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Source: WSJ The European Central Bank is giving its banks incentives in the firm of liquidity pools to boost lending to cash-strapped businesses. DAX is up +0.11%, EURUSD is up +0.09%. Fig: Borrowings by ECB Banks Through the 2014 liquidity boosts known as targeted longer-term refinancing operations or TLTROs, ECB aims to boost lending to tackle a credit crunch … [Read more...] about Euro Banks Take Advantage of ECBs TLTROs, Amid Prolonged Negative Rates Warnings

Source: Markets Insider Central banks of four countries — Australia, Malaysia, Singapore, and South Africa — have agreed on a joint trial of central bank digital currencies capable of cross-border transactions. The partnership includes the Bank of International Settlements Innovation Hub and the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of … [Read more...] about Four Countries Make Pact to Test Cross-Border CBDC Transactions

Source: WSJ India’s GDP grew 20.1% in the quarter ended June from the previous year to mark a rebound from the Covid-19 driven recession of about 24% last year. BSE Sensex is up + 0.9%, USDINR is up +0.07%  India’s economic activities picked up from June when Covid-19 cases dropped to below 50,000 per day.Consumer confidence also went up by 1.4% in June after … [Read more...] about India Recorded a 20.1% YoY Growth Last Quarter on a Recovery From Covid-19

Source: Bloomberg Pimco co-founder, who was once a bond king, has equated them to an “investment garbage” that is similar to cash.  US 10-year Treasury yield is 1.296%. Gross says long-term yields on Treasuries are low, equating funds that buy them to an “investment garbage can.”The investor says ten-year yields would likely rise to 2% in the next 12 months, from … [Read more...] about Investors Likely to Lose on Cash and Bonds. Those are “Investment Garbage” – Pimco Co-Founder