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Day: November 20, 2020

JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge

Volunteers from women’s organization Nuevo Amanecer Mujer Integral help with the distribution of frozen turkeys and food boxes ahead of Thanksgiving to families affected by the Covid-19 pandemic on November 18, 2020 in Los Angeles, California. Frederic J. Brown | AFP | Getty Images JPMorgan economists now see an economic contraction in the first quarter …

JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surgeRead More

Yen’s Path Versus Dollar Defies Recovery Trend, May Cause Headache for Policymakers

The Japanese yen has been on a steady downtrend against most of its major peers since March when it exploded higher during the virus-induced financial turmoil. Although only the euro and the Australian dollar have managed to erase their year-to-date losses, the gap for the remaining currencies isn’t too great. The pound is down about …

Yen’s Path Versus Dollar Defies Recovery Trend, May Cause Headache for PolicymakersRead More

Big banks take baby steps toward commercializing blockchain

LONDON — A few years back, blockchain was the talk of the financial services industry. Several large banks were testing the technology, lured by the promise of improving some of the sector’s oldest processes. This year, investors could be forgiven for wondering where blockchain went. After much hype in 2017, as the value of cryptocurrencies …

Big banks take baby steps toward commercializing blockchainRead More

Evans says Fed programs are important backstop, disappointed by Treasury’s move to stop some funding

Chicago Federal Reserve President Charles Evans expressed disappointment Friday in the Treasury Department’s decision to end several lending programs implemented during the coronavirus pandemic. Speaking a day after Treasury Secretary Steven Mnuchin said the programs would not continue past their end-of-year deadline, Evans told CNBC that the facilities provide an important function. “I think our …

Evans says Fed programs are important backstop, disappointed by Treasury’s move to stop some fundingRead More

WTI Oil Outlook: Oil Price Maintains Bullish Bias But Negative Impact From New Wave Of Virus Limits Gains

WTI oil price jumps above $42 on Friday, focusing November’s peak at $43.03. Overall sentiment remains positive as the contract is on track for the third consecutive weekly gain, although the upside attempts remain limited on oversupply, demand concerns over surge in coronavirus cases and renewed lockdowns. On the other side, hopes for effective Covid-19 …

WTI Oil Outlook: Oil Price Maintains Bullish Bias But Negative Impact From New Wave Of Virus Limits GainsRead More

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