Global bank stocks tanked on Friday, exacerbating a punishing selloff in the wake of U.S. President Donald Trump's sweeping tariffs, Japanese banks tanked, European banking stocks slid 7% and were set for the biggest one-day fall since February 2022, while safe-haven U.S. Treasuries gained. Traders meanwhile priced in more than 100 basis points of Federal Reserve rate cuts this year.
* $200 million loan to be signed with KKR's partner, document says. * Deal to be signed at event with Boeing (BA), schedule shows. * Vietnam scrambling to avoid U.S. duties for big trade surplus. By Phuong Nguyen.
With sweeping new U.S. tariffs now in play globally and markets shaken as a result, Federal Reserve Chair Jerome Powell on Friday will add his voice to a growing debate at the central bank over whether the Trump administration's new policies are more likely to stoke higher inflation or undercut growth and employment so much the Fed will have to respond.
* Settlements climb amid growing uncertainty over market volatility, tariffs. * Corporations and activists are more eager to find common ground. * New director candidates often bring industry expertise. By Svea Herbst-Bayliss.
Ukraine's GDP warrant - a bond-like debt instrument that only pays out when the economy grows strongly - was on track for its biggest weekly loss on Friday since just after Russia's full-scale invasion in February 2022.
The U.S. reciprocal tariffs will stymie economic growth and lift inflation, forcing the Federal Reserve to start lowering interest rates from the end of this year, while the European Central Bank could cut rates as soon as this month, Nomura said.
Japanese stocks sank on Friday to their lowest since last August, marking their sharpest weekly drop in five years, as fears of a global recession in the wake of U.S. President Donald Trump's sweeping tariffs gripped markets. The Nikkei average closed down 2.75%, registering a 9% drop for the week, its steepest weekly decline since March 2020.
* Investors asses the impact of US tariffs. * US dollar hits a 6-month low versus safe-haven Swiss Franc. * Trump levies spur traders to increase bets on central banks easing. * Analysts warn of dollar losing preferred currency status. By Kevin Buckland and Stefano Rebaudo.
* BOJ may hike rates to 0.75% in May or June, Sakurai says. * Board to cut fiscal 2025 growth f'cast in quarterly report. * BOJ will aim to hike rates to 1% under current rate-hike cycle. By Leika Kihara and Takahiko Wada.
-European shares dipped on Friday, heading for their steepest weekly loss in three years, as investors grappled with prospects of a global recession after U.S. President Donald Trump announced sweeping tariffs on trading partners. The pan-European STOXX index fell 1.8% at 0815 GMT, taking its losses for the week to 5%, the sharpest weekly decline since February 2022.
Japanese banks tanked on Friday and stocks globally extended a punishing selloff in the wake of U.S. President Donald Trump's sweeping tariffs, helping drive a rally in U.S. Treasuries and supporting gold near a record peak. Benchmark 10-year U.S. Treasury yields slid under 4% and traders priced in more than 100 basis points of Federal Reserve rate cuts this year.
Data shows markets are pricing in four rate cuts in 2025 ? 0.25 bps each in June, July, September and December. Rate cuts occur when a central bank, like the Federal Reserve, lowers interest rates to stimulate economic growth by making borrowing cheaper.
Data shows markets are pricing in four rate cuts in 2025 ? 0.25 bps each in June, July, September and December. Rate cuts occur when a central bank, like the Federal Reserve, lowers interest rates to stimulate economic growth by making borrowing cheaper.
* Safehaven yen heads for 6-month high on recession worries. * Aggressive Trump levies spur traders to ramp up Fed easing bets. * Analysts warn of dollar losing preferred currency status. By Kevin Buckland.
Japanese stocks sank on Friday to their lowest since last August, marking their sharpest weekly drop in five years, as fears of a global recession in the wake of U.S. President Donald Trump's sweeping tariffs gripped markets. The Nikkei average closed down 2.75%, registering a 9% drop for the week, its steepest weekly decline since March 2020.
Japanese government bond yields tanked on Friday as bets for the Bank of Japan's interest rate hike receded, prompting investors to unwind positions they made for the policy tightening. The 10-year JGB yield fell 17.5 basis points to 1.185% to its lowest level since January 29, the biggest decline since August 5, and is down nearly 37 bps this week, their steepest weekly fall since 1992.
Japanese stocks sank on Friday to their lowest levels since last August, and were set for their sharpest weekly drop in five years, as fears of a global recession in the wake of U.S. President Donald Trump's sweeping tariffs gripped markets. As of 0420 GMT, the Nikkei index was down 3.6% at 33,474.56, and on course for a weekly decline of nearly 10%, if losses hold.
Singapore's trade minister said the wealthy financial hub was disappointed that the U.S. had imposed a 10% tariff on its exports despite it having a free-trade agreement and running a trade deficit with the United States.
New U.S. tariffs announced by President Donald Trump may delay, but likely won't derail, the Bank of Japan's plan to raise interest rates further as policymakers seek to avoid renewed yen falls that would worsen inflationary pressures.
* Nonfarm payrolls forecast increasing 135,000 in March. * DOGE firings to accelerate federal government job losses. * Unemployment rate expected to hold steady at 4.1% * Average hourly earnings seen rising 0.3%; up 3.9% y/y. By Lucia Mutikani.
Japanese stocks sank on Friday to their lowest levels since August, and were set for their sharpest weekly drop in five years, as fears of a global recession in the wake of U.S. President Donald Trump's sweeping tariffs gripped markets. As of 0230 GMT, the Nikkei index was down 2.6% at 33,818.18, and on course for a weekly decline of nearly 9%, if losses hold.
* Safe-haven yen hovers near 6-month high on recession worries. * Aggressive Trump levies spur traders to ramp up Fed easing bets. * Analysts warn of dollar losing preferred currency status. By Kevin Buckland.
Sweeping tariffs announced on Wednesday by U.S. President Donald Trump pose a significant risk to the global economy at a time when growth has been sluggish, the head of the International Monetary Fund said in a statement on Thursday.
The Reserve Bank of New Zealand will cut interest rates by 25 basis points on April 9, according to economists polled by Reuters, who have held to their previous rate outlook as inflation is expected to remain under control.
- An internet stream of a speech at a university by Federal Reserve Governor Lisa Cook was hacked on Thursday as racist remarks, Nazi symbols and pornographic images peppered the viewing screen, prompting online access to be cut off.
As newly announced trade tariffs rattle markets, the U.S. labor market stands as the last major pillar of strength in an economy increasingly defined by President Donald Trump?s policy decisions.
-The World Economic Forum founder Klaus Schwab, will "start the process" of stepping down as chair of its board of trustees, a spokesperson for the Geneva-based institution told Reuters on Thursday.
* Trump's tariffs stoke recession fears, impacting global markets. * Yields on U.S. Treasuries drop significantly amid economic concerns. * Gauge of U.S. services sector hits nine-month low. By Chuck Mikolajczak.
- Federal Reserve Governor Lisa Cook said on Thursday that the central bank can take its time to assess a highly unsettled environment before moving interest rates again, amid risks inflation could worsen due to tariffs.
Goldman Sachs (GS) warned sweeping U.S. tariffs will weigh on global growth and prompt the Federal Reserve to cut interest rates more aggressively than previously expected.
Goldman Sachs (GS) warned sweeping U.S. tariffs will weigh on global growth and prompt the Federal Reserve to cut interest rates more aggressively than previously expected.
Of that number, 53% do not hold a bachelor's degree WASHINGTON, April 3, 2025 ?Science is US, a foundation-supported initiative housed within the American Association for the Advancement of Science, published a new study,?Science at Work: The People and Industries Powering America's Prosperity, which found Americans working in science, technology, engineering, mathematics and medical-related fi...
-Federal Reserve Vice Chair Philip Jefferson on Thursday said that with the economy in solid shape, tariffs already pushing upward on goods inflation, and higher-than-usual uncertainty over the outlook, he is inclined to leave the U.S. central bank's policy rate at its currently modestly restrictive level while keeping a close eye on what happens with jobs and prices.
The U.S. services sector slowed to a nine-month low in March, backing expectations that economic growth likely stalled in the first quarter amid uncertainty caused by import tariffs.
-Federal Reserve Vice Chair Philip Jefferson on Thursday said that with the economy in solid shape, tariffs already pushing upward on goods inflation, and higher-than-usual uncertainty over the outlook, he is inclined to leave the U.S. central bank's policy rate at its currently modestly restrictive level while keeping a close eye on what happens with jobs and prices.
- spot price of precious metal increases 19% in Q1 of 2025 - LONDON, April 3, 2025 Gold's meteoric rise continues, with the precious metal setting its 21st record high of the year.
Fitch: * FITCH: US GROWTH IN 2025 LIKELY TO BE SLOWER THAN 1.7% THAT WE HAD PROJECTED IN MARCH, GIVEN HIGHER-THAN-ANTICIPATED TARIFFS. * FITCH: TARIFF HIKES WILL RESULT IN HIGHER CONSUMER PRICES AND LOWER CORPORATE PROFITS IN US. * FITCH: SOME SOVEREIGNS WHERE LEVEL OF VALUE-ADDED IN EXPORTS TO US IS LARGE AS SHARE OF GDP COULD FACE DOWNWARD PRESSURE ON RATINGS AS US TARIFFS RISE.
U.S. Federal Reserve officials who have said they needed more details before estimating the economic impact of President Donald Trump's trade plans got perhaps more than they bargained for on Wednesday when he unveiled sweeping tariffs analysts say could dramatically reshuffle the country's economic outlook.
* Tariff clarity arrives with a bang for Fed officials. * Trump levies are a 'recession-producing turn,' economist says. * Risk of both inflation and output slowdown blurs rate outlook. By Howard Schneider.
The iShares Russell 2000 ETF (IWM), which tracks small-cap stocks, plunged 6.5% on Thursday as President Donald Trump's sweeping reciprocal tariffs roiled financial markets and heightened concerns about an economic downturn. Trump on Wednesday declared a national emergency to impose reciprocal tariffs, citing a persistent trade deficit.
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The U.S. services sector slowed to a nine-month low in March, backing expectations that economic growth likely braked sharply in the first quarter amid uncertainty caused by import tariffs. The Institute for Supply Management said on Thursday that its nonmanufacturing purchasing managers index dropped to 50.8 last month, the lowest reading since June 2024, from 53.5 in February.
The U.S. services sector slowed to a nine-month low in March, backing expectations that economic growth likely braked sharply in the first quarter amid uncertainty caused by import tariffs. The Institute for Supply Management said on Thursday that its nonmanufacturing purchasing managers index dropped to 50.8 last month, the lowest reading since June 2024, from 53.5 in February.
Business Activity Index at 55.9%; New Orders Index at 50.4%; Employment Index at 46.2%; Supplier Deliveries Index at 50.6% TEMPE, Ariz. The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management? Services Business Survey Committee: "In March, the Services PMI??registered 50.8 percent, 2.7 percentage points lower than the February figure of 53.5 percent.
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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