Steep stock rally lives another day as shorts give up

NEW YORK: GameStop Corp had the biggest day yet of its dizzying rally, adding more than US$10bil in market value, as bullish day traders kept the upper hand over short sellers.

Fed still in crisis-fighting mode as recovery appears to moderate

WASHINGTON: The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.

insight - Powell, with year to run at Fed, aims to avoid past QE mistake

Fed set to look beyond possible post-pandemic inflation shock

Vexed central banks brace for more damage to growth

FRANKFURT: Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against the hope that mass vaccinations will reopen economies.

Ringgit may test psychological level of 4.00 against US dollar

PETALING JAYA: The ringgit may test the psychological level of 4.00 against the US dollar next week amid anticipation that Bank Negara would maintain the overnight policy rate at 1.75% at its meeting on Wednesday.

Price stability is key priority for China’s central bank

BEIJING: China’s inflation is likely to see moderate growth this year, but a consistent pickup is unlikely, given the constrained consumption of services, a senior central bank official said.

Treasury Pulse - Forex Market, Treasuries, Bonds, ringgit, equity

THE dollar found support from expectations of a continued economic recovery in the United States amid countries in Europe resorting to lockdowns to fend off a second Covid-19 wave; and expectations of higher government spending under the Biden administration – after a plunge in payrolls in December raised the prospect of more federal spending to aid the coronavirus-battered economy.

South Korea, Thailand lead Asia losses as US aid delivery in question

BENGALURU: South Korea and Thailand led Asia's emerging stock markets lower on Friday, as investors looked to the implementation of the $1.9 trillion of U.S. fiscal stimulus, while Taiwan's dollar advanced even as the central bank tried to rein it in.

Reflation flashes red for Indonesia, Malaysia debt

THE reflation trade has been gathering momentum again in recent weeks as shown by rising U.S. Treasury yields and increasing inflation expectations.