Market Update

A spokesman for the French Minister of Industry said Tuesday that no company in France has signed a contract with Russia to produce its Sputnik V vaccine against the Coronavirus, apparently contradicting comments made by the head of the Russian Direct Investment Fund. “As far as we know, no contract …

The head of Russia’s sovereign fund said Tuesday (March 9th) that the fund has entered into agreements with production facilities in Italy, Spain, France, and Germany to manufacture the Sputnik V vaccine, the vaccine against COVID-19. The fund’s president’s speech came after he signed a commercial agreement with a Swiss …

China’s CPI fell 0.2% year-on-year in February 2021, after a 0.3% decline in the previous month and compared to the market consensus of 0.4%. It was the second consecutive month of deflation, as prices fell for both food and non-food items. On a monthly basis, consumer prices rose 0.6% in …

Gold fell on Wednesday, March 10, after recording its biggest jump in two months in the previous session, as US Treasury yields and the dollar rose, weakening the yellow metal’s appeal. Gold fell in the spot market 0.2% to $1712.82 an ounce after it rose more than 2% on Tuesday …

Japanese stocks were largely unchanged on Wednesday, March 10, as sales of domestic funds before the end of the fiscal year wiped out gains in tech stocks that tracked Wall Street’s rally last night. The Nikkei rose 0.03% to close at 29036.56 points, while the Topix gained 0.11% to 1919.74 …

Oil prices declined on Tuesday for the second consecutive session, amid expectations for a buildup in U.S. crude supplies. A recent S&P Global Platts poll of market analysts estimated that oil inventories increased last week by 2.7 million barrels, following a huge surge of 21.6 million barrels in the week …

The United States Treasury Secretary Janet Yellen said on Tuesday that the Department will aim at quickly distributing $350 billion of state and local government aid, as part of the $1.9 trillion relief bill that is expected to be passed by Congress tomorrow. “In the coming days our Treasury team …

The New York Stock Exchange (NYSE) rose on Tuesday and finished with strong gains, as Treasury bond yields in the United States pulled back from their highest level in about 13 months, and with tech stocks rising following strong selling pressures. The Dow Jones Industrial Average finished higher by 30 …

Treasury yields in the United States declined on Tuesday as markets continued to react to recent developments that saw yields rise to their highest level in about 13 months. Investors showed an increased appetite for Treasury bonds today. The benchmark 10-year Treasury bond yield decreased by 4.9 basis points to …

Gold prices finished Tuesday’s trading session with strong gains, supported by the decline of Treasury bond yields and the U.S. Dollar (USD), recording its first gain after four consecutive declines. The rise in the yellow metal prices followed closing at its lowest level since early April 2020 on Monday. Gold …