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☆ Something unusual is happening with the S&P 500, and it could mean more gains ahead
▼ + stars: | 2024-02-29 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The S & P 500 is about to do something unusual that has typically been followed by strong gains ahead. There have been only been 28 instances in which the S & P 500 has risen over the first two months of the year. The S & P 500 hit record highs in recent weeks, prompting questions about whether it can continue advancing or is due for a correction. With last week's advance, the S & P 500 officially finished 15 of the last 17 completed trading weeks in the green. The S & P 500 went on to finish that year up by a whopping 27.3%.

Persons: what's, Henry Allen, Allen, Madonna Organizations: Carson Group, Deutsche Bank, Bretton Locations: U.S

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ Brazil highlights poverty, climate change as G20 priorities
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

Brazil takes over the G20 presidency from India on Dec.1 and will hold the 2024 summit in Rio de Janeiro in November next year. "It is not possible for the Bretton Woods institutions, World Bank, IMF, and many other financial institutions to continue functioning as if nothing were happening in the world, as if everything had been resolved," he said. He complained the institutions often lend money to countries to pay off their debt, without any meaningful change. G20 foreign ministers will meet in Rio de Janeiro on Feb. 21-22 and finance ministers will gather in Sao Paulo over Feb. 28-29. Indian Prime Minister Narendra Modi hosted a virtual summit of G20 nations on Wednesday to review progress on policy goals set at the annual G20 summit in New Delhi in September.

Persons: Luiz Inacio Lula da Silva, Ueslei Marcelino, Lula, Narendra Modi, Lisandra Paraguassu, Deepa Babington Organizations: Central Bank, REUTERS, Rights, United Nations, World Bank, International Monetary Fund, Security, Bretton Woods, IMF, Indian, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, India, Rio de Janeiro, United, Sao Paulo, New Delhi

☆ Take Five: Volatile start to busy week
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +6 min

Traders work 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 RightsOct 9 (Reuters) - Financial markets have got off to a volatile start to the week, after Hamas militants launched an assault on Israel at the weekend, triggering violent conflict that left hundreds dead. A bond market rout last week and currency gyrations already had financial markets on edge ahead of U.S. inflation numbers and the start of earnings season. Here's your week ahead in markets from Kevin Buckland in Tokyo, Lewis Krauskopf in New York, Rachel Savage in Johannesburg, and Naomi Rovnick and Dhara Ranasinghe in London. Amid these tensions, the IMF and World Bank are trying to boost their lending.

Persons: Brendan McDermid, gyrations, Kevin Buckland, Lewis Krauskopf, Rachel Savage, Naomi Rovnick, Wells, LSEG IBES, Rishi Sunak's, Sumanta Sen, Pasit, Vineet, Karin Strohecker, Kim Coghill Organizations: New York Stock Exchange, REUTERS, Financial, World Bank, International Monetary Fund, Labour, JPMorgan, Citigroup, PepsiCo, Delta Air Lines, UnitedHealth, Reuters, LABOUR, Conservative, Labour Party, MOROCCO Finance, Monetary Fund, U.S, Bretton Woods, IMF, Thomson Locations: New York City, U.S, Israel, Tokyo, New York, Johannesburg, London, Central, Morrocan, Marrakech, China

☆ IMF, World Bank to step up cooperation on climate, debt, digital transition
▼ + stars: | 2023-09-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

REUTERS/Amit Dave/File photo Acquire Licensing RightsCompanies International Monetary Fund FollowWASHINGTON, Sept 7 (Reuters) - The International Monetary Fund and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities and countries' digital transitions. The IMF and World Bank were established in 1944 at a meeting in Bretton Woods, New Hampshire. DEBT VULNERABILITIESThe two institutions also said they will incorporate climate considerations into their work on debt sustainability for low-income countries. The IMF and World Bank have worked closely on debt sustainability issues, both pushing for improved restructuring frameworks. On the digital transition, the two institutions said they would collaborate to help countries to connect their citizens to online services and reduce barriers to digital inclusion.

Persons: Ajay Banga, Amit Dave, Kristalina Georgieva, Joe Biden, Banga, David Lawder, Paul Simao Organizations: Ministers, Central Bank governors, REUTERS, International Monetary, Monetary Fund, World Bank, Woods, IMF, Bank, Advisory Group, Sustainability Trust, Thomson Locations: Gandhinagar, India, Bretton Woods , New Hampshire, Banga, U.S

Leaders are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, according to a draft summit statement seen by Reuters. Citing the war in Ukraine, climate crisis, a fledgling pandemic recovery, widening disparity and declining progress, Banga said it was time the World Bank adopted a new vision. The summit aims to create multifaceted roadmaps that can be used over the next 18-24 months, ranging from debt relief to climate finance. Wealthy nations have yet to come good on climate finance that they promised as part of a past pledge to mobilize $100 billion a year, a key stumbling block at global climate talks. Though binding decisions are not expected, officials involved in the summit's planning said some strong commitments should be made about financing poor countries.

Persons: Ajay Banga, Banga, Mia Mottley, John Irish, Philippa Fletcher Organizations: Glasgow, Summit, New Global Financial, World Bank, United Nations, Bank, Reuters, Barbados, Bridgetown Initiative, Bretton, International Monetary Fund, International Maritime Organization, Thomson Locations: Paris, France, PARIS, Africa, Ukraine, Banga, Bridgetown, French

Ranging from debt relief to climate finance, many of the topics on the agenda take up suggestions from a group of developing countries, led by Barbados Prime Minister Mia Mottley, dubbed the 'Bridgetown Initiative'. Though binding decisions are not expected, officials involved in the summit's planning said that some strong commitments should be made about financing poor countries. In particular, there should be an announcement that a $100 billion target has been met that will be made available through the International Monetary Fund for vulnerable countries, officials said. The plan, first agreed two years ago at an African finance summit in Paris, calls on wealthy governments to lend unused special drawing rights to the IMF to, in turn, lend to poor countries. Reporting by Leigh Thomas in Paris and Simon Jessop in London; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Emmanuel Macron, Mia Mottley, Avinash Persaud, Persaud, Leigh Thomas, Simon Jessop, Christina Fincher Organizations: World Bank, United Nations, Barbados, Bridgetown Initiative, Bretton, International Monetary Fund, IMF, AAA, Paris Club, International Maritime Organization, Thomson Locations: Bridgetown, Mottley, Paris, Ethiopia, Ghana, Sri Lanka, Zambia, China, London

☆ What is de-dollarization? Here's everything you need to know about rival countries' efforts to dethrone the greenback
▼ + stars: | 2023-04-26 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The US dollar has dominated global trade and been the leading reserve currency for nearly 80 years. But rival countries – including China and Russia – are trying to change that. But a growing list of countries – including Brazil, China, and Russia – are trying to unseat the greenback. Rival countries China and Russia are spearheading the effort to wean the world off the buck. "There is a lot of inertia in reserve currency status," a team of strategists led by Kamakshya Trivedi said.

☆ Euro, dollar status should not be taken for granted -ECB's Lagarde
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, April 17 (Reuters) - The United States and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems. "These developments do not point to any imminent loss of dominance for the U.S. dollar or the euro," Lagarde said in a speech. "So far, the data do not show substantial changes in the use of international currencies." "But they do suggest that international currency status should no longer be taken for granted," she said at the Council on Foreign Relations in New York. Around 60% of the world's foreign exchange reserves and international debt is denominated in dollars, with the euro a distant second at 20%, according to data compiled by the ECB.

WASHINGTON, April 11 (Reuters) - China is expected to drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor countries, breaking a major roadblock to debt relief, a source familiar with the plans said on Tuesday. The development is expected at a high-level sovereign debt roundtable on Wednesday on the sidelines of the World Bank and International Monetary Fund Spring meetings in Washington. She also said the World Bank was being asked to show how it could be a net positive provider of financing and concessional loans. She added that an April 3 deputies meeting for the sovereign debt roundtable went well. DEBT DISCUSSIONSThe IMF, World Bank and India, current president of the G20, are co-chairing the Global Sovereign Debt Roundtable with a goal of accelerating debt relief for countries in need.

☆ As volatility persists, this is what investors can expect in the second quarter — according to history
▼ + stars: | 2023-03-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

This is particularly notable as, after a year of negative returns, the S & P 500 index tends to decline during the first quarter , and the MSCI World Index fairs only marginally better. Historically, when the S & P 500 does rise under these conditions, it delivers an average return rate of just over 14%. Global stocks In comparison, the MSCI World Index , which captures more than 1,500 large and mid-cap stocks across 23 developed countries, has generally performed better. The index has risen 67% of the time in the second quarter following a negative year of returns bouncing off a positive first quarter. However, the index offers lower volatility compared to the S & P 500, with stocks rising or falling only by 6%.

☆ It's been a bleak year for stocks. This is what investors can expect in 2023 — according to history
▼ + stars: | 2023-01-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A confluence of global factors has meant the MSCI World index of large and mid-cap stocks finished the year down by nearly 20 % . In January alone, after a year of negative returns, the index rose 60% of the time by an average of 4.6%. The S & P 500 since 1929 CNBC also analyzed the S & P 500 since 1929, which showed a similar picture. That will bring the S & P 500 down to 3,600 from its current level of around 3,800 points. As for the month of January, after a year of negative returns, the U.S. index performed very similarly to the MSCI World index.

☆ Gold is in its worse slump since 1869 as inflation-adjusted yields turn sharply positive, says Deutsche Bank
▼ + stars: | 2022-11-01 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Gold prices are down for seven consecutive months, the longest decline since 1869, according to Deutsche Bank. The fall in gold prices is happening as real bond yields have turned sharply higher. But Deutsche Bank analysts also noted that such a losing streak hasn't been seen in the half century that followed the US coming off the gold standard, ending the Bretton Woods currency exchange regime. Meanwhile inflation-adjusted bond yields have turned sharply higher amid aggressive rate hikes from the Federal Reserve and other central banks. Gold, however, has still outperformed most other notable assets despite the sharp decline this year, according to Deutsche Bank research strategist Jim Reid.

WASHINGTON, Oct 12 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others. "We know the cost of Russia's weaponization of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like China," Yellen said, underscoring Washington's determination to hold Russia accountable for its invasion of Ukraine and its initial blockade of food and energy shipments from the country. "Friend-shoring is not meant to be a tiny handful of countries. It's something that's meant to (gain) diversity...but still get the benefits of trade," Yellen said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal and Dan Burns; Editing by Mark Porter and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Treasury's Yellen says global economy faces headwinds, warns of geopolitical 'coercion'
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Oct 12 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia and others. Yellen told an event hosted by the Bretton Woods Committee, a booster group, that Washington was working to deepen integration with the countries it could count on, including many emerging markets and developing countries, while building in more redundancies in its supply chains. "We know the cost of Russia’s weaponization of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like China," Yellen said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal and Dan Burns; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

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