U.S. President-elect Donald Trump's economic agenda risks returning inflation to the United States and hurting economic growth worldwide, Bank of France head and European Central Bank member Francois Villeroy de Galhau said on Wednesday. "The programme risks bringing back inflation to the United States," Villeroy told France Inter radio.
Bank of France head and European Central Bank member Francois Villeroy de Galhau said on Wednesday he expected inflation to remain moderate in France and that he anticipated more rate cuts by the ECB.
A look at the day ahead in European and global markets from Kevin Buckland. The wide-ranging market bets on big fiscal spending, lower taxes and higher tariffs under incoming U.S. President Donald Trump - collectively dubbed "Trump trades" - took a breather on Wednesday while traders' focus shifted back to economic data.
Japan's five-year government bond yield hit a 15-year high on Wednesday as a weaker yen accelerated bets for the Bank of Japan to raise interest rates. The five-year yield rose to 0.685%, its highest level since November 2009, before inching down to 0.68%, up 3 basis points from the previous session.
A look at the day ahead in European and global markets from Kevin Buckland. The wide-ranging market bets on big fiscal spending, lower taxes and higher tariffs under incoming U.S. President Donald Trump - collectively dubbed "Trump trades" - took a breather on Wednesday while traders' focus shifted back to economic data.
Asian stocks slumped on Wednesday as a sharp rise in U.S. bond yields unnerved investors ahead of key inflation data that could inform the pace of Federal Reserve policy easing. Short-term Treasury yields edged up after jumping to the highest since late July on Tuesday as the market reopened after the Veterans Day holiday, spurring the U.S. dollar to a more than three-month peak versus the yen.
Asian stocks slumped on Wednesday as a sharp rise in U.S. bond yields unnerved investors ahead of key inflation data that could inform the pace of Federal Reserve policy easing. Short-term Treasury yields edged up after jumping to the highest since late July on Tuesday as the market reopened after the Veterans Day holiday, spurring the U.S. dollar to a more than three-month peak versus the yen.
Japan's wholesale inflation accelerated in October as renewed yen falls pushed up import costs for some goods, data showed on Wednesday, complicating the central bank's decision on how soon to raise interest rates.
Australia's Prime Minister Anthony Albanese said he told U.S. president-elect Donald Trump in a phone call the United States has a trade surplus with Australia and it was in Washington's interest to "trade fairly" with its ally. Trump has proposed a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products.
* Novavax (NVAX) drops 6% on cut to annual revenue forecast. * Honeywell (HON) jumps to record high as Elliott discloses stake. * Tesla ends 5-day rally with 6% drop. * Indexes down: Dow 0.86%, S&P 500 0.29%, Nasdaq 0.09% By Sin?ad Carew and Lisa Pauline Mattackal.
Cruise Economic Contribution Outpacing Global GDP WASHINGTON, Nov. 12, 2024 ?Cruise Lines International Association, the leading voice of the cruise industry, shared highlights from the association's new 2023 Global Economic Impact Study last week at the annual CLIA Cruise Forward conference in Miami.
- A look at the day ahead in Asian markets. Investors sobered up from post-election euphoria over Republican Donald Trump's victory and took some profits ahead of Wednesday's October U.S. CPI report, which kicks off a calendar thick with U.S. news events markets will be watching the rest of the week.
A look at the day ahead in Asian markets. Investors sobered up from post-election euphoria over Republican Donald Trump's victory and took some profits ahead of Wednesday's October U.S. CPI report, which kicks off a calendar thick with U.S. news events markets will be watching the rest of the week.
Brazil's central bank announced on Tuesday it will offer up to $4 billion in two swap auctions with repurchase agreements on Wednesday morning. The bank said it will hold the auctions at 10:30 a.m. local time on Wednesday, offering in each of them up to $2 billion.
The global economy relies on the ocean, with a value of key ocean assets estimated at USD $24 trillion ? equivalent to 3?5% of global GDP. G20 countries govern nearly half of the world?s coastline and are home to 60% of the world?s population.
Even with some recent bouts of volatility, it appears money market liquidity levels remain robust, a top New York Federal Reserve official said on Tuesday, suggesting the case for the Fed to press on with its balance sheet drawdown can proceed.
Major Wall Street indexes closed lower on Tuesday as investors booked some profits from a post-election rally and turned cautious ahead of U.S. economic data due this week. The three major indexes had rallied to record highs since the Nov. 5 U.S. election as investors bet on a boost to equities from President-elect Donald Trump's proposed tax cuts and the prospect of easier regulatory policies.
* Fed's rate cuts have not improved credit demand. * Commercial and industrial loan demand fell significantly. * Consumer credit card and auto loan demand also weakened.
* Novavax (NVAX) drops on cut to annual revenue forecast. * Honeywell (HON) jumps after Elliott discloses stake. * Russell 2000 falls more than 1% * Indexes down: Dow 0.52%, S&P 500 0.10%, Nasdaq 0.02% By Sin?ad Carew and Lisa Pauline Mattackal. Nov 12 - Wall Street's main indexes fell on Tuesday as investors booked profits from post-election gains and awaited U.S. inflation data due in the coming days.
- Minneapolis Federal Reserve Bank President Neel Kashkari said he feels U.S. monetary policy is currently "modestly restrictive," with short-term borrowing costs continuing to slow inflation and the economy, but not by a lot. "The U.S. economy is in a good place," Kashkari said at a Yahoo!
-U.S. banks saw weaker demand for a key category of business loans during the third quarter, while the demand picture for consumer credit card and auto loans also softened, according to a Federal Reserve survey on Tuesday that showed the Fed's pivot to lower interest rates has yet to improve credit demand.
Argentina's monthly inflation rate stood at 2.7% in October, landing below a Reuters poll forecast of 3.0% and down from 3.5% in September, data from the INDEC statistics agency showed on Tuesday. Inflation in the 12 months through September reached 193.0%, among the highest rates in the world, a touch below the poll forecast of 193.9% and slowing from a rate of 209.0% recorded the previous month.
Early Career Talent Receives Meaningful Work Experience TORONTO, Nov. 12, 2024 With the global unemployment rate at 13%?for those aged 15-24,? Geotab continues to step up by providing young people hands-on work experience. The program is designed to help early career talent from universities and colleges begin their journey in the working world.
- U.S. consumers in October grew more confident about inflation continuing to ease and in the health of the job market, and for the first time in five months they saw a lower risk of defaulting on their debt, a survey from the Federal Reserve Bank of New York showed on Tuesday.
Federal Reserve Governor Christopher Waller said Tuesday stablecoins are effectively "synthetic" dollars that can bring benefits to the financial system. Waller said these digital assets linked to the dollar "could have a lot of potential benefits" and "eliminate" inefficiencies in the financial system, as part of comments before The Clearing House Annual Conference 2024, held in New York.
Federal Reserve Governor Christopher Waller said Tuesday stablecoins are effectively "synthetic" dollars that can bring benefits to the financial system. Waller said these digital assets linked to the dollar "could have a lot of potential benefits" and "eliminate" inefficiencies in the financial system, as part of comments before The Clearing House Annual Conference 2024, held in New York.
Federal Reserve Governor Christopher Waller said on Tuesday that he believes the private sector should take the lead when it comes to payment sector innovations. "I hold the view that it is generally the private sector that can most reliably and efficiently provide goods and services to the economy.
-The Federal Reserve's policy rate continues to act as a brake on the resilient labor market and on inflation that is still above the 2% target, two U.S. central bankers said on Tuesday, a view that appears to argue for more interest rate cuts, even as both signaled they were not ready to judge how fast or by how much.
The company has secured partnerships with major biogas suppliers, green methanol product offtakers, equipment and technology corporations, and a licensing agreement with MIT. Emvolon, an MIT spun-off technology company that converts greenhouse gas emissions into carbon-negative fuels and chemicals, today announced several commercial and technical milestones.
Retail sales in Brazil rose less than expected in September but recovered from a fall in the previous month, as the strength of Latin America's largest economy keeps in focus amidst the central bank's fight against inflation.
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.
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