Stocks have been volatile after touching a record in early May as investors assessed economic growth prospects against a Covid-19 resurgence in countries including India. On a monthly basis, shelter prices were the biggest upward contributer due to higher building costs and strong demand for single family homes.The annual consumer price index reading is distorted because the year-ago period used as comparison coincided with broad demand and price declines at the beginning of the Covid-19 pandemic, a phenomenon known as the base effect.What Bloomberg Economics Says...“Until the Bank of Canada sees labor market slack largely closed, and consumer wage and inflation expectations show signs of breaking out of a lengthy drift lower, we think policy makers will move very carefully in the direction of a rate hike.”--Andrew Husby, economistFor the full report, click hereA similar phenomenon also drove inflation higher in the U.S. last month to an annual 4.2% pace. The inflation in Turkey is currently at about 16.2% and this is corroding the lira’s value. (Updates with ECB comments on banks underestimating risk in 10th paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Crypto markets shift from buy, buy, bitcoin to bye, bye bitcoin, in a nanosecond --- and market technicians say that the digital asset may have more room to fall in the near-term as a monthslong bullish trend unravels. Coinbase, the largest cryptocurrency exchange in the US, was briefly worth over $100bn when it debuted on the Nasdaq on Wednesday. Over 200,000 missing out on £1,000s a year in benefits - how to claim, Millions of parents missing out on up to £2,000 a year in tax-free childcare, A million Brits could have benefit payments stopped unless they act now, Tesco to axe Metro store format in big supermarket shake-up affecting 127 shops, ©News Group Newspapers Limited in England No. Cryptocurrency prices have hit record highs in recent weeks thanks to a rise in demand. On a monthly basis, inflation rose 0.5% versus the 0.2% economists were expecting.The annual reading -- the highest since May 2011 -- may raise worries that price pressures could be stronger than predicted by the Bank of Canada, which has been cautioning against over-reacting to an inflation spike it expects will be only transitory. Recent gains in the Canadian dollar also may have dampened inflation pressures.“Base effects and higher commodity prices have done most of the damage, similar to what was seen in the U.S. CPI release last week, although that also had a boost from the US economic reopening,” Simon Harvey, a senior foreign exchange analyst at Monex Canada, said by email.Canada’s dollar fell after the report, trading 0.3% lower at C$1.2101 per U.S. dollar at 9:01 a.m. in Toronto trading. A statement from the bank added that payments could "include elements that may undermine the confidence in methods and instruments used currently in payments.". Bitcoin BTC is currently trading at $60,504.16, down 3.43%, following the Turkish ban, which was opposed by the main opposition group. The great majority of them are located in the city of Istanbul. There is less emphasis on momentum and there’s more emphasis on relative valuation and which of the companies that have the strongest cash flow growth and are investing that cash flow growth.”West Texas Intermediate crude extended declines after the BBC Persian news channel, citing Russian diplomat Mikhail Ulyanov, reported that a major announcement may be made on Wednesday regarding talks to broker an agreement between Iran and the U.S. and revive the 2015 nuclear deal. 1 BTC to TL = 378179.42. Tesla Inc. fell to a two-month low after data showed a slowdown in China sales. Many say that borrowers who exited moratoria have generally kept up with payments.The situation “is totally under control” both for Intesa and other Italian banks, Intesa Chief Executive Officer Carlo Messina, whose bank has about 30 billion euros of loans still under moratoria, said in a Bloomberg TV interview on May 11. “We made an analysis client by client on all clients under moratoria,“ and they have a lot of liquidity in their accounts, he said.The Italian lender saw a 1.5% average default rate across its expired moratoria, according to its first quarter results.Additional relief for banks has been given by European governments in the form of guarantees. “There might be a few participants who are getting a little eager to start the discussion, which might be more than the markets were expecting. Residents of nations going through excessive inflation and fiat foreign money crises, corresponding to Turkey, have turned to bitcoin up to now few years, elevating hopes of widespread adoption throughout the globe. Turkey bans crypto payments citing risks, hits Bitcoin price Güldem Atabay Posted on 16 April, 2021 Turkey’s central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, citing possible “irreparable” damage and significant transaction risks in a move that cooled global bitcoin prices. Turkey, to be specific, has a sufficient level of volume and volatility in the trading of bitcoins that it can prove to be a rewarding business. (Bloomberg) -- Virtual currencies are retreating so broadly and sharply, it’s testing the durability of the cryptocurrency boom.The value of more than 7,000 tokens tracked by CoinGecko has shrunk more than $600 billion in the past week to $1.9 trillion. Digital tokens have also delivered gains so fat that some traders may have been taking profits.The $40,000 mark is a “critical make-or-break pivot level” for Bitcoin and a decline to just below $30,000 isn’t out of the question, Jeffrey Halley, senior market analyst at Oanda, wrote in a note.Here’s a snapshot of the crypto retreat:Market ValueEarly in April, the value of cryptocurrencies breached $2 trillion for the first time, doubling in about two months on optimism institutional investors were increasingly interested. 0. The prices are a result of the 14% plunge of the Turkish Lira. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. It said at the time that funding would support the commercialization of its Hominis robotic-assisted surgical platform in the U.S. and potentially offshore.The Tel Aviv-based company, led by co-founder and Chief Executive Officer Dvir Cohen and Chairman Maurice R. Ferre, in February received de novo marketing authorization for its Hominis system from the U.S. Food and Drug Administration for use in certain types of surgical procedures, including benign hysterectomies. BTC.CM= +2,150.12 (+3.75%) A Bitcoin sign is seen at the entrance of a cryptocurrency exchange office on April 16, 2021 in Istanbul, Turkey. “What appeals to me is that investors are acting like investors again. Bitcoin price drops after Turkey bans cryptocurrencies. Meanwhile, Dodgecoin has soared by 91% in the past 24 hours - but analysts have warned that the "bubble has to burst". Its central bank said the ban is due to the risk of transactions and the danger of "irrepairable" possible damages. Those lower provisions boosted profit figures, and the outlook for dividend payments to investors.Read More: Europe’s Banks Are No Longer as Afraid of Economic Meltdown Borrowers from Germany and the Nordics took less recourse to loan suspensions and most of them have already expired. This push was visible in the peer-to-peer market as the value of Bitcoin surged in the country to $100,000. States stood behind almost 350 billion euros of loans as of the end of last year, according to a survey by the EBA, shifting some or all of the default risk from banks to taxpayers. An advert for a bitcoin exchange Coinfloor was banned last month for telling savers cryptocurrencies are a safe investment. Which Bitcoin Stock Is a More Compelling Buy? Searches for Bitcoin emanating from Turkey exploded after news broke regarding the 14% plunge in the value of the Turkish lira. When the EU launched the securities last year, Europe was still firmly in the throes of lockdowns, the ECB was committed to pumping money into debt markets and investor demand for the securities was enormous. )More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Stocks drop on lingering inflation scare. Turkey Bans Crypto as Form of Payment; Bitcoin Price Drops Last month, the lira plunged after Turkish president Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the nation’s central banker—the third central bank chief in two years—for raising interest rates as a way to control inflation. briefly worth over $100bn when it debuted on the Nasdaq on Wednesday, UBS explains why you don’t need crypto in your portfolio, Coinbase Closes at a Record Low After Wild Bitcoin Session, Outlook for mask mandates for unvaccinated, U.S. Stocks Mixed; Yields Rise on Fed Minutes: Markets Wrap, Fed Officials Signal Open to Taper Talk at ‘Upcoming Meetings’, Robotics Firm Memic Is in Talks to Go Public Via SPAC, London's 'Golden Age' as Europe's financial capital is over, says NatWest chair, Canadian Consumer Prices Climb at Fastest Pace in a Decade, China Reiterates Crypto Bans From 2013 and 2017, Crypto Tumble Wipes $600 Billion Off Digital Tokens in a Week, EU’s Prelude to Landmark Recovery Bond Sales Ends With a Whimper, Risk-Off: Sour Sentiment on Wall Street May Have Added to Bitcoin’s Plunge, ‘Big Short’ investor Michael Burry makes bearish bet on Tesla, Intesa, UniCredit Head for Reckoning as Loan Holidays End, Bitcoin’s 40% crash ‘does feel like capitulation,’ says crypto specialist, but here’s where the next crucial support level stands, As bitcoin and dogecoin plummet, college students and graduates insist they’re going long on crypto, Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered, Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000, Stocks Fall for Second Day on Inflation Worries: Markets Wrap, Low mortgage rates spark raging demand for refinances, report says, Unemployed last year? Bitcoin, the largest cryptocurrency, slid some 11% Wednesday to break below $40,000 and is now about $25,000 off its record high set in April.Multiple factors are at play, ranging from criticism of the environmental impact of Bitcoin’s energy usage by onetime proponent Elon Musk, to the risk of a regulatory squeeze on what some have called the Wild West of investing.

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