By Reuters Staff
2 Min Read
Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/File Photo
JOHANNESBURG (Reuters) - The South African rand weakened slightly early on Tuesday, dragged down by a souring of global sentiment towards emerging markets as the dollar began to climb again.
At 0700 GMT the rand was 0.12% weaker at 14.5800 per dollar, having closed at 14.5625 overnight in New York.
Investors were mostly holding fire on large bets ahead of U.S. inflation data that will give further indications on the direction of lending rates in the world’s biggest economy.
Accommodative monetary and fiscal policy there has fuelled flows to riskier emerging market assets, but a steady rise in Treasury yields has raised fears of a quicker rise in rates.
By Reuters Staff
2 Min Read
FILE PHOTO: European Commissioner for Economy Paolo Gentiloni speaks during a news conference following the Eurozone finance ministers video meeting in Brussels, Belgium March 15, 2021. Olivier Hoslet/Pool via REUTERS/File Photo
BRUSSELS (Reuters) - The European Commission may increase its growth forecast for the euro zone for 2021 when it issues new economic projections in May, bringing them closer to the International Monetary Fund forecast, EU Economic Commissioner Paolo Gentiloni said.
Speaking at the IMF’s spring meetings, held virtually because of the COVID-19 pandemic, Gentiloni said economic recovery was under way because, despite new pandemic restrictions in some EU countries, vaccinations were accelerating.
The U.S. Internal Revenue Service needs more and consistent funding to help close a "tax gap" that is leaving perhaps more than $1 trillion in legally owed taxes uncollected every year, IRS Commissioner Charles Rettig said on Tuesday.
(Adds comment from S&P Global, updates prices)
LONDON/NEW YORK, April 12 (Reuters) - Ecuador’s government bonds rallied on Monday, with some hitting their highest-ever level after banker Guillermo Lasso defied the polls and won a presidential election on promises to revive the economy.
Lasso took 52% of the vote in a runoff following a campaign that pitted free-market economics against the social welfare plans of economist Andres Arauz.
Ecuador’s recently restructured bonds rose sharply, with July 2035 paper up 15 cents at 63.3 cents on the dollar, near its record high, and the July 2030 bond up nearly 18 cents to 77.5 cents on the dollar, its highest bid since trading started in September, according to MarketAxess and Refinitiv data.