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☆ Stocks surge, dollar slumps as traders cheer inflation surprise
▼ + stars: | 2023-11-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight the Nasdaq (.IXIC) jumped 2.4%, bonds surged and the dollar slumped more than 1.6% on the euro. Yields fall when bond prices climb. In foreign exchange trade, the dollar suffered its heaviest selling in 12 months, with the sharpest losses against risk-sensitive currencies such as the Australian dollar. In Japan, the Bank of Japan stepped back and pared its regular bond buying as markets rallied. Ten-year Japanese government bond yields hit a one-month low of 0.775%.

Persons: Androniki, Sam Rines, Chetan Seth, Brent Donnelly, Tom Westbrook, Edmund Klamann Organizations: Nikkei, REUTERS, Nasdaq, Federal, CPI, Japan's Nikkei, New Zealand, Nomura, Bank of Japan, Thomson Locations: Tokyo, Japan, SINGAPORE, Asia, Pacific, Texas, U.S, Canada

☆ Morning Bid: Bonds haunted by uncertainties old and new
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Tom WestbrookIt's looking like the worst week of another bad year for bonds. Curiously, the dollar hasn't moved higher with the latest leap in yields, perhaps because currency traders see recession in the offing. Fed Chair Jerome Powell said little that markets didn't already know on Thursday, but in keeping his options open he kept the pressure on bonds. "A range of uncertainties, both old and new, complicate our task of balancing the risk of tightening monetary policy too much against the risk of tightening too little," he said.

Persons: Brendan McDermid, Tom Westbrook It's, Brent Donnelly, Jerome Powell, Joe Biden, Israel, Fed's Mester, Harker, Tom Westbrook, Edmund Klamann Organizations: New York Stock Exchange, REUTERS, Spectra Markets, MSCI's, Bank of Japan, North America ., Thomson Locations: New York City, U.S, New York, MSCI's Asia, Japan, Gaza, China, London, North America

☆ Asian stocks climb as traders shrug off inflation surprise
▼ + stars: | 2023-09-14 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Fed funds futures hardly budged on the inflation data, and imply nearly no chance of a rate hike next week, and about a 45% chance of another hike by year's end. The S&P 500 (.SPX) rose 0.1% and futures rose 0.2% in Asia. European futures were flat. The euro has been supported this week by creeping expectations for the European Central Bank to hike rates on Thursday, though analysts say it may struggle for further gains. The New Zealand dollar was also firmer at $0.5941, while the dollar slipped about 0.2% to buy 147.11 yen .

Persons: Androniki, Glenn Yin, HSI, Brent Donnelly, it's, Kazuo Ueda, Shri Navaratnam Organizations: Nikkei, REUTERS, Rights, European Central Bank, Tokyo's Nikkei, Treasury, ., New, AETOS Capital Group, Arm Holdings, EU, Spectra Markets, New Zealand, Bank of Japan, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, New York, Melbourne, Saudi Arabia, Russia, Australia

Dealers say BOJ efforts to make short selling more expensive have also worked and that investors are simply avoiding the market, rather than crowding into bets on yields rising. Nearly 90% of economists polled by Reuters said they expect no policy change. Ueda's most recent remarks have stressed the need to keep policy settings loose for now, without ruling out the possibility of future changes. On Sunday the Sankei newspaper reported the BOJ is considering a review of the impact of its policy settings, which could foreshadow changes. Nomura strategist Naka Matsuzawa said the path ahead would be a balance between getting a policy change done, and improving communication.

☆ Dollar squeezed as inflation drives up euro
▼ + stars: | 2023-03-02 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Euro zone inflation data is due later in the day. The yen hardly budged but the dollar made broad falls on Asian currencies as it retreats from recent highs. On Thursday the yen was a tad stronger at 136.04 to the dollar in early trade while the Australian dollar held Wednesday gains made despite softer-than-expected growth data and some hints that inflation may have peaked. "We consider the Australian dollar can increase materially in the weeks after China's Two Sessions meetings," he said. Besides European inflation, euro zone employment and central bank minutes are due later in the day, as is U.S. jobless claims data.

☆ Morning Bid: Bank man fried
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

"We are in the best of hands," FTX founder Sam Bankman-Fried said on Twitter, after announcing a bailout that has not quite soothed market jitters. Bitcoin was falling in Asia on Wednesday, so was FTX's collapsing token and Binance's token had the wobbles. As Spectra Markets' Brent Donnelly and others have previously noted, naming rights are a reasonable signal of irrational exuberance. FTX's 19-year deal for naming rights at the Miami Heat basketball team's home arena looks to face a similar fate, as does its sponsorship of the Mercedes F1 team. China's factory gate prices dropped for the first time since December 2020, and consumer inflation moderated, underlining faltering domestic demand.

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