Markets Up As US Clears Path For Moderna Vaccine Approval

Bank of England interest rate decision: Following the Fed’s interest rate decision, the Bank of England’s Monetary Policy Committee will vote on whether to raise, cut or maintain its central rate tomorrow. Again, the consensus view is that it will be a unanimous vote to keep rates unchanged, but any statement of the central bank’s view of negative interest rates as a tool to be used in the future will attract substantial interest. Currently, the BofE is consulting with lenders to determine the preparations required if it does choose to exercise that option, according to Reuters.

Crypto corner: Bitcoin third most popular trade among fund managers

Bitcoin (bitcomp) was the third most popular asset held by mainstream fund managers, the Global Fund Manager Survey has found, with 15% of fund managers holding a position, up from 5% in November.

The survey by Bank of America Merrill Lynch asked fund managers around the world to detail their most traded assets. Number one spot was taken by tech stocks (52% of fund managers) second place went to short dollar positions (18%) and bitcoin came in third – traded by 15% of respondents. This places it ahead of more traditional crisis-time assets such as gold and bonds and is up from 5% the previous month.

The survey caps a year in which the world’s largest cryptoasset has ‘gone mainstream’ with a price resurgence and wider dissemination through platforms such as PayPal. Bitcoin first emerged in the survey in September 2017 when 26% of its respondents said they had traded the cryptoasset.

All data, figures & charts are valid as of 16/12/2020.

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