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China Wants a Made-in-China Copper Price

(Bloomberg Opinion) — China’s next move to open up its commodities markets may be a step change.As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore in Dalian established a global benchmark. Copper could outshine these efforts, thanks to fortuitous timing, global appetite for an economic bellwether and the sheer clout of the world’s largest consumer.The ambition is clear. Beijing wants increased pricing power …read more […]

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Asian Stocks Set to Track U.S. Gains; Yen Dips: Markets Wrap

(Bloomberg) — Asian stocks looked poised to gain amid positive sentiment on trade in the region and after a national U.S. lockdown was ruled out. The yen dipped.Asia Pacific nations including China, Japan and South Korea on Sunday signed the world’s largest regional free-trade agreement. Meanwhile, advisers to President-elect Joe Biden said they opposed a nationwide U.S. lockdown despite the pandemic accelerating, favoring targeted local measures instead.On Friday, both the S&P 500 and the Russell 2000 Index of small caps rallied to all-time highs. The tech-heavy Nasdaq 100 underperformed amid the rotation to economically sensitive industries. Ten-year Treasury yields ended …read more […]

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Biden Virus Advisers Say a National Lockdown Isn’t on Agenda

(Bloomberg) — Two of President-elect Joe Biden’s coronavirus advisers said they favor targeted local measures to stem the pandemic and oppose a nationwide U.S. lockdown as too blunt.Vivek Murthy, a former U.S. surgeon general who’s one of Biden’s top three advisers on the virus, said that based on what the nation has learned about Covid-19 since the spring, the preferred approach to fighting it is “a dial that we turn up and down, depending on severity.”“If we just lock down the entire country without targeting our efforts, then we are going to exacerbate the ‘pandemic fatigue’ people are feeling, you’re …read more […]

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The Week Ahead In Biotech: The Vaccine Updates, Drug Presentations, And FDA Decisions That Will Move The Markets

Biotech stocks advanced in the week ended Nov. 13 amid a vaccine news flow-induced rally that also lifted the broader market.The week started with positive tidings from Pfizer Inc. (NYSE: PFE) and its German partner BioNTech SE – ADR (NASDAQ: BNTX), which reported positive interim Phase 3 data for their jointly developed mRNA vaccine against the COVID-19 coronavirus.An update from rival vaccine developer Moderna Inc (NASDAQ: MRNA) on reaching the mandated number of cases for its first interim analysis also generated optimism.Five Prime Therapeutics Inc (NASDAQ: FPRX) rallied over 300% during the week, with the upside primarily due to …read more […]