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.
* Futures down: Dow 0.16%, S&P 500 0.25%, Nasdaq 0.31% U.S. stock index futures dipped on Tuesday after Wall Street's rally over the past few days following election results as traders awaited key inflation data later in the week for more signals on the country's economic and monetary policy outlook.
Brazil's central bank said on Tuesday that further deterioration in inflation expectations could extend the monetary tightening cycle, with its policy conduct remaining "a fundamental factor" in steering expectations back towards the 3% target.
Protectionist policies from the incoming U.S. administration will hamper global growth and Europe must be better prepared than in 2018, European Central Bank policymakers warned on Tuesday.
Protectionist policies from the incoming U.S. administration will hamper global growth and Europe must be better prepared than in 2018, European Central Bank policymakers warned on Tuesday.
The policies that U.S. President-elect Donald Trump will implement once in office will likely put upward pressure on inflation on both sides of the Atlantic, European Central Bank policymaker Robert Holzmann said on Tuesday. "He means what he has said and he will probably implement it faster than we expect.
* Alibaba (BABA), JD.com (JD) say shopper numbers rose, mum on sales specifics. * Apple (AAPL), Xiaomi (XIACF) among brands breaking 1 bln yuan in sales on Alibaba (BABA) platforms. * Home appliances and collectible toys among standout categories. By Casey Hall.
Euro zone government bond yields rose slightly on Tuesday as investors awaited possible clues about the European Central Bank monetary easing path from German economic data. The ZEW Economic Research Institute will issue figures on German investor morale later in the session.
South Korean President Yoon Suk Yeol will visit Peru and Brazil on Nov. 14-21 to attend the Asia-Pacific Economic Cooperation and Group of 20 summits, his office said on Tuesday.
* Alibaba (BABA), JD.com (JD) say shopper numbers rose, mum on sales specifics. * Apple (AAPL), Xiaomi (XIACF) among brands breaking 1 bln yuan in sales on Alibaba (BABA) platforms. * Home appliances and collectible toys among standout categories. By Casey Hall.
Australian business confidence rebounded to its highest in almost two years in October as sales proved resilient and pressure on input costs eased, a survey showed on Tuesday. The survey from National Australia Bank (NAUBF) showed its index of business conditions held at +7 in October.
Australian consumer sentiment rose sharply in November for a second straight month, reaching a 2-1/2-year high with the mood on the economy and finances finally turning optimistic, a survey showed on Tuesday.
Spain's former central bank governor, Pablo Hernandez de Cos, was picked on Monday to lead the Bank for International Settlements, the near century-old institution that brings together rate-setters from around the world. De Cos will replace Mexico's Agust?n Carstens as the BIS's General Manager on July 1, 2025, for a five-year term.
The Bank for International Settlements said on Monday it has appointed former European Central Bank official Pablo Hernandez de Cos as its general manager for a five-year term, starting July 1 2025. De Cos previously headed the Bank of Spain.
Brazil's government debt as a share of gross domestic product declined in September from the previous month, marking its first drop after 14 straight months of increases, central bank data showed on Monday. The debt of Latin America's largest economy fell to 78.3% in September from 78.5% the previous month, also coming in below the 78.8% forecast by economists polled by Reuters.
Brazil's government debt as a share of gross domestic product decreased to 78.3% in September from 78.5% the month before, central bank data showed on Monday. The Brazilian public sector posted a primary deficit of 7.34 billion reais for the month, smaller than the 8 billion reais deficit forecast by economists polled by Reuters.
A look at the day ahead in U.S. and global markets from Mike Dolan The dollar continues to feed on a mix of post-election tariff and tax cut speculation, China's struggle with deflation and Germany's simmering political crisis - with the euro plumbing its lowest levels in almost five months.
Within weeks of Donald Trump's 2016 election, U.S. Federal Reserve policymakers began mulling the impact of expected tax cuts and tariffs on the economy, penciling in rough estimates of what was to come, with some among them concluding higher interest rates may be needed to keep inflation in check.
* Fed raised rates faster than expected after Trump's 2016 election. * Trump's new economic measures may clash with Fed's inflation control efforts. * Powell highlights strong economy but acknowledges lingering high price effects. By Howard Schneider.
Chinese banks extended 500 billion yuan in new loans in October, falling sharply from September and trailing behind analysts' expectations, as a ramp-up of policy stimulus to buttress a wavering economy fell short of boosting credit demand.
Japan's service-sector sentiment worsened and bankruptcy cases rose in October, data showed on Monday, casting doubt on the central bank's view the country was on track to meet its 2% inflation target driven by robust domestic demand.
- New Zealand's central bank will be under greater pressure to ease policy aggressively this month as its rate meeting calendar leaves an unusually long three-month gap until its next gathering, arguing for extra insurance against an economic slump.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the ?Neutral? zone on Friday. U.S. stocks settled higher on Friday, with the Dow Jones and S&P 500 recording their best week in the year following the election of Donald Trump as the 47th U.S. president.
* Dollar rebounds on yen, holds recent gains on euro. * Market trims scope for Fed rate cuts, BOJ hikes. * Week includes US CPI, China activity data. By Wayne Cole. The dollar edged higher on Monday as markets braced for U.S. inflation data and a throng of Federal Reserve speakers this week, while the yuan nursed a hangover from Beijing's latest underwhelming stimulus package.
* BOJ braced for volatility post-U.S. election, summary shows. * Some members highlighted yen moves as key to policy outlook. * One called for rate hike after pause to assess U.S. developments. * BOJ kept rates steady at Oct meeting, near-term hike eyed. By Leika Kihara.
Bank of Japan policymakers were divided on how soon they could raise interest rates with some warning of the risk of renewed market volatility after the U.S. presidential election, a summary of opinions at their October meeting showed on Monday.
The dollar started in a cautious mood on Monday as markets braced for U.S. inflation data and a throng of Federal Reserve speakers this week, while the yuan nursed a hangover from Beijing's latest underwhelming stimulus package.
The dollar started in a cautious mood on Monday as markets braced for U.S. inflation data and a throng of Federal Reserve speakers this week, while the yuan nursed a hangover from Beijing's latest underwhelming stimulus package.
As things currently stand, there is no reason for the European Central Bank not to cut interest rates in December but the decision will be based on the data available then, ECB policymaker Robert Holzmann said in remarks published on Sunday.
* Trump has vowed to deport immigrants in U.S. illegally. * Kashkari says the "implications are not entirely clear" Widespread deportation of foreign-born workers from the United States probably would disrupt some businesses, but the impact on inflation and the broad economy would depend on the details, Minneapolis Federal Reserve President Neel Kashkari said on Sunday.
Widespread deportation of foreign-born workers from the United States probably would disrupt some businesses, but the impact on inflation and the broad economy would depend on the details, Minneapolis Federal Reserve President Neel Kashkari said on Sunday.
The Bank of Japan hopes to maintain its 2% inflation target even if climate change causes long-term shocks to future price developments, Governor Kazuo Ueda said on Saturday. But Ueda said the BOJ will "monitor carefully" how the economic impact of climate change, as well as the fallout from government measures to promote the green transition, could affect inflation expectations.
Minneapolis Federal Reserve President Neel Kashkari said he was not concerned about a potential clash between the Fed and President-elect Donald Trump because both major U.S. political parties want inflation lower. "I am not concerned about the dynamics in Washington," following Tuesday's election of Trump, Kashkari said in an interview on Fox News.
Minneapolis Federal Reserve President Neel Kashkari said he was not concerned about a potential clash between the Fed and President-elect Donald Trump because both major U.S. political parties want inflation lower. "I am not concerned about the dynamics in Washington," following Tuesday's election of Trump, Kashkari said in an interview on Fox News.
More than 800 leading Thai economists, including four former governors of the Bank of Thailand, warned on Saturday of political interference in selecting the central bank's board chairman, saying it could damage long-term economic stability.
* FITCH: REVISED SPAIN'S OUTLOOK TO POSITIVE FROM STABLE, WHILE AFFIRMING ITS LONG-TERM FOREIGN-CURRENCY ISSUER DEFAULT RATING AT 'A-' * FITCH: POSITIVE OUTLOOK REFLECTS IMPROVING STRUCTURAL FACTORS THAT INCREASED SPAIN'S GDP POTENTIAL, STRENGTHENED ITS RESILIENCE TO EXTERNAL SHOCKS.
* US 10-year, 30-year yields post largest weekly drop in 2 months. * US 2/10 yield curve hits flattest level in a month. * US one-year inflation expectations inch higher in November. * US rate futures price in one cut in December, two in 2025. By Gertrude Chavez-Dreyfuss, Alden Bentley.
Canada's main stock index slipped on Friday, weighed down by mining and energy shares, as markets trimmed bets for a 50-basis-point interest rate cut by the Bank of Canada next month after domestic jobs data.
* Consumer sentiment rises in November. * Major U.S. indexes notch weekly gains. * China ADRs fall after stimulus measures disappoint. By Chuck Mikolajczak.
* Airbnb (ABNB), Pinterest (PINS) fall after results. * Indexes set for weekly gains. * China ADRs slip after stimulus measures. * Indexes: Dow up 0.63%, S&P 500 up 0.42%, Nasdaq flat. By Chuck Mikolajczak.
U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining more than 250 points on Friday. The Dow traded up 0.62% to 44,001.69 while the NASDAQ fell 0.01% to 19,268.55. The S&P 500 also rose, gaining, 0.40% to 5,997.19. Check This Out: How To Earn $500 A Month From Nvidia Stock After Trump Win Leading and Lagging SectorsUtilities shares surged by 1.6% on Friday.
* Loonie weakens 0.5% against U.S. dollar. * Canada adds 14,500 jobs in October. * Price of U.S. oil decreases nearly 3% * 10-year yield eases 2.2 basis points. By Fergal Smith. The Canadian dollar weakened against its U.S. counterpart on Friday as oil prices fell and domestic employment data supported bets for another outsized interest rate cut by the Bank of Canada next month.
* Airbnb (ABNB), Pinterest (PINS) fall after results. * Indexes set for weekly gains. * China ADRs slip after stimulus measures. * Indexes: Dow up 0.57%, S&P 500 up 0.34%, Nasdaq down 0.06% By Lisa Pauline Mattackal and Ankika Biswas.
- Major brokerages including J.P.Morgan, Barclays and Goldman Sachs retained their view of a 25-basis-point interest-rate cut by the U.S. Federal Reserve in December, after the central bank cut at a similar rate at its Nov. 6-7 meeting. The Fed's policymakers have begun taking stock of what could become a more complex economic landscape when President-elect Donald Trump takes office next year.
KBRA releases research that provides an overview of the manufactured housing sector with a focus on consumer lending. Despite softening home prices and the Federal Reserve signaling it will continue lowering interest rates, the costs of single-family homeownership remain significantly higher than before the pandemic. Click here to view the report.
Crypto analyst Benjamin Cowen suggests that Bitcoin dominance might continue climbing, even as it hits his long-standing 60% target, following the Fed's recent 25 basis point interest rate cut.
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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