Euro zone borrowing costs were little changed on Friday, while U.S. Treasury yields marched higher after hawkish remarks from Federal Reserve Chair Jerome Powell bolstered bets on higher-for-longer U.S. interest rates. The euro zone debt market has been struggling for direction since Donald Trump's U.S. election victory earlier this month.
* Brent, US crude futures fall on the week. * China's oil refiners in Oct run 4.6% less crude year-on-year. * Major forecasters indicate slowing global crude demand growth. * Strong US economic data leaves Dec Fed rate cut in the balance. By Georgina McCartney.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Greed? zone on Thursday. U.S. stocks settled lower on Thursday, with the Dow Jones falling more than 200 points during the session as investors digested recent economic reports.
The dollar was set for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January.
Japanese government bond yields rose on Friday, as a weak yen raised bets for a Bank of Japan rate hike, while a hawkish turn by the U.S. Federal Reserve chief hurt sentiment.
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Japan's core consumer inflation likely cooled for the second straight month in October on slower growth in energy prices, a Reuters poll showed on Friday. The core consumer price index, which includes oil products but excludes fresh food prices, was expected to have risen 2.2% in October from a year earlier, from 2.4% growth in September, a poll of 19 economist showed.
* China's industrial output growth slowed in Oct, misses forecasts. * Retail sales up, boosted by holiday and Singles' Day. * Property sector remains weak, too early to call turn in demand. * Trump win poses threat to China growth, may bring more stimulus. By Kevin Yao, Ethan Wang and Joe Cash.
China's October industrial output grew 5.3% from a year earlier, slowing from September's pace of 5.4%, reflecting concern about confidence and demand woes confronting a sluggish economy and keeping alive calls for even more stimulus. Data released on Friday by the National Bureau of Statistics missed expectations for a rise of 5.6% in a Reuters poll of 43 analysts.
Oil prices settled down more than 2% on Friday as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts. Brent crude futures settled down $1.52, or 2.09%, to $71.04 a barrel.
China's central bank made its biggest daily cash injection through bond reverse repurchase agreements in open market operations in nearly five years on Friday. The People's Bank of China injected 981 billion yuan worth of seven-day reverse repos, to counteract factors such as maturing medium-term lending facility and tax payments, it said in an online statement.
A gauge of global stocks was poised for its biggest weekly drop in two months while U.S. Treasury yields continued their ascent as economic data and comments from Federal Reserve officials pointed to a slower pace of rate cuts ahead. The U.S. Commerce Department said retail sales rose 0.4% last month after an upwardly revised 0.8% advance in September.
A gauge of global stocks was set for its biggest weekly drop in two months and the 10-year U.S. Treasury yield hit its highest level in 5-1/2 months on Friday as economic data and comments from Federal Reserve officials suggested a slower pace of interest-rate cuts ahead.
The dollar was headed for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January.
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Japan's economy expanded by an annualised 0.9% over the July-September quarter, government data showed on Friday, slowing from the previous three months due to tepid capital spending though an unexpected pickup in consumption added a bright spot.
* Q3 GDP rises annualised 0.9% vs 0.7% forecast. * Consumption picks up to 0.9%, capital expenditure down. * Consumption a surprise but could be one off, says analyst. By Makiko Yamazaki and Satoshi Sugiyama.
Japan's economy expanded an annualised 0.9% in the July-September quarter, government data showed on Friday, compared with a median market forecast for a 0.7% increase. The rise in gross domestic product translated into a quarterly increase of 0.2%, matching the median estimate.
Japan's economy expanded an annualised 0.9% in the July-September quarter, government data showed on Friday, compared with a median market forecast for a 0.7% increase. The rise in gross domestic product translated into a quarterly increase of 0.2%, matching the median estimate.
BEIJING, Nov. 14, 2024 China is ready to work with Peru to champion true multilateralism, promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, Chinese President Xi Jinping said in a signed article published Thursday in Peruvian media outlet El Peruano.
- Federal Reserve Chair Jerome Powell on Thursday declined to say whether he would remain at the U.S. central bank as a board member after his term as chief expires in May 2026.
* Powell's chair term ends May 2026, board post ends Jan 2028. * No Fed chief has stayed after leader role in over 70 years. * Comment comes amid concerns about Fed independence under Trump. Federal Reserve Chair Jerome Powell on Thursday declined to say whether he would remain at the U.S. central bank as a board member after his term as chief expires in May 2026.
The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump's economic agenda and more.
Mexico's outlook was moved to negative from stable by Moody's Ratings on Thursday, as the major credit rating agency pointed to institutional and policy weakening that risks undermining the economy as well as government accounts.
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- A look at the day ahead in Asian markets. A warm reading on U.S. producer price inflation in October and hawkish comments by Federal Reserve chair Jerome Powell weighed on Wall Street and shouldn't distract Asian investors much from focusing on the incoming Trump administration. Markets were muted ahead of an afternoon speech by Powell.
A look at the day ahead in Asian markets. A warm reading on U.S. producer price inflation in October and hawkish comments by Federal Reserve chair Jerome Powell weighed on Wall Street and shouldn't distract Asian investors much from focusing on the incoming Trump administration.
Federal Reserve Chair Jerome Powell indicated Thursday the remarkable strength of the U.S. economy is not sending any signals that policymakers ?need to be in a hurry to lower rates. #8221; Powell?s remarks came at an event organized by the Dallas Regional Chamber on Thursday, just a week after his press conference following the November Federal Reserve meeting.
* US bond yields pare declines after Powell comments. * US producer prices rise as expected. * Initial jobless claims slightly below expectations. By Chuck Mikolajczak. A gauge of global stocks fell for a third straight session on Thursday while the dollar advanced after U.S. data and comments from Federal Reserve Chair Jerome Powell pointed to a slower path of rate cuts from the central bank.
* PPI rises 0.2% on monthly basis in October. * Weekly jobless claims lower than forecast. * Industrials lead sector losses with defense stocks dragging. * Walt Disney (DIS) up after beating Q4 earnings estimates. * Indexes down: Dow 0.47%, S&P 500 0.60%, Nasdaq 0.64% By Sin?ad Carew and Lisa Pauline Mattackal.
- Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House. "I think it's too early to reach judgments here" and "we don't really know what policies will be put in place," Powell said at a Dallas Fed event.
Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House. "I think it's too early to reach judgments here" and "we don't really know what policies will be put in place," Powell said at a Dallas Fed event.
This month is experiencing similar volatility as 2016 when generic yields traded higher by 50 to 70 basis points during November of that year, said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
* US producer prices rise in October. * US jobless claims fall in latest week. * Powell says Fed able to lower rates over time. * US yield curve flattens after Powell's remarks. By Gertrude Chavez-Dreyfuss and Alden Bentley.
Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investor hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy.
-Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday.
* US bond yields slip. * US producer prices rise as expected. * Initial jobless claims slightly below expectations. By Chuck Mikolajczak. A gauge of global stocks fell for a third straight session on Thursday while the dollar climbed, after U.S. labor market data and comments from Federal Reserve Chair Jerome Powell suggested a slower path of rate cuts from the central bank.
Most Latin American currencies ticked
up against the dollar on Thursday, with the Mexican peso leading
the charge as its central bank cut interest rates by 25 basis
points.
Mexico's peso ...
Uruguay's central bank held its benchmark interest rate at 8.50%, the monetary authority said on Thursday, saying inflation remained in line with forecasts and the economy is expected to grow in coming quarters. Inflation in the 12 months through October stood at 5.01%, according to Uruguay's national statistics agency, within the monetary authority's target range of 3% to 6%.
Ongoing economic growth, a solid job market, and inflation that remains above its 2% target mean the Federal Reserve does not need to rush to lower interest rates, Fed Chair Jerome Powell said on Thursday in remarks that may point to borrowing costs remaining higher for longer for households and businesses alike.Powell affirmed that he and his fellow policymakers still consider inflation to be ...
* Powell says central bank can deliberate policy carefully. * Traders expect fewer rate cuts in 2025. * Trump election victory clouds monetary policy outlook. By Ann Saphir and Howard Schneider.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of RiverSource Life Insurance Company and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York.
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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