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25th May 2021 Morning Report

Tuesday 25th May 2021

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Both the S&P 500 and Nasdaq jumped more than 1% due to U.S. Treasury yields retreated, as investors were less fearful of the inflationary outlook and the pace of the economic recovery.

Bitcoin and digital-currency exchanges continue to be being roiled by China’s actions to restrain cryptocurrency trading and mining.  The Federal governor Lael Brainard said on Monday that growing digital currency options could lead to a "fragmentation" of settlement systems which poses financial risks for households and businesses. She said the Fed needed to address significant policy questions as it develops the digital version of the U.S. dollar. 

Iron ore prices fell after China warns of excessive speculation in commodities. It is becoming increasingly concerned over record commodity prices fuelling rising inflation.

Morning Report 25 May 2021

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