Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries.
A gauge of British manufacturing activity released on Monday pointed to the sharpest contraction in nine months, as orders from domestic and foreign customers fell and ongoing supply chain disruption pushed up costs.
A gauge of British manufacturing activity released on Monday pointed to the sharpest contraction in nine months, as orders from domestic and foreign customers fell and ongoing supply chain disruption pushed up costs.
Euro zone manufacturing activity fell sharply last month and a further decline in demand likely dashed any hopes for an imminent recovery after the sector had showed some signs of stabilisation in October, a survey showed.
Euro zone manufacturing activity fell sharply last month and a further decline in demand likely dashed any hopes for an imminent recovery after the sector had showed some signs of stabilisation in October, a survey showed.
Falling orders extended a contraction in the Polish and Czech manufacturing sectors in November, surveys showed on Monday, as weakness in Germany kept up pressure. S&P Global's Polish Purchasing Managers' Index slipped to 48.9 in November from 49.2 in October, marking the first drop in five months.
Germany's manufacturing sector remained firmly entrenched in contraction territory in November as firms struggle with weak demand and competitive pressure, highlighting ongoing challenges for Europe's largest economy, a survey showed on Monday. The HCOB Germany Manufacturing Purchasing Managers' Index, compiled by S&P Global, held steady at 43.0, unchanged from October.
Spain's manufacturing sector expanded at a slower pace in November, hindered by the severe floods in the region of Valencia on the eastern coast, a survey showed on Monday, though confidence in future growth remained robust.
Turkish factory activity contracted for the eighth month in a row in November with output and new orders moderating, although the sector showed signs of recovery, a business survey showed on Monday.
- The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
Japan's two-year government bond yield hit a 16-year high on Monday as comments from the Bank of Japan's governor drove bets for the central bank to hike interest rates as soon as this month.
The European Central Bank should make future monetary policy decisions that are driven by upcoming risks rather than being backward-looking, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
* Dollar braces for payrolls, host of Fed speakers. * Yen off highs, ponder chance of BOJ rate hike. * Euro grapples with French politics, budget risk. By Wayne Cole. The dollar pushed higher again on Monday in what is shaping up to be a critical week for the prospect of U.S. rate cuts, while drawing verbal support from U.S. President-elect Donald Trump.
* European manufacturing activity fell sharply in November. * China's factory activity expands at fastest pace in five months. * Beijing's stimulus aids recovery, but domestic demand still weak. * Trump's proposed tariffs seen posing risks to global trade. By Jonathan Cable.
Singapore's central bank on Monday said it fined U.S. lender JPMorgan Chase (JPM) a civil penalty of S$2.4 million for failing to prevent and detect misconduct committed by its relationship managers.
Australia's central bank said on Monday that risks from non-bank lenders in securitisation are limited as the labour market remained resilient, supporting households and businesses, and the size of the sector remains small overall.
* Q3 capex up 8.1% year-on-year, accelerates from 7.4% gain in Q2. * Corporate recurring profits mark first fall in 7 quarters. * Capex data used to calculate revised GDP. * Preliminary data showed Q3 GDP rose an annualised 0.9% By Makiko Yamazaki.
China's factory activity expanded at the fastest pace in five months in November as new orders, including those from abroad, led to a solid rise in production, pushing manufacturers' optimism degree to an eight-month high, a private-sector survey showed on Monday.
* Caixin/S&P Global PMI rose to 51.5 in November, highest since June. * New export orders rose for first time in four months. * Chinese firms cautious on hiring despite improved economic conditions.
Oil prices were little changed on Monday, as hopes of stronger demand stemming from higher factory activity in China was largely offset by concerns that the U.S. Federal Reserve will not cut interest rates again at its December meeting. Brent crude futures settled 1 cent lower at $71.83 a barrel.
* Dollar braces for payrolls, host of Fed speakers. * Yen off highs, ponder chance of BOJ rate hike. * Euro grapples with French politics, budget risk. By Wayne Cole. The dollar crept higher on Monday in what is shaping up to be a critical week for the prospect of U.S. rate cuts, while the yen's recent rebound was underpinned by wagers on rising rates at home.
HONG KONG, Dec. 1, 2024 This year marks the 45th anniversary of diplomatic relations between China and Portugal, as well as the tenth year of?Fosun's (FOSUF) deep engagement in the Portuguese market. Fosun (FOSUF) adheres to its strategy of being "rooted in China, globally operated."
Japanese government bond yields jumped on Monday, as comments from the Bank of Japan's governor drove bets for the central bank to hike interest rates as soon as this month.
Japan's factory activity shrank at the fastest pace in eight months in November as soft demand prompted firms to trim production, a private-sector survey showed on Monday. The final au Jibun Bank Japan manufacturing purchasing managers' index slipped to 49.0 in November, the lowest level since March, from 49.2 in October.
* US nonfarm payrolls report for Nov due on Dec 6. * Market bets for Dec Fed meeting lean to 25 bp cut. * S&P 500 hovers at records, P/E ratio at over 3-yr highs. By Lewis Krauskopf.
China's manufacturing activity expanded for a second straight month in November, an official factory survey showed on Saturday, supporting policymakers' optimism that recent fresh stimulus will get the world's No. 2 economy back on track.
MOODY'S: * MOODY'S RATINGS CHANGES HUNGARY'S OUTLOOK TO NEGATIVE FROM STABLE, AFFIRMS BAA2 RATINGS. * MOODY'S: DECISION TO CHANGE OUTLOOK TO NEGATIVE REFLECTS DOWNSIDE RISKS RELATED TO QUALITY OF HUNGARY'S INSTITUTIONS & GOVERNANCE. * MOODY'S ON HUNGARY SAYS EXPECT DEBT AFFORDABILITY TO BE PARTIALLY REVERSED BY 2025 Source text:
* Economic data 'on track' to meet our forecast, Ueda tells Nikkei. * Ueda says 'big question mark' on U.S. outlook - Nikkei. * Repeats remark signalling BOJ on course for more rate hikes. * Wage, pass-through of labour costs, consumption are key. * Remarks keep alive chance of rate hike at December meeting. By Leika Kihara and Roushni Nair.
With an estimated $13 billion calendar on tap, demand for paper will be bolstered by the $16 billion of redemptions coming Monday while mutual fund inflows, this week at about $560 million and concentrated in the long-end, signal solid investor support. Munis are returning 1.73% in November as of Friday.
Brazilian President Luiz Inacio Lula da Silva nominated Nilton David, head trader at Bradesco bank, to serve as the next monetary policy director at the central bank starting in January, the institution said on Friday. The appointment was accompanied by two additional nominations, all of which must still be confirmed by the Senate.
Bank of Japan Governor Kazuo Ueda revealed in an exclusive interview with Nikkei newspaper that the central bank will base whether to hike interest rates on critical economic indicators, particularly wage and inflation data.
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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