* Dollar hits one-month low to yen on dovish Fed, hawkish BOJ. * Japan's Nikkei underperforms region as strong currency weighs. * Investors wary ahead of Trump's inauguration on Monday. By Kevin Buckland.
Spiking Treasury yields and the 'wrecking ball' dollar are creating a negative feedback loop that monetary authorities around the globe may be helping to sustain. Potential culprits include strong U.S. growth, sticky inflation, debt and deficit fears, as well as uncertainty surrounding incoming U.S. President Donald Trump's trade, immigration and 'America First' economic agenda.
* Yen soft but hovering near one-month high. * Dollar to snap six-week winning streak on shifting rate views. * Yuan steady after GDP data meets 2024 target of 5% * Markets await Donald Trump's return to the White House. By Ankur Banerjee.
GUANGZHOU, China, Jan. 16, 2025 In accordance with the government work report that the governor of Guangdong province delivered at the Third Session of the 14th Guangdong Provincial People's Congress on January 15, 2025, the province's GDP was estimated to surpass 14 trillion?yuan?in 2024, ranking first in China for 36 consecutive years, and its total imports and exports increased by 9.8% year-...
The Bank of Japan is likely to raise interest rates next week barring any market shocks when U.S. President-elect Donald Trump takes office, and maintain a pledge to keep pushing up borrowing costs if the economy continues to recover, said five sources familiar with its thinking.
Japanese government bond yields slipped on Friday after U.S. Treasury yields fell overnight following remarks from Federal Reserve Governor Christopher Waller indicating that multiple U.S. rate cuts were possible this year.
* 24. * Void of Trump-driven shock, BOJ seen hiking rates to 0.5% * Focus shifting to BOJ's guidance on future policy path. * BOJ unlikely to give clarity on pace, timing of next move. * No major change expected in BOJ's hawkish policy guidance. By Leika Kihara.
India's central bank is conducting buy/sell dollar/rupee swaps alongside selling dollars in the spot market to support the rupee, traders said, which fuelled a further drop in forward premiums. The Reserve Bank of India's buy/sells swaps are largely for spot over June, July and December, according to traders. The 1-year forward implied yield dropped to 2.36% and is down 18 basis points this week.
* Fed's Waller says 3 or 4 rate cuts possible this year. * Silver on track for third weekly gain in a row. * Palladium faces biggest weekly decline since August. * Trump set to begin his second term next week. By Rahul Paswan.
* Bessent makes Senate debut as Trump's economic point man. * Hedge fund manager a vocal advocate for Trump's tariff agenda. * Bessent says US needs stronger sanctions on Russian oil. * High debt curbs US crisis-fighting fiscal capacity, Bessent says. * Bessent vows to maintain dollar reserve currency status. By David Lawder.
President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.
Prices of base metals edged higher on Friday, as support from a softer dollar and expectations of further U.S. rate cuts offset uncertainty over potential tariffs from U.S. President-elect Donald Trump. Three-month copper on the London Metal Exchange was up 0.4% at $9,267 a metric ton, as of 0713 GMT, hitting a fresh five-week high.
In what could be interpreted as another optimistic signal for cryptocurrencies, Scott Bessent, President-elect Donald Trump?s nominee for Treasury Secretary, argued against the concept of?a central bank digital?currency in the U.S. on Thursday. What Happened: Bessent was taking questions from members of the Senate Finance Committee for confirmation to the Treasury Department.
The Reserve Bank of India likely sold U.S. dollars before the local spot market opened on Friday to support the rupee, without which the currency would have hit a new all-time low, traders said. The rupee was at 86.5675 per dollar at 9:06 a.m. IST, marginally lower than the previous session.
The yuan strengthened
against the dollar on Friday and looked set for its first weekly
gain in over a month, after a slew of data showed China's
economy ended 2024 on better footing than expected.
The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.
MSCI's global equities index rose on Friday while U.S. Treasury yields turned higher with the dollar as upbeat economic data and earnings appeared to help investors shrug off any jitters ahead of the U.S. presidential inauguration.
MSCI's global equities index rose on Friday while U.S. Treasury yields turned higher with the dollar as upbeat economic data and earnings appeared to help investors shrug off any jitters ahead of the U.S. presidential inauguration.
* Dollar droops after dovish comments from Fed Governor Waller. * Chinese shares supported as 2024 GDP hits Beijing's 5% target. * Yen hits new high on growing bets for BOJ rate hike next week. * Japan's Nikkei underperforms region as strong currency weighs. By Sin?ad Carew and Kevin Buckland.
China's economy grew 5% last year, matching the government's target, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.
Most base metals traded within a tight range on Friday, as support from a softer dollar and expectations of further U.S. interest rate cuts was partially offset by uncertainty over potential tariffs from U.S. President-elect Donald Trump. Three-month copper on the London Metal Exchange held its ground at $9,241 a metric ton by 0128 GMT.
* China's Q4 GDP grows 5.4% y/y, beating market forecast. * 2024 GDP expands 5.0%, meeting the government's target. * But growth was unbalanced, led by industry and exports. * Consumption lags as workers faces uncertainties. * 2025 outlook clouded by trade tensions as Trump returns.
China's economy grew 5.4% in the fourth quarter from a year earlier, official data showed on Friday, significantly beating analysts' expectations and enabling the government to meet its annual growth target.
China's industrial output in December rose 6.2% from a year earlier, quickening from a 5.4% pace in November, pointing to resilience in the manufacturing sector amid stimulus measures, data showed on Friday. The official data from the National Bureau of Statistics beat expectations for a 5.4% rise in a Reuters poll of 38 analysts.
China's economy grew 5.4% in the fourth quarter from a year earlier, official data showed on Friday, significantly beating analysts' expectations and enabling the government to meet its annual growth target.
Oil prices climbed on Friday, heading for a fourth weekly gain, driven by concerns over tighter supply following U.S. sanctions on Russian oil producers and signals from a Federal Reserve official of potential interest rate cuts. Brent crude futures rose 13 cents, or 0.2%, to $81.42 per barrel by 0113 GMT, after declining 0.9% in the previous session.
* Yen hovering near one-month high. * Dollar on back foot as investors digest data, Waller remarks. * China's GDP data due; analysts expect target of 5% to be met. * Markets await Donald Trump's return to the White House. By Ankur Banerjee.
Gold prices firmed on Friday and were headed for a third straight week of gains after U.S. data this week hinted that the Federal Reserve might continue easing interest rates this year. FUNDAMENTALS. * Spot gold was flat at $2,715.21 per ounce as of 0047 GMT, hovering near a more than one-month peak hit on Thursday.
KBRA assigns a rating of BBB+ to Blue Owl Credit Income Corp.'s $400 million, 6.60% senior unsecured notes due September 15, 2029, which are an add-on to the $500 million 6.60% senior unsecured notes with original settlement date of May 14, 2024.
The World Bank's Global Economic Prospects report, released Thursday, highlights a fragile outlook as inflation, trade disruptions, geopolitical tensions and policy uncertainty weigh on momentum. The global economy is expected to stay stuck at 2.7% growth in 2025-?26, a pace too weak to drive real economic progress.
China's economy likely rebounded in the fourth quarter as several rounds of policy stimulus kicked in, enabling the government to largely meet its 2024 growth target, though the risk of new U.S. tariffs could hold back a broader recovery. A Reuters poll predicts gross domestic product grew 5.0% in October-December from a year earlier, quickening from the 4.6% pace in the third quarter.
* China's Q4 GDP growth seen at 5.0%, vs 4.6% in Q3. * 2024 growth estimated at 4.9%, largely meeting official target. * GDP, Dec activity data due 0200 GMT on Friday. * 2025 outlook clouded by trade tensions as Trump returns. * Policymakers pledge to ramp up stimulus this year. By Kevin Yao.
SALT LAKE CITY, Jan. 16, 2025 Extra Space Storage Inc. (EXR), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, today announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $350 million aggregate principal amount of additional 5.500% senior notes due 2030.
- A look at the day ahead in Asian markets. Relief from the positive U.S. and UK inflation surprises this week appears to have evaporated, at least as far as equity markets are concerned, even as Treasury yields and the dollar continue to drift lower into the last trading day of the week. Asian markets open on Friday against a mixed global backdrop.
A look at the day ahead in Asian markets. Relief from the positive U.S. and UK inflation surprises this week appears to have evaporated, at least as far as equity markets are concerned, even as Treasury yields and the dollar continue to drift lower into the last trading day of the week. Asian markets open on Friday against a mixed global backdrop.
Munis "responded in part to a better UST session [Wednesday] but weren't in a position from a supply standpoint to attempt to match the 10-15 basis point rally in taxables," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
* Morgan Stanley (MS) up after higher Q4 profits. * UnitedHealth (UNH) falls on missing quarterly sales estimates. * Investors parse retail sales, jobless claims data. By Chuck Mikolajczak. U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts.
President-elect Donald Trump?announced plans Thursday to nominate private equity CEO Bill Pulte as director of the Federal Housing Finance Agency. What To Know: If Trump?s selection is confirmed, Pulte will become the top housing regulator, overseeing mortgage giants Fannie Mae and Freddie Mac , which have been in conservatorship since the 2008 financial crisis.
Former Bank of Canada governor Mark Carney announced on Thursday that he is running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party. Carney, 59, launched his bid at an event in the western city of Edmonton, casting himself as an outsider who was not part of Trudeau's unpopular government.
* Fed's Waller says three or four cuts possible this year. * US retail sales, jobless claims softer than expected. * Philly Fed Index surges, analysts say could be an aberration. * US 2/10 yield curve flattens slightly. * US rate futures price in 43 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
Treasury Secretary nominee Scott Bessent sparred with the Senate Finance Committee over the future direction of fiscal policy in the Trump administration that will be trying to tackle major tax legislation.
* Wall St muted after Europe, Asia gains. * Trump's Treasury pick in the spotlight. * Asian stocks boosted by tech, Europe by luxury, chipmakers. * Yen rises on growing rate hike wagers. By Sin?ad Carew and Alun John.
-U.S. central bankers project more limited interest-rate cuts in 2025 than the full percentage point of reductions they delivered in 2024, given slower progress toward their 2% inflation goal, a still-strong labor market, and a lot of uncertainty over the potential impact of tax cuts, tariffs and other economic policies in Donald Trump's second term as president.
Scott Bessent, who is immersed in the Senate confirmation process as President-elect Donald Trump's Treasury secretary nominee, only addressed Crypto (CRCW) briefly.
Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System, today released the following statement in response to President Trump?s nomination of Bill Pulte as director of the Federal Housing Finance Agency.
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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