Market Update

Data from the State Statistics Institute on Friday showed that Turkey’s trade deficit shrank 32.8% year on year in January to $3.034 billion, according to the general trade system. The institute said that Turkey’s exports increased in January by 2.3% and imports decreased by 5.9% compared to January 2020. In …

European shares tumbled 1.5% on Friday, led by mining and technology companies, as a jump in bond yields and concerns about rising equity valuations hurt demand for riskier assets. The benchmark European stocks index is on track to post its worst single-day performance this month.

The Turkish lira fell for a fifth day in a row today, Friday, hit by high US bond yields, which contributed to erasing almost all of the gains made this year, and paving the way for a potential more difficult battle in the face of double-digit inflation. The lira fell …

Bitcoin plunged as much as 6% today, hitting its lowest level in two weeks, as turmoil in global bond markets led to higher yields and sparked sales in riskier assets. The largest cryptocurrency in the world fell to a low of $44,451 before recouping some of its losses. And in …

Oil prices slid on Friday as the collapse in bond prices led to gains for the US dollar and expectations have grown that as oil prices return to pre-pandemic levels, more supply will likely find its way into the market. US West Texas Intermediate crude futures fell 96 cents, or …

Shares in the Asia-Pacific region suffered sharp losses in trading on Friday, after the decline in Wall Street in yesterday’s session, as the rapid rise in bond yields raised investor concerns. In Japan, the Nikkei225 index led the losses among the major markets in the region as it fell by …

“Moderna” revealed that it is working on a third experimental dose of the Coronavirus vaccine, targeting a new mutated strain of the virus. The company indicated that it shipped doses of the new vaccine to the National Institutes of Health for clinical trials, explaining that “Moderna is committed to making …

President of the Federal Reserve Bank of New York, John Williams, said on Thursday that he is “more optimistic about the medium-term outlook for the economy,” MarketWatch reported. Williams predicts economic growth this year will be “the strongest seen in decades,” while expecting that inflation will “remain subdued for some …

The Vice-Chair of the United States Federal Reserve, Randal Quarles, said that the Fed must improve the effectiveness of stress tests to help the banking sector cope with the Coronavirus pandemic, Reuters reported. “The Fed must continue to innovate so that stress testing remains effective.”“I believe that there is room …

President of the Federal Reserve Bank of St. Louis, James Bullard, said on Thursday that the Fed policies are not expected to lead to a surge in inflation similar to what the United States saw in the 1970s, MarketWatch reported. “That’s completely different from the inflation-targeting era that began in …