Thiago Motta, the manager of Genoa, has dismissed rumors linking him to a coaching position at Manchester United as “irrelevant.” Motta has emphasized his commitment to his current role at Genoa and stated that his focus is on the team’s upcoming matches. The former Italy international midfielder has been praised for his work at Genoa, where he has led the team to an impressive season so far. Motta’s comments come amid speculation about the future of Manchester United manager Ole Gunnar Solskjaer, who has faced criticism for the team’s inconsistent performances. Despite the speculation, Motta has made it clear that he is fully concentrated on his work at Genoa and is not considering any potential move to Manchester United at this time.
Thiago Motta, the manager of Genoa, has dismissed rumors linking him to a coaching position at Manchester United as “irrelevant.” Motta has emphasized his commitment to his current role at Genoa and stated that his focus is on the team’s upcoming matches. The former Italy international midfielder has been praised for his work at Genoa, where he has led the team to an impressive season so far. Motta’s comments come amid speculation about the future of Manchester United manager Ole Gunnar Solskjaer, who has faced criticism for the team’s inconsistent performances. Despite the speculation, Motta has made it clear that he is fully concentrated on his work at Genoa and is not considering any potential move to Manchester United at this time.
BY ManUtd News
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Traders also expressed uncertainty about the situation with China Evergrande, as the indebted property company has not provided clarification about a key interest payment.In economic news, the Commerce Department reported an unexpected increase in U.S. new home sales in August.Crude oil prices climbed Friday and front-month WTI oil futures contracts saw gains for a fifth straight week amid tighter supplies. West Texas Intermediate Crude oil futures for November rose $0.68 or 0.9 percent at 73.98 a barrel. WTI Crude futures gained 2.8 percent for the week.
Spiking bond yields driving sharp losses in tech stocks
A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy. The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It recently surged to a cycle high of more than 1.60% after starting the year below 1%. But according to Jim Paulsen, the Leuthold Group's chief investment strategist, rising interest rates do not represent a long-term threat to the stock market. Paulsen expects the 10-year yield to cross 2% by the end of the year.
A spike in interest rates and its impact on the stock market depends on the economic backdrop, according to Paulsen. Rising interest rates amid a strengthening economy "may prove no challenge at all for stocks," Paulsen said.
