NYC, LA, Dallas to Learn Which Will Host World Cup Final in 2026
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FIFA will unveil the match schedule for the 2026 World Cup on Sunday, including the location of the final. New York, Los Angeles, and Dallas are the top contenders to host the final. New York's MetLife Stadium, Dallas' AT&T Stadium, and Los Angeles' SoFi Stadium are the potential venues. The final decision will be announced by FIFA President Gianni Infantino. The US will host the later rounds of the tournament, while Canada and Mexico are co-hosting the 2026 World Cup.
#Fifa #WorldCup #2026 #NewYork #LosAngeles #Dallas
https://www.bloomberg.com/news/articles/2024-02-03/nyc-la-dallas-to-learn-which-will-host-world-cup-final-in-2026
Biden Delivers Reprisal to Iran With Room for De-Escalation
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US strikes on Iran's militias and proxy forces fulfilled President Biden's promise to retaliate for the deaths of three US soldiers yet left room for both sides to back away from a high-risk confrontation. The strikes fit with a plan Biden had telegraphed for days: He would inflict pain on Iran for the drone attack on a US base in Jordan by one of the Iraq-based militias it supports. He would demonstrate the full range of American power. And he would also keep his options open.
#Us-iranRelations #Retaliation #Militias #ProxyForces #DroneAttack
https://www.bloomberg.com/news/articles/2024-02-03/biden-delivers-reprisal-to-iran-with-room-for-de-escalation
Vivendi Is Proposing to Break Up Bolloré’s Media Empire Into Four
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Vivendi is proposing to break up Bolloré's media empire into four separate entities. The proposal comes as Vivendi seeks to unlock value from its stake in Bolloré and increase its own focus on the music and entertainment industries. The four entities would include Vivendi's own Universal Music Group, as well as separate companies for Canal+ Group, Editis, and Havas. The move is seen as a way to streamline operations and allow each entity to pursue its own growth strategies. The proposal is subject to approval by Bolloré's board of directors.
#Vivendi #Bolloré #MediaEmpire #BreakUp #UniversalMusicGroup #Canal+Group #Editis #Havas
https://www.bloomberg.com/news/articles/2024-01-30/vivendi-is-proposing-to-break-up-bollore-media-empire-into-four
Fed’s Goolsbee Says He Wants to See More Inflation Progress
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Federal Reserve Bank of Chicago President Austan Goolsbee wants to see more evidence of progress towards the 2% inflation goal before considering cutting interest rates. Goolsbee did not rule out a rate cut in March but stated that he prefers to wait for more data before making a decision. The comments were made in an interview on PBS.
#FederalReserve #Inflation #InterestRates
https://www.bloomberg.com/news/articles/2024-02-02/fed-s-goolsbee-says-he-wants-to-see-more-inflation-progress
China Gloom Spurs Record $2 Billion Rush Into Foreign Stock ETFs
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In January 2024, a record amount of Chinese money, totaling $2 billion, flowed into overseas equities through 33 onshore exchange-traded funds (ETFs) that track foreign benchmarks excluding Hong Kong. This is the largest monthly inflow since late 2020. More than half of the money went into US stocks, particularly the S&P 500, which reached new highs, while $204 million was invested in Japanese stocks.
#China #StockMarket #Etfs #Investment
https://www.bloomberg.com/news/articles/2024-02-03/china-gloom-spurs-record-2-billion-rush-into-foreign-stock-etfs
Surveillance: El-Erian Says ‘Wow’ Jobs Report Threatens a Fed Headache
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The US jobs report for February 2, 2024, exceeded expectations with 353,000 new jobs and strong average hourly earnings. Mohamed El-Erian, Chief Economic Advisor at Allianz, described the report as a 'wow' and believes it poses a headache for the Federal Reserve. The strong wage growth presents a quandary for policymakers who were considering cutting rates. Wall Street reacted positively to the report.
#UsJobsReport #FederalReserve #WageGrowth
https://www.bloomberg.com/news/newsletters/2024-02-02/el-erian-says-wow-us-jobs-report-tees-up-a-headache-for-the-fed
FTSE 100 Live: Pound, Gilts Plunge After Hot US Jobs Report
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The pound and gilts experience heavy losses after a hot US jobs report. Traders are uncertain about the Bank of England's rate cuts. Superdry shares surge on potential takeover interest. Budget airlines EasyJet and Wizz Air rise due to predicted strong consumer demand for travel. Apple's sales in China continue to decline while Mark Zuckerberg's wealth surges as Meta rallies. The FTSE 100 live blog provides news and analysis vital to UK markets.
#Ftse100 #Pound #Gilts #Superdry #Easyjet #WizzAir #Apple #Meta #MarkZuckerberg
https://www.bloomberg.com/news/live-blog/2024-02-02/ftse-100-what-s-moving-uk-markets-right-now-markets-today-ls4ahh73
Markets Don’t Know What to Expect Anymore, and That’s Good
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The article discusses how the pandemic economy and its policies have brought back higher inflation and interest rates, altering expectations in financial markets. There is wide variation among investors, consumers, and professional forecasters about future inflation rates and bond yields. The author argues that this diversity of economic forecasts can lead to a richer discussion and help expose previously unseen risks and weaknesses.
https://www.bloomberg.com/opinion/articles/2024-02-02/markets-don-t-know-what-to-expect-anymore-and-that-s-good
Maybank's Loh: Diversify Beyond US Mega-Tech Stocks
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Maybank Group Wealth Mgmt CIO Eddy Loh suggests diversifying beyond the U.S. mega-tech stocks to other value tech plays, as well as sectors including health care and materials. He speaks with Haslinda Amin and Rishaad Salamat on "Bloomberg Markets: Asia."
https://www.bloomberg.com/news/videos/2024-02-02/maybank-s-loh-diversify-beyond-us-mega-tech-stocks-video
PBOC May Lower 1Y MLF by 20 to 30bps in 2024: Standard Chartered Says
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Standard Chartered Bank's head of China macro strategy, Becky Liu, predicts that the People's Bank of China (PBOC) may lower the 1-year Medium-term Lending Facility (MLF) rate by 20 to 30 basis points in 2024. Liu expects China's monetary policy to continue easing as the country undergoes an economic transition, with inflation staying low and the authorities showing conviction in pushing for continued economic reforms. The PBOC has been cutting rates over the past two years, and Liu believes that 2024 will provide a better environment for further rate cuts. She also mentions that credit growth might be slightly lower in the first quarter, followed by stronger growth in the second and third quarters. Liu forecasts that Chinese ten-year yields will go lower, and she expects a material change in SGB supply, with the official budget deficit estimated to be around 3% of GDP. Additionally, she notes that the PBOC's communication has improved, and the reinstatement of the credit unit helps rebuild confidence in the market.
#Pboc #StandardChartered #China #MonetaryPolicy #MlfRate #Inflation #CreditGrowth #ChineseTen-yearYields #SgbSupply
https://www.bloomberg.com/news/videos/2024-02-02/pboc-may-lower-1y-mlf-by-20-to-30bps-in-2024-stanchart-video
US Senate’s Border, Ukraine Aid Deal on Path for Vote Next Week
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Senate negotiators are closing in on a US migration and Ukraine aid deal and plan to release it as soon as Friday. Senate Majority Leader Schumer said the deal would be made available to the public no later than Sunday, and the Senate would hold the first procedural votes on the measure no later than February 7.
#UsSenate #Border #UkraineAid #Vote
https://www.bloomberg.com/news/articles/2024-02-01/us-senate-s-border-ukraine-aid-deal-on-path-for-vote-next-week
FTSE 100 Live: Bank of England Opens Door to Interest Rate Cuts
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The Bank of England keeps interest rates at 5.25% with the first three-way split in the vote since 2008. The central bank opens the door for interest rate cuts but keeps the outlook relatively flexible. Shell's profit exceeds estimates and Glencore expects earnings to be at the lower end of a range. Lewis Hamilton will join Ferrari F1 team in 2025, leaving Mercedes.
#Ftse100 #BankOfEngland #InterestRates #Shell #Glencore #LewisHamilton #Ferrari #Mercedes
https://www.bloomberg.com/news/live-blog/2024-02-01/ftse-100-live-what-s-moving-uk-markets-right-now-markets-today
Bond Traders Learned a Twisted Lesson From Evergrande’s Fall
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Investors penalize China Inc. while seeking notes issued elsewhere in Asia. Evergrande, the world's most indebted developer, was ordered into liquidation by a Hong Kong court. Global investors are left holding worthless notes and may have to wait for years to recover a few cents on the dollar. Dollar bond investors should be cautious and learn from this experience.
#BondTraders #Evergrande #ChinaInc. #CreditRisks #Investors
https://www.bloomberg.com/opinion/articles/2024-02-01/evergrande-bond-traders-learned-a-twisted-lesson-from-its-fall
ANZ's Yeung on China's Economy
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Raymond Yeung, ANZ Chief Greater China Economist, discusses China's economic outlook amid persistent deflation pressures. He mentions that the economy is slowing down and the numbers should be weak. Yeung believes that China is already in a deflationary era and that the deflationary trend will continue. He does not expect any meaningful recovery in the Chinese property market in 2024. Yeung also highlights the importance of employment and financial stability as top policy objectives for the Chinese government. He mentions that the government is trying to strengthen party control in financial institutions and reform financial policy. Yeung concludes that the government cares about both financial stability and economic fundamentals. The interview was conducted on Bloomberg's "Daybreak Asia" with Paul Allen and Annabelle Droulers.
#China #Economy #Deflation #PropertyMarket #Employment #FinancialStability
https://www.bloomberg.com/news/videos/2024-01-31/anz-s-yeung-on-china-s-economy-video
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