Traders are now pricing-in an 83% chance of a U.S. rate cut by March, according to the CME FedWatch tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.
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U.S. Cases Fell 61% Last Month; WHO Issues Warning: Virus Update Bloomberg 3/1/2021
(Bloomberg)
A new Covid variant detected in New York is being watched “very, very closely” by U.S. health officials, Anthony Fauci said. Johnson & Johnson is looking for manufacturing partnerships to increase supply of its vaccine, which was cleared Saturday by U.S. regulators.
The European Commission is set to unveil a proposal this month for a digital vaccine passport, which could ease a return to normality for those who are immunized. But critics say it may be discriminatory and infringe on privacy.
U.K. Prime Minister Boris Johnson moved to reassure the public over the emergence of a Brazilian variant. Italy will tighten curbs in some cities, Oslo will close restaurants and shops, and Finland has triggered a state of emergency. France needs another four to six weeks before the government can start lifting curbs, President Emmanuel Macron signaled.