Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change. Measured by output, the world economy is well on the way to recovery from a slump the likes of which barely any of its 7.7 billion people have seen in their lifetimes. Vaccines […] Read more
Goldman Sachs has marked out the Mexican peso as its top emerging market (EM) currency pick “once the dust settles” from the coronavirus pandemic. In a note Thursday, Goldman strategists suggested that while it may be too early to engage with high-yield EM bets, with risks still prevalent and the dollar on the move, it is not too […] Read more
Millennials have always been perceived to be a generation that believes in `living –in the moment’, unlike their predecessors who were more inclined towards protection and preservation of wealth. This generation also considered instant gratification and easy monthly installments as the main mantra of happiness. In fact, according to Tata Capital’s flagship report The Millennial […] Read more
An extended rally in shares in mainland China lifted spirits across the Asian region on Thursday. Gains however were limited as the number of coronavirus cases globally soared above three million, with little sign of the virus peaking. China’s Shanghai Composite index closed 47.15 points or 1.39% higher at 3,450.59 points Thursday, while the blue-chip […] Read more
Customer deposits in the banking sector dropped by $25.3 billion, or 15 percent, from the end of August 2019, when they first started declining, to the end of April 2020. Deposits, which stood at $148 billion at the end of April, were declining as a result of the bank run that was triggered by concerns […] Read more
With the coronavirus pandemiccausing financial markets to tank and a prolonged period of uncertainty ahead, investors have been flocking to keep their cash in Singapore, with bank deposits in foreign currenciesreaching an all-time high of S$26.9 billion (US$19.2 billion) in April. In fact, such deposits have been steadily increasing since July, last year, data from […] Read more
The European Central Bank has been leading the push to stimulate Europe’s economy, keeping the cost of borrowing for local businesses and households low. But some now say its financial toolkit is almost empty. This is important for Small and Medium Enterprises, which represent more than 99 per cent of all European non-financial companies. They […] Read more
Mortgage rates are turning higher again, and that was likely behind a major surge in mortgage application volume last week. This often happens at the start of a rising rate cycle, as borrowers realize rates may have hit bottom and rush to get in before they move even higher. Total mortgage application volume rose 9.6% […] Read more
Europe’s real GDP (gross domestic product) for the year is projected to grow at its lowest rate since 2013, according to the International Monetary Fund (IMF). In its latest Regional Economic Outlook report, the IMF suggests that real GDP across the continent will moderate to 1.4%, down from 2.3% in 2018, before rebounding to 1.8% […] Read more
China talked up progress on trade with the US on Tuesday, highlighting bulk purchases of American farm products it had already made this year and saying that it was “on the same page” as Washington in negotiations. Asked if the two countries agreed on the degree of progress from two days of high-level talks in […] Read more
