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Morning Bid: Treasuries on cusp of best month since 2008
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +3 min
Let's start with Treasuries because, if this were sports, we'd be calling it a comeback for the ages. Now, with some encouraging hints from Fed officials, 10-year notes are poised to celebrate their best month since the 2008 global crash, with yields down 61 basis points for November so far. Yields on two-year paper are down 31 bps just this week, the steepest drop since the U.S. mini-banking crisis in March. The European Union has inflation data of its own later on Thursday and analysts suspect the risks are for a downside surprise following subdued readings from Germany and Spain. The dollar index looks set for its worst month since November last year, with a loss so far of 3.7%.
Persons: Kevin Lamarque, Wayne Cole, Let's, we'd, Governor Waller, dovishness, Powell, Williams, Lagarde, Greene, Governor Bunge, Edmund Klamann Organizations: U.S . Treasury, REUTERS, Fed New, European Union, China PMI, BoE Monetary, CPI, PPI, Chicago PMI, Thomson Locations: Washington , U.S, Wayne, U.S, Germany, Spain, China, BoE, EU, Chicago
“It’s a love letter to that time — a collection of some of the pictures I am most fond of,” Le Gouès said in a phone interview from Paris, where he is based. Thierry Le Gouès/Courtesy powerHouse BooksMost of the photos appeared in magazine spreads or fashion campaigns, which were Le Gouès’ main outlets at the time. Thierry Le Gouès/Courtesy powerHouse BooksIndeed, Le Gouès’ images are strikingly dramatic. “The ‘90s was a decade of experimentation, and that’s what I did when it came to my photos,” Le Gouès said. The other was Kate Moss, whose gold-painted portrait eventually ended up gracing the front of “90’s.” Le Gouès shot the image for British Esquire.
Persons: Kate Moss, Naomi Campbell, Linda Evangelista, Calvin Klein’s, Moss, Mark Wahlberg, , Cindy Crawford, Iman, Carla Bruni, Thierry Le Gouès, , ” Le Gouès, Le Gouès, he’d, Le, “ I’ve, ” Naomi Campbell, John Galliano, Azzedine Alaïa, Alexander McQueen, Carla Bruni’s, Bruni, Eva Herzigová, Elle Macpherson, Campbell, Tatjana Patitz —, Naomi, Kate, ” Kate Moss, She’s Organizations: CNN, , Vogue, Esquire, Locations: Paris
Asia stocks slip as suspense builds for China, Fed news
  + stars: | 2023-06-21 | by ( Wayne Cole | ) www.reuters.com   time to read: +4 min
The uncertainty kept S&P 500 futures and Nasdaq futures flat after a slight dip overnight. EUROSTOXX 50 futures edged up 0.2% and FTSE futures 0.1%. A survey showed morale at big Japanese manufacturers edged up in June to stay in positive territory for a second straight month. The currency has been falling for weeks as the Bank of Japan (BOJ) doggedly defended its super easy policies. Oil prices edged higher after a couple of sessions of losses, still struggling with concerns about Chinese demand absent a sizable stimulus package.
Persons: Powell, Jerome Powell, Tapas Strickland, doggedly, BoE, Brent, Wayne Cole, Jacqueline Wong Organizations: SYDNEY, Federal, NAB, Nasdaq, South, Japan's Nikkei, Bank of Japan, Bank of England, JPMorgan, Thomson Locations: Asia, Beijing, Pacific, Japan, South Korea
Evercore ISI's Julian Emanuel wrote that market momentum can continue despite the latest Fed news. And he wrote that the capitulation of record shorts in today's market is a warning sign as well. If they rise to over 300,000 a week and stay there, then today's momentum market might be coming to an end. "Timing whether this is the beginning, middle or end of a Momentum Market is extraordinarily difficult," Emanuel wrote. The 16 stocks Emanuel uncovered that could outperform as today's momentum market continues are below.
Persons: Evercore, Julian Emanuel, Emanuel, they'll, that's, Russell Organizations: Evercore ISI, Big Tech, Nasdaq, American Association of
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. Chris Licht relinquished his position as CNN's CEO and left the company, Warner Bros Discovery, the parent company of CNN, said Wednesday morning. So it was perhaps not surprising that investors were relieved by his departure, as indicated by the 8.43% jump in Warner Bros ' shares. Cohen is known as "the god figure of the meme-stock community," a Reddit user, who preferred to be anonymous for fear of retaliation, told CNBC.
Persons: Chris Licht, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's Organizations: Penn, Empire, CNBC, Warner Bros Discovery, CNN, Warner Bros, GameStop Locations: New York City, New York
CNBC Daily Open: How quickly prospects change
  + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +4 min
Kevin Mazur | Getty Images Entertainment | 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. U.S. Treasury Secretary Janet Yellen told CNBC she wouldn't be surprised if more banks start to consolidate, given the increased pressures on the banking system. The bottom lineProspects — for both firms and markets — changed as quickly and suddenly as the haze engulfed New York. Smaller companies are more sensitive to economic conditions because they tend not to have the financial heft to defy a downturn.
Persons: Chris Licht, Kevin Mazur, Janet Yellen, wouldn't, Yellen, Elon Musk, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's, Russell, That's, LPL, Quincy Krosby Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Getty, CNBC, Dow Jones, Treasury, Millionaires, CNBC Millionaire Survey, Warner Bros Discovery, CNN, GameStop, Big Tech, Microsoft, Google, Nvidia, Qualcomm, Nasdaq Locations: New York City, U.S, Mongolia, New York
In a unanimous decision widely expected by markets, the central bank's Federal Open Market Committee raised its benchmark borrowing rate by 0.25 percentage point. related investing news BlackRock’s Rieder highlights a fresh worry for investors beyond the Fed’s expected rate hike The increase takes the fed funds rate to a target range of 5%-5.25%, the highest since August 2007. The post-meeting statement had only offered some clarity on the future pace of rate hikes — and not by what it said but what it didn't say. Multiple officials have said rates probably will need to stay elevated even if the hikes are put on hold. Along with inflation, the Fed has had to deal with tumult in the banking industry that has seen three mid-size banks shuttered.
Market nerves tie US rate-setters’ hands
  + stars: | 2023-03-22 | by ( Ben Winck | ) www.reuters.com   time to read: +3 min
On Wednesday the central bank raised interest rates a quarter point. The failure of Silicon Valley Bank nearly two weeks ago upended the U.S. financial system, and the Fed and other agencies have had to provide a steadying hand. But by Wednesday morning, just before the central bank’s decision, the futures market was mostly pricing in a 25 basis point hike. Futures contracts tracking the central bank’s benchmark rate have also been shaky. Wall Street reforms passed in 2010 crystallized the central bank's duty to foster a stable financial system.
[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 8, 2022. While the dollar index initially jumped on the Fed news, trading was choppy and was last down nearly 0.5% on the day. European stocks were flat, with the continent-wide Stoxx 600 (.STOXX) down 0.02% after rising 1.3% in the previous session. "Rather it is dot plot expectations that the Fed will hold rates throughout 2023, and not begin rate cuts until 2024." U.S. Treasury yields were little changed to slightly lower in choppy trading after the Fed news.
Stocks, which had risen on the “inflation is cooling” news Tuesday, were down Wednesday on the “Fed is not convinced” development. GOP leader Kevin McCarthy is trying to find the votes to become speaker, and adding a spending fight to his plate would get messy quickly. But the spending fight loomsNone of the disagreements over spending are going away. Inflation moved the electionThe difference between 7.1% month-over-month inflation and 7.7% inflation in October may not feel like much on the micro level to Americans who are paying 49% more for eggs this year than they were last year. “In the coming decade, they’re going to be fighting hard to get inflation down.”In the meantime, cooling inflation might be praised by policymakers, but it could rub everyone else the wrong way, especially if an economic slowdown starts to feel like a recession.
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Be cautious about Fed news We trimmed our position in COST Humana raises its guidance 1. Humana raises its guidance Humana (HUM) on Thursday raised its 2023 membership guidance for its individual Medicare Advantage business and reiterated its 2022 adjusted earnings guidance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Premarket stocks: Why investors aren't going green
  + stars: | 2022-10-24 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
ESG funds in September saw their largest outflow of investor cash since the March 2020 recession. These ESG and responsible investing funds saw assets under management peak above $8.5 trillion in late 2021. That’s because ESG ratings agencies tend to rate companies against others within their industry, so oil and gas companies are rated separately from automotive companies. A debate over how to regulate ESG funds is also adding to the noisy picture. But the hurdles facing ESG investing show that doing so is easier said than done.
The Central Bank of Bahrain is seen in Manama, October 27, 2013. The Saudi Central Bank, also known as SAMA, lifted its repo and reverse repo rates by 75 bps to 3.75% and 3.25%, respectively. The UAE's central bank will from Thursday hike its base rate by three-quarters of a percentage point to 3.15%. Qatar's central bank will from Thursday increase its lending rate to 4.5%, deposit rate to 3.75% and repo rate to 4.0%. Bahrain raised its key policy interest rate on its one-week deposit facility to 4%.
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