When Bill McDermott lost an eye in a freak accident three years ago, he returned to work as soon as he could. The tech-heavy Nasdaq tumbled after rebounding more than 6% over the past three sessions as the rising bond yields revived inflation worries and dulled the appeal of high-growth technology shares. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Mortgage rates rose for a 4th consecutive week ahead of a yield spike on Friday. All Rights Reserved. The 54-year-old CEO was walking down stairs at night carrying a glass of water in his left hand when he slipped and landed on the tumbler. For Brazil, they contribute to a more challenging environment that’s likely to force a rate hike -- despite a raging virus and risks to growth.”--Tom Orlik, chief economistElsewhere, ECB President Christine Lagarde speaks to European Union lawmakers and and China gets its first set of hard data this year.Click here for what happened last week and below is our wrap of what is coming up in the global economy.U.S. The government then gave a three-year loan to cover the cost of restarting the Dalzell mill, The Times reported.A spokesman for Scottish Enterprise told The Times it was in talks for the loan repayment. SAP CEO Bill McDermott talks about how he takes obstacles and turns them to his advantage during the talk Monday in Tempe. Bill McDermott fell while visiting family in the United States over the July 4 holiday weekend and landed on a splinter of glass. Having suffered a fall that cost him his left eye in July 2015, the bill stayed till September to return to the office. Companies are increasingly getting access to both exchanges to take advantage of the arbitrage opportunity.Price differences have been widest on days when Britain is short of power supplies -- such as when wind generation is low or there are unplanned outages at power stations.The reason for the price gaps comes down to the different companies using the exchanges and the type of generation in their portfolio. Mr. McDermott fell down stairs in early July at his brother's home in the U.S. and a water glass he was holding hit his left eye, according to the company. Make pandemic relief work for you when you file your taxes. “The only way to get economic security is to invest in scarce assets that are not going to be debased by the currency expansion. The blue-chip Dow powered to its fifth consecutive record high on Friday and the S&P 500 closed slightly higher as investors bought shares that should benefit from a strong reopening of the U.S. economy, an outlook signaled by rising yields in the bond market. And I just remember bein' alone. But they also expect the U.S. central bank’s own forecast, released at the same time as its policy statement at 2 p.m. in Washington on Wednesday, will show the median Fed official projecting rates staying on hold near zero throughout that year.Such a result would match the Fed’s December projections, even though U.S. lawmakers have backed almost $3 trillion in fiscal stimulus since then, including $1.9 trillion that President Joe Biden signed into law on Thursday, which -- together with accelerating vaccinations -- is boosting the economic outlook.‘Powerful Trio’“The Fed is now probing the unknown as a powerful trio of massive fiscal stimulus, monetary support and pent-up demand impact an economy released by the widespread dissemination of vaccines,” economist Lynn Reaser of Point Loma Nazarene University said in a survey response.The Federal Open Market Committee is almost certain to keep rates near zero and pledge to continue its asset purchases at the current $120 billion monthly pace at its second meeting of the year.Powell has repeatedly stressed that the U.S. labor market remains far from the Fed’s goal of full employment, making it too soon to discuss winding down Fed support as the world marks the one-year anniversary of the pandemic.Even so, three-quarters of the economists forecast the central bank will have to raise rates by the end of 2023, where the median respondent has estimated about 50 basis points of tightening. For most of Europe, trading is linked up in one big marketplace, a project that has taken 15 years and which the U.K. is now excluded from.Nord Pool’s U.K. market has gained new members since Brexit, which it attributes more to its dominance in the day-ahead market and “not specifically related to spreads between the two auctions,” said Emma McKiernan, the director of Nordic, Baltic, U.K. and Ireland at Nord Pool.Epex has also seen a surge in trading since the beginning of the year in its markets, including the U.K. where the number of participants is the highest ever.“The growing activity is partly due to arbitrage, but mainly a shift in the structure of the electricity trading sector itself,” Epex said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- A strong recovery from the Covid-19 recession is likely to prompt Federal Reserve Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.Economists surveyed by Bloomberg News see two quarter-point hikes in 2023. The direction of the USD/JPY into the close will be determined by trader reaction to 108.787. On Oct. 22, 2019—several days before he started but was known to be on his way in—ServiceNow’s … Yields on that maturity have become unmoored in recent weeks, surging amid speculation that the central bank will need to start a cycle of rate hikes perhaps a full year earlier than officials have indicated. They will exit separately. Associate Editor. “People said, ‘That must have built a lot of character in you.’ Senior members of the establishment.”Raise DebtSaylor’s appetite to acquire Bitcoin didn’t stop after the company’s first purchase. Wall Street economists’ focus will be on the central bank’s quarterly forecasts, including whether the panel includes an initial rate hike in the 2023 projections, in response to a pickup in the outlook for growth.A strong recovery from the Covid-19 recession is likely to prompt Fed Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.In terms of upcoming economic data, investors will be watching for the latest reading on retail sales, industrial production, housing starts and weekly jobless claims to gauge the strength of the recovery as more states drop restrictions on activity and vaccines are deployed more widely.For more, read Bloomberg Economics’ full Week Ahead for the U.S.Europe, Middle East, AfricaAside from the BOE decision, investors watching the U.K. may take notice of changes to the list statisticians use to gauge living costs on Monday, with pandemic-related changes to Britons’ lifestyle expected to be reflected in the updated basket of goods and services.ECB President Lagarde will speak to EU lawmakers in Brussels on Thursday, a week after her institution pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the euro area’s economic recovery.The week also sees a flurry of rate decisions elsewhere across the region, with central banks in the Norway and Egypt expected to stay on hold.The Bank of Russia is also forecast to keep its monetary settings unchanged, but officials are pivoting from a string of cuts aimed at stimulating the economy through the pandemic last year to a tightening stance as inflation surges. The chief of German software maker SAP, Bill McDermott, said in a media report Thursday he lost an eye in an accident but would be back at his desk at headquarters next month. “The market is definitely playing a game of chicken with the Fed, by testing how high yields can get before tightening financial conditions and forcing the Fed to step in.”WHAT TO WATCHEconomic calendar:March 15: Empire manufacturing; Treasury International Capital flowsMarch 16: import/export prices; retail sales; industrial production; business inventories; NAHB housing market indexMarch 17: MBA mortgage applications; building permits; housing starts; FOMC decisionMarch 18: jobless claims; Philadelphia Fed business outlook; Langer consumer comfort; leading indexFed calendar:March 17: FOMC decision; Powell press conferenceAuction schedule:March 15: 13-, 26-week billsMarch 16: 42-day cash-management bills; 20-year bondsMarch 18: 4-, 8-week bills; 10-year TIPSFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Central bankers from Washington to Tokyo will this week confront the enthusiasm of investors betting on a return of inflation, delivering policy responses ranging from cautious tolerance to interest-rate increases.For many such officials, the three-day frenzy of meetings starting on Wednesday is the first scheduled opportunity to act since a global rout in government debt markets took hold in February, fueled by speculation of a pickup in prices after the coronavirus crisis abates.The U.S. Federal Reserve’s decision will be the most significant among at least 11 monetary announcements due around the world. In 2015, he was visiting his father on his 76th birthday. “Forging documents like bills of lading and others needed for trades is not that big a problem.”U.S. It’s a federation of seven emirates including Fujairah, though Abu Dhabi is the capital and holds the most sway politically. The billionaire famous for value investing sees no real value in cryptocurrency. Read in: 4 minutes Favorite quote from the author: Bill is expected in Germany next month where he will meet customers and employees. He was in surgery for more than nine hours the night of his accident, and had "11 or 12 surgeries by the time it was all done," he said. A long operation saved his eye, but in the end doctors had to remove it due to an infection, SAP said. He said such a thing "can happen to anyone" and that the lesson is that "it's important to stand back up again, if you fall down. Bourla became chief executive in January 2019, and added the Chairman title in January 2020. (Bloomberg) -- It’s the latest corporate strategy for companies from Tesla Inc. to Square Inc.: shift a portion of cash reserves into cryptocurrencies as digital assets become more mainstream.Still, few have gone as far as MicroStrategy Inc. A GFG spokesperson declined to comment. “Every scar informs you, and I wouldn’t be who I am without having lived through those experiences.”Steady RevenueSaylor has continued to run the analytics software business he founded in 1989, and has overseen annual revenue streams of around $500 million for the last decade, though sales have dipped in recent years.Bitcoin’s price has soared in recent months, hitting a record above $58,000 last month as big investors pile in and the asset class matures.Saylor shrugs off concern about Bitcoin’s volatility and said crypto critics are behind the curve. In swaptions, a position has emerged targeting the Fed to hike seven to eight times by March 2025, according to a Barclays analysis.And while shorting Treasuries has been in vogue, “it’s possible the market may have gotten a little ahead of itself in the belly,” causing the 5-year rate to rise too much, said Jamie Anderson, head of U.S. trading for Insight Investment, which manages about $1 trillion.If the data come in weak or the Fed is on hold for longer than expected, “the belly should rally and the curve re-steepen,” he said.For Incapital’s Leary, the narrowing in the 5s30s gap came on the view that officials may discuss -- or even announce -- a twist next week. Saylor, 56, turned his attention to Bitcoin.“People still aren’t sure: Are we crazy or are we not crazy?” Saylor said. In 2015, McDermott lost an eye and endured nearly a dozen surgeries after falling down the stairs. Bill McDermott fell while visiting family in the United States over the July 4 holiday weekend and landed on a splinter of glass. (Bloomberg) -- Traders have found a new way to make money in the U.K. electricity market since the country left the European Union.Since Brexit, the price of short-term U.K. power is being set on two exchanges at different times, allowing traders to exploit any deviation between the results. Bill McDermott, CEO of SAP at the World Economic Forum in Davos, Switzerland. "Basically, I wake up from the fall down the stairs. "I think I'm the most brave under pressure. SAP launched a Blockchain-as-a-Service product last month, available to clients in the SAP Cloud. By contrast, the median in Bloomberg’s December survey had no change in rates until 2024 or later.What Bloomberg’s Economists Say...“While the economic projections will change, we do not expect rate expectations to move much at all. The main buyers are refiners in China.Washington alleges that Iran’s Islamic Revolutionary Guard Corps and the IRGC-Quds Force -- both classified as terrorist organizations by the U.S. -- covertly shipped the oil abroad, relying on ship-to-ship transfers and falsified documents. The dollar rose on Friday following a fresh spike in Treasury yields as the prospect of economies emerging from year-long coronavirus lockdowns reignited inflation fears. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Sign up for free newsletters and get more CNBC delivered to your inbox. I lost the, that particular battle. Complicating the picture further are the travel restrictions imposed ahead of the Lunar New Year break in February, which curbed consumption but allowed factories to resume production earlier than usual.The BOJ is expected to unveil an array of tweaks to its policy framework while keeping its main settings on hold following a review of its measures on Friday. The chief executive officer is now worth $3 billion, according to the Bloomberg Billionaires Index, joining the ranks of the world’s richest crypto holders, a list that isn’t definitive since some fortunes can’t be identified or verified.MicroStrategy’s crypto fixation began soon after the pandemic hit when the firm found it had a cash-flow problem: There was just too much of it. Unfortunately, we have recently learned that as a result of the injury, Bill lost his left eye. Ravi Velloor. He laid there unconscious and "almost bled to death," SAP cofounder and chairman Hasso Plattner told German publication Wirtschafts Woche. It’s part of a growing wave of investment by institutional investors into renewable energy assets.“The energy transition will require a huge amount of capital over the next 20, 30 years as more and more governments commit to net zero targets,” Alex Brierley, co-head of Octopus Renewables said in an interview. But I won a bigger one.". Bitcoin, the world's biggest cryptocurrency, on Saturday crossed a record high of $60,000. It may also give larger players that own multiple power stations too much market power, according to Rajiv Gogna, a partner at Lane Clark and Peacock LLP.“Larger portfolios will possess more information not visible to the market and have the collateral to operate on both auctions, giving them the theoretical ability to price arbitrage in some situations,” Gogna said.For about a decade, U.K. prices for whole-day and hourly power contracts have been settled jointly through auctions on Nord Pool Spot AS in Oslo and Paris-based Epex Spot SE. In July 2015, McDermott suffered from a fall that cost him his left eye, but he returned to SAP headquarters in October of that same year. McDermott was walking down the stairs at his brother's house in July 2015, holding a glass of water. NOW WATCH: This eye exam can identify depression risk in young kids, A former Microsoft employee is suing over sex discrimination, This Man Beat Poverty, Cancer, And Fleas To Lead A $21 Billion Company, Yale professor on Carly Fiorina's business record: She 'destroyed half the wealth of her investors yet still earned almost $100 million'. You've got to find a way to get up. In July, SAP informed employees that CEO Bill McDermott sustained an injury at a relative’s house. Data is a real-time snapshot *Data is delayed at least 15 minutes. "Primary dealers are shedding bonds because this exemption might not get renewed at the end of March," Bregar said. “Who were the last people to embrace this? McDermott said he slipped this summer in the United States on carpeted stairs with a glass of water in his hand in an accident that left a shard of glass embedded in his left eye. That’s kept bets on the widely watched spread to the 10-year rate in play, as well as versus other maturities, such as the 5- and 7-year.“Some steepeners are better than others,” said Patrick Leary, senior trader and chief market strategist for Incapital. I was knocked unconscious. “When you put your money in a bank, the value of it doesn’t go up or down by 10% a day.”Saylor has clashed with investors before. SAP CEO Bill McDermott lost an eye after falling down the stairs while carrying a glass at his brother's home in July 2015. So I don't get rattled by the chaos. Bill’s wife suffered breast cancer for … Follow CNBC International on Twitter and Facebook. For the Fed and Bank of England, slightly higher yields can be tolerated as an early sign of recovery. A long operation saved his eye, but in … U.S. energy firms cut the number of oil and natural gas rigs operating for the first time since November even as crude prices soared to their highest since 2018. Proprietary trader and author Kathy Donnelly shares insights on how gender differences shape investment styles. Bill McDermott is stepping down as chief executive at SAP after a decade building it into the world’s leading enterprise software company. He's been working through his recovery and is expected return to SAP's headquarters in Germany when doctors to allow him to fly in October. He worked his way out of poverty and up the ranks to run the SAP one of the world's largest software companies. One-eyed corporate mogul William “Bill” McDermott achieved tech legend status as SAP’s longtime CEO. This backdrop only intensifies the focus on the Fed’s March 16-17 meeting, officials’ next chance to counter speculation that tightening will begin as soon as late next year.“The Fed next week will have to walk a fine line between either pushing back against market expectations or allowing them to stand,” said Kevin Walter, co-head of global Treasuries trading for Barclays Plc.Without Fed pushback, he said, “there might be more pressure on the belly of the curve,” in which case the best steepeners would be the spreads between 2-year yields versus 5- and 7-year rates that have room to rise as traders price in tightening.2022 ViewThe swaps market is reflecting a roughly 75% chance the Fed lifts rates from near zero by around the end of 2022. In 2000, a shareholder filed a class-action lawsuit against MicroStrategy, alleging it misled investors over the company’s earnings by booking revenue prematurely to inflate profits.MicroStrategy agreed to restate its revenue figures and Saylor, once dubbed the wealthiest man in Washington, D.C., with a fortune of $7 billion, lost almost all of it in a matter of weeks after shares fell 95%. Top US chief exec lost an eye - then he gained 'vision' Bill McDermott rebounded every time he was dealt life blows, and now leads a workflow revolution. When the majority of MicroStrategy’s cash reserves were exhausted, Saylor raised a $650 million corporate bond and used it to buy more.Saylor said he’d rather issue debt against future cash flow now than save up to buy Bitcoin in five years, when he thinks it’ll be pricier.In February, the company raised another $1.05 billion in a bonds-for-Bitcoin offering, and on March 5 it announced yet more purchases.
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