Weekly Market Insight

Latest Economic & Market Update 16th March 2021

16th March 2021

Good afternoon, it is March 16th 2021 and here is your economic and market update from BlackBee. 

Today’s focus:

  • Stripe to create 1000+ jobs in Ireland
  • Yields retreat and equities rise

Stripe, the payment systems company founded by Limerick brothers Patrick and John Collison, is to add over one hundred jobs to its Irish workforce. Currently 300 people are employed by the company in Dublin. Stripe received $600 million in the company’s latest round of funding. This puts a $95 billion value on the company. The Ireland Strategic Investment Fund (ISIF) are among the investors in the latest round of funding. (Source: RTE)

Following Friday’s 13 month high in ten year US treasury yields of 1.64%, the yield tightened by 2 basis points yesterday. The S&P 500 and NASDAQ Composite indexes rose 0.6% and 1.0% respectively. Future free cash flows are discounted at a lower rate due to the lower treasury yield. This theoretically increases the value of shares. The Federal Open Market Committee will meet on Tuesday and Wednesday. Markets will be paying close attention to the messaging of the Fed’s policy setting panel. (Source: FT)

Best & Worst Performers of Large Cap US Stocks on Monday
Click image to enlarge

Global Market Update
(as at close of markets 15/03/2021)