Japan's factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on Japanese manufacturers' production plans. The feeble business activity highlights challenges for the world's third-largest economy, which has been lagging behind peers in recovering from the pandemic.
Japan's factory output fell 2.6% in October from the previous month, government data showed on Wednesday, versus the median market forecast for a 1.5% fall. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to gain 3.3% in November and increase 2.4% in December, the data also showed.
- A look at the day ahead in Asian markets from Jamie McGeever. Federal Reserve Chair Jerome Powell could set the market tone for the rest of the year on Wednesday when he speaks on the U.S. economic outlook and labor market at an event in Washington.
U.S. Treasury yields rose on Tuesday as investors awaited
comments this week by Federal Reserve Chairman Jerome Powell and
labor market data for November that could reinforce expectations
the U.
* Canadian dollar falls 0.7% against the greenback. * Touches its weakest since Nov. 4 at 1.3645. * Canada's third-quarter GDP increases 2.9% * Canadian bond yields rise across curve. By Fergal Smith.
* Wall Street equities, MSCI global index in the red. * Oil prices rebound on China hopes. * Dollar makes a little progress in choppy session. * U.S. 10-year Treasury yields rise. By Sin?ad Carew and Tom Wilson.
The greenback edged lower
against the Japanese yen on Tuesday with Federal Reserve
chairman Jerome Powell due to speak on Wednesday, while the
Aussie dollar jumped as sentiment improved on hopes that ...
Brazilian central bank director Diogo Guillen said on Tuesday that markets are more sensitive to fiscal news and that fiscal developments enter into policymakers' decisions through the balance of risks for inflation.
- Directors at three of the Federal Reserve's 12 regional banks supported a smaller increase in a key emergency borrowing rate than the 75-basis point rate hike the U.S. central bank ultimately approved in early November, minutes of Fed discount rate meetings showed on Tuesday.
U.S. consumer confidence slipped to a four-month low in November, with households less keen to spend on big-ticket items over the next six months amid high inflation and rising borrowing costs, heightening the risks of a recession next year.
- The leaders of the International Monetary Fund and the World Trade Organization on Tuesday warned against the negative impact of deglobalization for the global economy, arguing instead for smart moves to diversify supply chains.
The ongoing COVID-19 pandemic and problems in China's real estate sector pose continued risks to China's economy, the head of the International Monetary Fund said on Tuesday, adding that the fund may have to revise its growth projection downwards.
Benchmark U.S. Treasury 10-year yields will fall next year as the Federal Reserve slows monetary tightening and eventually cuts interest rates to stimulate a dwindling economy, according to a forecast from Bank of America.
The National Bank of Ukraine is in talks with bank representatives, non-banking financial organizations, and the cryptocurrency market about plans for an electronic version of the hryvnia, Ukraine's legal currency. According to an official statement, the NBU aims to create an electronic hryvnia that could be used for a variety of purposes, including the issuance and exchange of virtual assets.
Benchmark U.S. Treasury 10-year yields will fall next year as the Federal Reserve slows monetary tightening and eventually cuts interest rates to stimulate a dwindling economy, according to a forecast from Bank of America.
Brazil's central government posted a primary budget surplus of 30.8 billion reais in October, Treasury data showed on Tuesday, above the 25.7 billion reais surplus expected by economists polled by Reuters. In the 12 months to October, the central government recorded a primary surplus of 85.7 billion reais, equal to 1.02% of gross domestic product.
Russia is open to relaxing restrictions on transactions by so-called unfriendly non-residents in exchange for the un-freezing of Russian assets abroad, its central bank said on Tuesday.
Brazil's central government posted a primary budget surplus of 30.8 billion reais in October, Treasury data showed on Tuesday, above the 25.7 billion reais surplus expected by economists polled by Reuters. In the 12 months to October, the central government recorded a primary surplus of 85.7 billion reais, equal to 1.02% of gross domestic product.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. Russia is open to relaxing restrictions on transactions by so-called unfriendly non-residents in exchange for the un-freezing of Russian assets abroad, its central bank said on Tuesday.
* Consumer confidence ebbs in November on rising inflation. * Labor market differential rises to 32.8 from 31.8. * Annual house price growth slows further in September. By Lucia Mutikani.
Hundreds of billions of euros in European Union recovery funds are allocated on the basis of data supplied by EU governments that the EU's statistics office Eurostat cannot verify, the European Court of Auditors said in a report on Tuesday.
* Market focus on Fed Chair Powell's speech on Wednesday. * Markets expect 50 bps rate hike from Fed in December. * Silver rises 2% By Seher Dareen. Gold prices rose 1% on Tuesday, helped by a retreat in the dollar and hopes around less aggressive rate hikes from the U.S. Federal Reserve going forward. Spot gold gained 0.8% to $1,755.29 per ounce by 10:17 a.m. ET.
* BANK OF CANADA TO AUCTION C$16 BILLION OF T-BILLS ON DEC. 6, FINAL CALL FOR TENDERS SHOWS. * BANK OF CANADA TO SELL C$9.2 BILLION 98-DAY T-BILLS, C$3.4 BILLION 182-DAY T-BILLS, C$3.4 BILLION 364-DAY T-BILLS Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/regular-treasury-bills/
U.S. Treasury yields rose
in choppy trading on Tuesday, as investors braced for a slew of
data starting on Wednesday, which could reinforce expectations
for a slower pace of Federal Reserve rate ...
* Scotiabank falls on larger loan loss provisions. * TC Energy (TRP), Suncor expect 2023 costs to rise. * GDP Q3 annualized data better than expected. By Johann M Cherian. Canada's main stock index bounced on Tuesday, tracking prices of crude oil and metals, although the Bank of Nova Scotia (BNS) kept gains in check after reporting a jump in loan loss provisions in the fourth quarter.
U.S. consumer confidence slipped to a four-month low in November, with households less keen to spend on big-ticket items over the next six months amid high inflation and rising borrowing costs, heightening the risks of a recession next year.
U.S. consumer confidence eased further in November amid persistent worries about the rising cost of living, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 100.2 this month from 102.2 in October. Consumers' 12-month inflation expectations increased to 7.2% from 6.9% last month.
National Bank of Canada is set to give its latest quarterly earnings report on Wednesday, 2022-11-30. Analysts estimate that National Bank of Canada will report an earnings per share of $1.65. National Bank of Canada bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
NEW YORK, Nov. 29, 2022 The Conference Board Consumer Confidence Index? decreased in November after also losing ground in October. "Consumer confidence declined again in November, most likely prompted by the recent rise in gas prices," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
* Canadian dollar falls 0.4% against the greenback. * Touches its weakest since Nov. 10 at 1.3557. * Canada's third-quarter GDP increases 2.9% * Canadian bond yields rise across steeper curve.
Royal Bank of Canada is set to give its latest quarterly earnings report on Wednesday, 2022-11-30. Analysts estimate that Royal Bank of Canada will report an earnings per share of $2.02. Royal Bank of Canada bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
StoneCo Ltd (STNE): * STONECO ANNOUNCES APPROVAL OF FOUNDERS' CORPORATE RESTRUCTURING BY THE BRAZILIAN CENTRAL BANK. * StoneCo Ltd (STNE) - AS A RESULT OF CORPORATE RESTRUCTURING, THERE WILL BE A DECREASE IN CONCENTRATION OF VOTES HELD BY OUR FOUNDING SHAREHOLDERS Source text for Eikon: Further company coverage:
StoneCo Ltd. (STNE) announced today that the Brazilian Central Bank has approved the technical requirement of change of control submitted by the Company amid a corporate restructuring involving its Founders, as announced by the Company on June 1, 2022.
- Bank of America Corp (BAC) chief executive officer Brian Moynihan said activity in the U.S. housing market will probably slow for two years as the Federal Reserve raises interest rates, according to an interview Tuesday on CNN.
Bank of America Corp (BAC) chief executive officer Brian Moynihan said activity in the U.S. housing market will probably slow for two years as the Federal Reserve raises interest rates, according to an interview Tuesday on CNN.
* EU-harmonized consumer prices up 11.3% * Dip due to easing energy prices. * Analyst: Underlying inflation high in 2023. By Miranda Murray and Balazs Koranyi. Germany's inflation cooled slightly in November, but remained near a record high, suggesting that while cost pressures have eased in Europe's largest economy they are unlikely to weaken the European Central Bank's resolve to tame prices.
South Africa's unreliable power supply and its high level of government debt are two of the main risks to its financial stability, the country's central bank said on Tuesday. Africa's most developed economy has seen 170 days of rolling blackouts this year due to a maintenance backlog of state utility Eskom's ageing coal-fired power plants.
HSBC Holdings PLC (HSBC): * HSBC AGREES TO SELL ITS BUSINESS IN CANADA TO ROYAL BANK OF CANADA. * PROPOSED DEAL FOR CASH CONSIDERATION OF CA$13.5BN. * HSBC GROUP'S ESTIMATED PRE-TAX GAIN OF C.US$5.7BN FROM DEAL. * HSBC GROUP'S CET1 RATIO ENHANCED BY ADDITIONAL C.130BPS OVER AND ABOVE EXISTING CAPITAL PLANS FROM DEAL.
* Market focus on Fed Chair Powell's speech on Wednesday. * Still expect further Fed rate hikes to weigh on gold - analyst. * Silver rises more than 1% By Arundhati Sarkar. Gold prices climbed as much as 1% on Tuesday as a pullback in the dollar outweighed pressure from hawkish remarks by U.S. Federal Reserve officials on interest rate hikes.
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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