Monday morning briefing: Unemployment rising

Posted by extadmin - February 8, 2021 - Categories: Marketing

The Canadian government announced an agreement with Novavax Inc. to start production of its COVID-19 vaccine at a facility in Montreal. That production, however, is not expected to begin until later this year, with Novavax still completing clinical trials and its production facility in Montreal still being built.

Economic/industry news

The U.S. unemployment rate falls to 6.3% in January: US economy adds 49,000 jobs in January – a grim sign for the jobs recovery

Canada’s unemployment rate increases to 9.4% in January: Canada loses 213,000 jobs in January, unemployment rate jumps to 9.4%

The European economy contracts in Q4: Euro zone economy contracted by 6.8% in 2020 on COVID lockdown shock

Unpacking the GameStop story: How GameStop and an army of Reddit traders exposed the riskiest market in decades

Viewing the recovery differently: Policymakers can’t just use GDP to chart recovery: Frances Donald

ESG and alternative investments missing from retirement plans: Few retirement plans offer alts in target date funds: Study

Reasons for hope

Date night: Nurses create dinner date for “inseparable” couple battling COVID-19 in separate hospital units

Bringing production to Montreal: With Novavax deal, Canada could be producing COVID-19 vaccine domestically by the fall

Trying to safely reopen workplaces: Air Canada, Rogers and Suncor part of consortium piloting rapid COVID-19 testing

Adapting your business

People looking for help to meet their financial goals: COVID driving Americans to save more, seek financial advice

Working from home is contributing to more older Americans staying at their jobs longer: More older Americans stay on the job. Working from home helps

Andy Jassy will become the new CEO of Amazon: Why Andy Jassy’s appointment signals that cloud, not e-commerce, is Amazon’s future

Chart of the week: Unemployment rising

After rising for seven straight months following the initial lockdowns introduced last spring, the Canadian economy lost jobs for a second consecutive month. It was down 213,000 jobs in January and 53,000 jobs in December. The unemployment rate rose markedly, from 8.8% to 9.4%. New lockdowns spurred on by rising COVID-19 cases resulted in a large number of job losses across services industries. What impact will the rise in unemployment have on the economy? Spending and real estate are two areas that could be impacted. Let us know what you think.
Used with permission of Bloomberg Finance L.P.

News and notes (U.S.)

Where Dixon Boardman is finding opportunities for hedge funds in 2021: “Hedge funds are back”: Veteran investor Dixon Boardman sees “compelling opportunities” across three key strategy areas

Fink believes we are moving toward customized indexes that align with values: BlackRock’s Fink: ‘Tectonic shift’ in passive investing is coming

The rising popularity of continuation funds: Continuation funds: How GPs are holding on for longer

Investors are looking for more ESG options in private equity: The pressure is on private equity to take ESG seriously

Fidelity launches four new active ETFs: Fidelity to launch Magellan ETF, 3 more active funds this week

News and notes (Canada)

Dynamic launches new liquid alternative fund: Dynamic adds income-focused alt fund to shelf

Some businesses thrived in 2020: 2020 not the worst year for all businesses, survey finds

New course to teach reps about alternative mutual funds: IFSE Institute launches new qualifying course for alt funds

Equity ETFs attract the most flows in January: ETF sales start the year strong

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