Daily Archive: November 23, 2020

Stocks and futures jump on AstraZeneca’s vaccine breakthrough. Here are the big winners

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Good morning. It’s a Monday, which means a fresh batch of COVID vaccine news jolting the markets. This time it comes from team Britain—AstraZeneca and Oxford University. Their latest trials show impressive results, or so the markets believe. Stocks in Asia and Europe are up, and U.S. futures are in the green.

The vaccine can’t come soon enough. The U.S. COVID numbers are frightening (but that’s hardly stopping travelers from getting onto planes to see grandma).

Let’s check in on the action.

Markets update

Asia

  • The major Asia indexes are mixed in afternoon trading with Japan’s Nikkei down 0.4% and the Shanghai Composite up 1.1%.
  • The Trump Administration has drawn up a list of 89 companies, mostly in aerospace, that would
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ECB’s Schnabel flags role of shadow banks in passing on policy By Reuters

© Reuters. 29th Frankfurt European Banking Congress (EBC) takes place in Frankfurt

FRANKFURT (Reuters) – The European Central Bank should keep a close watch on the growing role played by shadow banks in passing on the ECB’s policy to money markets, as many of those firms do not have access to central bank cash, ECB board member Isabel Schnabel said on Monday.

“Unlike banks, these market participants often do not have access to central bank operations,” Schnabel said.

“Were the transmission across money market rates to weaken, or rates to decouple from policy intentions, this could have implications for monetary policy implementation in the future,” she said.

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