NEW YORK, Jan 21 Global equity benchmarks rose to new record highs and oil prices rose yesterday as investors moved into riskier assets in anticipation of further US stimulus under the new Biden administration to mend the economic damage of the coronavirus pandemic. US President Joe Biden, who.
Read more about Equities hit record highs; oil, dollar edges higher as Biden takes office on Business Standard. U.S. Treasury Secretary nominee Janet Yellen urged lawmakers to "act big" to save the economy and worry about debt later at a confirmation hearing Tuesday
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By Anna Hirtenstein and Alexander Osipovich U.S. stocks climbed as Janet Yellen endorsed higher coronavirus relief spending and some of the country s biggest banks beat expectations for fourth-quarter earnings. The Dow Jones Industrial Average rose 116 points, or 0.4%, as of the 4 p.m. close of trading Tuesday in New York. The S&P 500 advanced 0.8%, while the technology-heavy Nasdaq Composite jumped 1.5%. The gains came as U.S. markets reopened after a long holiday weekend, marking an upbeat start to the week, after all three major indexes posted declines last week. Ms. Yellen backed major fiscal stimulus to help workers and businesses battered by the coronavirus pandemic as she testified before the Senate Finance Committee, which will vote on her nomination for Treasury secretary. In prepared remarks, she said the U.S. risks a longer, more painful recession unless Congress approves more aid, and encouraged lawmak
LONDON (Reuters): China's US$16 trillion bond market is the proverbial elephant in the investment room. But it's becoming too big to ignore, even for the most risk-averse Western investors.
20 Jan 2021 / 09:01 H.
By Dhara Ranasinghe and Saikat Chatterjee
LONDON, Jan 20 (Reuters) - China s $16 trillion sovereign debt market is the proverbial elephant in the investment room. But it s becoming too big to ignore, even for the most risk-averse Western investors.
A large, A+ rated market that pays 3% yields, with minimal volatility? It s looking increasingly alluring for European pension funds swimming in sub-zero bond yields as aging populations stretch their finances.
For some, the benefits are beginning to outweigh the political risks, and they are upping allocations to China, or considering doing so, according to Reuters interviews with half a dozen firms that advise and manage money for pension funds.