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Asia stocks up, U.S. bond yields down as inflation fears ease
  + stars: | 2021-06-11 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +4 min
SHANGHAI (Reuters) - U.S. bond yields dipped to three-month lows and a broad gauge of Asian shares rose on Friday as investors looked past rising U.S. consumer prices and focused on one off-factors which suggested higher inflation could be short-lived. Data overnight showed the U.S. consumer price index posted its biggest year-on-year increase since August 2008 at 5%, following a 4.2% rise in April. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. The 10-year U.S. Treasury note’s yield dipped to a three-month low of 1.4340%, down from Thursday’s close of 1.459%. Hopes for stronger economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: Kim Kyung, DAX, , Rob Carnell, Seoul’s, Larry Hu Organizations: REUTERS, Federal, European Central Bank, . Labor Department, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: SHANGHAI, Tokyo, Japan, U.S, Asia, Pacific, Singapore, China, Hong Kong, Thursday’s
In morning trade in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.18%. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. “Because of very strong external demand the negative impact from credit deceleration should be OK in the next three to six months, mainly thanks to the strong demand from the U.S.,” said Larry Hu, economist at Macquarie in Hong Kong. The spread between the 2-year and 10-year yield also hit its narrowest level since late February, as inflation expectations eased. Hopes for strong economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: , Rob Carnell, Seoul’s Kospi, Larry Hu Organizations: Nikkei, . Labor Department, Japan, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: Asia, Japan, SHANGHAI, Pacific, Singapore, China, U.S, Hong Kong, Thursday’s
Asian shares hold range as investors eye U.S. CPI
  + stars: | 2021-06-10 | by ( Swati Pandey | ) www.reuters.com + 0.00   time to read: +3 min
SYDNEY (Reuters) - Asian shares edged higher but held their recent trading range on Thursday as investors focussed on U.S. inflation data and the risk of an upside surprise that could prompt the Federal Reserve to start tapering its massive stimulus. REUTERS/Kim Kyung-Hoon/File PhotoMSCI’s broadest index of Asia-Pacific shares outside Japan were marginally higher at 700.6 points, but stayed in the 698-712 points range it has traded in since late May. [.N]Markets are looking to the European Central Bank (ECB)policy meeting later in the day where it will likely keep its policy guidance unchanged and publish updated euro area macroeconomic projections. Brent crude futures fell 22 cents to 72 a barrel, while U.S. crude futures were 27 cents lower at $69.69 a barrel. The euro was a tad weaker at $1.2169 ahead of the ECB meeting while the British pound eased to $1.4100.
Persons: Kim Kyung, Dow, , coronavirus lockdowns Organizations: SYDNEY, Federal Reserve, REUTERS, Japan’s Nikkei, Morgan, Treasury, Nasdaq, European Central Bank, U.S, CPI, Reuters, ANZ, Brent, ECB, New Zealand Locations: Tokyo, Japan, Asia, Pacific, Treasuries, coronavirus
Asian shares in tight range ahead of U.S. CPI, ECB meeting
  + stars: | 2021-06-10 | by ( Swati Pandey | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Kim Kyung-Hoon/File PhotoIn early European trades, the pan-region Euro Stoxx 50 futures added 0.52% and German DAX futures rose 0.1%, as did London’s FTSE futures. MSCI’s broadest index of Asia-Pacific shares outside Japan gained to 703.7 points, but stayed in the 698-712 points range it has traded in since late May. [.N]Markets are looking to the European Central Bank (ECB) policy meeting later in the day where it will likely keep its policy guidance unchanged and publish updated euro area macroeconomic projections. Brent crude futures fell 51 cents to 71.71 a barrel, while U.S. crude futures were 46 cents lower at $69.50 a barrel. The euro was a tad weaker at $1.2162 ahead of the ECB meeting while the British pound eased to $1.4105.
Persons: Kim Kyung, DAX, Dow, Organizations: SYDNEY, Federal Reserve, REUTERS, Japan, Japan’s Nikkei, Morgan, Treasury, Nasdaq, European Central Bank, U.S, CPI, Reuters, ANZ, Brent, ECB, New Zealand Locations: Tokyo, Japan, Asia, Pacific, U.S, Treasuries, United States
U.S. Treasury yields firmed after jumping overnight, while the dollar held onto its biggest gain since April with other currencies subdued ahead of the crucial U.S. nonfarm payrolls data release. Stock markets were listless ahead of the jobs data release, with Japan’s Nikkei earlier falling 0.4% while the broader Topix was about flat. The dollar index held Thursday’s 0.7% rally, its biggest since April, to hover around 90.55. “Clearly, traders are covering USD shorts into the jobs data,” Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a note to clients. U.S. WTI added 17 cents to $68.97 a barrel, just below $69.40 a day earlier, the strongest since October 2018.
Persons: payrolls, IAG, Chris Weston, , WTI Organizations: Treasury, The U.S, Labor, Stock, Japan’s Nikkei, . Airlines, British Airways, Wizz, Britain, London Metal Exchange Locations: 2egbfVh, LONDON, Asia, Pacific, Japan, The, Egypt, Sri Lanka, England, Melbourne, Brent, Thursday’s
Japan’s Nikkei fell 0.4% while the broader Topix was about flat, with the services and tech sectors leading laggards. Futures pointed to a slightly lower open for European stocks with the pan-region Euro Stoxx 50 futures set for a 0.1% decline. U.S. stock futures, the S&P 500 e-minis, were 0.1% lower, following a 0.4% loss for the index overnight. Last month, much-weaker-than-expected nonfarm payrolls numbers knocked back those expectations, weakening Treasury yields and the dollar. Brent futures rose 10 cents to $71.41 a barrel, after touching the highest since May 2019 in Thursday’s session.
Persons: Issei Kato, Friday’s nonfarm, , Kyle Rodda, , Joe Biden, Chris Weston, Brent, WTI Organizations: Nikkei, REUTERS, Treasury, Japan’s Nikkei, , IG, FTSE, Nasdaq, Dow Jones Locations: TOKYO, U.S, Tokyo, Japan, Asia, Pacific, Beijing, Melbourne, , Thursday’s
Stocks loiter around peaks as traders wait for data
  + stars: | 2021-06-02 | by ( Andrew Galbraith | Tom Westbrook | ) www.reuters.com + 0.00   time to read: +4 min
Aussie stocks hit a record high, while Japan’s Nikkei rose 0.5%. U.S. and European equity futures were steady, with S&P 500 futures flat and EuroSTOXX 50 futures up 0.2%. “As the major developed economies continue to reopen from COVID lockdowns the focus on central bank meetings is going to intensify,” MUFG analysts said in a monthly outlook note. Brent futures rose 0.6% to $70.67 per barrel and U.S. West Texas Intermediate crude added 0.56% to $68.10 per barrel, despite the OPEC+ alliance agreeing to hike output in July. Wall Street indexes had closed broadly steady on Tuesday, with the revival of gains in retail-investor driven “meme stocks” standing out.
Persons: Issei Kato, Brent, , Ray Attrill, Bitcoin Organizations: REUTERS, Japan’s Nikkei, , U.S, U.S . Federal, Fed, European Central Bank, ECB, . West Texas, AMC Entertainment Holdings Locations: SHANGHAI, SINGAPORE, Europe, United States, Tokyo, Japan, Asia, Pacific, Australia, U.S ., COVID, OPEC
U.S. equities climb at open as world stocks hit another record
  + stars: | 2021-06-01 | by ( Katanga Johnson | ) www.reuters.com + 0.00   time to read: +4 min
WASHINGTON (Reuters) -U.S. stocks rose on Tuesday as global equities markets again hit a record high and oil rose, showing investors have grown more confident about rising inflation while betting that imminent U.S. data will cast light on the state of the economic recovery. The S&P 500 closed on Friday before the U.S. Memorial Day holiday at its third highest level in history. New U.S. jobs data on Friday should also give a firmer steer on near-term Fed policy action. South Korean stocks rose 0.6% after a jump in May exports, and Chinese stocks climbed 0.2% after data showing factory activity expanded at the fastest pace this year in May. Though U.S. inflation data last week exceeded estimates, another big miss on the jobs front would delay prospects for any wind-down of stimulus, analysts say.
Persons: Carlo Allegri, U.S ., , Mark Haefele, Sebastien Galy, Brent Organizations: WASHINGTON, New York Stock, REUTERS, U.S, U.S . Memorial, Dow Jones, Nasdaq, Traders, Institute for Supply Management, UBS Global Wealth Management, Japan’s Nikkei, Federal Reserve, Generale, NFP Locations: Manhattan, New York City , New York, U.S, COVID, New U.S, Europe, Asia, Pacific, Japan
U.S. equities fluctuate as world stocks hit record, oil climbs
  + stars: | 2021-06-01 | by ( Katanga Johnson | ) www.reuters.com + 0.00   time to read: +4 min
WASHINGTON (Reuters) - U.S. stocks pared gains on Tuesday after manufacturing data showed expansion amid rising commodity prices and shortages of materials, while oil rose and global equities hit a record high as markets rode concerns of rising inflation. All three major indexes were trading off from larger gains notched earlier in the session, leaving U.S. stocks mixed. New U.S. jobs data on Friday should also give a firmer steer on near-term Fed policy action. In advance of that, MSCI’s gauge of stocks across the globe rose 2.51 points or 0.35%, to 713.96, marking a new record high, led by broad gains across Europe’s indexes. OIL GAINSOvernight, MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.52% higher, while Japan’s Nikkei lost 0.16%.
Persons: Carlo Allegri, Dow, U.S ., , Chris Zaccarelli, ” Zaccarelli, Brent, Sebastien Galy Organizations: WASHINGTON, New York Stock, REUTERS, Nasdaq, U.S, Dow Jones, U.S . Memorial, Institute for Supply Management, Independent, Energy, Japan’s Nikkei, Federal Reserve, Generale Locations: Manhattan, New York City , New York, U.S, Charlotte , North Carolina, New U.S, Asia, Pacific, Japan
FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. The pan-European STOXX 600 index rose 0.75% and MSCI’s gauge of stocks across the globe gained 0.32%. Emerging market stocks rose 1.06%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.87% higher, while Japan’s Nikkei lost 0.16%. New U.S. jobs data on Friday should also give a firmer steer on near-term Fed policy action.
Persons: Carlo Allegri, bitcoin, , Elyse Ausenbaugh, Chris Zaccarelli, ” Zaccarelli, GasBuddy Organizations: WASHINGTON, New York Stock, REUTERS, Energy, Financial, Japan’s Nikkei, JPMorgan Private Bank, Dow Jones, Nasdaq, Institute for Supply Management, Independent, of, Petroleum, Transportation Security, JP Morgan Private Bank, Federal Reserve Locations: Manhattan, New York City , New York, U.S, OPEC, Asia, Pacific, Japan, Charlotte , North Carolina, New U.S
Asia shares try to extend rally ahead of U.S. jobs test
  + stars: | 2021-05-31 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-Hoon/File PhotoMSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%, having rallied 2.2% last week. Chinese blue chips slipped 0.4%, while a survey showed a slight slowdown in factory activity but a pick-up in the giant service sector. The dollar index stood at 89.983, near a five-month low. The dollar has fared better on the Japanese yen as investors borrow the currency at super-low rates to buy higher-yielding assets. [CNY/]Concerns about global inflation and extreme volatility in cryptocurrencies has been a boon for gold which was holding at $1,903, after hitting a four-month high at $1,1912 last week.
Persons: Kim Kyung, , Patrik Schowitz, Kevin Cummins, Powell, Ray Attrill, Brent Organizations: SYDNEY, Nikkei, REUTERS, Japan’s Nikkei, Morgan Asset Management, , , Nasdaq, payrolls, NatWest Market, Fed, Federal Reserve, NAB Locations: Tokyo, Japan, Asia, Pacific, Australia, United States, Britain, U.S, Iran
Asia shares look to extend rally before U.S. jobs test
  + stars: | 2021-05-31 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +4 min
SYDNEY (Reuters) - Asian shares were trying to extend their recent rally to a third week on Monday in the hope critical U.S. jobs figures show the expected revival in hiring in May and keep the global economic recovery on track. REUTERS/Kim Kyung-Hoon/File PhotoMSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4%, having rallied 2.2% last week. Chinese blue chips slipped 0.4%, as surveys showed a slight slowdown in factory activity but a pick-up in the giant service sector. The dollar index stood at 89.983, near a five-month low. [CNY/]Concerns about global inflation and extreme volatility in cryptocurrencies has been a boon for gold which was holding at $1,906, after hitting a four-month high at $1,1912 last week.
Persons: Kim Kyung, , Patrik Schowitz, Kevin Cummins, Powell, Ray Attrill, Brent Organizations: SYDNEY, Nikkei, REUTERS, Japan’s Nikkei, Morgan Asset Management, , , Nasdaq, payrolls, NatWest Market, Fed, Federal Reserve, NAB Locations: Tokyo, Japan, Asia, Pacific, Australia, United States, Britain, U.S, Iran
MSCI’s broadest index of Asia-Pacific shares outside Japan was a fraction firmer, having rallied 2.2% last week. The main event of the week will be U.S. payrolls on Friday with median forecasts at 650,000 but the outcome uncertain following April’s shockingly weak 266,000 gain. The euro was steady at $1.2190, just off a four-month high of $1.2266 hit last week. The dollar was last at 109.93 yen after touching a two-month top of 110.19 last week. All eyes will be OPEC this week as it reviews its supply agreement, and any hint of an increase in output could pressure prices.
Persons: Kevin Cummins, Powell, , Ray Attrill, Brent Organizations: Nikkei, Japan’s Nikkei, Nasdaq, payrolls, NatWest Market, Fed, Federal Reserve, NAB Locations: Asia, Japan, payrolls, SYDNEY, Pacific, Australia, U.S, United States, Iran
Asian shares step back from two-week highs, dollar firm
  + stars: | 2021-05-27 | by ( Swati Pandey | ) www.reuters.com + 0.00   time to read: +3 min
SYDNEY (Reuters) - Asian shares retreated from two-week highs on Thursday and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top. Chinese shares started weaker with the blue-chip index off 0.2%. The dollar index was at a one-week top of 90.152. The euro fell to $1.2173, falling for a second straight session after the European Central Bank’s (ECB) Executive Board’s Director, Fabio Panetta said it was too early to taper its emergency bond buying programme. In commodities, gold prices fell below $1,900 per ounce, its appeal dimmed by a rebounding dollar and U.S. Treasury yields.
Persons: Kim Kyung, Richard Clarida, , Stephen Miller, , Jerome Powell, Randal Quarles, ” Miller, Dow, Fabio Panetta, Brent Organizations: SYDNEY, REUTERS, Japan’s Nikkei, Global, Federal, Fed, Nasdaq, Bank’s, New Zealand, U.S, Treasury Locations: China, Tokyo, Japan, Asia, Pacific
Asian shares near two-week highs, dollar firm ahead of U.S. data
  + stars: | 2021-05-27 | by ( Swati Pandey | ) www.reuters.com + 0.00   time to read: +3 min
SYDNEY (Reuters) - Asian shares reversed early losses on Thursday and hovered near two-week highs while the dollar held at a one-week top as investors awaited key U.S. data to gauge whether inflationary pressures were transient or signalled a more durable turn. In a sign of a tentative start for overseas markets, Eurostoxx 50 futures, futures for Germany’s DAX and those for London’s FTSE were all flat in late Asian trading. Chinese shares, which had started in the red turned around in late afternoon session with the blue-chip index up 0.3%. The dollar index rose to a one-week top of 90.152. In commodities, gold prices hovered near $1,900 per ounce, after hitting its highest since Jan. 8 at $1,912.50.
Persons: Kim Kyung, Germany’s DAX, Richard Clarida, Randal Quarles, Europe we’ve, Fabio Panetta, Brent Organizations: SYDNEY, REUTERS, FTSE, Japan’s Nikkei, Global, Federal, Fed, U.S, JPMorgan, Bank’s, New Zealand Locations: Tokyo, Japan, Asia, Pacific, Europe
Asia shares track Wall Street higher as inflation worries recede
  + stars: | 2021-05-25 | by ( Julie Zhu | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Issei KatoMSCI’s broadest index of Asia-Pacific shares outside Japan was up 1% at a two-week high, after U.S. stocks ended the previous session with mild gains. Australian shares were up 0.69%, while Japan’s Nikkei stock index rose 0.6%. The blue-chip CSI300 index jumped 1.89%, while the benchmark Shanghai Composite Index advanced 1.39%, reaching their highest levels since early March. Hong Kong’s Hang Seng index rose 1.05%. Overnight, Wall Street closed higher, spurred by gains in tech stocks, with the sector’s majors Apple up 1.33% and Microsoft up 2.29%.
Persons: Issei Kato, Hong, we’re, Louis President James Bullard, Brent Organizations: Reuters, REUTERS, Japan’s Nikkei, , ” ANZ, U.S, Federal Reserve, Apple, Microsoft, Dow Jones, Nasdaq, Treasury, Federal Reserve Bank of St Locations: HONG KONG, Tokyo, Japan, Asia, Pacific, Shanghai, cryptocurrencies
* Asian stock markets: tmsnrt.rs/2zpUAr4* Global asset performance tmsnrt.rs/2yaDPgn* World FX rates tmsnrt.rs/2egbfVhHONG KONG, May 25 (Reuters) - Asian shares climbed in early trade on Tuesday, tracking a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.81% at a two-week high, after U.S. stocks ended the previous session with mild gains. Australian shares were up 0.76%, while Japan’s Nikkei stock index rose 0.63%. China’s blue-chip CSI300 index jumped 0.22% in morning trade, while Hong Kong’s Hang Seng index opened up 0.41%. Overnight, Wall Street closed higher, spurred by gains in tech stocks, with the sector’s majors Apple up 1.33% and Microsoft up 2.29%.
Persons: Hong, Brent, Julie Zhu, Richard Pullin Organizations: Japan’s Nikkei, , ” ANZ, U.S, Federal Reserve, Apple, Microsoft, Dow Jones, Nasdaq, Treasury Locations: HONG KONG, Asia, Pacific, Japan, cryptocurrencies
Equities rally, dollar falls as inflation concerns grow
  + stars: | 2021-05-24 | by ( Chibuike Oguh | ) www.reuters.com + 0.00   time to read: +3 min
NEW YORK (Reuters) - Global equities gained on Monday while the dollar traded near four-month lows against major currencies as investors eye upcoming U.S. inflation readings for guidance on monetary policy. The MSCI world equity index rose 0.77% to 706.96. Europe’s broad FTSEurofirst 300 index added 0.10% to close at 1,715.51, with technology stocks helping the index hover near record highs. Japan’s Nikkei added 0.2% and Chinese blue chips 0.4%. A high core inflation reading would ring alarm bells and could revive talk of an early tapering by the U.S. Federal Reserve.
Persons: Nicky Loh, , Thomas Hayes, ” Hayes, Brent, Bitcoin Organizations: YORK, Global, REUTERS, Federal, Treasury, Great, Dow Jones, Nasdaq, Japan’s Nikkei, U.S . Federal, Fed Locations: Taipei, New York, Asia, Pacific, Japan, Europe, United States, U.S, Iran
After the strong growth shown by Friday’s surveys of the global services sectors, all eyes will be on U.S. personal consumption and inflation figures this week. The diary has a crowd of Fed speakers this week, including influential Fed Board Governor Lael Brainard, and markets will be keen to hear if they stick to the script on being patient with policy. BofA’s monthly Fund Manager survey found a record 69% of respondents expected above-trend economic growth and inflation globally. “With such bullish views on growth and inflation, the risk for investors is that growth slows and inflation proves temporary,” BofA analysts said in a note. The softness of the dollar combined with concerns about inflation and the wild volatility of cryptocurrencies to put gold back into favour.
Persons: Stocks, bitcoin, Kim Kyung, Christine Lagarde’s, Mansoor Mohi, uddin, Governor Lael Brainard, , , Lagarde, Michael Hsueh, Brent Organizations: Nikkei, REUTERS, ” Bank of Singapore, Japan’s Nikkei, Nasdaq, Sovereign, U.S . Federal Reserve, Fed, Governor, Tech, U.S, CPI, Deutsche Bank Locations: SYDNEY, Tokyo, Japan, Britain, Austria, Denmark, Hungary, Norway, Switzerland, Germany, Europe, Asia, Pacific, Belarus, United States, Gulf of Mexico, Iran
Asia shares wary of U.S. inflation, Bitcoin tries to steady
  + stars: | 2021-05-24 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-HoonMSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.4% in slow trade. BofA’s monthly Fund Manager survey found a record high 69% of respondents expected above trend economic growth and inflation globally. As a result, managers had pushed into commodities and late-cyclicals, where overweight positions were close to 15-year highs, while the single most crowded trade was Bitcoin. “With such bullish views on growth and inflation, the risk for investors is that growth slows and inflation proves temporary,” BofA analysts said in a note. The softness of the dollar combined with concerns about inflation and the wild volatility of cryptocurrencies to put gold back into favour.
Persons: Bitcoin, Kim Kyung, Governor Lael Brainard, , , Michael Hsueh, Brent Organizations: SYDNEY, REUTERS, Japan’s Nikkei, Nasdaq, U.S . Federal Reserve, Fed, Governor, Tech, U.S, CPI, Deutsche Bank Locations: Tokyo, Japan, Asia, Pacific, Bitcoin, Gulf of Mexico, Iran
Asia shares wary on U.S. inflation, Bitcoin struggles to steady
  + stars: | 2021-05-24 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Kim Kyung-HoonMSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1% in slow trade. BofA’s monthly Fund Manager survey found a record 69% of respondents expected above trend economic growth and inflation globally. As a result, managers had pushed into commodities and late-cyclicals, where overweight positions were close to 15-year highs, while the single most crowded trade was Bitcoin. “With such bullish views on growth and inflation, the risk for investors is that growth slows and inflation proves temporary,” BofA analysts said in a note. The softness of the dollar combined with concerns about inflation and the wild volatility of cryptocurrencies to put gold back into favour.
Persons: Bitcoin, Kim Kyung, Governor Lael Brainard, , , Michael Hsueh, Brent Organizations: SYDNEY, REUTERS, Japan’s Nikkei, Nasdaq, U.S . Federal Reserve, Fed, Governor, Tech, U.S, CPI, Deutsche Bank Locations: Tokyo, Japan, Asia, Pacific, Bitcoin, Gulf of Mexico, Iran
After surveys of the global service sectors out on Friday showed spectacular growth, all eyes will be on U.S. personal consumption and inflation figures this week. A high reading for the core inflation figures would ring alarms and could revive talk of an early tapering by the U.S. Federal Reserve. BofA’s monthly Fund Manager survey found a record high 69% of respondents expected above trend economic growth and inflation globally. “With such bullish views on growth and inflation, the risk for investors is that growth slows and inflation proves temporary,” BofA analysts said in a note. The softness of the dollar combined with concerns about inflation and the wild volatility of cryptocurrencies to put gold back into favour.
Persons: Bitcoin, Governor Lael Brainard, , , Michael Hsueh, Brent Organizations: Japan’s Nikkei, Nasdaq, U.S . Federal Reserve, Fed, Governor, Tech, U.S, CPI, Deutsche Bank Locations: China, SYDNEY, Asia, Pacific, Japan, South Korea, Bitcoin, it’s
Stocks slip, crypto haemorrhage deepens amid inflation worries
  + stars: | 2021-05-19 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
TOKYO (Reuters) - Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus. European stocks are expected to drop, with both Euro Stoxx futures and Britain’s FTSE futures trading about 1% lower. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3% though Hong Kong and South Korea are closed for holidays. Ether, the second largest cryptocurrency, shed as much as 15.5%, and a third of its value from its record peak hit last Wednesday. [O/R]U.S. crude futures dropped 1.0% to $64.83 per barrel while Brent futures lost 1.0% to $68.05 per barrel.
Persons: cryptocurrencies, Kim Kyung, CSI300, , Arihiro Nagata, stoking, Kazushige Kaida, Bitcoin, Brent Organizations: Nikkei, REUTERS, Japan’s Nikkei, Wall, Walmart, Home, Nasdaq, Sumitomo Mitsui Bank, Federal Reserve, State Locations: TOKYO, Tokyo, Japan, Asia, Pacific, Hong Kong, South Korea, United States, , Canada, Iran
Live Businesses Seek to Help Women Caregivers Return to Workforce: Live UpdatesFox News files a motion to dismiss Dominion’s defamation suit over 2020 election coverage. And it is another byproduct of former President Donald J. Trump’s baseless attempts to undermine President Biden’s clear victory. Lawyers for Mr. Trump shared those claims during televised interviews on Fox programs. “There are two sides to every story,” Mr. Babcock and Mr. Keller wrote in a statement on Tuesday. Fox Business canceled “Lou Dobbs Tonight” a day after Smartmatic sued Fox in February and named Mr. Dobbs as a co-defendant.
Persons: Rudolph W, Giuliani, Donald J, Trump, Joseph R, Biden, Erin Schaff, Rupert Murdoch, Biden’s, ” Fox, , Trump’s, “ Fox, Lou Dobbs, Maria Bartiromo, uncritically, Sidney Powell, Charles Babcock, Scott Keller, Ted Cruz, Fox, Paul D, Clement, George W, Bush, ” Mr, Babcock, Keller, , Newsmax, Smartmatic, Dobbs, Jonah E, Bromwich, Handy Kennedy, Michael M, Alan Rappeport, Neil Hall, Shutterstock Stocks, Coindesk, Jerome H, Powell, unaddressed Organizations: Fox, The New York Times Fox News Media, Dominion Voting Systems, Dominion, Delaware Superior Court, Fox News, Fox Business, Mr, Fox News Media, Republican, Media, Congress, Department of Agriculture, Bank, Agriculture Department, Shutterstock, Wall, Futures, Britain, Stock, Japan’s Nikkei, West Texas Intermediate, European Central Bank, Treasury, Bank of England, Eurostat Locations: Delaware Superior, Texas, Cobbtown, Black, London, Europe, Asia, U.S, Britain,
Asia shares left listless by mixed China data
  + stars: | 2021-05-17 | by ( Wayne Cole | ) www.reuters.com + 0.00   time to read: +3 min
MSCI’s broadest index of Asia-Pacific shares outside Japan eked out a rise of 0.2%, nudging further away from a four-month trough hit last week. Data suggested inflation was a global phenomenon with Japan’s wholesale prices jumping 3.6% in April from a year earlier as rising energy and commodities costs ate into corporate margins. The University of Michigan consumer survey last week showed the highest expected year-ahead inflation rate as well as the highest long-term inflation rate in the past decade. [GOL/]Oil prices edged higher after see sawing last week as the Colonial Pipeline restarted from a hacker shutdown. [O/R]Brent added 16 cents to $68.86 a barrel, while U.S. crude rose 16 cents to $65.53 per barrel.
Persons: Issei Kato, nudging, Michelle Meyer, ” Meyer, Bitcoin, Elon Musk, Tesla, Brent Organizations: SYDNEY, Nikkei, REUTERS, Japan’s Nikkei, Nasdaq, University of Michigan, BofA’s, Elon, Colonial Pipeline Locations: Tokyo, Japan, Singapore, Asia, Pacific, U.S, BofA’s U.S
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