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    Daily Digest 1/12 – 10-year Treasury yield climbs to highest level since March, Tesla’s $25,000 Car May Hit The Market Sooner Than Planned

    by Daily Digest

    Tuesday, January 12, 2021, 1:48 PM

Economy

US to require negative COVID-19 test for all international travelers: report

All international airline passengers coming into the U.S. will be required by the government to show proof of a negative COVID-19 test result before taking flights to the country, a new report suggests.

The U.S. Centers for Disease Control and Prevention is slated to issue an order Tuesday, sources familiar with the matter told the Wall Street Journal. The order would probit anyone from flying into the country without a negative COVID-19 test result. The new regulation would go into effect on Jan. 26, sources told the Journal.

In the remaining days of his administration, President Trump is rushing to put into effect a raft of new regulations and executive orders that are intended to put his stamp on business, trade and the economy.

Previous presidents in their final term have used the period between the election and the inauguration to take last-minute actions to extend and seal their agendas. Some of the changes are clearly aimed at making it harder, at least for a time, for the next administration to pursue its goals.

10-year Treasury yield climbs to highest level since March

The U.S. 10-year Treasury yield rallied to a nearly 10-month high Tuesday as investors worried that stimulus measures to combat the economic slowdown caused by COVID-19 could unleash a wave of inflation down the road.

The benchmark 10-year yield climbed as many as 5.5 basis points Tuesday to a high of 1.187%, a level last seen on Mar. 19, the same day California became the first U.S. state to issue stay-at-home orders slowing the spread of COVID-19. The two-year yield, meanwhile, remained anchored near zero, touching 0.153%.

Casino mogul and political donor Sheldon Adelson dead at 87

Billionaire casino magnate Sheldon Adelson, whose gambling and hotel businesses turned him into a major political power broker in the US and Israel, has died.

The founder of the Las Vegas Sands casino company, Mr Adelson was known for his support of conservative causes and Israel.

Bitcoin Rebounds While Leaving Everyone in Dark on True Worth

Bitcoin rebounded after Monday’s steep plunge left investors grasping for clues about what lies ahead for the world’s largest cryptocurrency.

The digital coin rose 4.9% to $35,616 as of 11:30 a.m. in London, following yesterday’s 11% slide. The latest bout of roller-coaster volatility recalls past boom and bust cycles including the 2017 bubble, and has investors debating whether this is a healthy correction or the end of the latest bull run for cryptocurrencies.

Trump administration reverses stance, will no longer hold back second shots of coronavirus vaccine

The Trump administration will announce sweeping changes to its vaccination rollout on Tuesday, including making many more doses of the coronavirus vaccine available and urging states to provide shots to anyone 65 and older. The steps are an effort to speed up a delayed and disjointed rollout.

The changes are a sharp departure from the administration’s previous strategy, and they come just days after President-elect Joe Biden announced plans to release nearly all the vaccine supply. Biden is expected to provide a detailed blueprint on reinvigorating the rollout later this week.

Energy

Tesla’s $25,000 Car May Hit The Market Sooner Than Planned

Tesla may be closer to producing the US$25,000 electric vehicle sooner than the market thought, according to media reports. At Tesla’s Battery Day in September 2020, Elon Musk said that the EV maker would produce a US$25,000 vehicle, probably in three years.

According to documents in Chinese about the Gigafactory Shanghai shared on Twitter by Tesla fans, the Tesla “Model 25k” could be coming out of China as soon as 2022. The previous assumption was that so cheap a Tesla would hit the market in 2024-2025, according to Tesla Facts.

Environment

A palm oil alternative could help save rainforests

There’s an ugly truth to the beauty products we slap on our faces and an unsavoury truth to the foods we eat: many are made with palm oil, which is responsible for the rapid deforestation of some of the world’s most biodiverse forests, destroying the habitat of already endangered species like the orangutan, pygmy elephant and Sumatran rhino.

But now the biotech industry says it has come up with a solution – a synthetic alternative that doesn’t involve burning down or clearing any rainforest. It says this could eventually replace natural palm oil in everything from shampoos, soaps, detergents and lipsticks, to food products like packaged bread, biscuits, margarine, ice cream and chocolate.

Gold & Silver

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Provided daily by the Peak Prosperity Gold & Silver Group

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