LONDON : Risks of a new COVID hit to economic activity are clobbering expectations for rate hikes next year from the world's major central banks, a potential setback for the dollar and other currencies where wagers had been most aggressive.
Those shifts come after the detection of a new coronavirus variant in South Africa triggered stricter border controls from several governments, as scientists sought to determine if the mutation was vaccine-resistant. In an echo of the panic that swept markets when COVID was spreading early last year, oil prices slid over 6per cent on Friday, travel industry shares notched up falls of 6per cent or more and two-year U.S. Treasury yields fell 12 bps in their biggest daily drop since March 2020.
Positioning on yen, Swiss franc and euro meanwhile has been bearish, reflecting the view policy tightening is distant for those countries. The sharp yield drop on 2-year Treasury notes - a bond segment particularly sensitive to interest rate changes - pushed its yield premium over Germany 10 bps lower.
The new variant may also complicate the task for central banks if it worsens the supply chain delays that are partly blamed for stoking inflation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
France plans new COVID measures but wants to avoid new lockdownPARIS (Reuters) -France will announce new COVID-19 containment measures on Thursday as infection rates surge nationwide, but does not plan a new lockdown like some other European Union countries. Government spokesman Gabriel Attal said on Wednesday that the government wants to avoid major curbs on public life, preferring stricter social distancing, speeding up its vaccination booster campaign and tightening rules on using health passes. 'We must protect the French people by building on what we have, to save the end-of-year festivities and get through the winter as well as possible,' Attal told a news conference.
Source: YahooSG - 🏆 3. / 71 Read more »
Singapore reports 1,090 new COVID-19 cases and 3 deaths; ICU utilisation rate at 54.2%SINGAPORE: Singapore reported 1,090 new COVID-19 cases and three deaths linked to the coronavirus as of noon on Friday (Nov 26). The fatalities were aged between 69 and 83. All of them had various underlying medical conditions. The Ministry of Health (MOH) did not specify what these conditions we Variant coming
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
EU moves to halt air travel from places with new COVID variantThe European Union might halt air travel from places where a new coronavirus variant detected in South Africa had spread, the bloc's executive said ahead of a meeting later on Friday of the 27 member states' envoys to decide the matter. Global authorities reacted with alarm on Friday to the new variant, with the EU and Britain among those tightening border controls as scientists sought to find out if the mutation was vaccine-resistant. 'The Commission will propose, in close coordination with Member States, to activate the emergency brake to stop air travel from the southern African region due to the variant of concern B.1.1.529,' said the executive's head, Ursula von der Leyen.
Source: YahooSG - 🏆 3. / 71 Read more »
2-month low of 1,090 new COVID cases in Singapore; 3 deathsFriday marks the lowest number of daily infections since 20 Sept, when there were 917 new cases. It is also the second day in a row to record less than 2,000 new cases.
Source: YahooSG - 🏆 3. / 71 Read more »
WHO cautions against travel curbs over new Covid-19 variantWho trust WHO. Remember WHO was late to call Covid19 a pandemic? Right …let’s all stand by and watch a repeat of early 2020 shall we? Shall we wait till after China’s olympics starting in 8 weeks 😏 WHO DrTedros Any African countries going to winter 2022? Please give your support and participation to it
Source: TODAYonline - 🏆 1. / 99 Read more »
Fears over new Covid variant hit Asian markets, oil prices
Source: TODAYonline - 🏆 1. / 99 Read more »