Another Chinese city launches a digital currency test — this time it’s much larger at $6 million

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.  Jason Lee | Reuters BEIJING — The southwestern Chinese city of Chengdu announced Tuesday it will hand out roughly $6 million in the latest test of the central bank’s digital currency. The scale of […]

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Commentary: The Fed has a simple tool it can deploy to curb market speculation

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg via Getty Images Many of the indicators of stock market euphoria are flashing bright red signals as the market barrels ahead to uncharted new heights. There are many tools in the financial toolbox to […]

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BlackRock bond expert explains where not to put your money right now

A sign for BlackRock Inc hangs above their building in New York. Lucas Jackson | Reuters In light of the pace of Covid-19 vaccine rollouts and potentially hefty fiscal stimulus in the U.S., the BlackRock Investment Institute is opting for a more risk-on approach in 2021. The U.S. investment house on Monday announced that it […]

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European banks have been resilient during the Covid crisis, but still face 2 major challenges

People wearing face masks walks in Frankfurt am Main, western Germany, as the European Central Bank headquarter can be seen in the background. YANN SCHREIBER LONDON — European banks have seemingly weathered the coronavirus crisis well, but there are still some major challenges ahead that have the potential to rattle the sector. There’s been a […]

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This hedge fund manager is telling investors to prepare for higher inflation ahead

The George Washington Statue at the Federal Hall National Memorial on Wall Street across the New York Stock Exchange on January 27, 2021. Timothy A. Clary | AFP | Getty Images The Covid pandemic helped accelerate several important trends that will have important investing impacts in 2021, according to Thomas Friedberger, who runs the Paris-based […]

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Rise in Treasury yields prompts speculation of a ‘tantrum’ for markets

Traders work on the floor of the New York Stock Exchange. NYSE The recent rise in bond yields and U.S. inflation expectations has some investors wary that a repeat of the 2013 “taper tantrum” could be on the horizon. The benchmark U.S. 10-year Treasury note climbed above 1.3% for the first time since February 2020 […]

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China’s digital yuan needs to beat Alipay, WeChat Pay before challenging dollar, researcher says

China’s digital yuan will need to dethrone the country’s domestic e-payments giants first, before it can think of competing against the greenback internationally, says the Peterson Institute for International Economics’ Martin Chorzempa. “A lot of people talk about (the digital yuan) being a driver of renminbi internationalization,” Chorzempa, senior fellow at PIIE, told CNBC’s “Street […]

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Bitcoin poses no threat to the dollar as the world’s currency leader, Fed’s Bullard says

St. Louis Federal Reserve President James Bullard told CNBC on Tuesday he believes that increasing interest in bitcoin does not pose a serious threat to the U.S. dollar as the world’s reserve currency. “I just think for Fed policy, it’s going to be a dollar economy as far as the eye can see — a […]

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