Month: November 2020

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Democrats Holding House Majority But Suffer Losses to GOP

November 4, 2020 admin Comments Off on Democrats Holding House Majority But Suffer Losses to GOP

(Bloomberg) — Democrats are forecast to keep control of the U.S. House after Tuesday’s elections, but with at least six incumbents losing their seats and others in jeopardy Republicans have likely chipped away at their majority.Among the Democrats defeated were several elected in the 2018 “blue wave” that swept the party into the House majority, as well as with Agriculture Chairman Collin Peterson, who has represented his Minnesota district since 1991. There were 13 other Democrats trailing or in tight races in Pennsylvania, New York, Michigan, Iowa, Virginia and California.With the losses and the failure to flip targeted GOP seats …read more […]

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U.S. Futures Erase Drop as Treasuries, Dollar Jump: Markets Wrap

November 4, 2020 admin Comments Off on U.S. Futures Erase Drop as Treasuries, Dollar Jump: Markets Wrap

(Bloomberg) — S&P 500 futures fluctuated while Treasuries jumped amid concern the U.S. is heading for a contested election after President Donald Trump called for the Supreme Court to intervene.Contracts on the benchmark stock index swung from losses to gains. Futures on the tech-heavy Nasdaq 100 remained up more than 1.5% for most of the Asian and European day. Ten-year Treasury yields tumbled to as low as 0.76% and the dollar strengthened against its biggest peers. The offshore yuan and Mexican peso retreated and gold slipped. European stocks opened lower.Earlier futures lurched lower after Trump falsely declared early Wednesday he …read more […]

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China Plans Deeper Ant Crackdown With Bank Funding Curbs

November 4, 2020 admin Comments Off on China Plans Deeper Ant Crackdown With Bank Funding Curbs

(Bloomberg) — The shock suspension of Ant Group Co.’s $35 billion initial public offering is just the beginning of a renewed campaign by China to rein in the fintech empire controlled by Jack Ma.Authorities are now setting their sights on Ant’s biggest source of revenue: its credit platforms that funnel loans from banks and other financial institutions to millions of consumers across China, according to people familiar with the matter.The China Banking and Insurance Regulatory Commission plans to discourage lenders from using Ant’s platforms and has already asked some to ensure their portfolios are compliant with stringent draft regulations announced …read more […]

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Here’s What Some Market Watchers Are Saying About the Election

November 4, 2020 admin Comments Off on Here’s What Some Market Watchers Are Saying About the Election

(Bloomberg) — U.S. election night has had its fair share of drama, with some wins for both sides in the bag but key results yet to be decided.Investors haven’t been sitting aside as votes are counted amid volatile markets. S&P 500 futures have swung between a gain of 2.1% and a loss of 1%. The yield on 10-year Treasuries fell as low as 0.79%, a decline of 11 basis points, before paring some of the drop. The Bloomberg Dollar Index rallied 1% before giving up a slice of the gains.Here’s what some market watchers are saying:Bye Bye, Blue Sweep?“Both the …read more […]