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DUBAI, March 15 (Reuters) - Dubai state developer Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters, as real estate companies in the United Arab Emirates offload non-core activities amid the coronavirus downturn.
Nakheel, the developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process, said two of the sources who declined to be named as the matter was not public.
Nakheel declined to comment and Synergy did not respond to a request for comment.
District cooling firms deliver chilled water through insulated pipes to offices, as well as industrial and residential buildings.
Federal Reserve policymakers are expected this week to forecast that the U.S. economy will grow in 2021 at the fastest rate in decades, with unemployment falling and inflation rising, as the COVID-19 vaccination campaign gathers pace and a $1.9 trillion relief package washes.
A surge in bond yields, fears about rising inflation and a jump-forward in interest rate expectations will be top of mind for investors at this week's Federal Reserve policy meeting.
The Texas state Senate approved a bill on Monday to cut about $5.1 billion in disputed electricity and service fees levied on power marketers during a winter freeze that sent the state's power market into financial crisis.
Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates prices)
LONDON, March 15 (Reuters) - Europe’s government bond yields were lower on Monday, tracking moves in U.S. Treasury yields ahead of a U.S. Federal Reserve meeting on Wednesday.
Rising bond yields have spooked markets so far in 2021, with market participants worried that an economic recovery from the pandemic and fiscal stimulus could cause a spike in inflation due to pent-up consumer demand when lockdowns end.
Rising inflation could hurt bond prices as it may spur the European Central Bank to dial back its monetary stimulus.
U.S. Treasury yields were close to a 13-month peak on Monday, pushed higher by bets that economic growth in the United States will accelerate after President Joe Biden’s $1.9 trillion stimulus bill got its final approval last week.