Weekly Market Reviews
Hello traders, here's the weekly market reviews for August 23-29, 2019. Visit finacebrokerage.com for more market updates. Happy weekends everyone!.....#Hasbro #PeppaPig #toycompany #Yield #China #DonaldTrump #JohnsonandJohnson #Kiwi #NZD #NewZealandDollar #AUD #AustralianDollarPosted by Finance Brokerage on Friday, August 30, 2019
Weekly News Summary for August 23-29, 2019
Friday, August 23: Shares in eOne Surpasses Hasbro Acquisition Offer
Shares in Hasbro slipped on Friday after the US toymaker announced its plans to acquire Entertainment One (eOne), owner of the children’s animated series Peppa Pig, for about $4 billion.
Hasbro shed 6%, following the announcement, while eOne gained more than 30% to a record high on Friday, climbing past the price agreed by its board with the toy company.
Monday, August 26: 10-year Bond Yield Drops to Lowest since July 2016
US Treasury yields dropped to register a three-year low on Monday, as the lack of confirmation from China, regarding President Donald Trump’s claims on trade talks, prompted investors to opt for safe-haven assets.
The 10-year bond yield was down to 1.45%, its lowest since July 2016, while focus stayed on the spread with the 2-year yield, which still remained above the 10-year.
Tuesday, August 27: J&J Charged with $572M Fine in Opioid Case
An Oklahoma judge has required Johnson & Johnson (J&J) to pay $572.1 million for its alleged involvement in increasing the state’s opioid addiction issue.
Shares of J&J rose 2% in pre-market trade, following the court ruling, as the fine ended lower than the expected $1.5 billion to $2 billion fine.
Wednesday, August 28: US 30-year Treasury Yields Post New Record Low
The US 30-year Treasury yields posted a new record low on Wednesday, as fears of fallout due to the global trade dispute increased.
The 30-year yield slipped to a record low of 1.906%, while the yield curve inverts further, as the premium on 2-year yields over 10-year yields added 6.2 basis points, a level not seen since 2007.
Thursday, August 29: Gloomy Business Confidence Index Sends Kiwi Down
The New Zealand dollar hit a 4-year low on Thursday after data showed the ANZ Business Confidence indicator declined to -52.3 this month, the weakest level since April 2008.
The kiwi shed 0.4% to 0.6309 against the greenback, following the survey results, which also weighed on the Australian dollar, falling 0.1% to 0.6728 against its US counterpart.
Read more: Weekly News Summary for August 16-22, 2019
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