Archives of “May 2020” month

rss

Eurostoxx futures +1.1% in early European trading

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #
  • German DAX futures +1.0%
  • UK FTSE futures +2.4%
  • Spanish IBEX futures +1.0%
This follows a round of solid gains across the board to start the week yesterday, in which we saw the DAX starting to break out to fresh highs in nearly two months:
DAX

Nikkei 225 closes higher by 2.55% at 21,271.17

  
Analysis, Global Indices

The Nikkei breaks above its 100-day moving average

Nikkei

Japanese stocks are taking heart from the more positive risk mood today, as the rally in the equities space is starting to see a new extension leg to start the week.

The close in the Nikkei is the highest since 5 March, with gains of 2% also observed in the Hang Seng and the Shanghai Composite index also gaining by 0.8% on the day.
US futures are still keeping near 2% gains and that is feeding the more positive risk appetite to start the session. In the currencies space, the dollar and yen are weaker as a result with AUD/USD sitting near session highs at around 0.6578 currently.

Wuhan’s ‘Bat woman’ says coronavirus is “just the tip of the iceberg”

  
  Analysis
#  #  #

Shi Zhengli is known as China’s “bat woman” due to her work as deputy director of the Wuhan Institute of Virology

  • Is a virologist recognised internationally for her work on coronavirus in bats
Speaking in an interview on Chinese state television she said viruses being discovered now are “just the tip of the iceberg”
  • called for international cooperation in the fight against epidemics
  • research into viruses needs scientists and governments to be transparent and cooperative
  • “If we want to prevent human beings from suffering from the next infectious disease outbreak, we must go in advance to learn of these unknown viruses carried by wild animals in nature and give early warnings”
  • “If we don’t study them there will possibly be another outbreak.”
Comes via Bloomberg, more here at the link
Shi Zhengli is known as China's "bat woman" due to her work as deputy director of the Wuhan Institute of Virology

Bank of Japan Governor Kuroda says economy to remain in a severe situation

  
  Analysis

Kuroda speaking in parliament

  • Japan’s economy likely to remain in severe state, prices to remain on weak note due to pandemic impact, falling oil costs
  • risks to Japan’s economic outlook skewed to downside
  • will actively take steps to ease corporate strains, coordinating with govt
  • BOJ ready to ease without hesitation if needed with eye on pandemic fallout
Full text of Kuroda’s statement to parliament is here

US emini S&P 500 futures moving higher on Globex reopen (here’s why)

  
  Analysis

Novavax will begin human testing of its coronavirus vaccine …in Australia

That was a headline from an hour or so ago, and more detail here:
  • More on that Novavax Coronavirus vaccine human testing getting underway
Re the headline to the post, given the usual market response to miracle coronavirus cure news (whatever the flavour of the day happens to be (bleach excluded) ) I am attributing the equity index future pop to this news. Pretty soon it’ll be over to the further investigations to show that its not actually a miracle cure at all, but in the meantime make hay while the sun shines!
Novavax will begin human testing of its coronavirus vaccine ...in Australia

Novavax will begin human testing of its coronavirus vaccine …in Australia

  
  Analysis
#  #  #  #  #  #  #

Novavax says it has begun enrolling participants in first human study of its coronavirus vaccine

  • The company says it’ll test vaccine safety, immune responses in about 130 healthy adults in Australia
  • expects initial results in July
  • to expand study to US if promising

The big problem I see here is how to begin the pump and dump scheme if NASDAQ is closed for the holiday?

—

Novavax is a US vaccine development company.

Novavax says it has begun enrolling participants in first human study of itscoronavirus vaccine

China is to evacuate citizens from India – says in response to lockdown

  
Analysis, Politics

Tensions are rising (further) on the India-China border, this posted earlier:

  • Indian media reports over 5,000 Chinese soldiers have intruded at five points into India
Now there are reports that China has said it will evacuate its citizens in India from next week. Reports are that China has arranged flights from Delhi, Mumbai and Kolkata starting June 2. The Chinese embassy on its website asked citizens wishing to return to book themselves on the flights.
China is couching the evacuation in terms that it is due to the lockdown in India, in case they are facing difficulties. But, with ties between the two countries under strain with stepped up confrontations in east Ladakh, alongside the Indian government raising scrutiny of Chinese investments, speculation is mounting there more to the evacuation.
Tensions are rising (further) on the India-China border, this posted earlier:

Bank of Israel holds rates at 0.10%

  
  Analysis

The latest from Israel’s central bank

  • Sees economy contracting 4.5% this year vs 5.3% prior
  • Sees growth of 6.8% in 2021 vs +8.7% prior
  • Inflation forecast at -0.5% this year vs -0.8% prior
  • Sees +0.7% inflation in 2021 vs +0.9% prior
The central bank said it would expand the use of existing tools, including interest rates (negative?) and operate additional ones if crisis lengthens.
I wonder if this is a preview of what’s to come elsewhere. If central banks will start marking up forecasts and stepping towards the sidelines but warning that they will do more if the pandemic worsens.
Go to top