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Kelly Evans: The bond market goes “risk-on”
World

Kelly Evans: The bond market goes “risk-on”

Pretty impressive move in the 10-year Treasury note yesterday; the yield jumped above 0.95% and is holding there this morning. That puts us back to nearly the highs we reached on election night. We haven't been above 1% since March. It wasn't just there that we saw some big bond-market moves; investors also piled into high-yield a.k.a. "junk" bonds and drove the yield on the Barclays' index down by the same amount as Treasury yields rose, about 10 basis points. That's a pretty big "risk-on" signal, as analyst Brian Reynolds of Reynolds Strategy pointed out; what's more, it's the second such day in a month of such combined moves (the first being Nov. 9th, on Pfizer's vaccine announcement). That means we've got a "cluster" now of risk-on credit days, which is historically a bullish thing. ...
Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’
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Jim Cramer: Stock moves mark the end of ‘tyranny of the index funds’

After a down day for stocks in Wednesday's session, CNBC's Jim Cramer said the market is giving investors a chance to buy individual stocks now that Wall Street has broken away from the "tyranny of the index funds." "There's been a move to own individual stocks led by younger, often novice investors who've been captivated by a world of commission-free trading," the "Mad Money" host said. "It took me a little while to realize it, but the no-commissions — it's been revolutionary." The comments came after stocks traded lower for the second day in a row, with the Dow and S&P 500 pulling back from record levels as state and local governments put new restrictions in place to mitigate the second wave of the coronavirus and researchers continued to post optimistic results from late-stage vaccine...
Indians in Kamala Harris’ ancestral home wake up to her victory
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Indians in Kamala Harris’ ancestral home wake up to her victory

THULASENDRAPURAM, India: After rooting for Kamala Harris as President-elect Joe Biden's running mate, people in her small ancestral Indian village woke up on Sunday (Nov 8) morning to the news of her making history. Most of them had gone to sleep by the time Biden clinched the winning threshold of 270 Electoral College votes. "Congratulations Kamala Harris. Pride of our village. Vanakkam (Greetings) America," one female resident wrote in colour powder outside her residence. "We all have been waiting for this day. Congratulations," Aulmozhi Sudhakar, a village councillor, said. The village of Thulasendrapuram, population 350, planned to celebrate Harris' success with singing, dancing and firecrackers at a temple later on Sunday. Already in the morning hours, groups gathered at ...
12 new imported COVID-19 cases in Singapore, largest increase in more than a week
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12 new imported COVID-19 cases in Singapore, largest increase in more than a week

SINGAPORE: Singapore reported 12 new COVID-19 cases on Sunday (Nov 22), all of which were imported infections, said the Ministry of Health (MOH). This is the largest increase in infections since Nov 13, when 12 imported cases were reported as well. No locally transmitted cases were reported for the 12th consecutive day. All the imported COVID-19 cases were placed on stay-home notice upon arrival in Singapore, MOH said. They were asymptomatic, and detected from proactive screening and surveillance, the ministry added. Of the 12 cases, three are Singapore permanent residents who returned from India. Two other cases also arrived from India, a dependent's pass holder and a student's pass holder. Five are work permit holders currently employed in Singapore who arrived from the Philippi...
Commentary: After years of demonising China, the US has to start an honest dialogue
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Commentary: After years of demonising China, the US has to start an honest dialogue

Biden’s presidency offers a chance to change the tone and approach in dealing with China, which will not be cowed by threats, say two observers. HONG KONG: Americans don’t agree on much of anything nowadays. Yet they are largely united in their belief that China represents an existential challenge to their country and the international order it has long led. This combination of internal division and external demonisation has made the Sino-American rivalry increasingly inescapable – and potentially catastrophic. America’s internal divisions have been fueled in recent years by social media, which, by populating users’ feeds with tailored content, creates “echo chambers” that reinforce, rather than challenge, their beliefs and values. When alternative ideas do make it into the echo ch...
US weekly jobless claims fall modestly; labour market recovery slowing
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US weekly jobless claims fall modestly; labour market recovery slowing

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell only slightly last week, adding to signs that the economic recovery was losing steam as the COVID-19 pandemic intensifies and fiscal stimulus ends. The economy could be plunged into a period of uncertainty following Tuesday's presidential election, potentially undermining business investment and delaying a much-needed second coronavirus relief package from the government. Democrat Joe Biden edged closer to victory on Thursday (Nov 5), while President Donald Trump alleged fraud without providing evidence, filing lawsuits and calling for recounts in a race yet to be decided two days after polls closed. "It looks like a second wave of layoffs is hitting the economy perhaps due to the rising count of vi...
US imposes sanctions on Russian, Chinese firms for supporting Iran missile programme
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US imposes sanctions on Russian, Chinese firms for supporting Iran missile programme

United States Secretary of State Mike Pompeo on Friday said that the country has imposed sanctions on four companies from China and Russia for supporting Iran’s missile programme that remains a “significant proliferation concern”.“The US has sanctioned four entities in China and Russia for their support of Iran’s missile programme, which remains a significant proliferation concern. We will continue to use all our sanctions tools to prevent Iran from advancing its missile capabilities,” Pompeo said.The companies are Chengdu Best New Materials Co Ltd and Zibo Elim Trade Co, Ltd. in China and Nilco Group, which is also known as Nil Fam Khazar Company and Santers Holding and Joint Stock Company Elecon in Russia for transferring sensitive technology and items to Iran’s missile programme.In 2018...
In Tibet, China preaches the material over the spiritual
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In Tibet, China preaches the material over the spiritual

LHASA, China: Dzekyid, a 54-year-old barley farmer, presents himself as a role model for his neighbours and for the success of China's efforts to tie economic development to social control in Tibet. Dzekyid's well-built house in Jangdam village has a hall filled with Buddhist scriptures and Thangka paintings, and a row of prayer wheels for his religious 76-year-old father, Tenzin, to spin twice a day. As a member of China's ruling Communist Party, Dzekyid is an atheist. "This house is possible because of good government policies. My heart is wholly with the party, not even one bit with religion," said Dzekyid, whose family was showcased to a group of reporters on a government-organised tour of Tibet, an area where access to foreign journalists is normally barred. Government official...
Airlines scramble to prepare for ultra-cold COVID-19 vaccine distribution
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Airlines scramble to prepare for ultra-cold COVID-19 vaccine distribution

Airlines are scrambling to prepare ultra-cold shipping and storage facilities to transport COVID-19 vaccines developed by Pfizer and Moderna, whose doses, which require deep freezing, are likely to be among the first to be distributed. PARIS/FRANKFURT: Airlines are scrambling to prepare ultra-cold shipping and storage facilities to transport COVID-19 vaccines developed by Pfizer and Moderna, whose doses, which require deep freezing, are likely to be among the first to be distributed. A recent survey by an air cargo association and a drug shippers' group found only 15per cent of industry participants felt ready to transport goods near the minus 70 degrees Celsius (-94°F) required by the Pfizer Inc vaccine, while around 60per cent could meet Moderna Inc's less stringent -20°C requirement. ...
Former Senior Minister of State for Transport Lam Pin Min joins car rental firm Lumens as senior adviser
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Former Senior Minister of State for Transport Lam Pin Min joins car rental firm Lumens as senior adviser

SINGAPORE: Former Senior Minister of State for Transport and Member of Parliament Lam Pin Min has joined Lumens, a private car rental company, as a senior adviser. Dr Lam was part of the People’s Action Party team that lost to the Workers' Party in the newly formed Sengkang Group Representation Constituency (GRC) at the Jul 10 General Election. He was previously an MP for Sengkang West Single Member Constituency. On Tuesday (Oct 27), Dr Lam said he was “pleased” to join Lumens in a Facebook post. “I am glad to have met the motivated and professional team this morning to better understand their vision, aspiration and challenges in today’s increasingly complex environment,” Dr Lam said. “And I look forward to working with the team to advance Lumens’ business development and growth ...