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    Turkish crypto exchange boss goes missing, reportedly taking $2 billion of investors' funds with him

    A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.Jordan Mansfield | Getty ImagesLONDON — A Turkish cryptocurrency exchange is offline and its CEO has reportedly gone missing, leaving thousands of investors worried that their funds have been stolen.Thodex, a crypto platform based in Turkey, said its platform has been “temporarily closed” to address an “abnormal fluctuation in the company accounts,” according to a translated statement on its website.Local media reports say that Faruk Fatih Ozer, Thodex’s founder, has flown to Albania, taking $2 billion of investors’ funds with him. Demiroren News Agency published a photo of what it said was Ozer leaving Istanbul Airport.A lawyer who filed a criminal complaint against Ozer said Thodex had 400,000 users, of which 390,000 were active. However, Ozer has disputed the allegations, saying only 30,000 users have been affected by the situation and that reports about $2 billion of losses are “unfounded.”According to Anadolu Agency, Turkish authorities have now issued an international warrant seeking Ozer’s arrest. Police have detained 62 people in eight cities including Istanbul, the state-run news agency said.Thousands of Thodex users have filed complaints against the company, with investors saying they are unable to access their accounts and worry that their savings may be irretrievable. Some Turkish citizens have turned to crypto as a way to protect their savings from skyrocketing inflation and the weakening of the Turkish lira.According to Bloomberg, Thodex last month offered new registrants millions of free dogecoins. The exchange reportedly said 4 million of the meme-inspired crypto tokens had been distributed but many users say they haven’t received them.Thodex was not immediately available for comment when contacted by CNBC via Twitter.Crypto crackdown ahead?It’s a reminder of the regulatory uncertainty surrounding the crypto industry. Though some countries are introducing rules aimed at bringing crypto businesses under their supervision, the industry lacks the level of scrutiny seen in more established financial markets.In 2019, Canadian crypto exchange QuadrigaCX went bankrupt after its CEO died, resulting in millions of dollars’ worth of digital assets being trapped in a digital wallet.Turkey’s central bank recently banned the use of cryptocurrencies for purchasing goods and services. President Recep Tayyip Erdogan has called for swift regulation, warning of “pyramid schemes” emerging in the crypto markets.Meanwhile, Britain’s financial services watchdog warned in January that crypto investors “should be prepared to lose all their money” due to the “very high risks” associated with them.Bitcoin and other cryptocurrencies are decentralized, meaning they’re not controlled by a single individual but a network of computers. The whole idea of bitcoin originally was for people to be their own bank and hold money outside of the traditional financial system.Crypto investors believe the industry has matured a great deal over the years, however. Bitcoin’s price has climbed more than sixfold over the last 12 months, even after a sharp plunge in prices recently. And bitcoin bulls hope that the entrance of institutional investors and companies like Tesla to the market will help move cryptocurrencies into the mainstream.Nonetheless, volatility in digital currency prices and a potential regulatory clampdown are big risks for the industry. Jesse Powell, CEO of U.S. exchange Kraken, told CNBC earlier this month that he thinks there “could be some crackdown” on cryptocurrencies. More

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    'This is our generation's moonshot,' Energy Secretary Granholm says of fighting climate change

    Secretary of Energy Jennifer Granholm speaks during the daily press briefing on April 8, 2021, in the Brady Briefing Room of the White House in Washington, DC.Brendan Smialowski | AFP | Getty ImagesEnergy Secretary Jennifer Granholm on Friday emphasized the need for the world to come together in an effort to tackle climate change, while stressing the economic opportunity the energy transition presents.”For too long this climate conversation has been viewed as a zero-sum game: one of trade offs — the climate, or the economy. No longer,” she said at day two of the climate summit called by President Biden.In a speech that at points struck an optimistic tone — calling the challenge an “exciting moment” — Granholm noted that the clean energy transition market will hit at least $23 trillion by 2030. “That means that we can all remake our economies, we can build new businesses and put millions and millions of people to work,” she said.Ahead of the summit’s kick-off on Thursday, which was Earth Day, President Joe Biden announced a target to reduce U.S. greenhouse gas emissions between 50% and 52% by the end of the decade. The target is the country’s most ambitious on record. Prior goals set under the Obama administration targeted emissions reductions between 26% and 28% below 2005 levels by 2025.The summit brought together 40 world leaders, where heads of state announced their own emissions reduction targets while committing to a greener future.Climate was a key pillar of Biden’s campaign, and on his first day in office he rejoined the U.S. into the Paris climate accord. His recently announced $2 trillion infrastructure bill earmarks more than $600 billion in spending for climate-related initiatives, including the power grid, electric vehicles and funding for research.”We need fearless innovation to bring down the costs of batteries, to commercialize carbon capture, to make blue and green hydrogen market ready, and perhaps most of all, we need a mindset that overcomes resistance to change. Many are stuck on the status quo,” Granholm said.”Climate disasters worldwide tell us that the scariest thing that we can do is nothing at all,” she added, noting that the Department of Energy will be announcing new goals for various technologies in the coming weeks.As the U.S. continues to feel the burdens of the coronavirus pandemic, Granholm emphasized the job opportunity of ramping up U.S. infrastructure around clean energy, and the need to bring production to U.S. soil. This will create a whole ecosystem of jobs — everything from project managers, to engineers, to technicians and more.”This is our generation’s moonshot. Less than a decade after Kennedy declared our nation’s choice to go to the moon we planted an American flag on that cratered surface, and today we choose to solve the climate crisis,” she said.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today- CNBC’s Emma Newburger contributed reporting. More

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    Elon Musk thinks NASA's goal of landing people on the moon by 2024 is 'actually doable'

    SpaceX owner and Tesla CEO Elon Musk poses as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020.Britta Pedersen | AFP | Getty ImagesElon Musk thinks SpaceX can help NASA meet its ambitious goal of landing astronauts on the moon by 2024.”I think that can be done,” Musk said Friday, speaking after SpaceX launched the Crew-2 mission to orbit for a trip to the International Space Station.”We’re going to aim for sooner than that, but I think this is actually doable,” he added. “We’re building up a lot of rockets, and probably [will] smash a bunch of them, but I think it will happen.”SpaceX won a $2.9 billion contract from NASA last week under the agency’s Human Landing Systems program.Starship prototype rocket SN11 stands on the launchpad at the company’s facility in Boca Chica, Texas.SpaceXUnder the contract, Musk’s company will build a variation of its Starship rocket, prototypes of which SpaceX has been testing in Boca Chica, Texas. The company has performed multiple successful test flights of Starship, although landing attempts after the last four high-altitude flights ended in fiery explosions.NASA’s Artemis program, announced by President Donald Trump’s administration and expected to continue under President Joe Biden, consists of multiple missions to the moon’s orbit and surface in the years ahead.Musk said “it’s a great honor to be chosen by NASA to return people to the moon,” emphasizing his company’s vision for flying regular flights there and beyond.”It’s been now almost half a century since humans were last on the moon. That’s too long, we need to get back there and have a permanent base on the moon — again, like a big permanently occupied base on the moon. And then build a city on Mars to become a spacefaring civilization, a multiplanet species,” Musk said. “We don’t want to be one of those single-planet species, we want to be a multiplanet species”Musk has previously estimated that it will cost about $5 billion to fully develop Starship, although SpaceX has not disclosed how much it has spent on the program. On Friday, Musk noted that the Human Landing Systems contract win is “really helpful,” as Starship development has “mostly been funded internally thus far and it’s pretty expensive.””It’s a tough vehicle to build because we’re trying to crack this nut of a rapid and fully reusable rocket,” Musk said. “But the thing that’s really important to revolutionize space is a rapidly reusable rocket that’s reliable, too.” More

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    U.S. Covid vaccinations slow as more states pass half of residents jabbed

    The rate of daily Covid vaccinations reported administered in the U.S. dipped below 3 million for the first time in weeks Thursday, according to data from the Centers for Disease Control and Prevention. At the same time, more states crossed the halfway point for residents with at least one shot.U.S. vaccine shots administeredThe United States is averaging 2.9 million reported shots per day over the past week, CDC data shows. The daily average had held above 3 million for more than two weeks straight and hit a peak of 3.4 million reported shots per day on April 13.Zoom In IconArrows pointing outwardsOne reason for this slight dip may be the ongoing halt in Johnson & Johnson vaccinations, which the Food and Drug Administration advised states to suspend earlier this month “out of an abundance of caution” after six women developed a rare blood clotting disorder.The J&J shot makes up less than 4% of the 219 million total doses administered in the U.S. to date. But the single-shot option had proven particularly useful in certain communities that have difficulty accessing vaccination sites multiple times, and was being used for an average of 425,000 reported shots per day at peak levels in mid-April.CNBC Health & Science Read CNBC’s latest coverage of the Covid pandemic:New Covid variant detected at Texas A&M lab shows signs of antibody resistance and more severe illness in young peopleRich countries are refusing to waive the rights on Covid vaccines as global cases hit record levelsBiden says White House hit 200 million shots goal as case counts in Michigan, U.S. show signs of slowingIndia reports record single-day jump in Covid cases, with more than 314,000 new infectionsU.S. share of the population vaccinatedAbout 40% of the U.S. population has received one or more vaccine shots, and more than a quarter is fully vaccinated. Among seniors, more than 81% have received at least one dose.Zoom In IconArrows pointing outwardsNew Hampshire outpaces all other states in terms of residents with one or more shot, with 59% of the population at least partially vaccinated. Connecticut crossed the halfway mark earlier this week, and Maine and Massachusetts did so Thursday.Many states are nearing the milestone, with Vermont, New Mexico, New Jersey, Hawaii, Rhode Island and Pennsylvania all across the 45% mark.Zoom In IconArrows pointing outwardsStates lagging behind the national rate include Mississippi, where 30% of residents have received at least one shot, and Alabama and Louisiana, where 31% of residents have been jabbed. Eleven states in total are below 35%.U.S. Covid casesThe U.S. is reporting nearly 62,000 new coronavirus infections per day, based on a seven-day average of data compiled by Johns Hopkins University. That level is above the nation’s most recent low point of 53,600 per day in late March, but has been trending downward over the past week.Zoom In IconArrows pointing outwardsIn Michigan, where daily case counts are the highest in the country on a per capita basis, the outbreak may be showing signs of letting up. The state is reporting nearly 6,200 daily new cases on average over the past week, down from nearly 7,700 per day a week ago.U.S. Covid deathsThe U.S. is reporting an average of about 700 daily Covid deaths, according to Hopkins data. The nationwide death toll over the course of the pandemic has surpassed 570,000.Zoom In IconArrows pointing outwards More

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    Gymnast Simone Biles is leaving Nike to work with Gap's Athleta brand

    In this articleGPSNKEGold medalist Simone BilesAlex Livesey | Getty ImagesGymnast Simone Biles is departing Nike to partner with Gap’s Athleta brand.With Athleta, Biles is going to have her own performance wear line, which will include products for wearing to and from the gym, the company said Friday.Athleta will also give Biles a platform to be an activist for women and other female athletes.The value of the contract wasn’t disclosed.”Using my voice has been very empowering for me and I am grateful to embark on this new journey with Athleta to inspire young girls and women to do the same,” Biles said in a statement. “I admire Athleta for their commitment to recognize and support women’s individual and collective strength.”In July 2019, Gap’s Athleta banner landed its first sponsored athlete: Olympic track champion Allyson Felix. Since then, Felix has worked on her own line of running clothes and has appeared in Athleta’s marketing.Like Biles, Felix had previously partnered with Nike. She joined at a time when the sneaker giant was being criticized for not supporting pregnant athletes.When it announced its partnership with Felix, Gap said its goal was to “flip this sponsorship model on its head” by giving athletes more support in their personal lives and by handing them creative responsibilities.Biles’ contract with Nike had started in 2015, when she turned professional. Felix and Biles are expected to be two of the more prominent athletes at the Olympic Games in Tokyo this summer.Born in Columbus, Ohio, Biles holds the most World Championship gold medals ever won by a female gymnast. The 24-year-old has also been vocal about the abuse that gymnasts like herself have suffered in the sport.Earlier in the week, Gap announced that it will soon be expanding its Athleta brand, which rivals Nike, Lululemon and Under Armour for women, into Canada.Athleta is targeting $2 billion in annual sales by 2023. The brand surpassed the $1 billion mark last year, with its sales up 16% from 2019 levels. Gap’s total sales for 2020 amounted to $13.8 billion.Gap shares were up fractionally in Friday’s premarket. The retailer’s stock is up more than 60% this year, giving it a market value of $12.46 billion.The Wall Street Journal first reported the news about Biles and Athleta.It follows Nike’s partnership with the estate of basketball player Kobe Bryant ending days earlier, too.Nike did not immediately respond to CNBC’s request for comment. More

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    'Nomadland' leads the pack for best picture heading into the Oscars, but best actress award is wide open

    In this articleNFLXDISFrances McDormand stars in Searchlight Pictures “Nomadland.”Source: Searchlight PicturesThe path to the 2021 Academy Awards has been a strange one. After enduring date changes and delays as well as virtual film festivals and new eligibility rules, the Oscars will take place this Sunday.Heading into the ceremony, there are a few clear frontrunners in major categories like best picture and best director, but the race is still wide open in others, like best actress.Regardless of who wins, the 2021 Oscar nomination slate is a historic one. It marks the first time an all-Black producing team has been nominated for best picture (“Judas and the Black Messiah”), the first time two actors of Asian decent were nominated for best actor (Steven Yeun and Riz Ahmed) and the first year that two women have been nominated for best director (Chloe Zhao and Emerald Fennell).Zhao’s “Nomadland” has swept the awards season and seems poised to nab best picture as well as the best directing award for the filmmaker, barring any unforeseen upsets.Chadwick Boseman, who unexpectedly passed away after a four-year battle with colon cancer that he concealed from the public, is likely to pick up the best actor award for his performance in “Ma Rainey’s Black Bottom.”Daniel Kaluuya is expected to snag the best supporting actor trophy for his performance in “Judas and the Black Messiah,” while Yuh-Jung Youn appears to be on track to become the second Asian woman to win an acting prize at the ceremony.The best actress award, on the other hand, is anyone’s guess.While more than two dozen awards will be presented this Sunday. Here’s a look at who could take home the prize in the top categories.Best pictureHeading into Sunday’s ceremony, “Nomadland” appears to be the clear frontrunner for the best picture award. The film has picked up the top award from the Producers Guild of America, the Directors Guild of America, the Golden Globes and the BAFTAs.Still, “1917” and “La La Land” had similar track records, but lost to “Parasite” and “Moonlight.” So, there’s still a chance for an upset from one of the other contenders.”Nomadland” is nominated alongside “The Father,” “Judas and the Black Messiah,” “Mank,” “Minari,” “Promising Young Woman,” “Sound of Metal” and “The Trial of the Chicago 7.”Best directorIn the weeks leading up to the Oscars, Zhao has scooped up the top directing award at the Critics Choice, Golden Globes and Directors Guild of America awards for “Nomadland.” While she faces some competition in the category at the Academy Awards, she is expected to become the second woman ever to win the best director award.She has been nominated alongside Fennell (“Promising Young Woman”), David Fincher (“Mank”), Lee Isaac Chung (“Minari”), and Thomas Vinterberg (“Another Round”).Director Chloe Zhao attends a special screening of “The Rider” at the Writers Guild Theater on April 11, 2018 in Beverly Hills, California.Amanda Edwards | Getty ImagesBest animated feature”Soul” and “Wolfwalkers” both walked away from the Annie Awards with best picture wins, one for best feature and one for best indie feature, but only one can walk away with the top prize for animation at the Oscars.Pixar’s “Soul” appears to be the strong frontrunner, earning chief creative officer Pete Docter his ninth Academy Award nomination and a potential third win. “Soul” marks his fourth nomination for best animated feature, a record for the category, which was first awarded in 2002.Other nominated titles include another Pixar feature called “Onward,” as well as Netflix’s “Over the Moon” and “A Shaun the Sheep Movie: Farmageddon.”Jamie Foxx voices Joe Gardner in Disney Pixar’s “Soul.”DisneyBest actorAnthony Hopkins may have won the BAFTA for best actor for “The Father,” but it seems the late Chadwick Boseman is expected to take home the prize this Sunday.The actor — known for his role as T’Challa, the Black Panther, in Disney’s Marvel Cinematic Universe —passed away last August at the age of 43. He posthumously took home the best acting awards at the Critics Choice, Golden Globes and Screen Actors Guild awards this year.Other nominees include Riz Ahmed (“Sound of Metal”), Gary Oldman (“Mank”) and Steven Yeun (“Minari”).Chadwick Boseman in Ma Rainey’s Black BottomSource: NetflixBest actressIt’s anyone’s guess which actress will take home the top acting award on Sunday. A different actress won the prize at the top award shows leading up to the Oscars.Carey Mulligan (“Promising Young Woman”) won at the Critics Choice Awards, Frances McDormand (“Nomadland”) took home the BAFTA, Viola Davis (“Ma Rainey’s Black Bottom”) earned the Screen Actors Guild award and Andra Day (“The United States vs. Billie Holiday”) garnered the Golden Globe win.Only Vanessa Kirby has yet to secure a win for her performance in “Pieces of a Woman,” but she’s not totally out of the running.Best original screenplayAaron Sorkin may have won best original screenplay at the Golden Globes, but it’s been Emerald Fennell that has swept the rest of the awards on the circut.Fennell scooped up the BAFTA, Critics Choice and Writers Guild of America awards leading up to Sunday’s ceremony. If she does win the trophy at the Academy Awards, she will be the second solo female winner of this category. Diablo Cody was the first for “Juno.”Carey Mulligan stars in “Promising Young Woman.”Source: Focus Features More

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    India reports more than 330,000 new Covid cases, setting a fresh global record

    India needs a brief but extensive lockdown to break the chain of coronavirus transmission and allow the medical community to recuperate, according to the national president of the Indian Medical Association.The South Asian nation is going through a disastrous second wave of Covid infections. Cases began rising in February and in subsequent months, large crowds gathered for religious festivals and political rallies in various parts of the country, mostly without masks.There is also growing concerns about new strains of the virus that are potentially more contagious.On Friday, India reported 332,730 new cases of infections over a 24-hour period, according to government data. For the second day in a row, India reported the world’s highest single-day increase in infections.”Almost all our hospital beds are full. But I still believe the infrastructure facility is good enough to cater to the needs of the people,” J. A. Jayalal told CNBC’s “Capital Connection” on Friday. The Indian Medical Association is one of the largest professional organizations in the country representing doctors.Need an ‘extensive lockdown’While some states have stepped up social restrictions, including night curfews, others have moved into partial lockdowns.”But that’s not good enough,” said Jayalal. “We need to have extensive lockdown, at least for two weeks, and that will enable the hospitals and the doctor community to recoup and reemphasize and repower our hospital infrastructure to tackle the crisis.”During the first wave of infection, India imposed a nationwide lockdown between late-March and May. While it helped to eventually bring down the number of cases, the lockdown had a severe impact on India’s growth trajectory, leaving millions without income and jobs.We need intense war-footing activities by the government and the health care professionals at this momentJ. A. JayalalIndian Medical AssociationWith the economy still struggling to get back on track, experts have suggested that the government might be hesitant to impose another national lockdown.Jayalal said India’s health care system is “at the breaking point,” and if cases continue to rise rapidly over the next two weeks, then the consequences may be “disastrous.” So far, many cases are concentrated within ten states, including Maharashtra, the epicenter of the second wave, he explained.”We are now in the process of moving the resources to the needy areas, but that also will have only a limited effect. If the trend is continuing beyond this level, definitely we will be in a disastrous situation.”Over 4 million new cases in a monthSo far in April, cases have risen significantly — India has reported more than 4 million cases as of Friday and at least 24,452 people have died. Media reports suggest that the actual death toll could potentially be higher.The high number of infections have exacerbated the pressure on India’s medical infrastructure. Overwhelmed hospitals are turning away critically ill patients due to a shortage of beds. A severe oxygen supply shortage, partly due to uneven distribution across states, has led to the deaths of many Covid-19 patients. The government has since diverted industrial oxygen supplies for medical use.Medical workers in personal cover protective equipment (PPE) stand alert mode outside the Covid-19 ward at Sir Ganga Ram Hospital on April 22, 2021 in New Delhi, India.Sonu Mehta | Hindustan Times | Getty ImagesJayalal said India needs more medical manpower as frontline doctors are “almost stretched out” and psychologically drained. He explained that medical professionals have asked the government to expedite processes that would allow junior doctors and medical students to get involved in treating Covid patients.”We need intense war-footing activities by the government and the health care professionals at this moment,” he added.India’s vaccination drive — one of the largest in the world — is also facing supply challenges. The country has administered more than 135 million doses and recently, the government approved grants for local vaccine makers to ramp up production capacity.Danny Altmann, professor of immunology at Imperial College London, said on Friday that he was “very concerned” after India recorded the world’s highest daily tally of Covid infections for the second day in a row.”If you remember it was only a few months back that we were saying that India was doing rather well and was less affected than some other countries and how can we explain this? And now we have got this incredible devastation there, really terrifying sights coming out of India,” Altmann told CNBC’s “Street Signs Europe.””Although we can’t prove it is causing it at the moment, my sense is that this is associated with the spread of this new B1617 variant that is seen in about 60% of cases there.”— CNBC’s Sam Meredith contributed to this report. More

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    Why a strong start to earnings season isn’t halting the slide for global stocks

    The Wall Street sign is seen outside The New York Stock Exchange (NYSE) in New York, February 16, 2021.Brendan McDermid | ReutersLONDON — Corporate earnings season is off to a flying start, but the positive surprises have so far failed to generate upward momentum for global stock markets.As of Friday morning, 13% of companies in Europe and 20% in the U.S. had reported first-quarter earnings, with the majority exceeding consensus expectations.Barclays analysts on Friday highlighted that earnings per share (EPS) growth has been particularly high thus far, at 107% year-on-year in Europe and 63% in the U.S.EPS beats are above average for a reporting season at 74% in Europe and 83% in the U.S., Barclays highlighted, while sales growth has surprised positively versus consensus by 1% in Europe and 4% in the U.S. Financials have led the beats, with all European financials so far delivering positive earnings per share surprises.However, both European and U.S. markets are down slightly for the week, and Barclays Head of European Equity Strategy Emmanuel Cau suggested that high earnings expectations had largely been priced into markets following their impressive run and re-rating over the past year.”Our view that the reporting season may turn out to be a case of ‘travel and arrive’ seems to be playing out so far,” Cau said in the note.”The median stock price reaction to results is indeed negative despite the strong beats to estimates, mainly in the U.S., while it is broadly flat in Europe.”Cau noted that a similar pattern had emerged in the previous two earnings seasons, with stock markets rallying in the run-up before stalling, and beginning to rally again after a period of digestion.Marcus Morris-Eyton, portfolio manager at Allianz Global Investors, told CNBC Thursday that earnings season was expected to be strong due to “very healthy macro tailwinds,” and that these will likely continue for the next several quarters, particularly in Europe.”But the challenge for us as investors is expectations are very high, so these companies need to either meet or exceed expectations,” Morris-Eyton told CNBC’s “Squawk Box Europe.””You’ve already seen a few examples of where companies have reported in-line numbers but it wasn’t good enough for the market.”‘Correction concerns’The robust earnings delivery will be important for equity markets to continue their general grind higher, but overbought technicals, broadly bullish positioning and the seasonal “sell in May” mindset could place stocks in the “danger zone” for a pullback if a negative catalyst emerges, Cau suggested.”The most obvious would be a vaccine resistant (coronavirus) variant appearing, but geopolitical flares or a hawkish policy surprise could hurt sentiment too,” he said.”Also, we warned recently about regulatory/taxation risk, which has been largely ignored by markets.”The latter came to the fore on Thursday, as markets were spooked by reports that U.S. President Joe Biden’s administration is considering hikes to capital gains tax as part of its new economic package.”Many indicators have been stretched for some time now and it would have been premature to de-risk given the improving fundamentals, but there seems to be less margin for error now if something were to go wrong,” Cau said.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. More