Karsten Junius June 30, 2021 09:27
Global health care equities troughed in April after a tough year. The drop started in 2020 as seen in the sharp correction in relative price-to-earnings ratios, from a 16% premium in March 2020 to a 10% discount in just five months. The sector is now trading on par with market PEs, but still one full standard deviation below the relative 10-year average. In the past decade, it had only once traded below these levels, in late 2016, when US 10-year yields rose by around 100bps and equity markets rallied after Trump was elected. Back then, the weight was heavy on long-duration equity sectors, such as health care, similar to the past 12 months, with nominal yields rising and defensives underperforming.
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LONDON (Reuters) - Elon Musk says Tesla won’t use or accept bitcoin until he can be sure it’s produced sustainably. He may be waiting some time.
FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike Blake/File Photo
Musk announced his new position in a major U-turn on Wednesday, prompting speculation among some experts about whether he had a plan to wean the crypto industry off the fossil fuels that power “mining,” the energy-intensive process that creates coins.
Elon Musk wants a greener bitcoin Has he got a plan or a pipedream? yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.