Stocks Eye Steady Open; Dollar Gains: Markets Wrap swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
Powell Goes Easy on Surging Yields While Central Bank Peers Fret
Bloomberg 2/24/2021 Enda Curran, Matthew Boesler and John Ainger
(Bloomberg) The unprecedented $9 trillion rescue mission by central banks to haul the world economy from its coronavirus recession is being tested as rising bond yields and inflation bets threaten their ability to keep borrowing costs down.
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While Federal Reserve Chairman Jerome Powell this week called the recent run-up in bond yields “a statement of confidence” in the economic outlook, other counterparts are sounding less sanguine as their recoveries lag that of the U.S..
European Central Bank President Christine Lagarde said Monday that she and colleagues are “closely monitoring” government debt yields. The Bank of Korea warned it’ll intervene in the market if borrowing costs jump, Australia’s central bank has been forced to resume buying bonds to enforce its yield target and the Reserve Bank of New
Central Banks Are Already Facing Up to Threat of Rising Yields 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.
The Straits Times
Bitcoin rose to a record US$57,553, on Feb 20, 2021.PHOTO: EPA-EFE
PublishedFeb 21, 2021, 3:06 pm SGT
https://str.sg/JHEG
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Doubling of crypto index this year puts stocks, commodities in the shade.
By Eric Lam, Bloomberg
20 Feb 2021 11:05
Image: Bloomberg
Bitcoinâs market value reached $1 trillion for the first time, a surge thatâs helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
The largest digital-asset has added more than $450 billion of value in 2021 to more than $1 trillion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled.
Speculators, corporate treasurers and institutional investors are thought to have stoked Bitcoinâs volatile ascent. Crypto believers are duelling with skeptics for the dominant narrative around the climb: the former see an asset being embraced for its ability to hedge risks such as inflation, while the latter sense a precarious mania riding atop waves of monetary and fiscal stimulus.