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Asian stocks higher on Yellen testimony January 20, 2021SharePrint Asian equities edge higher on stimulus story Incoming Treasury Secretary Janet Yellen made all the right noises as far as Wall Street was concerned at her confirmation hearing overnight. Wall Street responded overnight with a thumbs-up, buying equities and selling the US dollar. They wanted to hear more stimulus, and Ms Yellen delivered 1.9 trillion reasons on that front. The financial markets chose to ignore what they didn’t want to hear. Namely, Yellen’s remarks that taxes would rise on corporations and the rich, and th...

Yellen stimulates markets Yellen says more stimulus on its way Wall Street got back to business as usual overnight, buying equities and selling the US dollar as Janet Yellen, in her Treasury Secretary selection testimony, told them everything they wanted to hear. They wanted to hear more stimulus, and Ms Yellen delivered 1.9 trillion reasons on that front. As is financial markets wont, however, they ignored what didn’t fit that narrative. Namely, taxes would rise on corporations and the rich, and that a rapprochement in relations with China was off the table. Ms Yellen mentioned China’s t...

The proposed aid package includes $415 billion to bolster the U.S. response to the virus and the rollout of COVID-19 vaccines, some $1 trillion in direct relief to households.

Oil flat, gold under pressure January 19, 2021SharePrint Oil barely changed in Asia Oil prices barely moved overnight with trading curtailed by the US public holiday. Like other asset classes, oil has received a gentle US stimulus tailwind in Asia, with both Brent and WTI futures moving modestly higher. Brent crude has risen 0.55% to USD55.00 a barrel, and WTI has risen 0.40% to USD52.25 a barrel. Further dollar strength could extend oil’s correction lower—the USD53.00 a barrel level being a critical pivot level for Brent crude. WTI’s support is nearer, at USD51.50 a barrel although onl...

Janet Yellen pushes GOP senators on $1.9-trillion pandemic relief package Martin Crutsinger Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file ... This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Anna Moneymaker/Getty Images Janet Yellen, U.S. president-elect Joe Biden’s choice as Treasury secretary, said Tuesday the incoming administration would focus on winning quick passage of its US$1.9-trillion pandemic relief plan, rejecting Republican argu...