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Cidel - Weekly Update

Weekly markets: Equities · S&P 500: +1.23% · Nasdaq: -1.51% · Russell 2000: +0.23% · Stoxx Europe: +1.72% · Nikkei 225: +1.89% · Hang Seng: -0.40% · Shanghai Composite: -0.81% Treasury · U.S. 10-year treasury declined to 1.577% · Germany 10-year treasury at -0.212% · U.K. 10-year treasury at 0.776% · Japan 10-year treasury at 0.085% Commodities · Oil rose, Brent crude at $64.82 and WTI at $68.27 · Gold rose to $1832 · Copper held at $4.54/lb Consumer Demand Drove U.S. Imports to Record High in March The foreign-trade gap in goods and services expanded 5.6% from the prior month to a seasonally adjusted $74.4 billion in March, the Commerce Department said Tuesday. Imports rose 6.3% to $274.5 billion for the month, fueled by higher shipments of items including toys, furniture, cellphones and automobiles. Exports rose 6.6% to $200 billion in March, following a one-month decline in February, as manufacturers continued to face supply-chain disruptions. Yellen comments on Interest Rates Treasury Secretary Janet Yellen said Tuesday that it is possible the Federal Reserve may have to raise interest rates to keep the economy from overheating if the Biden administration’s spending plans are enacted. “It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat, even though the additional spending is relatively small relative to the size of the economy,” she said in a pre-recorded interview at the Atlantic’s Future Economy Summit. Then she said she is neither predicting nor recommending that the Federal Reserve raise interest rates, walking back her earlier comments. Health Canada approves Pfizer-BioNTech’s COVID-19 vaccine for children as young as 12 Health Canada says the Pfizer-BioNTech vaccine can now be given to kids as young as 12. Health Canada’s chief medical adviser Dr. Supriya Sharma says the evidence is there that the vaccine is safe and effective in that age group. Canada’s labor recovery sees setback Canada’s economy lost a net 207,000 workers last month, undoing some of the 303,000 gain in March, Statistics Canada said Friday. The unemployment rate rose to 8.1 per cent from 7.5 per cent. All told, Canada has recovered about 83 per cent of its pandemic job losses. Retail shed 84,000 jobs, hospitality lost 59,000 positions and culture and recreation fell by 26,000. Young people between the ages of 15 and 24 accounted for nearly half of the job losses in April. U.S. employment U.S. employers added a modest 266,000 jobs in April, far short of the 1 million expected among economists, and unemployment rose to 6.1%. The leisure and hospitality sector, including restaurants, accounted for the bulk of employment creation in April, adding 331,000 jobs. Those gains were partly offset by job losses in several other sectors. Temporary-help employment declined by 111,000 last month, manufacturing employment was down 18,000—predominately in motor vehicles where chip shortages idled some factories. Retail jobs fell by 15,000 and healthcare jobs declined by 4,000. Berkshire Hathaway CEO succession Berkshire Hathaway Inc.’s Chief Executive Warren Buffett is to be succeeded as CEO by vice chairman Greg Abel. Mr. Abel, a 59-year-old Canadian, isn’t expected to take the role immediately. He currently heads all non-insurance operations at Berkshire. 上周市场: 股市 · 标普500:+ 1.23% · 纳斯达克:-1.51% · 罗素2000:+ 0.23% · 欧洲斯托克(Stoxx Europe):+ 1.72% · 日经225:+ 1.89% · 恒生:-0.40% · 上证综合指数:-0.81% 国债 · 美国十年期国债跌至1.577% · 德国10年期国库券利率为-0.212% · 英国10年期国债利率0.776% · 日本10年期国债利率为0.085% 大宗商品 · 油价上涨,布伦特原油期货报每桶64.82美元,WTI原油期货报每桶68.27美元 · 黄金涨至1832美元 · 铜价维持在$ 4.54 /磅 消费者需求推动美国3月进口量创历史新高 美国商务部周二表示,3月份商品和服务的外贸缺口比前一个月扩大了5.6%,经季节性因素调整后为744亿美元。进口增长6.3%,至2,745亿美元,这归功于玩具,家具,手机和汽车等物品的高出货量。由于制造商继续面临供应链中断,继2月份下降了一个月之后,3月份出口增长了6.6%,至2000亿美元。 耶伦评论利率 财政部长耶伦(Janet Yellen)周二表示,如果拜登(Biden)政府的支出计划得以制定,美联储(Fed)可能不得不加息,以防止经济过热。她在为大西洋未来经济峰会预录的采访中说:“尽管额外支出相对于经济规模而言相对较小,但可能必须提高利率以确保我们的经济不会过热。”之后她说,她既没有预测也没有建议美联储加息,貌似推翻了她先前的评论。 加拿大卫生部批准了辉瑞BioNTech的新冠疫苗可以给12岁以上的儿童使用 加拿大卫生部表示,现在可以给年龄最小至12岁的孩子接种辉瑞-BioNTech疫苗。加拿大卫生部首席医学顾问Supriya Sharma博士说,有证据表明,该疫苗在该年龄段是安全且有效的。 加拿大的就业市场复苏遭遇挫折 加拿大统计局周五表示,上个月加拿大经济净减少了207,000名岗位,部分抵消了3月份增加的303,000个岗位。失业率从7.5%升至8.1%。总体而言,加拿大已挽回了约83%的疫情造成的就业损失。零售业减少了84,000个工作岗位,酒店业失去了59,000个职位,文化和娱乐活动减少了26,000个。 15岁至24岁的年轻人占4月份失业人数的近一半。 美国就业数据 美国雇主在4月增加了26.6万个工作岗位,远低于经济学家预期的100万个工作岗位,失业率升至6.1%。包括饭店在内的休闲和酒店业占4月份创造就业机会的大部分,增加了33.1万个工作岗位。这些收益被其他几个部门的工作损失所部分抵消。上个月,临时工的就业人数减少了111,000,制造业的就业人数减少了18,000。零售工作减少了15,000,医疗保健工作减少了4,000。 伯克希尔·哈撒韦(Berkshire Hathaway)首席执行官继任 伯克希尔·哈撒韦公司(Berkshire Hathaway Inc.)首席执行官沃伦·巴菲特(Warren Buffett)将由副董事长格雷格·阿贝尔(Greg Abel)接任首席执行官。预计现年59岁的加拿大人亚伯(Abel)不会立即担任该职位。他目前负责伯克希尔哈撒韦的所有非保险业务。

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