Zuckerberg Could Not Buy TikTok So He Wants to Ban It
China banned Facebook in 2009, instantaneously eliminating 700 million users from the platform. Mark Zuckerberg was unwilling to give up a piece of his social media empire without a fight. [...]
The market seems happy that the JPY trades comfortable north of 110 as we saw a small 0.5% gain in the Nikkei today. Hang Seng performed better closing up over 1%. with Shanghai also closing near its highs. A quiet session to close the week but at least on a positive note.
A quiet but very positive play in Europe also today. The stand-out performance were from FTSE and CAC both closing up 1.7% while DAX and IBEX returned 1.15% a piece. Unfortunately, GBP lost around 1% against the USD today which negates some of the FTSE gains.
A quiet day in the US markets also but after the losses we saw earlier in the week a small rebound was very welcome. We closed way off the days best and in a quiet session but it has been a week many are happy to see the back of. The DOW and S+P closed up around 0.3% whilst the NASDAQ closed up over 1% higher. The VIX came off its highs closing this evening at 15.2.
A quiet day also in Treasuries after the early sell-off we closed a smidgen higher (price, lower yield), with the curve small flattening. 2’s closed the session at 0.88% while 10’s closed 1.84% (-2bp); closing the 2/10 curve at +96bp. German 10yr Bund closed 0.165% (-1bp) ending the US/German 10yr spread at +167.5bp. Italy 10yr closed 1.47% (-2bp), Greece 7.31% (-1bp), Turkey 10.03% (+1bp), Portugal 3.08% (+2bp) and Gilts closed 1.45% (+1p).
Makes you think when you are writing a market comment when the yield for a 10yr government bond is 1.45% yet the currency lost 1% in todays session!