“There’s just mountains of cash sitting on the sidelines, waiting to be put to work and since we’ve got this vaccine news, as well as diminished risk around the U.S. elections, all of this is flying into equities,” said Kyle Rodda, analyst at IG Markets. “Everyone’s thinking now that it’s the cue to get in.”

In first for Fed, U.S. central bank says climate poses stability risks

Nov 14, 2020

“Acute hazards, such as storms, floods, or wildfires, may cause investors to update their perceptions of the value of real or financial assets suddenly,” Fed Governor Lael Brainard said in comments attached to the report, released Monday.

“Chronic hazards, such as slow increases in mean temperatures or sea levels, or a gradual change in investor sentiment about those risks, introduce the possibility of abrupt tipping points or significant swings in sentiment,” Brainard said.

G20 agrees debt framework to help poor countries hit by COVID

Nov 14, 2020

The COVID-19 pandemic is straining the finances of some developing countries and the G20 ministers said on Friday that they recognised that more would need to be done to help them than a current temporary debt freeze, which will be extended until June 30, 2021.

Bank of England warns insurers risk unexpected COVID losses

Nov 14, 2020

“Our work has highlighted that a number of firms have not been able to accurately identify and track COVID exposed policies, leading to unexpected COVID losses,” the BoE said in a letter to insurers.

“Firms should ensure that this uncertainty is reflected in the reserve estimates and that, where possible, appropriate procedures are put in place to identify and track exposed policies.”

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