Fostering positive change through investments: Generali leverages its role as a key global institutional investor and asset manager to apply strict ESG (Environmental, Social and Governance) criteria to the Group’s investments.
The better than expected pace of job creation (+4.8m vs. +3m cons.) brought the unemployment rate back to 11.1%. Employment gains were particularly strong in sectors that reopened as restrictions were lifted. However, data collection took place before the new outburst of COVID in several states.
Higher frequency indicators like weekly jobless claims and daily mobility point to a slowdown in job creation. Recent evidence of another wave of cases in several large states points to downside risk.
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US EMPLOYMENT POWERS AHEAD IN JUNE, BUT NEW COVID OUTBREAKS CAST RECOVERY DOUBTS
BioNTech and Pfizer raised their Covid-19 vaccine production target for this year to 2.5 billion doses. A WHO-China study on the origins of Covid-19 says that transmission of the virus from bats to humans through another animal is the most likely scenario and that a lab leak is “extremely unlikely”.
The Topix had a strong start into the year, outperforming both the S&P500 and the MSCI EMU. Since March 17th this strong performance slowed down, in part due to a pause in the rotation into Value and Cyclicals which had negative spillovers into Topix.
US EMPLOYMENT POWERS AHEAD IN JUNE, BUT NEW COVID OUTBREAKS CAST RECOVERY DOUBTS
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