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☆ Morning Bid: Shutdown, oil, auctions and China rankle
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +5 min

Even before U.S. markets kick off on Monday, China's ongoing property bust threw another curve ball at stocks markets there. Country Garden (2007.HK) fell more than 7% as investors nervously watch out for its latest dollar bond coupon payment on Wednesday. Fed aside, there were multiple domestic issues to trouble the horizon - not least a government shutdown next weekend. U.S. 10-year Treasury yields nudged back close to 16-year highs above 4.5% set last week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Kevin Wurm, Mike Dolan, China Evergrande, Charles Wang Zhonghe, Kevin McCarthy, Morgan Stanley, Neel Kashkari, Christine Lagarde, Isabel Schnabel, Bernadette Baum Organizations: U.S, Capitol, REUTERS, HK, hawkish U.S, Federal, Republicans, Treasury, Dallas Fed, Chicago Fed, Minneapolis Federal, European Central Bank, ECB, Reuters Graphics, Thomson, Reuters Locations: Washington , U.S, U.S, Wall St, China, HK, hawkish, St, Washington, ., California

☆ Opinion | A Look Back at Our Coming War With China
▼ + stars: | 2023-07-18 | by ( Carlos Lozada | ) www.nytimes.com time to read: +4 min

For instance, what if China seeks to take the island by force and Washington opts to not respond? Published in 2021, “2034,” is basically a beach read about how we get to nuclear war. In “The Avoidable War,” Rudd cautions that the incentives for Beijing and Washington to escalate hostilities, whether to save lives or save face, “could prove irresistible.” Ackerman and Stavridis follow that script. Both the United States and China view themselves in exceptional terms, Allison explains, as nations of destiny. “China will be a falling power far sooner than most people think,” Brands and Beckley declare.

Persons: ” Kevin Rudd, ” Rudd, Rudd, ”, Elliot Ackerman, James Stavridis, “, Allison, Thucydides, ” Ackerman, —, Xi Jinping, China’s Organizations: Marine, NATO, Harvard, U.S, . Security, Brands, Beckley, ” Brands Locations: Xi, China, Australia, Taiwan, Washington, Munich, United States, Iraq, Afghanistan, South China, U.S, Beijing, San Diego, Shanghai, India, New York, New Delhi, America, China’s, Beckley

The latest drubbing in the world's biggest bond markets, which last year suffered a record rout, does not yet point to any dysfunction in the markets themselves, investors said. But in echoes of the volatile conditions seen during March's banking crisis, trading in euro zone benchmark German government bond futures were briefly interrupted on Thursday when bond yields spiked. U.S. and British 10-year yields were also set to end the week more than 20 bps higher , . ING said earlier on Friday that this week's data was strong enough to push yields higher even if jobs numbers interrupt the moves. "It won't be as bad as that, but higher rates and higher yields could lead to negative returns and pressure returns on equity markets."

Persons: Mike Riddell, Jan von Gerich, Mark Dowding, Gael Fichan, Fichan, BlueBay's Dowding, Yoruk Bahceli, Samuel Indyk, Harry Robertson, Hugh Lawson Organizations: U.S, Federal, Allianz Global Investors, Fed, of, European Central Bank, BlueBay Asset Management, Syz, ING, Global, Thomson Locations: Europe, United States, Australia, British, Germany, Britain, U.S, of England

☆ London stocks open lower on recession fears; homebuilders worst hit
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.2%, FTSE 250 off 0.4%June 23 (Reuters) - UK's benchmark indexes extended their slide on Friday, led by a decline in homebuilders, as investors' concerns over recession heightened following the Bank of England's outsized interest rate hike. The benchmark FTSE 100 (.FTSE) was down 0.2% at 0706 GMT, while the FTSE 250 (.FTMC) mid-cap index lost 0.4%. Both indexes were on track for their worst weekly drop since the U.S. banking turmoil in March. Retail sales, however, unexpectedly rose in May, suggesting most consumers were coping with rigid inflation's impact on their spending power. Reporting by Ankika Biswas in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Ankika Biswas, Sherry Jacob, Phillips Organizations: Bank of England's, Federal Reserve, GSK, Thomson Locations: homebuilders, U.S, Norway, Switzerland, Bengaluru

Biden met with Chinese President Xi Jinping in November with that goal in mind and both leaders pledged more frequent communications. He has also sidelined some of his "wolf warrior" diplomats whose strident rhetoric alienated many of China's trade partners. Despite such pragmatic rhetoric, China's actions - especially its military activity around Taiwan and in the South China Sea - have not moderated, analysts said. Washington hopes for incremental progress on more specific but vital matters such as securing China's cooperation on fentanyl, global health, climate change and the cases of U.S. citizens detained there. That ... is more than deeply frustrating," said another source familiar with the administration's thinking, adding that China has rebuffed Washington's "very specific" proposals.

South Korea's economic growth was fast losing momentum at latest measure as higher living costs erode household income and crimp demand, pressuring the Bank of Korea (BoK) to strike a balance between inflation and growth. All but one of 30 economists in the Nov. 15-21 poll forecast the BoK would raise its policy rate (KROCRT=ECI) by 25 basis points to 3.25% on Thursday. If the majority view prevails, the BoK will take rates to the highest level since 2012. "Amid climbing concerns about growth and the credit market, the case for hiking at a more gradual pace has strengthened further." Nearly 60% of respondents, 17 of 30, forecast another hike by 25 basis points by end-March, taking rates to 3.50%.

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