* Aluminium hits highest since Nov. 25. * China's 2024 GDP expanded 5.0%, met official target. * U.S. tariffs in focus with Trump's Monday inauguration. * ANZ sees aluminium and copper supply deficit in 2025. By Polina Devitt.
The Russian rouble was flat against the U.S. dollar for a fourth consecutive session on Friday, as expectations of an easing of Russia-U.S. tensions under President-elect Donald Trump, higher oil prices and central bank forex sales offset the impact of new U.S. energy sanctions.
- U.S. equity funds saw a spike in outflows for the week ending Jan. 15, as the outlook for Federal Reserve rate cuts this year had dimmed while investors were cautious about the ongoing quarterly earnings season. According to LSEG Lipper data, investors withdrew a sharp $8.23 billion from U.S. equity funds during the week on top of a net $5.01 billion worth of sales in the prior week.
- U.S. equity funds saw a spike in outflows for the week ending Jan. 15, as the outlook for Federal Reserve rate cuts this year had dimmed while investors were cautious about the ongoing quarterly earnings season. According to LSEG Lipper data, investors withdrew a sharp $8.23 billion from U.S. equity funds during the week on top of a net $5.01 billion worth of sales in the prior week.
As investors seek assets that will shine under a Donald Trump presidency, one corner of the U.S. stock market expected to benefit from the Republican's policies has been stumbling. Shares of smaller U.S. companies have been under pressure, with the small-cap Russell 2000 last week marking a 10% correction from its November highs.
As investors seek assets that will shine under a Donald Trump presidency, one corner of the U.S. stock market expected to benefit from the Republican's policies has been stumbling. Shares of smaller U.S. companies have been under pressure, with the small-cap Russell 2000 last week marking a 10% correction from its November highs.
A look at the day ahead in U.S. and global markets from Mike Dolan. Salvos from a Federal Reserve governor and the incoming Treasury Secretary helped nail down this week's inflation-inspired retreat in worrisome U.S. Treasury yields before Donald Trump's inauguration as president on Monday.
A look at the day ahead in U.S. and global markets from Mike Dolan Salvos from a Federal Reserve governor and the incoming Treasury Secretary helped nail down this week's inflation-inspired retreat in worrisome U.S. Treasury yields before Donald Trump's inauguration as president on Monday.
U.S. equity funds saw a spike in outflows for the week ending Jan. 15, as the outlook for Federal Reserve rate cuts this year had dimmed while investors were cautious about the ongoing quarterly earnings season. According to LSEG Lipper data, investors withdrew a sharp $8.23 billion from U.S. equity funds during the week on top of a net $5.01 billion worth of sales in the prior week.
* Small-cap Russell 2000 has pulled back sharply from Nov highs. * Trump's pro-growth policies seen helping small cap stocks. * Slower Fed rate cuts, tariffs could weigh on small caps. By Lewis Krauskopf. As investors seek assets that will shine under a Donald Trump presidency, one corner of the U.S. stock market expected to benefit from the Republican's policies has been stumbling.
- Federal Reserve Bank of Cleveland President Beth Hammack said in an interview published in the Wall Street Journal on Friday that inflation remained a problem. "We still have an inflation problem.
Lithuania has committed to allocating 5% to 6% of its GDP for defence between 2026 and 2030, its foreign minister said on Friday. "Difficult times require bold decisions and leadership.
* STOXX 600 up 0.6%, FTSE, DAX at records. * Dollar hits one-month low to yen on Fed comments, hawkish BOJ. * Investors wary ahead of Trump's inauguration on Monday. By Samuel Indyk and Kevin Buckland.
Argentina likely logged the largest trade surplus in its history in 2024, a Reuters analyst poll released on Friday showed, on the back of libertarian President Javier Milei's bid to boost grains and energy exports in his first full year in office.
* 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 and Greta Rosen Fondahn.
- Demand for global equity funds declined sharply in the week through Jan. 15, as U.S. Treasury yields rose and expectations for the Federal Reserve's interest rate cuts fell following a robust jobs report. Global equity funds witnessed just $37.79 million worth of net purchases during the week, the smallest weekly buying since Dec. 18, 2024, as per LSEG Lipper data.
Demand for global equity funds declined sharply in the week through Jan. 15, as U.S. Treasury yields rose and expectations for the Federal Reserve's interest rate cuts fell following a robust jobs report. Global equity funds witnessed just $37.79 million worth of net purchases during the week, the smallest weekly buying since Dec. 18, 2024, as per LSEG Lipper data.
- Asian debt markets saw foreign outflows in December, for the second month in a row, reversing strong demand from earlier in 2024 on anticipated higher U.S. tariffs under President-elect Donald Trump, slower easing by the Federal Reserve, and reduced regional growth expectations.
Asian debt markets saw foreign outflows in December, for the second month in a row, reversing strong demand from earlier in 2024 on anticipated higher U.S. tariffs under President-elect Donald Trump, slower easing by the Federal Reserve, and reduced regional growth expectations.
* 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.
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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