Erdogan s call for rate cut compounds lira s rapid 3-day slide | Business and Economy News
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Lira Bears Awaken as Erdogan Renews Calls for Turkish Rate Cut
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(Feb 15): Stocks in Asia looked set to begin the week on the front foot amid signs that the pace of coronavirus outbreaks in the U.S. continues to slow.
The kiwi dipped after New Zealand locked down Auckland while it investigates three new Covid-19 cases. U.S. markets are shut for Presidents’ Day, while exchanges in China, Hong Kong and Taiwan are also shut on Monday. Bitcoin approached US$50,000.
The reflation trade remains alive and well global equities ended Friday at a record high, with the MSCI world index up about 6% this year, while the Treasury yield curve tested the steepest levels in more than five years. While investors bank on U.S. government spending and the coronavirus vaccine rollout to boost the economic recovery, new variants are threatening to temper the outlook.
Global Stocks Gain, Oil Climbs Amid U.S. Cold Snap: Markets Wrap
Bloomberg 2/15/2021 Andreea Papuc and Adam Haigh
(Bloomberg) Global stocks and U.S. equity futures rallied as investors took comfort in progress on the Covid-19 vaccine rollout, while freezing temperatures in Texas and across the American South roiled energy markets. The dollar weakened, and U.S. and Canadian stock markets were closed for national holidays.
The FTSE 100 Index finished up 2.5% and the pound strengthened after the U.K. recorded 15 million vaccinations against coronavirus. Japan’s Nikkei 225 Stock Average topped 30,000 yen for the first time since August 1990 on data showing the economy is charging ahead.