DAILY DOSE: December 7, 2020
Posted on 12/07/2020
1. German Chancellor Angela Merkel is in talks for tighter measures on COVID-19. Some measures include shuttering retail shops from December 27, 2020 to January 3, 2021.
2. New York Governor Andrew Cuomo plans to close NYC restaurants indoor dining if hospitalization rates do not stabilize in 5 days.
3. U.S. Treasuries extend advance. 10-Year yield to session low at 0.926%.
4. Palantir wins U.S. FDA drug contract worth US$ 44.4 million over 3 years.
5. U.S. Department of Treasury reveals strong support across G7 nations on the need to regulate digital currencies (cryptocurrencies).
Press release from U.S. Department of Treasury, “Today, U.S. Treasury Secretary Steven T. Mnuchin hosted a discussion with Finance Ministers and Central Bank Governors from Canada, France, Germany, Italy, Japan, the United Kingdom, the European Commission, and the Eurogroup. The heads of the IMF, World Bank, and Financial Stability Board also joined the discussion. This is the 12th G7 meeting that the Secretary has chaired this year related to the pandemic response.
The G7 Finance Ministries and Central Banks remain in regular contact and continue to coordinate on timely and effective actions in response to the COVID-19 pandemic. The Ministers and Governors discussed domestic and international economic responses underway and strategies to achieve a robust recovery throughout the global economy. They also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets and national authorities’ work to prevent their use for malign purposes and illicit activities. There is strong support across the G7 on the need to regulate digital currencies. Ministers and Governors reiterated support for the G7 joint statement on digital payments issued in October.
Secretary Mnuchin thanked the group for their dedicated efforts during a year that required rapid, concerted action to respond to an unprecedented global challenge and lay the groundwork for a strong and durable recovery. Secretary Mnuchin also recognized the group’s efforts in support of the Debt Service Suspension Initiative and Common Framework endorsed by the G20 to provide relief for the most vulnerable countries. The G7 Ministers and Governors look forward to further robust engagement during the UK Presidency of the G7 in 2021.”
6. Frasers Group is in talks to acquire Debenhams, the U.K.-based department store retailer.
7. Tesla Inc. shares rally up 6% on day, giving the company a market value of over US$ 600 billion.
8. U.S. President Trump plans to sign executive order on Tuesday to make sure there is priority access for Americans for COVID-19 vaccines.
9. Seattle Mayor Jenny Durkan announced she is not running for re-election. Durkan was mayor when she lost control a portion of Seattle for weeks called Capitol Hill Autonomous Zone – CHAZ. Durkan presided over pressure to cut funding to the Seattle police department.