* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Trump says Iran and Israel agree to ceasefire. * Wall St futures rise, Nikkei up 1.3% * Dollar extends pullback, Treasury yields inch up. By Wayne Cole and Stella Qiu.
Most metals on the London Metals Exchange and Shanghai Futures Exchange were rangebound on Tuesday as caution prevailed after U.S. President Donald Trump announced the Iran-Israel ceasefire. LME three-month copper was up 0.04% at $9671.5 per metric ton as of 0103GMT and SHFE most-traded copper gained 0.09% to 78,400 yuan.
Chicago soybean futures edged lower on Tuesday, weighed by favourable U.S. weather conditions and falling soyoil prices after U.S. President Donald Trump said a ceasefire has been agreed on between Iran and Israel, reducing concerns over potential crude oil supply disruptions. Wheat also declined, pressured by benign weather and harvest pressure, while corn slipped to a fresh low for the year.
Gold hit a near two-week low on
Tuesday after U.S. President Donald Trump announced that Iran
and Israel had agreed to a ceasefire to end their 12-day
conflict, reducing safe-haven demand for the ...
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Trump says Iran and Israel agree to ceasefire. * Wall St futures rise, Nikkei up 1.3% * Dollar extends pullback, Treasury yields inch up. By Wayne Cole and Stella Qiu.
With the dollar poised for its worst first-half performance since 1986, the selling may seem to be coming from everyone, everywhere, across every asset class. To some extent, that's true. Unsurprisingly, non-U.S. investors are responsible for the bulk of the selling, with equity-related selling pressure concentrated among European investors and fixed income-based selling mostly coming from Asia.
The dollar fell on Tuesday and the euro rose to its highest level since October 2021 after a ceasefire between Iran and Israel was announced, even as Federal Reserve Chair Jerome Powell repeated that he expects inflation to begin rising this summer.
The Brazilian central bank will hold an up to $1 billion spot dollar auction on Wednesday starting at 9:30 a.m. local time, it said in a statement on Monday. The central bank also announced in a separate statement a reverse FX swap auction of up to 20,000 contracts for the same day.
TRADING DAY. Making sense of the forces driving global markets. By Jamie McGeever, Markets Columnist?. Stocks flew, oil sank, and bond yields tumbled on Monday in a highly volatile start to the week, as traders digested Iran's response to the U.S. strikes on its nuclear sites and a string of dovish remarks from Federal Reserve officials.
TRADING DAY. Making sense of the forces driving global markets. By Jamie McGeever, Markets Columnist. Stocks flew, oil sank, and bond yields tumbled on Monday in a highly volatile start to the week, as traders digested Iran's response to the U.S. strikes on its nuclear sites and a string of dovish remarks from Federal Reserve officials.
* Indexes up: Dow 0.89%, S&P 500 0.96%, Nasdaq 0.94% * Tesla up on robotaxi launch in Texas. * US business activity moderates; price pressures building up. * Crude drops as Iran retaliation leaves shipping routes undisrupted. By Stephen Culp.
Bit Digital Inc (BTBT): * WHITEFIBER, INC. ANNOUNCES C$60 MILLION CREDIT FACILITY WITH ROYAL BANK OF CANADA FOR DATA CENTERS Source text: Further company coverage:
* Tesla up on robotaxi launch in Texas. * US business activity moderates; price pressures building up. * Crude drops as Iran retaliation leaves shipping routes undisrupted. By Stephen Culp. Wall Street rallied on Monday as prospects of the U.S. Federal Reserve cutting interest rates as early as July offset fears that Iran would disrupt crude transport in the Middle East.
Argentina's economy grew year-on-year for the second consecutive quarter and by the most since 2022 as the economy recovers from last year's recession while still facing some headwinds, official data showed on Monday.
Argentina's gross domestic product expanded 5.8% in the first quarter from the same quarter last year, official data showed on Monday. Analysts polled by Reuters had forecast a 6.1% expansion.
* Fed's Bowman says rate cuts may need to come soon. * Iran response to US bombings seen limited. * Fed's Powell to testify to US Congress this week. By Karen Brettell.
Holders of Argentina's 1.5 billion-euro-denominated GDP warrants filed on Monday for U.S. courts to recognize English court judgments that hold Argentina liable for that debt, ramping up the heat as Argentina reforms open a path toward capital market access.
* Indexes up: Dow 0.72%, S&P 500 0.75%, Nasdaq 0.91% * Tesla up on robotaxi launch in Texas. * US business activity moderates; price pressures building up. By Stephen Culp.
The Federal Reserve announced on Monday it was directing its supervisors to no longer consider "reputational risk" when examining banks, scrapping a metric that had been a focus of industry complaints. The Fed said in a statement it was removing references to that risk in its supervisory manuals and other documents, and directing examiners to focus on specific financial risks.
The Federal Reserve announced on Monday it was directing its supervisors to no longer consider so-called "reputational risk" when examining banks, scrapping a metric that had been a focus of industry complaints. The Fed said in a statement it was removing references to that risk in its supervisory manuals and other documents, and directing examiners to focus on specific financial risks.
Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that thus far the surge in tariffs has had a more modest impact on the economy relative to what was expected. "Somewhat surprisingly, thus far, the impact of tariffs has not been what people feared," Goolsbee said in public comments before the Milwaukee Business Journal mid-year outlook.
Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that thus far the surge in tariffs has had a more modest impact on the economy relative to what was expected. "Somewhat surprisingly, thus far, the impact of tariffs has not been what people feared," Goolsbee said in public comments before the Milwaukee Business Journal mid-year outlook.
* Indexes up: Dow 0.09%, S&P 500 0.28%, Nasdaq 0.40% * Tesla up on robotaxi launch in Texas. * US business activity moderates; price pressures building up. By Kanchana Chakravarty and Nikhil Sharma.
* Manufacturers face highest input costs since July 2022. * Employment rises, driven by manufacturing order backlogs. * Existing home sales increase in May, trend remains weak. By Lucia Mutikani.
The triple A ratings of Harvard and other U.S. Ivy League colleges should be able to withstand all but the most extreme and coordinated tax and endowment fund threats posed by Donald Trump's U.S. administration, S&P Global has said. Trump and Harvard have been battling over the president's allegations of on-campus anti-Semitism.
The triple A ratings of Harvard and other U.S. Ivy League colleges should be able to withstand all but the most extreme and coordinated tax and endowment fund threats posed by Donald Trump's U.S. administration, S&P Global has said. Trump and Harvard have been battling over the president's allegations of on-campus anti-Semitism.
Yields on U.S. Treasuries fell on Monday morning after Federal Reserve vice-chair Michelle Bowman said the first interest rate this year could come as soon as July. Yields were slightly lower on the session after the U.S. bombed Iran's nuclear sites over the weekend, raising geopolitical tensions, and extended their fall after Bowman's comments.
Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the U.S. central bank's top bank overseer, said Monday the time to cut interest rates is getting nearer as risks to the job market may be on the rise. "It is time to consider adjusting the policy rate," Bowman told a gathering held in Prague, Czech Republic.
U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said on Monday. The sales pace was the slowest for the month of May since 2009.
* Fed's Bowman says time to weigh cutting rates. * Bowman says open to July rate cut if inflation contained. * Bowman less worried tariffs will drive up inflation. By Michael S. Derby.
U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said on Monday. The sales pace was the slowest for the month of May since 2009.
U.S. business activity slowed marginally in June, though prices increased further amid President Donald Trump's aggressive tariffs on imported goods, suggesting that an acceleration in inflation was likely in the second half of the year. The anticipated rise in inflation has resulted in the Federal Reserve pausing its interest rate cutting cycle, putting pressure on the housing market.
NATO members have agreed to spend 5% of their gross domestic product on defence, the alliance's Secretary General Mark Rutte said on Monday, adding allies will invest in thousand more tanks and armoured vehicles. "The defense investment plan that allies will agree in The Hague introduces a new baseline 5% of GDP to be invested in defense.
Germany will boost defence spending to 3.5% of gross domestic product by 2029, sources said on Monday, aiming to send a strong signal with its 2025 budget ahead of this week's NATO summit in The Hague. Germany's total defence spending will go up from 95 billion euros in the draft budget for 2025 to 162 billion euros in the budget framework for 2029, the sources said.
By Jamie McGeever. With the dollar poised for its worst first-half performance since 1986, the selling may seem to be coming from everyone, everywhere, across every asset class. To some extent, that's true.
U.S. President Donald Trump will push NATO members to increase defense spending to 5% of GDP when he goes to the defense alliance summit on Tuesday, White House spokeswoman Karoline Leavitt said. "One of the main topics of discussion will be that 5% threshold that our NATO allies have to hit.
Wall Street rallied on Monday as prospects of the U.S. Federal Reserve cutting interest rates as early as July offset fears that Iran would disrupt crude transport in the Middle East. All three major U.S. stock indexes closed higher. "The rally is a bit surprising," said Jay Hatfield, CEO and portfolio manager at InfraCap in New York.
Wall Street rallied on Monday as prospects of the U.S. Federal Reserve cutting interest rates as early as July offset uncertainty about escalating turmoil in the Middle East. All three major U.S. stock indexes closed sharply higher. "The rally is a bit surprising," said Jay Hatfield, CEO and portfolio manager at InfraCap in New York.
Hedge fund leverage hit a five-year high last week, with speculators buying banks, trading companies and insurance firms, Goldman Sachs (GS) data showed, after U.S. interest rates held steady and just before U.S. attacks on?Iran's nuclear sites. The U.S. Federal Reserve held interest rates steady on Wednesday last week and indicated they were in no rush to cut interest rates.
Hedge fund leverage hit a five-year high last week, with speculators buying banks, trading companies and insurance firms, Goldman Sachs (GS) data showed, after U.S. interest rates held steady and just before U.S. attacks on Iran's nuclear sites. The U.S. Federal Reserve held interest rates steady on Wednesday last week and indicated they were in no rush to cut interest rates.
British business activity expanded modestly in June as new orders grew for the first time this year but employers cut jobs more quickly and worried about the conflict in the Middle East, a survey showed on Monday. The S&P Global UK Composite Purchasing Managers' Index, a gauge of the private sector economy, rose to 50.7 from 50.3 in May - inching further above the 50.0 growth threshold.
The euro zone economy flatlined for a second month in June, barely expanding as the bloc's dominant services industry showed only a small sign of improvement and manufacturing displayed none at all, a survey showed on Monday.
French private sector activity contracted further in June, as weakness in both the manufacturing and services sectors hit the euro zone's second-biggest economy, S&P Global said on Monday. The flash PMI for France's dominant services sector for June stood at 48.7 points, down from 48.9 points in May. A Reuters poll had forecast 49.2 points for the June flash services PMI.
Rising oil prices, Middle East tensions, a NATO meeting and a testimony by the U.S. Federal Reserve chief vie for market attention in the days ahead. Here's your heads up on the week in world markets from Alden Bentley in New York, Kevin Buckland in Tokyo, Amanda Cooper and Lucy Raitano in London and Andrew Gray in Brussels. 1/ STRAIT UP WORRIED.
-The U.S. bombing of Iran's nuclear sites injected fresh uncertainty into the outlook for inflation and economic activity at the start of a week chock full of new economic data and central banker commentary, including two days of Congressional testimony from Federal Reserve Chair Jerome Powell.
-The U.S. bombing of Iran's nuclear sites injected fresh uncertainty into the outlook for inflation and economic activity at the start of a week chock full of new economic data and central banker commentary, including two days of Congressional testimony from Federal Reserve Chair Jerome Powell.
The dollar fell on Monday after Federal Reserve policy maker Michelle Bowman said the U.S. central bank should consider interest rate cuts soon, and on rising expectations that Iran's response to the U.S. bombing of some nuclear sites in Iran will be limited.
Gold prices inched higher on Monday
as investors turned to safe-haven assets amid growing fears of a
broader Middle East conflict, with markets closely watching for
Iran's response to U.S.
Japan's manufacturing activity returned to growth in June after nearly a year of contraction, but demand conditions remain murky due to worries over U.S. tariffs and the global economic outlook, a private-sector survey showed on Monday.
The U.S. central bank should consider giving less forward guidance about its monetary policy intentions, particularly in uncertain times, San Francisco Federal Reserve Bank President Mary Daly said on Sunday. "Words have power, which is a great tool.
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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