The Greek economy will continue to grow at rates above 2% of GDP next year, outperforming most of its peers in eurozone, thanks to strong tourism and investments, the country's fiscal council said, citing the government's mid term economic plan.
Euro zone government bond yields edged higher on Monday after German inflation data led investors to slightly scale back their bets on future European Central Bank monetary easing moves. Germany's 10-year bond yield, the benchmark for the euro zone bloc, rose 2 basis points to 2.16%; it was down 0.5 bps before the German figures.
German inflation fell to its lowest level since February 2021 this month, preliminary data showed on Monday, helping European Central Bank doves build their case for another interest rate cut next month. German inflation eased slightly more than forecast to 1.8% in September, data from the federal statistics office showed.
Federal Reserve Chair Jerome Powell is scheduled to speak on Monday amid growing concerns among economists about potential policy mistakes and 2024 election risks.
Euro zone government bond yields edged higher on Monday before German inflation data later in the session, which could affect expectations for the European Central Bank monetary policy. Data showed on Friday that French and Spanish consumer prices rose less than anticipated in September, leading investors to increase their bets on future ECB rate cuts.
MSCI's global equities index fell on Monday and the dollar rose as the Federal Reserve Chair Jerome Powell dampened hopes for another big rate cut, while oil futures ended flat after a choppy session on concerns about an escalating conflict in the Middle East.
A mistake by the U.S. central bank in setting interest rates during the last phase of its inflation battle is the main risk that could undercut the economy over the next year, according to a new survey of economists released as Federal Reserve Chair Jerome Powell was set to speak on Monday.
More stocks are participating in the S&P 500's latest march to record highs, easing concerns over a rally that has been concentrated in a handful of giant technology names for much of 2024. The S&P 500 gained 5.5% in the third quarter. More than 60% of S&P 500 components outperformed the index this quarter, compared to around 25% in the first half of the year.
As the Swiss National Bank's new chairman Martin Schlegel takes office this week, the jury is out on the central bank's handling of the Credit Suisse crash and its takeover by UBS.
* Schlegel steps in amid a parliamentary investigation on Credit Suisse collapse. * Some experts have criticised the SNB's handling of the crisis. * Schlegel aims to maintain focus on price stability. * Discussions under way over tougher capital rules for UBS. By John Revill.
* Official factory PMI shrinks in Sept, albeit more slowly. * Private survey reading falls notably from August expansion. * Official services PMI cools for 1st time since December. * Expectations on fiscal aid rise to spur growth momentum. By Ellen Zhang, Ryan Woo.
China's services activity expansion slowed in September as new business growth hit its weakest in nearly a year even as exports sped up, a private-sector survey showed on Monday. The Caixin/S&P Global services purchasing managers' index dropped to 50.3 in September from 51.6 in August, the lowest since September 2023.
China's manufacturing activity shrank sharply in September as new orders at home and abroad cooled, pulling down factory owners' confidence to near record lows, a private-sector survey showed on Monday.
China's services activity expansion slowed in September as new business growth hit its weakest in nearly a year even as exports sped up, a private-sector survey showed on Monday. The Caixin/S&P Global services purchasing managers' index dropped to 50.3 in September from 51.6 in August, the lowest since September 2023.
China's manufacturing activity shrank sharply in September as new orders at home and abroad cooled, pulling down factory owners' confidence to near record lows, a private-sector survey showed on Monday.
China's manufacturing activity in September shrank for a fifth straight month, albeit at a slower pace than August, an official factory survey showed on Monday. The official purchasing managers' index nudged up to 49.8 in September from 49.1 in August, still below the 50-mark separating growth from contraction but beating a median forecast of 49.5 in a Reuters poll.
China's manufacturing activity in September shrank for a fifth straight month, albeit at a slower pace than August, an official factory survey showed on Monday. The official purchasing managers' index nudged up to 49.8 in September from 49.1 in August, still below the 50-mark separating growth from contraction but beating a median forecast of 49.5 in a Reuters poll.
The dollar rose on Monday after Federal Reserve Chair Jerome Powell adopted a more hawkish tone on the economy, leading traders to pare bets that the U.S. central bank will cut rates by 50 basis points again at its next meeting. Powell said recent revisions to data on economic growth, savings rates and personal income had removed some "downside risks" the Fed has been focused on.
Gold ticked up on Monday and was on track for its fourth straight quarterly gain, buoyed by hopes of another large U.S. rate cut and rising Middle East conflict, while investors awaited comments from Federal Reserve Chair Jerome Powell. FUNDAMENTALS. * Spot gold rose 0.2% at $2,662.3 per ounce, as of 0036 GMT.
MSCI's global equities index fell on Monday and the dollar rose as the Federal Reserve Chair Jerome Powell dampened hopes for another big rate cut, while oil futures ended flat after a choppy session on concerns about an escalating conflict in the Middle East.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei dives as markets ponder risk of higher rates. * China set to lower mortgage rates in stimulus rush. * Fed's Powell to speak ahead of payrolls test. * Oil prices subdued by supply despite Mideast strife. By Wayne Cole.
* * Three major cities lift key home purchase restrictions. * Measures aim to boost weak property market, consumption. China's central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market as the economy slows.
China's central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market as the economy slows.
Japan's factory output fell 3.3% in August from the previous month, versus a median market forecast for a 0.9% drop, government data showed on Monday. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect seasonally adjusted output to increase 2.0% in September and expand 6.1% in October.
- A look at the day ahead in Asian markets. Investors in Asia go into the last trading day of the quarter still riding high on the double dose of stimulus administered earlier in the month by the U.S. Federal Reserve and now by China. In the latest move, the People's Bank of China on Sunday said it would tell banks to lower mortgage rates for existing home loans by Oct. 31.
A look at the day ahead in Asian markets. Investors in Asia go into the last trading day of the quarter still riding high on the double dose of stimulus administered earlier in the month by the U.S. Federal Reserve and now by China.
In the face of a contentious U.S. presidential election, changing Federal Reserve policies, and potential recession threats, U.S. stocks have shown resilience and growth. What Happened: The S&P 500 Index has recorded its third successive week of gains, with a 5.1% increase in the third quarter, marking its best start to a year since 1997.
China's central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market as the economy slows.
* * Three major cities lift key home purchase restrictions. * Measures aim to boost weak property market, consumption. China's central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market as the economy slows.
The People's Bank of China on Sunday told commercial banks to start lowering interest rates on all existing housing loans, in a sweeping move to help lighten the mortgage burden on households hit by a slowing economy.
DOHA, Qatar, Sept. 29, 2024 QNB Group is pleased to announce that it has obtained all applicable regulatory approvals from Qatar Central Bank and Qatar Financial Market Authority to proceed with its share repurchase.
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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