(Bloomberg) -- U.S. and European equity futures retreated along with Asian stocks as the accelerating spread of the coronavirus in a number of locations outweighed some signs of economic improvement.Stocks fell more than 1% in Japan, Australia and Hong Kong. They had a more modest drop in China, where markets reopened after a two-day holiday. South Korean shares slumped 2% after the country’s finance minister ruled out another budget for this year. Treasuries were little changed, while the dollar dipped against major peers. Crude oil fell.Investors are bracing for a continuation of last week’s risk-off sentiment as coronavirus cases surpassed 10 million globally and a resurgence in the U.S. continues to batter states likes Texas, Arizona and Florida. That overshadowed data that showed China’s industrial companies saw the first monthly increase in profits since November.“The recovery is going to be much slower and much more uneven than most people believe,” David...
(Bloomberg Opinion) -- Rent collection day last Wednesday looked like a disaster for mall landlords in the U.K. Reeling from the coronavirus lockdown, tenants including JD Sports Fashions Plc, Boots drugstores and Primark withheld some payments pending negotiations with landlords. Estimates vary widely as to how much was paid of the 2.5 billion pounds ($3.1 billion) due — from 10% to 50%.This isn’t just bad news for Lakeside mall-owner Intu Properties Plc, which on Friday collapsed into administration. Missing rents affect everyone, including property developers Hammerson Plc and British Land Co.Whatever the final tally, the balance of power between retailers and their landlords has indelibly shifted. The days when well-known retail chains signed 25-year leases dictating that rents only rose were already largely consigned to history. But the retail apocalypse wrought by Covid-19 means that landlords have no choice but to accept even shorter leases and far more flexible terms with a good dose of the right services thrown in. As I have argued, the pain from the pandemic must be shared...
The coronavirus pandemic has put the economy into a swift and severe downturn. But just because we are in the midst of a financial crisis, it doesn't necessarily mean you should stop investing....
Some gold bulls have bought in heavily to the argument that gold price suppression has been an ongoing activity for years, even decades. Supposedly, trading in the gold market is manipulated in ways that depress the market price for gold....
(Bloomberg) -- Emerging-market stocks fell and currencies were little changed last week as a rebound in coronavirus infections halted progress on reopening the U.S. economy. Developing-nation assets had gained early in the week amid progress in U.S.-China trade talks, but the gains were erased as Texas, Florida, California and other states reported a surge in cases. Mexico and Philippines cut interest rates, while Turkey unexpectedly kept borrowing costs unchanged.The following is a roundup of emerging-market news and highlights for the week through June 28:Click here for our emerging-market weekly preview, and listen here to our weekly podcast.Highlights:Trump said the phase-one trade deal with China was “fully intact” after his adviser Peter Navarro spurred a temporary stock slump with comments interpreted as a decision to end the agreementThe Pentagon put Huawei Technologies and Hangzhou Hikvision Digital Technology on a list of 20 companies it says are owned or controlled by China’s military,...
Jun.29 -- The economy of Kazakhstan, central Asia’s largest energy producer, took a double hit from the coronavirus-related lockdown and the collapse in oil prices. Naubet Bisenov reports on "Bloomberg Markets: Asia."...
We are almost done with the second quarter. Investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned almost 20% this quarter. In this article we look at how hedge funds traded Alibaba Group Holding Limited (NYSE:BABA) heading into this quarter and whether they were right about the […]...
