The release of the new report kicks off the 2023 L?ATTITUDE Conference in Miami, Florida, creating a national platform for deeper analysis and discussion by top U.S. Latino business leaders about The New Mainstream Economy The Latino Donor Collaborative, a nonprofit organization and think tank dedicated to producing research that highlights economic opportunities for growth, has released its hi...
Sterling fell to a fresh six-month low against a strengthening dollar on Wednesday as markets are pricing in that the Bank of England is done hiking interest rates as the economy deteriorated, while British inflation subsided.
European Central Bank policymaker Robert Holzmann has called for commercial banks to hold a minimum reserve of up to 10% with the bank, German news outlet WirtschaftsWoche reported on Wednesday. "I suggest that the banks deposit more money with us as a minimum reserve without interest, as was the case in the past," the Austrian central bank chief told WirtschaftsWoche in an interview.
Thailand's central bank unexpectedly raised its key interest rate for an eighth straight meeting on Wednesday, saying economic growth and inflationary pressures should pick up next year despite rising global uncertainties. The central bank said the rate had now reached a 'neutral' level and was appropriate for supporting long-term sustainable growth in Southeast Asia's second-largest economy.
The Federal Reserve has been so successful in preventing markets from running away with the prospect of peak interest rates, it may have overdone it and be minded to row back a bit. Such is the jolt to bonds and stocks since the Fed dangled one last rate hike over markets last week, the sharp tightening of financial conditions since may have done much of the work for it already.
The Federal Reserve has been so successful in preventing markets from running away with the prospect of peak interest rates, it may have overdone it and be minded to row back a bit. Such is the jolt to bonds and stocks since the Fed dangled one last rate hike over markets last week, the sharp tightening of financial conditions since may have done much of the work for it already.
* Dollar at 10-month high as Treasury yields remain elevated. * Kashkari: 40% chance of Fed needing 'meaningfully' higher rates. * SPDR Gold Trust holdings at lowest since August 2019. By Deep Kaushik Vakil. Sept 27 - Gold prices fell to the lowest in more than a month on Wednesday as the prospect of U.S. interest rates staying higher for longer boosted the dollar.
China's former deputy central bank governor, Fan Yifei, has been charged by authorities with bribery, China's state news agency Xinhua reported on Wednesday.
By Julie Zhu. Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates.
Japanese government bond yields were mixed on Wednesday in a largely directionless session, as investors sought to balance the "higher for longer" outlook for overseas interest rates against a dovish redux at the Bank of Japan. The benchmark 10-year JGB yield was flat at 0.74%, after earlier sinking as low as 0.73% amid pressure from a retreat in U.S. yields from more than decade highs.
Sentiment among German consumers is set to fall in October, as persistently high inflation encourages people to save and blots out the chances of a recovery before the end of the year, a GfK institute survey found on Wednesday.
Sentiment among German
consumers is set to fall in October, as persistently high
inflation encourages people to save and blots out the chances of
a recovery before the end of the year, a GfK ...
As the Federal Reserve's hawkish stance boosts Treasury yields and slams stocks, some investors are preparing for more pain ahead. For most of the year, equity investors brushed off a rise in Treasury yields as a by-product of better-than-expected economic growth, despite worries that yields could eventually weigh on stocks if they rose too high.
The dollar rose to a 10-month high against its major peers on Wednesday, toppling the euro and sterling to 6-month lows and pushing the yen deeper into intervention territory, as the prospect of higher-for-longer U.S. rates gripped markets. U.S. Treasuries stabilised after a heavy selloff in recent days, though yields remained elevated and kept the greenback solidly bid.
A look at the day ahead in European and global markets from Ankur Banerjee. Investor nerves remain frayed over the prospect of interest rates staying higher for longer, with a surge in U.S. Treasury yields pulling the dollar to a 10-month peak and driving Asian currencies, the pound and the euro to their lowest in months.
The Reserve Bank of India will likely buy dollars from the market and absorb rupee liquidity by selling bonds as flows related to India's inclusion in global bond indices begin, JPMorgan's (JPM) head of emerging market economics told Reuters.
Gains in Australia's inflation for August were in line with expectations and a measure of core inflation eased further, lessening pressure on the central bank to hike interest rates next month. Australia's monthly consumer price index rose 5.2% in the year to August, up from 4.9% the previous month and the first rise in the pace of gains in four months.
* Dollar at 10-month peak as yields stay elevated. * Kashkari: 40% chance of Fed needing 'meaningfully' higher rates. * SPDR Gold Trust holdings lowest since August 2019. By Swati Verma. Sept 27 - Gold prices dropped on Wednesday to their lowest levels in more than a month, weighed down by an assurgent U.S. dollar as markets made adjustments to a higher-for-longer interest rate scenario.
China's central bank said on Wednesday it would step up policy adjustments and implement monetary policy in a "precise and forceful" manner to support an economy whose recovery was improving with "increasing momentum".
Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates.
Gold prices were pressured on Wednesday and traded near their weakest levels in a month touched in the previous session as the U.S. dollar firmed on the back of a higher-for-longer interest rate scenario. FUNDAMENTALS. * Spot gold was flat at $1,900.49 per ounce by 0119 GMT, hovering near its lowest since Aug. 23 touched on Tuesday.
Profits at China's industrial firms fell 11.7% in the first eight months from a year earlier, official data showed on Wednesday, as companies grappled with soft demand both home and abroad despite early signs of economic stabilisation. The slide followed a 15.5% profit fall for the first seven months, National Bureau of Statistics data showed.
* Board divided on whether firms would keep hiking wages. * One saw risk of Japan seeing U.S., Europe-style inflation. * Another warned of risk wage growth could lose momentum. * Divergence underscores uncertainty on BOJ rate hike timing. * BOJ made tweaks to YCC in July to make easy policy sustainable. By Leika Kihara.
The dollar rose to a 10-month high against its major peers on Wednesday, toppling the euro and sterling to 6-month lows and pushing the yen deeper into intervention territory, as the prospect of higher-for-longer U.S. rates gripped markets. U.S. Treasuries stabilised after a heavy selloff in recent days, though yields remained elevated and kept the greenback solidly bid.
Bank of Japan policymakers agreed on the need to maintain ultra-loose monetary settings but were divided on how soon the central bank could end negative interest rates, minutes of its July meeting showed on Wednesday.
U.S. Treasury yields were
mixed on Tuesday, with the 10-year yield pulling back from
16-year peaks touched the previous session and the yield curve
flattening a bit, as investors slowed the pace of ...
* All 11 S&P 500 sectors sink. * Moody's warns government shutdown bad for U.S. credit. * Amazon.com (AMZN) shares drop as U.S. files antitrust lawsuit. By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan.
The dollar index hit a
10-month high on Tuesday while the Japanese yen came closer to
the key 150 level, where Japanese officials are seen as
potentially intervening to shore up the currency.
Snap Inc?shares are trading lower by 3.5% to $8.30 Tuesday afternoon after HSBC initiated coverage on the stock with a Reduce rating and announced a?$7.50 price target. Stocks across sectors are also falling Tuesday amid overall market weakness with concerns about future rate hikes following?last Wednesday's FOMC statement?and lower-than-expected initial jobless claims data.
* All 11 S&P 500 sectors sink, utilities drop most. * Moody's warns government shutdown bad for U.S. credit. * U.S. sues Amazon.com (AMZN) for breaking antitrust law. * Indexes down: Dow 1.19%, S&P 500 1.4%, Nasdaq 1.48% By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan.
* Consumer confidence index drops to 103.0 in September. * Labor market differential widens to 27.3 from 26.7. * New home sales fall 8.7% in August; home prices up in July. By Lucia Mutikani.
Latin American currencies were mixed
on Tuesday with the Brazilian real steady as inflation data
eased concerns of more aggressive rate cuts, while elsewhere,
the Hungarian central bank cut interest ...
* Tech falls the most among sectors. * Energy stocks edge up. * TSX down 0.7% By Khushi Singh. Canada's main stock index fell on Tuesday, mirroring weakness on Wall Street, as U.S. Treasury yields touched multi-year highs on bets of interest rates staying elevated for a longer time.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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