Salesforce has made consistent progress during the past year, gaining favor among institutional investors, who own 88% of shares, writes technical analyst Lucas Downey. The stock has breached a 52-week high, generally outperforms the market and has attracted two buy signals this year, making prospects exceptionally positive.
Plans to replace the London Interbank Offered Rate with a new benchmark after 2021 are running into obstacles, particularly regarding products that mature after 2021, including bonds, swaps, business loans and mortgages, experts say.
First-time claims for US jobless benefits declined by 7,000 last week to a seasonally adjusted 222,000, close to a 45-year low, according to the Labor Department. The unemployment rate is 4.1%, the lowest figure in 17 years.
UK ministers have agreed on policy for divergence from the EU after weeks of reported dissension within the Cabinet. However, it is thought their proposal -- the UK makes its own rules but retains trade links with the EU -- will be seen as inconsistent, lacking in detail and therefore unacceptable by EU negotiators.
The eurozone must move forward with a fiscal union because sharing risk is the only way to manage fiscal shocks initiated by problems in one country that private markets can't handle, according a paper by the International Monetary Fund. Rather than encouraging irresponsible borrowing and spending, a fiscal union could be structured in a way that strengthens fiscal discipline and forces structural reform, the paper says.
European Central Bank policymakers, worried about weak inflation data, were careful not to change their policy message at a meeting last month, fearing anything otherwise would be seen as a move toward higher interest rates, minutes show. They argued it was too early to signal tightening of monetary policy.
Yield-hungry investors are bolstering debt markets in sub-Saharan Africa as political risk in the region eases and interest rates remain high.
Some approved publication arrangements, including Tradeweb Markets and Bloomberg, that are used to meet transparency requirements under Europe's revised Markets in Financial Instruments Directive are not meeting the spirit of the law, says MiFID II parliamentary rapporteur Markus Ferber. At issue are formats for pretrade and post-trade data that are not machine readable.
EU lawmakers say they will work to prevent turmoil with the US and the UK regarding derivatives trading. Lawmakers plan to preserve EU derivatives-market cooperation with US regulators and to establish criteria for determining whether derivatives clearing in London must move to the EU after Brexit.
A main change in Europe's revised Markets in Financial Instruments Directive -- limiting the amount that can be invested in commodity markets -- has prompted concerns among market participants. Regulators have set limits too low, so they do not reflect market realities and cause reluctance to trade on open venues, market participants say.
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