Market Update

Prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose by 2% in January, the data published by Statistics Canada showed on Friday. This reading followed December’s increase of 1.5%.

A Reuters poll today showed that oil prices will witness a steady recovery this year, with the arrival of vaccines to prevent Covid-19 more people and the acceleration of the economic recovery, and in light of the additional momentum of stimulus and the control of supplies of major crude producers. …

Weekly data on fund flows from Bank of America showed that equity funds attracted their third-largest inflows ever at $46.2 billion in the week ending on Wednesday, led by flows into technology stocks and financial companies. Bank of America concluded that bond funds attracted $7.1 billion in inflows for the …

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 …