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☆ Morning Bid: Vale Charlie Munger
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

Vice-Chairman of Berkshire Hathaway Corporation Charlie Munger speaks to Reuters during an interview in Omaha, Nebraska May 3, 2013. The union of Munger and Warren Buffett is among the most successful in the history of business, transforming Berkshire Hathaway into a multi-billion dollar conglomerate. Often handy with a one-liner Munger summed up his fame in 2010: "I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick," he said. Two-year Treasury yields fell to a four-month low just below 4.70%. Ten-year Treasury yields hit a two-month low of 4.28%.

Persons: Charlie Munger, Lane, Tom Westbrook, Warren Buffett, Berkshire Hathaway, Munger, Christopher Waller, Waller's, China's stockmarkets, Sam Holmes Organizations: Berkshire Hathaway, Reuters, REUTERS, Investors, Swiss, greenback, Spanish CPI, Thomson Locations: Omaha , Nebraska, Munger, Berkshire, Asia, New, Spanish

☆ Asia stocks hit 2-week high as Fed talk turns dovish
▼ + stars: | 2023-10-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. The S&P 500 (.SPX) gained overnight and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.3% to a two-week high in morning trade. "I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic told the American Bankers Association, to applause, in Nashville on Tuesday. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. European gas prices, which had jumped on news of the Middle East violence, surged further on Tuesday on concern a gas pipe in Finland was sabotaged.

Persons: Tyrone Siu, Raphael Bostic, Peter Dragicevich, Brent, Vivek Dhar, Sam Rines, Sam Holmes Organizations: REUTERS, Federal Reserve, paring, Japan's Nikkei, Atlanta Fed, American Bankers Association, Treasury, New Zealand, U.S, CPI, Fed, Bloomberg, HK, Benchmark, Samsung, Pepsi, Thomson Locations: Exchange, Hong Kong, China, SINGAPORE, paring U.S, Asia, Pacific, Japan, Nashville, Tuesday's, Israel, Finland, Estonia, Europe, Texas

☆ Dollar shines as oil surge spooks investors
▼ + stars: | 2023-09-28 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. U.S. crude rose 3.6% overnight and another 1% on Thursday to hit $95 a barrel for the first time since August 2022. "The rise in oil increased the upward pressure on bond yields (and) the combo of higher oil, higher yields, and a higher greenback tends not to augur well for equities." It is down more than 3% in September to eye its largest monthly fall on the dollar since April 2022. Shares in indebted developer China Evergrande (3333.HK) were suspended after a report that its chairman was placed under police surveillance.

Persons: Brendan McDermid, Brent, Kyle Rodda, HSI, Gold, Muralikumar Organizations: New York Stock Exchange, REUTERS, Japan's Nikkei, HK, Thomson Locations: New York City, U.S, Hong Kong SINGAPORE, Cushing , Oklahoma, Asia, Pacific, Japan, China, .

☆ Stocks stumble as 'dollar juggernaut' on a roll
▼ + stars: | 2023-09-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in early trade and is down 1.4% for the week. "China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda. U.S. suppliers' shares had fallen overnight and helped drag the S&P 500 (.SPX) 0.3% lower and the Nasdaq (.IXIC) down by 0.9%. The Australian dollar is down more than 1% on the week and traded at $0.6384 on Friday.

Persons: Issei Kato, TSMC, Kyle Rodda, Masato Kanda, Hirokazy Matsuno, Brent, Heekyong Yang, Shri Navaratnam Organizations: REUTERS, Rights, Japan's Nikkei, South Korea's SK Hynix, Huawei Technologies, Tokyo, Apple, Nasdaq, ANZ Bank, European Central Bank, Treasury, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Hong Kong, China, South Korea's, Europe, Seoul

☆ Asia stocks slump to monthly loss as China data disappoints
▼ + stars: | 2023-05-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Australian dollar is sliding towards a fourth consecutive monthly loss and at $0.6492 is barely above last week's seven-month lows. Aussie stocks (.AXJO) are eying their worst month since February with a 2.4% drop. Based on these factors, we raise our end-2023 targets for Japanese stocks, to 2,300 for TOPIX and 32,500 for the Nikkei 225." Benchmark 10-year yields dropped 12.4 basis points overnight and fell another 1.5 bps on Wednesday in Asian trade to 3.6808%. The drop in yields put a pause in what looks to be the U.S. dollar's best monthly rally since February.

Persons: stockmarkets, Carol Kong, Masashi Akutsu, Joe Biden, Treasuries, Philip Lowe, Sam Holmes Organizations: Nikkei, Commonwealth Bank of Australia, of America, Republican, Brent, Thomson Locations: China, Asia, Japan, SINGAPORE, Pacific, U.S, United States

The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. "I will not put any more money into stocks until all my losses are recovered," he said. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao.

The easiest trade of the year is fizzling, and the lost momentum is keeping investors' money out. Interviews with a dozen more small investors showed the sentiment to be reasonably widespread. Brokerage account creation, while volatile, likewise dropped off in April after promising momentum in February and March, China Securities Depository and Clearing data showed. "It is as if stocks are losing faith in the China recovery story," said Grow Investment Group chief economist Hong Hao. China's April industrial output and retail sales growth undershot forecasts as the recovery turned wobbly.

Persons: Eric Yu, Yi Huiman, Hong Hao, Wang Zaizheng, Chi Lo, Hayden Briscoe, Meng, Jason Xue, Winni Zhou, Tom Westbrook, Shri Navaratnam Organizations: China Securities Regulatory, JPMorgan, China Securities Depository, Mutual, Grow Investment Group, Management, UBS Asset Management, Thomson Locations: SHANGHAI, SINGAPORE, China's, Shanghai, China, United States, Hong Kong, Asia, Pacific, Singapore

Higher rates benefit the dollar by improving its yield and as traders look for safety while global stockmarkets drop. The dollar hit a two-month high against the euro of $1.0524 , extending Tuesday's 1.2% jump. The Australian dollar has weakened for a similar reason as the Reserve Bank of Australia has softened its tone. Having dropped over 2% on Tuesday, the Australian dollar weakened a bit more to hit a four-month low of $0.6568 on Wednesday. China's yuan finished the domestic session at 6.9706 per dollar, the weakest such close since Dec. 29, 2022.

☆ Powell's warning on higher U.S. rates pushes dollar to 3-mth high
▼ + stars: | 2023-03-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Higher rates benefit the dollar by improving its yield and as traders look for safety while global stockmarkets drop. The dollar hit a two-month high of $1.0528 to the euro , extending Tuesday's 1.2% jump. The Australian dollar has weakened for a similar reason as the Reserve Bank of Australia has softened its tone. Futures imply U.S. rates peaking above 5.6% and holding higher than 5.5% through 2023. The U.S. dollar index rose 0.2% in Asia trade to a more than three-month high of 105.86.

☆ Stocks firm, dollar on edge ahead of Fed decision
▼ + stars: | 2023-02-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Fed will announce its rate decision at 1900 GMT, followed by a news conference with Chair Jerome Powell half an hour later. Currency trade has been in a holding pattern ahead of the Fed and Bank of England and European Central Bank meetings that follow on Thursday. But the U.S. wages data wiped out some small dollar gains made earlier this week amid some nerves that the Fed sticks to its hawkish stance. United Parcel Service (UPS.N), the world's biggest package delivery firm, beat forecasts and shares rose 4.7%. Prices for dollar bonds in Adani Group companies were steadying in Asia trade on Wednesday after last week's rout.

☆ Dollar stands firm while traders await CPI
▼ + stars: | 2023-01-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The U.S. dollar was steady elsewhere, loitering just above a seven-month low on the euro at $1.0737 in the lead-up to U.S. inflation data due on Thursday. The dollar was steady at 132.23 Japanese yen and $1.2161 per British pound . U.S. government bond yields, which have been attracting investors to the dollar, fell overnight and upbeat sentiment in equities lifted stockmarkets. "Another downward surprise to the core CPI would cement the deceleration trend," Commonwealth Bank of Australia strategist Joe Capurso said. The Singapore dollar has scaled 19-month highs this week and the Thai baht nine-month tops in anticipation of tourism picking up as China's borders open.

☆ Festivity on hold for stocks as rate hikes beckon
▼ + stars: | 2022-12-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Japan's Nikkei (.N225) fell 1% in early trade and the yen , which rose about 0.5% to 136.00 per dollar, was the biggest mover in quiet currency trade. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.4%. The yen has been the worst-performing G10 currency this year, with a 15% loss against the dollar, driven mainly by the gap between rising U.S. rates and anchored Japanese rates. U.S. rates were steady last week, despite the Fed projecting further hikes ahead, as traders fret that interest rates are already high enough to start hurting economic growth. It is down 20% for the year and has failed in several attempts at sustainably trading above its 200-day moving average.

☆ Stocks rally sputters as growth fears deepen
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

"We might be transitioning from a situation of worrying about inflation and interest rates, to one where the negatives become weakening growth and falling profits." The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6696 despite Australian third-quarter growth coming in a bit below forecasts. The Canadian dollar hovered at 1.3644 per dollar ahead of an expected rate hike from the Bank of Canada later on Wednesday.

☆ Stocks rally sputters as growth fears resurface
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 7 (Reuters) - Asia's stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China's reopening. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4% and Japan's Nikkei (.N225) fell 0.5%. The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6707 despite Australian third-quarter growth coming in a bit below forecasts.

FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. A message on the FTX website said: "FTX is currently unable to process withdrawals. "The dagger will continue to hang over the crypto market, as long as the outlook of FTX's fate remains unclear." 'CONFIDENCE CRISIS'There are also early signs that the fallout could spread beyond crypto markets, with jittery stockmarkets sliding on Wall Street overnight. Most crypto players remain bullish about the long term, but are braced for further falls in the near future.

☆ War and prospect of rate hikes hoist dollar, gilt wipeout hits Treasuries
▼ + stars: | 2022-10-11 | by ( Selena Li | ) www.reuters.com time to read: +3 min

"Sentiment has also not been helped by a big core global bond sell off led by UK gilts, notwithstanding a flurry of announcements designed to calm UK debt markets," he added. Treasury yields jumped when trading resumed after Monday's U.S. holiday, with 30-year yields up 11 basis points to an almost nine-year high of 3.956%. That outlook is giving dollar bulls another run and has the greenback drifting toward the milestone highs it scaled last month. The Aussie made a 2-1/2 year low of $0.6260 in the Asia session and the kiwi a low of $0.5541. The Japanese yen , at 145.75 per dollar, was within a few pips of the level that prompted official support a couple of weeks ago.

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