A GFG spokesperson declined to comment. Credit Suisse temporarily replaced three employees in its asset management unit tied to the funds. Companies are increasingly getting access to both exchanges to take advantage of the arbitrage opportunity.Price differences have been widest on days when Britain is short of power supplies -- such as when wind generation is low or there are unplanned outages at power stations.The reason for the price gaps comes down to the different companies using the exchanges and the type of generation in their portfolio. The pandemic saw the amount repatriated fall last year for the first time since 2001The government will publish balance-of-payments figures for February on FridaySouth Korea will post February unemployment data Wednesday after the jobless rate jumped to a 21-year high of 5.4% the prior monthA reading of Chile’s fourth-quarter gross domestic product, scheduled for Thursday, will be watched for fresh information on how the economy is emerging from the pandemic. This could set the market tone for the rest of the weekThe yuan has been comparatively stable this year, with a gain of about 0.3%Also on Monday, China’s central bank will announce the rate for its medium-term lending facility, a major open-market operation tool. And thanks to innovations like cloud computing and automation, their earnings are expanding, as opposed to contracting or nonexistent, as they were in 2000. Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. In swaptions, a position has emerged targeting the Fed to hike seven to eight times by March 2025, according to a Barclays analysis.And while shorting Treasuries has been in vogue, “it’s possible the market may have gotten a little ahead of itself in the belly,” causing the 5-year rate to rise too much, said Jamie Anderson, head of U.S. trading for Insight Investment, which manages about $1 trillion.If the data come in weak or the Fed is on hold for longer than expected, “the belly should rally and the curve re-steepen,” he said.For Incapital’s Leary, the narrowing in the 5s30s gap came on the view that officials may discuss -- or even announce -- a twist next week. It’s started an internal probe into the collapse of the supply chain finance strategy.The scandal is also raising fresh questions about the firm’s risk management after a series of missteps and Warner’s role after she signed off on a $140 million loan to Greensill in late October, overruling some risk managers, people familiar with the matter said recently. On Friday, Saylor tweeted that MicroStrategy bought 262 additional Bitcoins for $15 million in cash, bringing the total to about 91,326. It has enough cash to get it to vadadustat approval (late 2021/early 2022) as the costly clinical trials have wound down. Profits from software and internet companies are expected to expand 22% this year and 12% in 2022. As of the end of February, $108.6 million of what it described as a “revolving factoring loan agreement” was outstanding. “With vadadustat’s first regulatory approval in hand, we continue to expect positive data from the Phase 3 PROTECT program to support vadadustat’s NDA [new drug application] filing around year end 2020, with its FDA approval and market launch around mid-2021 assuming the acquired Priority Review Voucher is utilized” commented Arce. But they also expect the U.S. central bank’s own forecast, released at the same time as its policy statement at 2 p.m. in Washington on Wednesday, will show the median Fed official projecting rates staying on hold near zero throughout that year.Such a result would match the Fed’s December projections, even though U.S. lawmakers have backed almost $3 trillion in fiscal stimulus since then, including $1.9 trillion that President Joe Biden signed into law on Thursday, which -- together with accelerating vaccinations -- is boosting the economic outlook.‘Powerful Trio’“The Fed is now probing the unknown as a powerful trio of massive fiscal stimulus, monetary support and pent-up demand impact an economy released by the widespread dissemination of vaccines,” economist Lynn Reaser of Point Loma Nazarene University said in a survey response.The Federal Open Market Committee is almost certain to keep rates near zero and pledge to continue its asset purchases at the current $120 billion monthly pace at its second meeting of the year.Powell has repeatedly stressed that the U.S. labor market remains far from the Fed’s goal of full employment, making it too soon to discuss winding down Fed support as the world marks the one-year anniversary of the pandemic.Even so, three-quarters of the economists forecast the central bank will have to raise rates by the end of 2023, where the median respondent has estimated about 50 basis points of tightening. That shift has roiled the outlook for a classic iteration of the reflation wager, a widening gap between 5- and 30-year yields, even as the narrative of a stimulus-fueled recovery has only gained momentum.The key takeaway is that the bet on a steeper curve isn’t kaput because yields are still generally seen as rising further. Ultimately, the Nasdaq 100 lost half of its value.“People should not take solace in the fact that almost everything else besides the tech group is acting well,” said Matt Maley, chief market strategist at Miller Tabak + Co. “If the tech group continues to underperform, it’s going to weigh on the rest of the stock market eventually.”To be sure, as expensive as they may look now, software and internet stocks don’t match the extremes seen 20 years ago. After all, big up days are not uncommon during a downtrend. FIOGC claims it retains a financial stake in the cargo.The U.S. Department of Justice filed a legal case in early February to allow it to seize the oil.FIOGC was established last year to trade petroleum products. In a statement on its website, the bank said it was only informed “very recently” about the insurance lapse at the heart of Greensill’s downfall.The scandal continues to ripple through the bank and has claimed some early casualties. Proprietary trader and author Kathy Donnelly shares insights on how gender differences shape investment styles. - Company on track to submit vadadustat NDA by mid-second quarter 2021 ... vadadustat is approved as ... statements regarding: the timing of submission of an NDA to the FDA for vadadustat … Analysts characterized Fibrogen's description as confusing, but reaffirmed their evaluation that roxadustat will receive FDA approval. He expects the 2- to 10-year spread to keep widening, but has taken profits on steepeners and is looking for a better point to re-enter.Fans PersistSome still see potential in the 5- to 30-year steepener. The 5-year yield at 0.84% isn’t far below its highest level since last year.But the 2-year has remained near historic lows on the view that the Fed will hold rates near zero for the immediate future. Most economists are not looking for a change in March, however.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Investors are again reassessing one of the bond market’s premier reflation trades -- the curve steepener -- as expectations for growth and inflation perk up at a clip that was hard to imagine just a few months ago.Whereas back in December the thought was that the Federal Reserve might tamp down long-term Treasury yields, the issue now lies with shorter-dated ones -- 5-year rates. By contrast, the median in Bloomberg’s December survey had no change in rates until 2024 or later.What Bloomberg’s Economists Say...“While the economic projections will change, we do not expect rate expectations to move much at all. Vadadustat is approved as a treatment for anemia due to chronic kidney disease in both dialysis-dependent and non-dialysis dependent adult patients in Japan, but not yet in the US. Renewable generators, with fewer fixed costs, might be willing to take a lower price for their output than gas-fired power plants.Ultimately the market’s inefficiency will increase costs for consumers as the risk and trader margin will need to be priced in to the cost of supply, said Hewitt.Both exchanges have expressed willingness to synchronize their U.K. auctions and future trading arrangements are expected to see the British market re-connected in some form with the EU. The FDA has sent a last-minute notification of an advisory committee review of FibroGen and AstraZeneca's first-in-class anemia candidate roxadustat, threatening another decision delay. The decision will be key for the real, which policy makers have been propping up through market interventionsInvestors will also watch for updates on fresh emergency cash handouts as the Covid-19 pandemic accelerates and local governments reimpose some restrictionsCentral banks in Russia and Egypt are expected to hold ratesU.S.-China MeetingU.S. “Forging documents like bills of lading and others needed for trades is not that big a problem.”U.S. “Right now, we can support patients with COVID-related ARDS with supplemental oxygen and different forms of ventilation, but don’t yet have effective treatments to protect their lungs and help them get better,” said one of the principal investigators, Dr. Bentley J. Bobrow. That co-operation ended after the Brexit transition period. The billionaire famous for value investing sees no real value in cryptocurrency. Yemen’s Houthi rebels, who are supported by Iran, claimed the assault. “With vadadustat’s first regulatory approval in hand, we continue to expect positive data from the Phase 3 PROTECT program to support vadadustat’s NDA [new drug application] filing around year end 2020, with its FDA approval and market launch around mid-2021 assuming the acquired Priority Review Voucher is utilized” commented Arce. (Photo courtesy of Tesla) See more from BenzingaClick here for options trades from BenzingaVideo Shows Tesla Model 3 Accelerating Away From Attempted CarjackingElon Musk Says Tesla Cybertruck Can Power A Tiny House© 2021 Benzinga.com. Benzinga does not provide investment advice. “The only way to get economic security is to invest in scarce assets that are not going to be debased by the currency expansion. That will mostly depend on how fast Octopus can find good projects and invest the money, said Paul Todd, Nest’s director of investment development and delivery.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Embattled tycoon Sanjeev Gupta’s GFG Alliance owes 7 million pounds ($9.8 million) to an arm of the Scottish government, The Times of London reported.The debt is owed by Liberty Steel Dalzell to Scottish Enterprise, and was first reported in the agency’s accounts for 2016-17. Inflation is seen slightly higher than three months ago, with the unemployment rate falling to 5.0% at year’s end, the same as in the December projections.The FOMC is likely to continue to forecast near-zero rates through 2023, though it’s a close call, with a third of economists surveyed looking for a median Fed projection of higher rates by then.In December, one official penciled in a quarter-point increase during 2022, with five seeing hikes in 2023.“Having a forecast of rising rates seems very unlikely when we are just beginning to discuss how much inflation will move up, for how long, how much the unemployment rate will drop,” said Nathaniel Karp, BBVA chief U.S. economist. Vadadustat (VAFSEO®) is a prolyl hydroxylase inhibitor being developed by Akebia Therapeutics, Inc. (Akebia) for the treatment of anaemia associated with chronic kidney disease (CKD). About two thirds of that investment will go toward assets that are either at the construction stage or already operational. “The Fed has to see it, feel it, not just dream about it.”Rising YieldsA sharp rise in U.S. Treasury yields in the past month as economic-growth forecasts picked up has caught the eye of the central bank. Vadadustat is approved as a treatment for anemia due to chronic kidney disease in both dialysis-dependent and non-dialysis dependent adult patients in Japan, but not yet in the US. When the majority of MicroStrategy’s cash reserves were exhausted, Saylor raised a $650 million corporate bond and used it to buy more.Saylor said he’d rather issue debt against future cash flow now than save up to buy Bitcoin in five years, when he thinks it’ll be pricier.In February, the company raised another $1.05 billion in a bonds-for-Bitcoin offering, and on March 5 it announced yet more purchases. This study is being conducted by The University of Texas Health Science under a U.S. Food and Drug Administration Investigational New Drug (IND) application. (Bloomberg) -- A strong recovery from the Covid-19 recession is likely to prompt Federal Reserve Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.Economists surveyed by Bloomberg News see two quarter-point hikes in 2023. The loan is due to mature at the end of the year.Executives at Credit Suisse also knew early on that a large portion of the assets in the funds were tied to Sanjeev Gupta, a Greensill client whose borrowings were at the center of a 2018 scandal at rival asset manager GAM Holding AG, Bloomberg has reported. He and his fellow executives, without admitting or denying the allegations, paid $11 million to the Securities and Exchange Commission in December 2000, including $1 million in fines.“It’s made us careful and humble and focused,” Saylor said. At higher altitudes, the body responds to lower oxygen availability with stabilization of HIF, which can lead to increased red blood cell production and improved oxygen delivery to tissues. FDA decision on Libtayo for patients with first-line locally advanced or metastatic non-small cell lung cancer with equal to or greater than 50% PD-L1 expression FDA approved the expanded indication for Libtayo on Feb.22, 2021 On Wednesday, a version of the S&P 500 that strips out market cap bias -- treating Apple Inc. the same as News Corp. -- hit an all-time high even as the Nasdaq 100 was roughly 8% below its February record, a divergence not seen in two decades.That’s raising alarms for anyone who lived through the dot-com crash. The tech-heavy Nasdaq tumbled after rebounding more than 6% over the past three sessions as the rising bond yields revived inflation worries and dulled the appeal of high-growth technology shares. at high-altitudes. The chief executive officer is now worth $3 billion, according to the Bloomberg Billionaires Index, joining the ranks of the world’s richest crypto holders, a list that isn’t definitive since some fortunes can’t be identified or verified.MicroStrategy’s crypto fixation began soon after the pandemic hit when the firm found it had a cash-flow problem: There was just too much of it.
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