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Both Democrats appear to have won the Georgia Senate seats in yesterday's poll, and this roiled US markets into worrying about inflation. The 10-year treasury bond yield rose to over 1% for the first time since last March.

Apart from the votes, new data on jobless levels also frightened the market. Private payrolls fell to 123,000 in December, more than double the forecast by economists, as larger companies suspended workers in food and lodging services, trade, transport, utilities, undefined service sectors, and (surprise, surprise) the information sector. Smaller firms with only 50 to 499 employees added hires, as did firms in education and healthcare.

Spiteful Trump followers are forcing Congress examination of supposed frauds in Arizona voting. The NYSE is once again considering barring the 3 Chinese telcos with military links, despite reversing on Monday's decision yesterday.

Under no circumstances is one to buy China Telecom (CHA) and China Mobile (CHL), which each gained 9% before the open Tuesday, or China Unicom (CHU) of Hong Kong, which gained 12%. This effects their ADRs, but they can still trade OTC. Alipay is also in Trump's bad list. Given the risks of US inflation, today's blog will focus on safe yields after we report today's news.

Healthcare

Teva (TEVA) rose decisively today in London, up 3.33%. Britons are no longer able to buy European stocks there, and are looking to companies from further away. Compugen (CGEN) gained 3.1% to hit $13.08.

Glaxo (GSK), a FTSE 100 share, gained 2.52% and 2.12% here, helped by a presentation at Morgan Stanley's ESG (Environmental, Social, and Governance) conference. The FTSE 100 index rose 3.2%. Zymeworks (ZYME) gained 2.61%.

Japanese Takeda (TAK) gained 0.28% on yen strength. TAK is back to end-2020 levels at last. Fellow Japanese Eisai (ESALY) gained 0.34% to hit $70.57. ESALY partnered with Biogen (BIIB) on an Alzheimer's drug.

Chinese-Caribbean Beigene (BGNE) gained ~1%. Spanish (Catalan) Grifols (GRFS) rose 0.85%. GRFS is an antibody producer. AbCellera (ABCL) hit a new 52-week low after falling 3.22% to $36.82. It is now $38.13, down only 1%. It was given hold and buy ratings on Tuesday after the quiet period ended, and it has not traded for 52 weeks. It found a neutralizing antibody versus COVID-19, which is being trialed in New Mexico.

Value Line again rates Thermo-Fisher (TMO) a strong buy, and it is my largest single US holding.

Oil and Mining

Energy Fuels (UUUU) has lagged because it is doing an “at-the-market” supplemental issue of shares to raise $35 million without an underwriter. Its program started Monday. Marketmakers then made bearish comments and warned that it might take 10 days to complete the issue. Our UUUU cost is at $4.26 (US), and I am not buying more of the Canadian miner.

Azure Power Global, AZRE, hit $51.54, up 9.8%. It sells solar power to India from Mauritius. Schlumberger Ltd. (SLB) gained 4.11% in European markets, not only because of oil price hopes, but because of US inflation risks to shale drilling. Here, SLB is up 7.2%. Royal Dutch Shell B (RDS-B) gained 4.98% and BP plc (BP) gained 5.2%.

Gold is volatile along with gold stocks. But Johnson Matthey (JMPLY), refiner and seller of platinum group metals, is up 5.2%. JMPLY is another quick way out of the UK. Antofagasta, ANGGF of Chile, whose primary listing is in London, gained 3.7% to $21.45 today.

Ormat (ORA), a Nevada thermal energy supplier, is up another 8.9% despite being downgraded to neutral from overweight by JPMorgan. ORA has gained 15% YTD. China Solar, CSIQ, gained 6.52% today on hopes for carbon cuts under Biden.

Tech and Tele

BCE of Canada is my first yield play for 2021, and luckily after rising at the opening it fell back from $44.17 (US) to $43.93-4. Its yield is a delicious 5.92% now and it was over 6% earlier. It is likely to raise its dividend again going forward. It may be able to pay out more as its video streaming business is growing like topsy.

It is a leader in telephony and appeals to small businesses which otherwise might cut the cord. The company allows for voicemail, mobile, and desktop apps without having to buy equipment. The system also sometimes is called Virtual PBX. I hope to see something like that south of the border.

BCE will next report earnings around Feb. 4. Over the past decade, it has upped its payout by about 7.5% annually, except for last year. It is taking a lead in mental health discussions in Canada and donates to this cause based on messaging volumes from users.

Danien Roberts predicted both Nio (NIO) and Tesla (TSLA) will gain market share in 2021. Nio gained 1.65% at the open after it contracted with Chinese battery supplier CATL for lithium iron phosphate batteries, which avoid expensive cobalt and nickel. NIO leases batteries to car buyers. Vodafone (VOD) is up another 3.12% on hopes over content offerings in, among other places, the USA.

Tomra Systems (TMRAY) of Norway gained 1.9% in US OTC trading. It makes sorting machines for drugs, potatoes, and plastics. It trades by appointment. Naspers fell 2.14% on what may be no more than dollar weakness. Nokia (NOK) began offering 5G FWA amd Wi-Fi6 with Zain KSA in Saudi Arabia to up to 60,000 homes and offices this year. Zain is a listed Saudi telco. NOK gained 0.62%.

Countercyclical

While we never bought Caesarstone (CSTE), the Israeli counter marble maker which Frida Ghitis wrote about after she remodeled her kitchen, we did cover her pick. If you bought CSTE, please note that it did not buy Glatfelter today. Glatfelter, Israeli also, contracted to buy Georgia-Pacific's US non-wovens business for $175 million.

Caesarstone, in fact, bought Omicron, a Florida producer of granite, stone, and tile. Caesarstone, formerly owned by an Israeli kibbutz, was able to buy the US firm thanks to 2020 CSTE stock purchases by SEI Investments. Cemex (CX) gained 8.33% today, while CRH of Ireland rose 6.41%. Biden will spend on infrastructure.

Finance

Sumitomo Mitsui Financial (SMFG) rose 5.2,% and Mitsubishi (MSBHF) rose 1.24%. Banco Santander (SAN) rose another 6% today to $3.31. Sampo Oyj (SAXPY) gained 2.2%. SAXPY is Finnish.

Hong Kong's Hang Seng Bank (HSNGF) fell 4.5% today. HSNGF is suffering from being owned by UK bank HSBC, but it is dependent on Hong Kong markets for which it runs the stock index.

Our second yield stock is Scotia Bank, or BNS, of Canada. It is the least engaged in the US among the big Canada banks, and is more global minded. This results from it being from Nova Scotia, the most western part of Canada, and closest to Europe. BNS has taken the lead in business E-transfers in Canadia proper, and has been buying back high priced preferreds.

While 4.7% below its 12-mo nthhigh, it is a good way to play US stimulus, as its yield is 5.5% (in loonies, converted to US$ at source. It trades at 11.44x its forward p.e. ratio).

Fund manager Franklin Resources (BEN), despite a downgrade, rose 5.52% today to $25.6+. We own 2 yield funds from its Franklin Templeton stable, and it raised its dividend by 4% for Q4 2020. It is a US company with $1.5 trillion under management, founded by Sir John Templeton. Last year, it acquired Legg Mason, a US fund group.