The Editorial Team

U.K. INSIGHT: The 130 Billion Pound Cash Pile That’s Staying Put

LONDON(Capital Markets in Africa) — U.K. consumers aren’t the only ones who have seen a sharp rise in excess savings during the pandemic. Corporates have had a similar experience and are sitting on a cash pot of 130 billion pounds. The big difference for companies is that debt has risen sharply, too. As a result, we expect capital spending to recover more slowly as the economy reopens. Reduced uncertainty, higher confidence and, most importantly, the…

Stock Shorts Collapse as No Hedge Fund Wants ‘Head Ripped Off’

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — Wall Street bears battered by the Reddit crowd earlier this year have yet to regain their gumption, even with stocks at records and valuations near two-decade highs. The median short interest in members of the S&P 500 sits at just 1.6% of market value, near a 17-year low, according to Goldman Sachs Group Inc. In Europe, a short-covering frenzy has sent bearish bets collapsing like never before in Morgan…

Fed Rate-Hike Wagers Put on Back Burner as Blackout Begins

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NEW YORK (Capital Markets in Africa — Federal Reserve rate-hike expectations have been aggressively reduced over the past two weeks in the eurodollar futures market, just as policy makers enter their usual silent period before their April 28 decision. The rapid repricing has removed around 15 basis points of rate increases from the December 2022 eurodollar futures contract. This shift away from fully pricing in a 25-basis-point rise has prompted Citigroup Inc.’s Jason Williams to fade the…

JPMorgan Backs Super Soccer League With $4.8 Billion

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LONDON(Capital Markets in Africa) — JPMorgan Chase & Co. is bankrolling the biggest upheaval of European soccer since the 1950s in a 4 billion-euro ($4.8 billion) bet that has already drawn heavy criticism from fans, domestic leagues and politicians. The U.S. investment bank agreed to underwrite an initial 3.5-billion-euro investment to help a group of the world’s richest soccer clubs set up a top-tier Super League, a figure that will total 4 billion euros after…

Crypto Stock Mania Tested by Sliding Prices, Bitcoin Slump

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LAGOS(Capital Markets in Africa) — A drop in cryptocurrency-linked stocks in the wake of Bitcoin’s slide and Coinbase Global Inc.’s choppy debut is stirring a rallying cry from optimists who reject fears that the sector has peaked. A global, Bloomberg-curated basket of equities linked to crypto trading or Bitcoin mining fell some 9% over the past week, paring 2021’s climb to about 130%. A weekend Bitcoin plunge rattled crypto mania, but the token has since…

Why Is Bitcoin Tumbling and What Is the Outlook for Prices?

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LAGOS(Capital Markets in Africa) — The Bitcoin rollercoaster is back. The cryptocurrency fell by as much as 15% Sunday with rival coins like Ether and XRP also plunging. The retreat came after Bitcoin hit a record high of more than $64,000 Wednesday as the stock-market debut of the U.S.’s largest exchange for the tokens, Coinbase Global Inc., stoked enthusiasm for all things crypto. While prices steadied on Monday with Bitcoin holding just below $57,000, that’s…

Historic Oil Glut Amassed During the Pandemic Has Almost Gone

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers. Barely a fifth of the surplus that flooded into the storage tanks of developed economies when oil demand crashed last year remained as of February, according to the International Energy Agency. Since then, the lingering remnants have been whittled away as supplies hoarded at sea plunge and a…

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