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Indian cenbank cheers bond market despite keeping rates on hold

October 9, 2020

By Swati Bhat

MUMBAI, Oct 9 (Reuters) – The Reserve Bank of India assured bond markets on Friday that it stands ready to take whatever measures are necessary to ensure adequate liquidity in the banking system, sparking a sharp rally.

The RBI said it will conduct on-tap long-term repo operations, open market purchases of bonds and special open market operations (S-OMOs), and also provide the increased held-to-maturity limit to banks until March 2022 versus March 2021.

“For the bond market, this is like an early Diwali and just as the March policy (decision) was termed a bazooka, there is enough today to light up some fireworks,” said Arvind Chari, head of fixed income and alternatives at Quantum Advisors, referring to the Hindu festival of lights which falls next month.

The benchmark 10-year bond yield IN057730G=CC dropped as much as 10 basis points to 5.92% on Friday. The measures were

Keeping Money at Home Can Be Costly for Investors

October 9, 2020

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(Bloomberg Opinion) — Most investors don’t typically get the opportunity to emulate the strategies of the world’s biggest asset managers. The recent announcement that the Norwegian sovereign wealth fund, the world’s biggest with $1.1 trillion, wants to increase its allocation to North American stocks should be a wake-up call for equity holders who ignore overseas shares — with investors from one nation in particular needing to pay attention.

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The tendency for investors to allocate too much of their capital in their home markets is called domestic bias and is a well-known phenomenon. For U.K. investors who’ve stuck with indigenous equities in recent years, this proclivity has cost them dearly.

The U.K. investment industry manages about 8.5 trillion pounds ($11 trillion), more than three-quarters of which is on behalf of local customers, according to figures compiled by the Investment Association, a trade body. For the past five years, the

San Francisco movie theaters can reopen — but concessions ban keeping them closed

October 8, 2020

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Fox News’ Dr. Marc Siegel on the coronavirus vaccine development and how it’s impacting the entertainment industry.

Despite being given the OK to reopen their doors, San Francisco movie theaters will remain closed.

In a statement to The Hollywood Reporter, the California and Nevada chapter of the National Association of Theatre Owners (NATO CV/NV) said San Francisco theaters have elected to remain closed due to a ban on the sale of concessions.

Additionally, limits on seating capacity also are a concern for theaters in the area, one of the nation’s largest moviegoing markets.

“While NATO of CA/NV and its members are grateful that San Francisco city officials are reopening theaters in the city, their proposed solution makes it economically impossible for our members to reopen and significantly limits the moviegoing experience for our audiences,” the chapter said in a statement.

FILMMAKERS APPEAL TO CONGRESS TO SAVE MOVIE THEATERS

San Francisco

Keeping it clean: U.S. ethanol producers invest in sanitizer for long haul

October 8, 2020

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By Stephanie Kelly

NEW YORK, Oct 8 (Reuters) – Red River Biorefinery in Grand Forks, North Dakota, came online in April, arguably the worst time for an ethanol facility to begin operating as the coronavirus pandemic sank fuel demand.

Instead of shutting like many ethanol facilities, the company switched focus from producing fuel ethanol to making high-grade alcohol for hand sanitizer, where demand surged during the pandemic as Americans scrambled to protect themselves against the coronavirus.

Red River and several other companies now view the hand sanitizer market as more than a temporary salve for weak fuel demand, making permanent investments in production of high-grade alcohol that meets standards for producing sanitizer.

In recent months Pacific Ethanol PEIX.O, Green Plains GPRE.O and Highwater Ethanol HEOL.PK have said they will boost capacity for high-grade alcohol.

“Our intent when we first went live was to be purely in the fuel

2 reasons I’m keeping my high-yield savings account despite rate drops

October 5, 2020

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Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Since the start of 2020, interest rates have fallen dramatically, but high-yield savings accounts are still very useful.
High-yield savings accounts pay well above the average interest rate and are insured by the US government.
I’m keeping my emergency fund and other savings in a high-yield savings account indefinitely.
See Business Insider’s picks for the best high-yield savings accounts »

High-yield savings accounts don’t pay the same high yields they did a year ago, but they’re still an ideal way to save for many people. I have used high-yield savings accounts since starting my first job after college, and a swing in interest rates isn’t going to scare me away.

Cross-Currents Are Keeping Traders In Check For Now (Technically Speaking For 9/30)

September 30, 2020

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The ADP jobs report was strong (emphasis added):

Private sector employment increased by 749,000 jobs from August to September according to the September ADP National Employment Report.

Also from the report:

The best news is that growth is spread over a number of industries.

And, it’s the strongest total in the last three months:

This bodes well for Friday’s jobs report.

Chinese manufacturing is back (emphasis added):

The headline seasonally adjusted Purchasing Managers’ Index – a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy – edged down from 53.1 in August to 53.0 in September, to signal a further solid improvement in the health of the sector. Operating conditions have now strengthened in each of the past five months. Notably, the latest reading rounded off the best quarterly performance since Q4 2010.

Chinese manufacturers recorded a sharp and accelerated increase in total new

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