CubeWrap - Crispy & Crunchy Financial News

Your All American Breakfast 🥞

Inflation Is On The Rise In The US

• US medium-term inflation rate expectations have risen to 2.5%.
  A similar figure was last seen during the 2007-08 financial crisis.
  (Source: Financial Times) 
  

The S&P 500 Took A Dive 

• The S&P 500 ended Thursday sharply lower at 3,768.47. (Source: Market Watch) 
• News stories are attributing the drop to Federal Reserve Chair Jerome Powell’s failure to reassure investors that surging bond yields and inflation expectations would be checked. (Source: CNBC)

• However, the S&P 500 rallied to end the week at 3,841.94. (Source: Market Watch) 
  

Square Inc. Has Started A bank

• Square Inc. has launched ‘Square Financial Services’, their very own industrial banking operation.
  
• It will primarily offer business loans and deposit products (current account; deposit account, etc).
  
• Fun Fact: Square Financial Services Chief Risk Officer Sharad Bhasker is an Indian born, Anna University & Rutgers University graduate.
  (Source: Yahoo Finance)
  

Your Mid Day Snack 🍟

Dogecoin May ACTUALLY Become Useful!

• Dogecoin owners will soon be able to use the cryptocurrency to pay for NBA team Dallas Mavericks’ game tickets and merchandise.
  
• Billionaire Mark Cuban owned Mavericks have struck a deal with BitPay, a crypto payment services provider.
  (Source: Dallas Mavs)
  

Your Desi Lunch Thali 🍛

NSE Glitch May Be Costly

• Financial minister Nirmala Sitharaman was quoted saying the NSE glitch will be costly for everyone involved and that India must look to build a seamless digital payments system. (Source: TOI)
  
• The NSE has experienced a major glitch on 24th February 2021. Investors couldn’t buy or sell stocks for almost 4 hours. 
  

The Rupee Gains Muscle

• The INR ended Wednesday at 72.72 against the USD. The 65 paise increase is the biggest single-day gain seen since September 2020. (Source: Business Standard)
  
• News sources attribute the drop in the value of the USD to the surging bond yields and inflation concerns. (Source: Business Standard)
  
• Analysts see potential in the INR due to healthy FPIs and growing financial concerns in the US. (Source: Moneycontrol)
  

Healthy FPI Influx In Banking And Financial Sectors

• FPIs in the banking and financial sector hit $1.96 billion in February. FPI assets in the sector grew to 34.8% in February from 33.8% in January 2021.
  
• The surge in FPIs led to a brief but promising upturn in the Nifty Bank index. 
  (Source: Business Standard)

Your Evening Snack 🍇 🍉 🍍 🍎

Petrol & Diesel Prices May Reduce In The Future

• The Finance Ministry is considering cutting taxes on petrol & diesel. It has initiated discussions with the oil ministry, oil companies, and certain states for this purpose. (Source: India Today)
  
• Oil prices in India breached the ₹100-mark in certain states towards the end of February. (Source: Livemint)
  

Italy Raises €8.5bn In Its First Green Bonds Issuance

• Italy may just have become Europe’s largest issuer of Green Bonds. The money raised via Green Bonds may help fund renewable energy projects and refinancing existing projects.
  (Source: Bloomberg)
  

The UK Plans To Issue More Green Bonds Than Italy

• The UK is looking to boost the government’s green initiatives with a proposed £15 billion worth of Green Bonds.
  
• New stories suggest the UK’s first issuance of Green Bonds looks set to beat Italy’s Green Gilts order book as of now. 
• Proposed Green Bonds may help fight climate change and create environment-friendly jobs.
  (Source: Evening Standard)

That’s all folks! Go back to your coffee ☕while our app Cubes your wealth 😃