The International Energy Agency (IEA) slashed its global oil demand outlook for 2021, as a result of a resurgence in coronavirus infections and reiterated lockdown measures. Fundamental analysis: Slashed global demand outlook According to the updated outlook, the agency expects global oil demand to increase by 5.5 million barrels per day to 96.6 million this year, representing a cut of 0.3 million barrels from last month’s forecast, following a massive drop of 8.8 million barrels per day in 2020 amid the pandemic. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. The revision in the outlook comes as countries across the world continue to impose restrictions to curb the spread of the deadly virus, with some of them even bringing back lockdowns in Europe and China. IEA added the oil demand growth is expected to drop in the first quarter of 2021 as a result of new travel restrictions. Consequently, worldwide mobility will be limited once again, urging the agency to slash its Q1 oil demand growth outlook to 94.1 million barrels per day. This means oil demand would move closer to year-ago levels, representing a downward revision of 0.6 million barrels from the previous report in December. “The global vaccine roll-out is putting fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth mode following 2020′s unprecedented collapse,” the IEA said in a report. Technical analysis: Gains capped by 200-DMA Crude oil prices are trading about 1.8% higher today around the $53.00 mark. Today’s move higher has stopped near $53.18, where the 200-DMA is located to provide nearby resistance. Crude Oil weekly chart (TradingView) A break of this resistance line will allow for a push towards the major resistance block located around the $55.00 handle. This trend line (the blue line) used to act as
Capstead Mortgage Corporation (NYSE: CMO) ("Capstead” or the "Company”) announced today that it will release its fourth quarter 2020 results following the close of trading on the New York Stock Exchange on Wednesday, January 27, 2021. The Company will host a conference call and live audio webcast to discuss its financial results on Thursday, January 28, 2021, at 9:00 a.m. ET.
To access the conference call, dial toll free (877) 505-6547 in the U.S., (855) 669-9657 for Canada, or (412) 902-6660 for international callers and ask to join the Capstead Mortgage Corporation call. The audio replay will be available one hour after the end of the conference call. The replay can be accessed by dialing toll free (877) 344-7529 in the U.S., (855) 669-9658 for Canada, or (412) 317-0088 for international callers and entering conference number 10151735.
A live audio webcast of the conference call can be accessed through a link in the investor relations section of the Company’s website at www.capstead.com. Please allow extra time prior to the call to download and install audio software, if needed. An audio archive of the webcast will be available until April 27, 2021 on the Company’s website.
Capstead is a self-managed real estate investment trust, or REIT, for federal income tax purposes. The Company earns income from investing in a leveraged portfolio of residential adjustable-rate mortgage pass-through securities, referred to as ARM securities, issued and guaranteed by government-sponsored enterprises, either Fannie Mae, Freddie Mac, or by an agency of the federal government, Ginnie Mae.
Capstead’s investment strategy attempts to mitigate risks to book value by focusing on investments in agency-guaranteed residential mortgage pass-through securities, which are considered to have little, if any, credit risk and are collateralized by ARM loans with interest rates that reset periodically to more current levels.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005266/en/
Celsius Network (CEL) price is trading about 115% higher in December after gaining almost 78% in November. Fundamental analysis: Audit confirms multi-billion assets Celsius Network said it completed an audit which confirmed that the crypto lending platform holds $3.3 billion in digital assets under management (DAUM). The audit, which was carried out by Chainalysis, will offer better transparency to community members and reinforce their faith in the platform, Celsius said in the announcement. Also, this is the first time that an independent company has confirmed the number of assets that Celsius holds under management, based on crypto transactions, total deposits and total withdrawal. “The conclusion of our audit is a great step in building greater trust and transparency for our members and for the industry at large. With the validation of a third-party, we’re providing additional transparency into our business, which remains one of the industry’s most reliable, secure and rewarding platforms for putting unparalleled economic freedom into the hands of the people,” Alex Mashinsky, chief executive of Celsius Network. In this audit, Chainalysis used its transaction monitoring software for the first time to track down the $7.6 billion in deposits and $4.29 billion in withdrawals. The audit confirmed