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Here’s what you need to know before markets open.
1. Global stocks rise as bond yields ease, while UK investors focus on the upcoming budget. Global stocks jumped on Wednesday as bond yields cooled, removing some fears over stock valuations.
2. London eyes major rule changes to cash in on the SPAC boom as Amsterdam targets top spot after Brexit. A major review into the City of London suggested changes so that the UK can welcome more blank-check companies.
3. ‘Big Short’ investor Michael Burry says governments may ‘handicap’ bitcoin – and doubts it can disrupt global finance. The famous investor renewed his bitcoin-skepticism in since-deleted tweets.
4. Barstool Sports founder Dave Portnoy released a video backing a new ETF designed to track Reddit-driven social-media buzz. The famous day trader is getting behind the VanEck Vectors Social Sentiment ETF, set to launch on Thursday.
5. Guggenheim’s Minerd says the 10-year Treasury yield could be negative next year and opposes the consensus view that rates are on an ‘uninterrupted trajectory higher’. Scott Minerd said recessions have traditionally been followed by a trough in interest rates.
6. Earnings expected. Snowflake and Prudential are on Wednesday’s list.
7. On the economics calendar. The UK chancellor will present the government’s budget, and US PMIs will be released.
8. Cathie Wood breaks down why she was ‘very comfortable’ as the stock market got rocked by last week’s bond sell-off. The investing guru shares her outlook for what happens after the tech rout.
9. Hervé van Caloen has quietly beaten 99% of his peers for 2 straight years at a $US35 ($45) million fund manager. He breaks down his self-made strategy, and explains why being at a smaller firm gives him an edge.
10. Investment strategist Luke Lloyd is scouring the market for opportunities following the recent tech sell-off. He shares the stock sector and 4 specific picks that offer the best chance to outperform.