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☆ Bankruptcies are spiking as companies lose hope of rate cuts
▼ + stars: | 2024-05-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

April saw the highest number of corporate bankruptcies in a year, S&P Global said. Eroding bets of an interest rate cut contribute to this, as burdened business throw in the towel. AdvertisementCorporate bankruptcies increased in recent months amid teetering confidence in a quick interest rate pivot. AdvertisementBy one measure, rising costs did slow when a rate cut looked likely in early 2024. But last month's stubborn inflation and slowing GDP made a Fed cut look unlikely, and yields shot up to 8.11%.

Persons: —, April's, Frances Donald Organizations: P Global, Service, Federal, ICE, Fed, Investment

☆ A 'proper' economic downturn is looming, which could trigger steep rate cuts as soon as this year, economist says
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Economist Frances Donald told Bloomberg TV that a sharper Fed pivot is ahead. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMarkets are right to price in a Federal Reserve policy pivot but should brace for a rate-cutting cycle that's sharper than expected, economist Frances Donald told Bloomberg TV. "We believe we are heading into a proper downturn that will require a proper easing cycle." So we're not exiting the period in which rate hikes become really impactful in the economy," she said.

Persons: Frances Donald, —, Donald, We're, Danielle DiMartino Booth Organizations: Bloomberg, Service, Manulife Investment Management

☆ Economy will slow to a growth rate of 0-1% over the course of Q2-Q3, says Dana Peterson
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy will slow to a growth rate of 0-1% over the course of Q2-Q3, says Dana PetersonDana Peterson, The Conference Board chief economist, and Nathan Thooft, Manulife Investment Management CIO and senior portfolio manager, join 'Squawk Box' to discuss the state of the economy, the Fed's interest rate decision, inflation outlook, and more.

Persons: Dana Peterson Dana Peterson, Nathan Thooft Organizations: The Conference Board, Manulife Investment

☆ BlackRock loses top infrastructure investor to Manulife amid executive shakeup
▼ + stars: | 2024-02-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Valentine Andrews, 52, will report to Lorentz and lead the firm's "next era of private markets growth," he wrote. She will remain in New York City, where Manulife's private equity and private credit teams are based. Valentine Andrews joined BlackRock in 2014 from Morgan Stanley, where she spent seven years and helped establish the firm's infrastructure-investing platform. She previously worked at Macquarie Bank, the firm known for its infrastructure investments, in Melbourne and New York. "I like to think about living life in chapters," Valentine Andrews wrote in a post on LinkedIn last month.

Persons: CQS, Anne Valentine Andrews, Paul Lorentz, Valentine Andrews, Lorentz, Angelo Gordon, Nuveen, BlackRock, Edwin Conway, Salim Ramji, Vipon, Brian Kernohan, Marc Feliciano, Morgan Stanley Organizations: Manulife Investment Management, Business, BlackRock, Manulife, Investment, Global Infrastructure Partners, TPG, Macquarie Bank, LinkedIn Locations: Toronto, Massachusetts, Manulife, New York City, Melbourne, New York

☆ Economic slowdown expected in 2024: Manulife Investment Management's Nate Thooft
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic slowdown expected in 2024: Manulife Investment Management's Nate ThooftNathan Thooft, Manulife Investment Management senior portfolio manager and global CIO, joins 'The Exchange' to discuss the odds of a 2024 recession, outlook for U.S. equities, and more.

Persons: Nate Thooft Nathan Thooft Organizations: Manulife Investment Management

☆ Uncertain 2024 makes US companies refinance debt sooner, not later
▼ + stars: | 2023-11-30 | by ( Matt Tracy | ) www.reuters.com time to read: +3 min

Doubts that debt issuance conditions will be as strong in 2024 as they are now, with markets still divided on the direction of interest rates and the economy, have also driven the interest in doing deals now. Credit spreads are underpricing recession risk, said Nate Thooft, senior portfolio manager for Manulife Investment Management. Even if companies waited for rate cuts in 2024, declines in all-in funding costs may not necessarily follow, as credit spreads could then widen, said Amol Dhargalkar, managing partner at Chatham Financial. But Natalie Trevithick, head of investment grade credit strategy at Payden & Rygel, said economic data was too strong for cuts. Some $770 billion of investment-grade rated bonds mature in 2024 and over $900 billion in both 2025 and 2026, according to data by Morgan Stanley (MS.N).

Persons: Joshua Roberts, Maureen O'Connor, Edward Marrinan, Nate Thooft, Amol Dhargalkar, Natalie Trevithick, Morgan Stanley, Steven Oh, Matt Tracy, Shankar Ramakrishnan, Davide Barbuscia, Barbara Lewis Organizations: Federal Reserve, REUTERS, ICE, BMO Capital Markets, Investment, Informa Global, Treasury, Federal, Nikko Securities America, Manulife Investment Management, Chatham Financial, Deutsche Bank, PineBridge Investments, Thomson Locations: Washington , U.S, Wells, U.S

For much of this year central banks have successfully pushed back against rate cut bets. "I believe the Fed will act rationally and begin to cut rates by the end of next year, but we can't rule out the scenario that the Fed is not going to cut rates and just let the ramifications of recession do what they do." Reuters GraphicsSHIFT NEARINGMarkets now fully price in a 25 basis point U.S. rate cut in May, having seen a 65% chance earlier this week. "There are now committee members in all three (banks) willing to talk about rate cuts next year," said Chris Jeffery, head of rates and inflation strategy at LGIM. "The ECB should begin to ease policy as soon as April 2024, with risks that a more sinister downturn in growth could warrant a rate cut as soon as March," he said.

Persons: Jonathan Ernst, ramping, It's, Nate Thooft, Goldman, Christopher Waller, Huw Pill, Yannis Stournaras, Chris Jeffery, we'd, Dario Perkins, Simon Harvey, Yoruk, Naomi Rovnick, Harry Roberston, Davide Barbuscia, Ira Iosebasvili, Saqib Iqbal Ahmed, Dhara Ranasinghe, Catherine Evans Organizations: . Federal, REUTERS, ECB, U.S . Federal Reserve, European Central Bank, Manulife Investment Management, Treasury, Graphics, Bank of England, Deutsche, Lombard, Traders, Yoruk Bahceli, Thomson Locations: Washington, United States, Europe, Goldman Sachs, Greek, Amsterdam, London

The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers. Investment firm acquisitions are also outpacing farmland purchases by foreign entities, according to data from the U.S. Department of Agriculture (USDA). Lawmakers debated this year whether to curtail foreign farmland ownership, concerned that adversaries might buy land to exert political influence. "If the next generation isn’t enticed to come back to the farm," he said, "then who’s going to own that land?" About 60% of U.S. farmland is farmer-owned and -operated, with the rest owned by non-farmer operators including individuals, trusts, and corporations, according to USDA.

Persons: Nuveen, Paul Schadegg, Tim Gibbons, isn’t, It’s, David Gladstone, Gladstone, Cory Booker, Bruce Sherrick, Leah Douglas, Richard Valdmanis, Anna Driver Organizations: Investment, Reuters, Manulife Investment Management, National Council of Real Estate Investment, United Nations, U.S . Department of Agriculture, Lawmakers, Senate, National Defense, Farmers National Company, Missouri Rural Crisis Center, USDA, Gladstone, Agriculture Committee, TIAA, Research, University of Illinois, Thomson Locations: U.S, United, China, Russia, Iran, North Korea, Missouri

☆ Watch CNBC's full interview with Manulife Investment's Frances Donald and Ariel Investments' Charlie Bobrinskoy
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Manulife Investment's Frances Donald and Ariel Investments' Charlie BobrinskoyCharles Bobrinskoy, vice chairman and head of the investment group at Ariel Investments, and Frances Donald, Manulife Investment Management global chief economist, join 'The Exchange' to discuss consumer depletion of excess savings, geopolitical risks dampening the likelihood of further Fed rate hikes, and more.

Persons: Manulife Investment's Frances Donald, Ariel Investments, Charlie Bobrinskoy Charles Bobrinskoy, Frances Donald Organizations: Ariel Investments, Manulife Investment Management

☆ A short recession would be better for most investors than a soft landing, economist says
▼ + stars: | 2023-10-13 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

A soft-landing, stagflation scenario is worse than a short recession, a Manulife economist told CNBC. "A soft landing, stagflation type of environment where you get no growth and no Fed cuts, that's worse for most investors." AdvertisementAdvertisementA soft landing would spell more woes for investors compared to a short recession, according to Manulife Investment Management Global Chief Economist and Strategist Frances Donald. A short recession is the only thing likely to invite rate cuts. A soft landing, stagflation type of environment where you get no growth and no Fed cuts, that's worse for most investors," Donald said.

Persons: Frances Donald, —, Donald Organizations: CNBC, Service, Manulife Investment Management Global, Labor

☆ Investor focus needs to be on where growth momentum is going forward, says Manulife's Frances Donald
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestor focus needs to be on where growth momentum is going forward, says Manulife's Frances DonaldCharles Bobrinskoy, vice chairman and head of the investment group at Ariel Investments, and Frances Donald, Manulife Investment Management global chief economist, join 'The Exchange' to discuss consumer depletion of excess savings, geopolitical risks dampening the likelihood of further Fed rate hikes, and more.

Persons: Manulife's Frances Donald Charles Bobrinskoy, Frances Donald Organizations: Ariel Investments, Manulife Investment Management

☆ Global stock index dips while bond yields, dollar climb
▼ + stars: | 2023-10-02 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. While U.S. indexes were a mixed bag in morning trading, in Europe stocks lost earlier gains after September PMI data, a key indicator of economic health, showed manufacturing activity remains in a broad-based downturn. The pan-European STOXX 600 index (.STOXX) lost 1.21% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.56%. In currencies, the dollar index rose 0.565%, with the euro down 0.69% to $1.0497. Spot gold dropped 1.1% to $1,828.70 an ounce, while U.S. gold futures fell 0.65% to $1,836.00 an ounce.

Persons: Brendan McDermid, Michael Lorizio, Shunichi Suzuki, Brent, Karen Brettell, Marc Jones, Kevin Buckland, Nick Macfie, Mark Potter, Jan Harvey Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, Treasury, PMI, Manulife Investment Management, Dow Jones, Finance, Reuters, Thomson Locations: New York City, U.S, Europe, Boston, New York, London, Tokyo

☆ It was a big week for interest rates. Here’s what you need to know
▼ + stars: | 2023-09-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Central bank officials around the world relayed a somewhat unified message this week to the global economy: Inflation is coming down, but the battle is far from won. Most held rates steady, taking a breather from a historic pace of interest rate hikes to stabilize skyrocketing prices. United States: The Federal Reserve in September paused interest rates for the second time after first hitting the brakes in June. The central bank has hiked rates 11 times since last March. While central banks took steps to pause interest rates this week, they kept future hikes on the table.

Persons: ”, Brian Henderson, Nate Thooft, TikTok, Nnete Matima, Catherine Thorbecke, Clare Duffy, TikTok’s, George Floyd, ” Matima, ByteDance, Matima, Anna Bahney, —, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, BOK Financial, United, Bank of England, Swiss National Bank, Manulife Investment Management, National Association of Realtors, That’s, NAR Locations: United States, United Kingdom, Switzerland, TikTok, Northeast, Midwest, South

The European Central Bank last week lifted rates to a record 4% and upgraded its inflation forecast for 2024, but the euro fell and has lost almost 2% against the dollar this month. Overall, Europe's central banks "would like to portray this idea of higher for longer (rates)," said Ed Hutchings, head of rates at Aviva Investors. The currency, which the central bank labeled "unjustifiably weak," barely caught a break and remains near a record low against the euro . He expected one the of big European central banks to be the first to cut rates. European central banks were "in a bind," Fiotakis added, as higher oil prices also threatened to push inflation higher.

Persons: Dado Ruvic, Sterling, Kit Juckes, BoE, SocGen's Juckes, Ed Hutchings, Nathan Thooft, Bjoern, Fiotakis, Orla Garvey, Naomi Rovnick, Christina Fincher Organizations: REUTERS, Sterling, LONDON, Bank of, Swiss, greenback, Societe Generale, European Central Bank, ECB, U.S . Federal Reserve, Fed, Aviva Investors, Investment Management, Reuters, DWS Group, Nomura, ING, Barclays, Federated, Thomson Locations: Swiss, Bank of England, Switzerland, Sweden, Europe, U.S, Western Europe, United States, Britain, Swedish, Japan, European

☆ I do see a recession ahead, says Manulife Investment's Frances Donald
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI do see a recession ahead, says Manulife Investment's Frances DonaldFrances Donald, Manulife Investment Management global chief economist, and CNBC's Steve Liesman join 'The Exchange' to discuss what the August jobs report signals about the economy, whether we are heading into a recession, and more.

Persons: Manulife Investment's Frances Donald Frances Donald, Steve Liesman Organizations: Manulife Investment Management

☆ CNBC Daily Open: Powell’s conference had something for bulls and bears
▼ + stars: | 2023-07-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Al Drago | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, Chair Jerome Powell left the door open to a subsequent rate hike, saying the central bank will make decisions "meeting by meeting." At his post-meeting press conference, Chair Jerome Powell, in other words, deftly negotiated expectations from market bulls and bears, and somehow managed to reaffirm the case of both camps. The "hawkish" part will please the bears, while the "hold" portion will appeal to the bulls.

Persons: Jerome Powell, Al Drago, Hong, Mukesh Ambani, Dow, that's, —, Powell, Frances Donald, CNBC's Fred Imbert, that'd Organizations: US Federal Reserve, Market, Bloomberg, Getty, CNBC, Federal, Dow Jones, Samsung Electronics, Wall, Revenue, Reality Labs, BlackRock, India BlackRock, Jio Financial Services, CNBC Pro, Manulife Investment Management, Nasdaq, Dow Locations: Washington , DC, Asia, Pacific, Indian

☆ CNBC Daily Open: Powell’s conference had something for everyone
▼ + stars: | 2023-07-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Muted markets U.S. markets reacted little to the Fed's rate hike. A much-anticipated Fed hike The Federal Reserve hiked by 25 basis points , taking rates to a target range of 5.25% to 5.5%, the highest since 2001. However, Chair Jerome Powell left the door open to a subsequent rate hike, saying the central bank will make decisions "meeting by meeting."

Persons: America —, Jerome Powell, —, Powell, Frances Donald, Dow, CNBC's Fred Imbert, that'd Organizations: CNBC, Reserve, CNBC Pro, Wall, Revenue, Reality Labs, Dow Jones, CAC, Federal, Manulife Investment Management, Nasdaq, Dow Locations: America

☆ Fed recap: Details from the Federal Reserve's July hike and Powell's market-moving comments
▼ + stars: | 2023-07-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

"We now believe that the Fed is on a prolonged 'hawkish hold,'" she said. "In our base case, their next move will likely be a cut but it will take until 2024 until we see it. That said, Powell will have no choice but to keep the threat of hikes alive, lest he encourage markets to prematurely price in cuts and re-ignite inflation expectations." "Indeed, throughout this coming extended pause, the risk to our base case will likely almost always be for one last hike to cement the disinflationary trend," she added. — Tanaya Macheel

Persons: Frances Donald, Powell Organizations: Fed, Manulife Investment Management

The KraneShares CSI China Internet ETF is up 5.4% since Friday, while back home the CSI Overseas China Internet Index (.CSIH11136) is up nearly 3%. Yet China tech valuations have been gutted in the nearly 3 years since Ant was forced to shelve its initial share offering, and fund managers see plenty of headwinds, apart from just policy scrutiny. "The government has learned that the private sector - particularly the tech sector - is a critical partner in jump-starting growth. The government will continue to exert pressure on key tech companies even as they allow growth to resume," he said. For some sell-side analysts, though, China tech has turned a corner.

Persons: Jack Ma, Jon Withaar, Ant, Wong Kok Hoi, Wong, Kai Kong Chay, Derrick Irwin, Xi Jinping's, Alibaba's ADRs, Morgan Stanley, Min Lan Tan, Vidya Ranganathan, Kim Coghill Organizations: Group, Alibaba, HK, Pictet Asset Management, CSI China, CSI Overseas, CSI Overseas China Internet, Amazon Inc, APS Asset Management, Greater, Manulife Investment Management, UBS Global Wealth Management, Thomson Locations: HONG KONG, China, Asia, Hong Kong, Alibaba, CSI Overseas China, Singapore, Greater China, Boston

☆ Watch CNBC's full interview with Wells Fargo's Chris Harvey and Manulife's Frances Donald
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wells Fargo's Chris Harvey and Manulife's Frances DonaldChris Harvey, Wells Fargo Securities head of equity strategy, and Frances Donald, Manulife Investment Management chief economist and strategist, join 'The Exchange' to discuss the case for a recession in the back half of this year, and the rationale behind the Fed's pause.

Persons: Wells Fargo's Chris Harvey, Manulife's Frances Donald Chris Harvey, Frances Donald Organizations: Wells, Wells Fargo Securities, Manulife Investment Management Locations: Wells Fargo

☆ U.S. economy headed toward growth slowdown, says Manulife's Frances Donald
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy headed toward growth slowdown, says Manulife's Frances DonaldChris Harvey, Wells Fargo Securities head of equity strategy, and Frances Donald, Manulife Investment Management chief economist and strategist, join 'The Exchange' to discuss the case for a recession in the back half of this year, and the rationale behind the Fed's pause.

Persons: Manulife's Frances Donald Chris Harvey, Frances Donald Organizations: U.S, Wells, Wells Fargo Securities, Manulife Investment Management Locations: Wells Fargo

☆ Expect more issues in the banking sector, but not a full-blown crisis, strategist says
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect more issues in the banking sector, but not a full-blown crisis, strategist saysSue Trinh, co-head of global macro strategy at Manulife Investment Management, discusses the outlook for the banking sector, saying that there are few indicators for a widespread banking crisis.

☆ Nearly every data indicator suggests an impending recession, says Manulife's Jamie Cox
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNearly every data indicator suggests an impending recession, says Manulife's Jamie CoxJamie Cox, managing partner at Harris Financial Group, and Frances Donald, chief economist and strategist at Manulife Investment Management, join 'The Exchange' to discuss the accumulating effect of interest rate policy, indicators of a recession, and the rise in jobless claims.

☆ Watch CNBC's full interview with Harris Financial Group's Jamie Cox and Manulife's Frances Donald
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Harris Financial Group's Jamie Cox and Manulife's Frances DonaldJamie Cox, managing partner at Harris Financial Group, and Frances Donald, chief economist and strategist at Manulife Investment Management, join 'The Exchange' to discuss the accumulating effect of interest rate policy, indicators of a recession, and the rise in jobless claims.

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