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Taiwan Sounds Currency Warning as Chip Demand Fuels Exports
Bloomberg 2/22/2021 Bloomberg News
(Bloomberg) Taiwan more than doubled its forecast for export growth this year, but sounded a warning that the global scramble for computer chips is going to add further upward pressure on the local dollar. Stocks and the currency gained.
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Exports will likely rise 9.58% this year, compared with a previous estimate of 4.59%, the statistics bureau said Saturday. Gross domestic product may expand 4.64%, more than previously expected and up from a revised 3.11% in 2020, when it was one of the few significant economies to register growth.
“Our trade surplus was $58.8 billion last year,” said statistics chief Chu Tzer-ming. “We expect it to be $63.9 billion this year. This might lead to pressure on the Taiwan dollar to appreciate. Everyone should watch out for this.”
Taiwan Sounds Currency Warning as Chip Demand Fuels Exports msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Pandemic-Stoked Bond Sales Set New Bar for Emerging Markets
Bloomberg 12/30/2020 Sydney Maki
(Bloomberg) Emerging-market hard-currency bond sales are heading for another big year in 2021 as governments and companies try to revive growth, though it will probably fall short of this year’s pandemic-stoked record.
Governments will borrow heavily for a second year to fund health-care and poverty relief measures, while pushing the investment needed to reflate their economies. Companies will borrow to cash in on that renewed growth, with loose monetary policy providing the liquidity they need.
“Our forecast assumes that financing conditions continue to be supportive for both investment grade and high yield,” Goldman Sachs strategists including Kamakshya Trivedi, Caesar Maasry, Danny Suwanapruti and Sara Grut wrote earlier this month. But, “funding needs come down as the cyclical recovery takes hold.”