Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. An interest rate decision is due in Australia in the meantime, with traders all but certain the central bank will keep rates steady, leaving the focus on the outlook and tone.
Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. An interest rate decision is due in Australia in the meantime, with traders all but certain the central bank will keep rates steady, leaving the focus on the outlook and tone.
After decades of deflation, Japan's economy looks poised to finally turn a corner. Lenders in the world's third-largest economy are now giving crash courses to younger staff to help clients navigate higher interest rates as many of these employees have no expertise in dealing with the vagaries of a traditional inflation environment.
China's services activity expanded at a quicker pace in November, a private-sector survey showed on Tuesday, as the upturn in new businesses were the best seen for three months amid reports of firmer market conditions.
China's services activity expanded at a quicker pace in November, a private-sector survey showed on Tuesday, as the upturn in new businesses were the best seen for three months amid reports of firmer market conditions.
Australia's current account slid into deficit in the September quarter as prices for some commodity exports fell and locals spent more money abroad, leaving trade as a drag on the economy overall. Other data from the Australian Bureau of Statistics on Tuesday showed government spending was surprisingly strong in the quarter, helping offset the drag.
Japan's service activity expanded at the slowest pace in a year in November, weighed by an accelerating decline in new exports and softer demand, however, the outlook for the sector remained upbeat, a business survey showed on Tuesday. The service sector has been a bright spot for the world's third-largest economy, helping offset the drag to growth from struggling manufacturing.
The British public's expectations for inflation over the medium to long term, which are closely watched by the Bank of England, rose in October, according to a survey published on Monday. Inflation expectations in five to 10 years' time picked up to 3.5% from 3.3% in September, the survey by U.S. bank Citi and polling firm YouGov (YUGVF) showed.
As we approach 2024, the U.S. brokerage industry stands at a critical juncture, eagerly awaiting a shift in fortunes after years of liquidity drainage due to rising interest rates. The team at Bank of America, headed by Craig Siegenthaler, CFA, forecasts a year marked by crucial transformations, primarily influenced by the projected rate cuts from the Federal Reserve.
* Alaska Air (ALK) drops on Hawaiian Holdings (HA) buyout deal. * Crypto stocks surge on bitcoin rally. By Noel Randewich and Shristi Achar A. Dec 4 - U.S. stocks ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year.
The dollar ticked higher on Monday, regaining some ground after falling for three straight weeks on bets that the U.S. Federal Reserve will soon be cutting interest rates, while bitcoin breached $42,000 for the first time since early 2022.
Underlying inflation pressures eased in October compared to the prior month, according to a report released on Monday by the Federal Reserve Bank of New York.
Underlying inflation pressures eased in October compared to the prior month, according to a report released on Monday by the Federal Reserve Bank of New York.
Benchmark 10-year yields rose from
three-month lows on Monday ahead of key employment data due this
week, though traders continued to price in the likelihood of the
U.S. Federal Reserve cutting ...
* BLACKROCK CIO OF GLOBAL FIXED INCOME RICK RIEDER SAYS I THINK FED IS DONE HIKING RATES- CNBC INTERVIEW. * BLACKROCK CIO OF GLOBAL FIXED INCOME RICK RIEDER SAYS WE HAVE TO ADDRESS DEBT IN THIS COUNTRY- CNBC Further company coverage:
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.
Log In Required
Line of Credit Log In Required
Publication Date