The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna. AstraZeneca and Moderna did not immediately respond to requests for comment. AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added.
(Bloomberg) -- Australia’s central bank signaled it will not shirk from its yield target and quantitative easing programs designed to hold down borrowing costs and keep a lid on the currency. Yet, the bond market is proving resistant.Reserve Bank Governor Philip Lowe and his board are likely to focus Tuesday’s meeting on their response to a global reflation trade that’s proving a major challenge for central banks. Australia shifted to the forefront of the market action as a commodity powerhouse with a rapidly recovering economy, a combination that saw the currency up around 80 U.S. cents.The RBA is expected to maintain its broad settings: a key interest rate and three-year bond yield target at 0.10% and a A$100 billion ($77.3 billion) QE program for longer-dated securities. It surprised last month by announcing a second round of QE when the current tranche expires in mid-April. It could tweak its buying plans tomorrow.“Markets will be looking for a firm response to the extreme bond market volatility,” said Su-Lin Ong, head of Australian economic and fixed-income strategy at Royal Bank of Canada. “At a minimum, we would expect a step up in yield-curve control for the next couple of weeks, possibly including more purchases on non QE operation days.”The RBA -- following a more than two-month hiatus in defending its yield target -- re-entered the market last Monday with a A$1 billion buy that failed to leave a dent. It followed up Thursday with A$3 billion and when yields still pushed higher, executed a further A$3 billion Friday.Bond markets are pricing in accelerating inflation on expectations of a rapid global economic recovery that will leave central banks unable to maintain loose settings. Policy makers have pushed back, with Jerome Powell signaling the Federal Reserve was nowhere near close to pulling back support for the U.S. economy.But with trillions of dollars sloshing around economies courtesy of central bank infusions plus vast fiscal programs, amid vaccination roll out, rising price pressure may be on the horizon.Australia is facing further pressures as a commodity powerhouse with iron ore, its largest export, surging through $170 a ton last week, approaching records set more than a decade ago during China’s construction frenzy.What Bloomberg Economics Says...“While sizable, the RBA’s purchases are missing the mark when it comes to containing key 3-year yield benchmarks. We think the lift in the 3-year futures yields increases the risk the RBA redirects as much as A$5-6 billion of purchases towards the November 2024 bond over coming weeks.”-- James McIntyre, economistFor the full note, click here.Australia has recovered rapidly from the virus due to its success in limiting Covid-19’s spread to isolated flare-ups. Household and business confidence are strong, boosting activity and hiring, with the jobless rate falling to 6.4% in January from a pandemic peak of 7.5%.The housing market is rapidly recovering and saw the largest monthly price gain in 17 years, a report released Monday showed. House prices in capital cities rose 2% in February, led by Sydney and Melbourne.Gross domestic product probably surged 2.3% in the final three months of last year from the prior quarter, economists estimate ahead of data Wednesday. It likely fell 2% from a year earlier, with GDP not expected to return to pre-pandemic levels until mid-year.(Updates with house prices in penultimate paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Luka Garza had 24 points and 11 rebounds as No. 9 Iowa bounced back from a midweek loss to take down No. 4 Ohio State 73-57 on Sunday. Dominated by No. 3 Michigan 79-57 on Thursday, the Hawkeyes pulled away in the second half. Joe Weiskamp added 19, including 5-for-9 shooting from 3-point range, for Iowa (18-7, 12-6 Big Ten).
Further to the announcement on 12th January 2021 by BPH Energy Limited's (ASX:BPH) (BPH or the Company) whereby investee Advent Energy has signed a Preliminary Well Services Agreement with Add Energy relating to the preparation for drilling of the Baleen well in offshore licence PEP11.
The idea that Trump actually won the election was treated as dogma at the conservative gathering.
Netflix’s rom-com series Emily in Paris is one of the most controversial nominees of the year
Two women have come forward with allegations of harassment
Remember getting dressed?From Marie Claire
Ex-president called transgender women athletes ‘biological males’
CPAC: pent-up Trump denounces Biden at rightwing summit . Ex-president repeats false claims that he won 2020 election and floats possible run in 2024 in speech
Hermilo Jazmines was playing golf at the East Lake Woodlands Country Club where authorities found him deceased in the pond
"Pull up, show up and get this issue resolved," Ellen wrote in an open letter.
"I can’t believe you got me so good."
The remarks marked the first time former President Donald Trump has appeared in public since Jan. 20.
PGA champion Collin Morikawa shook off an early mistake and played a steady hand on a Concession golf course known for calamity, closing with a 3-under 69 for a three-shot victory in the Workday Championship. Morikawa picked up a few short-game tips from major champions — Mark O'Meara on his putting, Concession member Paul Azinger on the chipping — and he says it carried him to another big win. “We don't say ‘Thank you’ enough,” Morikawa said, referring to how much Woods has raised the profile and prize money in golf.
Ellis Genge receives death threats after not clapping Wales into tunnel
The senators said the state’s attorney general, Letitia James, should be given authority to conduct a “a transparent and thorough investigation.”
"I literally have dreams about this dress."
England Rugby has called for "true rugby fans to stand with us" after players were abused online in the wake of Saturday's Six Nations defeat to Wales in Cardiff. England prop Ellis Genge revealed he had been subjected to death threats after footage surfaced of him apparently neglecting to clap the victorious Welsh players off the pitch following the match. Genge wrote: "Don't know why I'm not clapping in that tunnel, must be deep in thought - utmost respect for the Welsh, as for keyboard warriors sending death threats etc..."
Three cases of new variant identified in England and three in Scotland