11th June 2021 Morning Report

The three major U.S. Stocks advanced, with the S&P 500 recording a record high as economic data seemed to support the Federal Reserve’s view that the latest inflation level will be temporary. However, the economically sensitive transports and smallcaps closed in negative territory. 

The financial sector was the biggest loser, due to the easing of U.S. Treasury yields.  United States 10-year bond yields broke below 1.5% for the first time since early March.

Global banking regulators led by the Basel Committee on Banking Supervision representing financial regulators from leading economies is proposing a new conservative prudential treatment for crypto-assets to avoid these currencies putting the wider financial system at risk. This would force banks to make provision of enough capital to cover 100% of potential losses, making it the highest capital requirement of any asset.

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