend around the U.S. New York’s mayor ended the city’s curfew earlier, as protesters pledged to carry on. Photo: Jacquelyn Martin/AP …read more […]
(Bloomberg) — There’s so much positive momentum in risk assets, it’s difficult to see what could stand in the way of the emerging-market rally, at least in the coming days.The stronger-than-forecast May U.S. jobs report and weekend agreement by OPEC+ to a one-month extension of its record output cuts may add to the optimism about the prospects for a global economic recovery, underpinning risk assets. JPMorgan Chase & Co.’s measure of implied volatility for emerging-market currencies had its biggest weekly drop since 2011. Stocks enjoyed their best week since 2011, while an index of domestic bonds reached its highest point …read more […]
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