By Reuters Staff
6 Min Read
DUBAI (Reuters) - The release of a U.S. intelligence report implicating Saudi Arabia’s Crown Prince Mohammed bin Salman in the killing of journalist Jamal Khashoggi has highlighted the political risk for companies and investors of doing business with the kingdom.
FILE PHOTO: Saudi Crown Prince, Mohammed bin Salman attends the Saudi Cup at King Abdulaziz Racetrack in Riyadh, Saudi Arabia, February 20, 2021. Saudi Press Agency/Handout via REUTERS
Saudi Arabia, which rejected the report’s findings, is keen to attract foreign investors to help end its dependence on oil. The kingdom has also been scouting for deals abroad to transform itself into a global economic powerhouse.
4 Min Read
NEW YORK (Reuters) - The cost of borrowing U.S. 10-year Treasuries in the overnight repurchase, or repo market, went deeply negative on Thursday, analysts said, as investors sought to short the notes, causing market stress.
FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won
Negative rates in the repo market, which is important to the financial system, with trillions of dollars in short-term loans traded daily, partly reflect uncertainty about how long the U.S. Federal Reserve will keep its easy monetary policy.
“There is more market stress right now because the market is very volatile,” said Scott Skyrm, executive vice president at broker-dealer Curvature Securities.
3 Min Read
SYDNEY, March 4 (Reuters) - The Australian and New Zealand dollars flatlined on Thursday after another spike in global bond yields spooked investors away from riskier assets, though sentiment was aided by data showing a record Australian trade surplus.
The Aussie stood at $0.7785, having fallen from $0.7839 overnight when a jump in U.S. Treasury yields knocked equities lower. Importantly, it managed to stay clear of major support around $0.7693, keeping the recent uptrend alive.
The kiwi dollar was holding at $0.7251, after also easing from a $0.7302 top overnight. It has solid support around $0.7210.
The renewed selloff in Treasuries rippled though local markets with yields on Australian 10-year bonds popping back up to 1.79%, from a low of 1.628% at the start of the week.
4 Min Read
NEW YORK (Reuters) - Investors hoping for action from Federal Reserve Chair Jerome Powell to address recent turmoil in the Treasury market were left disappointed.
Powell told a Wall Street Journal forum on Thursday that the Fed remained committed to keeping monetary conditions loose until more Americans are back to work. His comments, likely the last before a press conference on March 17 following the Fed’s next policy meeting, brushed off concerns that a recent move up in U.S. Treasury yields might spell trouble for the Fed as investors push up borrowing costs the central bank wants to keep low.
Coronavirus infections have started to rise again in Hungary, probably due to the spread of the variant of the disease first detected in Britain, Prime Minister Viktor Orban told state radio on Friday.