We have the markets on the move. We also have some pmi figures. Euro area january services pmi rising to 58. That was a little more than the preliminary 57. 6. Eurodollar, 1. 2462. Europe seems to be powering ahead. Stoxx europe 600, down some 3. 8 . We saw that big selloff in asia. It is all about Global Market angst because of rising inflation. Today is the day that jay powell takes over from janet yellen. It will be interesting to see what he makes of some of this. Yield, 2. 31. Year we have an allstar guest lineup for you today. Mark wilson of of eva, the largest insurer, joins us shortly. We also have to yield, 2. 31. Look at the future of advertising. We also talk about the French Economy with maurice levy of trackis, and we will treasuries and the selloff with john normand. Lets get to the bloomberg first word news. Nejra in america, janet yellen has said u. S. Stocks and commercial real estate prices are elevated. She made the comments to cbs sunday morning tv show in an interv
Bitcoin Rebounds Strongly After Hitting Lowest Since Early March
Bloomberg 2 hrs ago Joanna Ossinger
(Bloomberg) Bitcoin rallied back Monday as investors took advantage of the lowest levels in seven weeks to pile back in.
The largest cryptocurrency headed for its biggest gain since Feb. 8 at around $52,700 as of 9:35 a.m. in London. At one point it rose as much as 10.4%.
The digital asset had been mired in a two-week slump after reaching a record on April 14, buoyed by enthusiasm from the Coinbase Global Inc. listing. Technical warnings from Wall Street, coupled with the collapse of two crypto exchanges in Turkey at the end of last week, had depressed sentiment amid fears over a growing bubble.
Bitcoin rebounds strongly after hitting lowest since March bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The Reflation Euphoria Has a Dark Side for Emerging Markets
Bloomberg 2/19/2021 Joanna Ossinger and Lilian Karunungan
(Bloomberg) Rising Treasury yields risk pulling the rug out from under the rally in emerging markets, denting one of the street’s favorite trades of the year.
The prospect of a strong economic rebound and hefty U.S. stimulus has strategists at Goldman Sachs Group Inc. and money-managers at Amundi lending their voices to the bull case in the developing world. But the rout in Treasuries that these forces have unleashed should keep investors on their guard, according to JPMorgan Chase & Co.
“If a particular allocation across the risky markets spectrum should be low confidence this year, it is the EM overweight,” JPMorgan’s John Normand wrote in a note to clients on Wednesday.