The Markets | - Part 37

Bonds Plunge, Stocks Undo Gains on Inflation Risk: Markets Wrap

LAGOS (Capital Markets in Africa) — Inflation concerns are rattling investors worldwide once again, fueling a selloff in bonds and sending U.S. stocks down from record highs. Ten-year Treasury yields climbed above 1.75% for the first time since January 2020, while the 30-year breached 2.5% for the first time since August 2019. The Nasdaq 100 Index, a benchmark for high-valuation stocks that are sensitive to rising yields, sank, with Apple Inc., Microsoft Corp. and Tesla…

Online trading: Beginning the journey to online trading

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LAGOS (Capital Markets in Africa) – Online trading is becoming increasingly popular, with Modern Trader reporting that the number of global online traders has grown from 9.5 million four years ago, to more than 15 million today. Dany Mawas, Regional Director at INFINOX, a leading CFD and FX broker with an international presence including in Africa, attributes this growth to technological advances, which makes trading convenient and fast. Traders can now trade from anywhere and at…

Time to be Small -Rupert Thompson, Chief Investment Officer at Kingswood

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LONDON (Capital Markets in Africa) – Equity markets recovered some of their mojo last week. Global equities gained 2.0%-2.5% in sterling and local currency terms respectively and are now only 0.5%-1.0% below their mid-February peak. In the US, a number of equity indices have touched new all-time highs in recent days. The S&P 500, which is the benchmark generally used by professional investors and measures the performance of the largest 500 stocks, inched above its…

Yields Have a Long Way to Go Before They Sting Yellen’s Treasury

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LAGOS (Capital Markets in Africa) — As rising government bond yields stir up angst on financial markets, one person who sounds unfazed is U.S. Treasury Secretary Janet Yellen. Her own go-to measure of debt costs is headed in the opposite direction. Interest payments on the national debt fell last year, to $345 billion or 1.6% of gross domestic product. They’re on track to shrink further in 2021 — even after all the pandemic spending, plus a debt-market…

Bitcoin Steadies Near $56,000 After Weekend Rally Evaporates

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LAGOS (Capital Markets in Africa) — Bitcoin has given up all the gains made over the weekend when prices reached a record $61,000. Prices for the largest cryptocurrency shot up on Saturday, only to quickly retreat in the following days. The largest cryptocurrency sank almost 7% on Monday and was little changed on Tuesday, trading around $55,900 during the London morning. The volatility is due to investors taking some profit after Bitcoin’s recent run, said Vijay Ayyar, head…

The Winners and Losers From Surging Oil and Commodity Prices

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LAGOS (Capital Markets in Africa) — You’d think a world tiptoeing its way out of the coronavirus pandemic might only be good news for governments and economies. Yet the consequent surge in the price of energy, metals, and crops is highlighting the strengths of some and the vulnerabilities of others. Oil has climbed 75% since the start of November as major economies vaccinate their populations and reopen after the pandemic shut down factories and grounded planes. Copper, used…

Bitcoin Retreats From $55,000 Amid Pause in This Week’s Rally

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LAGOS (Capital Markets in Africa) — Bitcoin pared its rally this week after briefly climbing past $55,000 amid ongoing speculation about whether the largest cryptocurrency can test the record it set last month. The token fell as much as 2.1% and was trading at about $53,500 as of 12:01 p.m. in Hong Kong. It remains on track for a second straight weekly advance, bouncing back from a rout at the end of February. “It wouldn’t…

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