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Bank stocks climbed and Treasury yields rose Tuesday, as some traders anticipated that financial-sector distress could remain contained and leave the Federal Reserve free to focus on tackling inflation. Trading steadied compared with Monday’s stormy session, which brought a deep rout for bank stocks and a rally for government bonds. Over the past week, the collapse of Silicon Valley Bank and the shutdowns of Signature Bank and Silvergate Capital heaped new fears of financial strain on top of investors’ yearlong preoccupation with inflation.

☆ SVB contagion fears hammer banks, roil markets
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +4 min

The Tokyo Stock Exchange banks index (.IBNKS.T) fell more than 7%, setting it on course for its steepest drop in nearly six months. Banks shares in Singapore and Australia fell. Heavy selling hit U.S. regional bank stocks overnight and traders raced away from bets on U.S. rate hikes, reckoning the instability would turn policymakers cautious. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Bank stocks had run up (when) it was thought that monetary policy might normalise a bit," said Jamie Halse, who manages a Japan-focused fund at Platinum Asset Management in Sydney.

☆ Bank slide deepens as SVB contagion fear rattles markets
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +4 min

The Tokyo Stock Exchange banks index (.IBNKS.T) fell more than 5%, setting it on course for its steepest drop in nearly six months. Banks shares in Singapore and Australia fell. Heavy selling hit U.S. regional bank stocks overnight and traders raced away from bets on U.S. rate hikes, reckoning the instability would turn policymakers cautious. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Bank stocks had run up (when) it was thought that monetary policy might normalise a bit," said Jamie Halse, who manages a Japan-focused fund at Platinum Asset Management in Sydney.

☆ Analysis: Door slams on Japan bank rally as focus turns to bond holdings in wake of SVB
▼ + stars: | 2023-03-14 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Losses in Silicon Valley Bank's bond portfolio have highlighted similar risks for Japanese lenders' gigantic foreign bond holdings, which are carrying over 4 trillion yen ($30 billion) in unrealised losses. Three days of selling has the Tokyo Stock Exchange banks index (.IBNKS.T) down 16% - its sharpest drop since the days after the 2011 earthquake and tsunami struck Japan. Reuters GraphicsBONDS GETTING HITMost of the time, bond losses aren't a problem for banks, which typically hold their investments to maturity. An annual Bank of Japan report published on Tuesday said Japanese financial institutions have sufficient capital buffers. "And maybe some concerns Japanese banks have exposures, and some profit taking," he said.

New bank lending fell much less than expected in February from a record high the previous month. Chinese banks extended 1.81 trillion yuan ($260 billion) in new loans last month. Analysts polled by Reuters had predicted they would fall to 1.50 trillion yuan from 4.9 trillion yuan in January, and compared with 1.23 trillion yuan a year earlier. Household loans, mostly mortgages, fell to 208.1 billion yuan in February from 257.2 billion yuan in January, while corporate loans fell to 1.61 trillion yuan from 4.68 trillion yuan. TSF for the month of February fell to 3.16 trillion yuan from 5.98 trillion yuan in January, but was still well ahead of expectations for 2.20 trillion yuan.

☆ A major inflation report and fallout from Silicon Valley Bank hang over markets in week ahead
▼ + stars: | 2023-03-10 | by ( Patti Domm | In | ) www.cnbc.com time to read: +7 min

February's consumer inflation report should be a big driver for markets in the week ahead, as investors watch for continued fallout from the shutdown of SVB Financial Group's Silicon Valley Bank. The consumer price index report on Tuesday is the last major inflation data ahead of the Federal Reserve's March 21 and 22 meeting. Silicon Valley Bank's troubles overshadowed nearly everything else in markets Thursday and Friday, as investors sought safety in the bond market and sold bank stocks. Those odds had been as high as 70% before the Silicon Valley Bank news began to hit the market. Now inflation data is being watched carefully since a very hot number could mean the Fed will become more aggressive.

☆ Morning Bid: Is China exporting deflation?
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

Relief wasn't immediate, as the figures were tinged by doubt on the robustness of China's consumption rebound, with inflation in the country also at its slowest in a year. That's likely welcomed since analysts are making their latest upward revisions to U.S. and European interest rate expectations and do not need another inflationary shock from China's reopening. European futures steadied in Asia as markets assumed a holding pattern with the focus on U.S. data as the driver of interest rate movement. The Bank of Japan concludes a two-day meeting on Friday, though it is increasingly dancing to its own beat. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%; Japanese stocks rose 0.6% on Thursday.

☆ Crypto stocks slide after Silvergate decides to shut down
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The crypto lender's shares slumped 45% to $2.86, a day after hitting a record low and losing 64% since the company flagged a going concern risk on March 1. Shares of Signature Bank (SBNY.O), which uses blockchain technology, fell 9%. Crypto exchange Coinbase Global (COIN.O), which severed ties with the bank last week, dropped 3%. Silvergate's announcement also adds to a list of high-profile collapses of crypto market players since last year. With Silvergate shares down 95% over the past 12 months, and 72% so far this year, shorting has been a profitable trade for bearish investors.

LONDON, March 9 (Reuters) - Bitcoin steadied on Thursday near its lowest since mid-February, after U.S. crypto-focused bank Silvergate said it would voluntarily liquidate, the latest in a series of high-profile crypto collapses triggered by the collapse of the FTX exchange. Silvergate Capital Corp (SI.N) said on Wednesday it planned to close and voluntarily liquidate, after warning last week that it was evaluating its ability to operate as a going concern. Bitcoin was last down 0.4% at $21,624 , having fallen 2.2% on Wednesday to a 3-1/2 week low of $21,590. Multiple partners of the bank, including major crypto exchange Coinbase Global Inc (COIN.O), severed ties with Silvergate last week. Others, including Binance, said they did not have any asset losses at Silvergate.

Brent crude futures rose 18 cents, or 0.2%, to $83.47 per barrel by 0452 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 4 cents to $77.62 a barrel. Data from the American Petroleum Institute showed U.S. crude inventories fell by about 3.8 million barrels in the week ended March 3, according to market sources. The drawdown defied forecasts for a 400,000 barrel rise in crude stocks from nine analysts polled by Reuters. Traders were awaiting crude inventory data from the U.S. Energy Information Administration later on Wednesday, after the API data showed a decline in crude inventories for the first time after a 10-week build, she added. Powell's comments propelled the U.S. dollar, which typically trades inversely with oil, to hit a three-month high against a basket of currencies.

☆ Oil stabilises as surprise US crude draw offsets rate hike jitters
▼ + stars: | 2023-03-08 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Brent crude futures for April gained 8 cents to $83.37 per barrel by 0120 GMT. U.S. West Texas Intermediate (WTI) crude futures lost 4 cents to $77.54 a barrel. Supporting the market on Wednesday, data from the American Petroleum Institute showed U.S. crude inventories fell by about 3.8 million barrels in the week ended March 3, according to market sources. The drawdown defied forecasts for a 400,000 barrel rise in crude stocks from nine analysts polled by Reuters. Gasoline inventories rose by about 1.8 million barrels, while distillate stocks rose by about 1.9 million barrels, according to the sources, who spoke on condition of anonymity.

☆ Morning Bid: Don't fight central banks
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Anshuman DagaJudging by the improved mood in global equity markets, investors are once again having a go at central banks. Will Powell be able to send a decisive message to markets about the future pace of interest rate increases? Fed, ECB and BoE 'terminal rates' riseThe European Central Bank has already raised rates to 2.5%, a 3 percentage point increase since July and essentially promised another half a percentage point increase on March 16. Strategists at BlackRock Investment Institute expect the trend to end as recent data pushes the European Central Bank to raise rates and keep them higher for longer. And Schroders' analysts are in the camp of those who expect interest rates to be kept on hold by the ECB from March.

See more mortgage rates on Zillow Real Estate on ZillowCurrent Refinance RatesMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesThe current average 30-year fixed mortgage rate is 6.65%, according to Freddie Mac. 15-year Fixed Mortgage RatesThe average 15-year fixed mortgage rate is 5.89%, an increase from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

☆ Stocks pinned to lows as rate fears weigh
▼ + stars: | 2023-03-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Softer-than-expected growth and inflation data in Australia sent the Aussie dollar to a two-month trough at $0.6696 in early trade, but lifted the local stockmarket (.AXJO) from lows as traders wound back interest rate expectations. The mixed tone of data in the last few days seems to have lots of assets pausing at major chart levels. Two-year Treasury yields , a guide to short-term U.S. rate expectations, are close to four-month highs, but at 4.8407% are below a November peak of 4.8830%. Commodities steadied as China demand hopes balance global growth concerns, and Brent crude sat at $83.45 a barrel. "Should Beijing send Russia arms, it risks a rapid geopolitical breaking of the world economy," said Rabobank's research head, Jan Lambregts.

☆ Oil steadies after fall on fear of rate hikes, rising inventories
▼ + stars: | 2023-02-28 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

"The stronger than expected inflation numbers raised concerns about further hikes in interest rates, which has already curbed demand in the U.S.," ANZ analysts said in a client note. The possibility that slower-growing wages might help limit inflation, however, kept crude from moving lower. The market will be looking out for the latest U.S. oil stocks data due from the American Petroleum Institute industry group on Tuesday and the government's Energy Information Administration on Wednesday for further demand indicators. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds. Helping to put a floor on prices, distillate inventories, which include diesel and heating oil, were expected to have decreased by about 500,000 barrels last week.

☆ Sterling holds gains after rising on UK trade deal with EU
▼ + stars: | 2023-02-28 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Feb 28 (Reuters) - The pound held steady on Tuesday, retaining gains overnight after Britain struck a new trade deal with the European Union, which brightened the outlook for the post-Brexit UK economy and signalled improved relations between London and the bloc. The dollar was mostly flat in early trade but was on track to end higher for the month, ending a four-month losing streak. The euro similarly got a lift and was last 0.05% higher at $1.0614, after rising 0.6% on Monday. The British parliament will now vote on the deal, with the opposition Labour Party saying it will vote in favour. "The real thing is, is this a springboard for a stronger, much improved removal of trade frictions more generally, between the UK and the EU?"

☆ Morning Bid: Irksome inflation won't die down
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +4 min

Friday's latest U.S. inflation surprise was matched in Europe on Tuesday, with French and Spanish headline inflation rates unexpectedly rising again in February - making for an uncomfortable final day of a transformative month for markets. And worryingly, market-based measures of inflation expectations are rising sharply again too. U.S. two-year 'breakeven' inflation rates , taken from inflation-protected Treasury securities, have jumped 80 basis points this month to 2.8% - wiping away the prior assumption that inflation would return to the Fed's 2% target over two years. In Europe, the five year, five-year forward inflation linked swap has jumped 20bps to a 9-month high just under 2.5%. Stock markets steadied after early losses, with U.S. futures only slightly in the red ahead of the open and month end.

☆ Nvidia cheer ripples through chips as investors assess Fed minutes
▼ + stars: | 2023-02-23 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

[1/3] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 24, 2023. The MSCI all country share index (.MIWD00000PUS) was slightly firmer, adding to the year's 4.5% advance, after falling nearly 20% in 2022. The yield on 10-year Treasury was slightly firmer at 3.9254%. The Australian and New Zealand dollar were both slightly firmer against the dollar. Fed officials Mary Daly and Raphael Bostic are also due to make appearances later on Thursday.

☆ Asia stocks see bright side after Nvidia sounds upbeat
▼ + stars: | 2023-02-23 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Shares in the giant Taiwan Semiconductor Manufacturing Co (2330.TW) rose 2.2% to lift Taiwan's benchmark (.TWII) 1.3%. A 4% gain for SK Hynix (000660.KS) and a 2% gain for Samsung (005930.KS) drove South Korea's Kospi (.KS11) 1% higher. The Bank of Korea also offered some relief by ending a year-long run of uninterrupted rate hikes with a pause - as expected. Wall Street indexes fell overnight and are eyeing their worst week of the year so far as stronger-than-forecast U.S. labour, inflation, retail sales and manufacturing figures have traders pricing interest rates staying higher for longer. "Markets have been forced to reprice interest rate expectations, not just higher, but also questioning the view that once peak rates are hit, central banks will pivot quickly to cutting interest rates," said ANZ economist Finn Robinson.

☆ Stocks struggle to make headway as rate rises loom
▼ + stars: | 2023-02-23 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) touched its lowest since Jan. 6 in early trade. Nasdaq futures (.NQc1) rose 0.9% after a revenue beat at chip designer Nvidia (NVDA.O) sent its shares up 9% after-hours. Oil nursed sharp overnight losses, and Brent crude futures clung to support around $80 a barrel on Thursday. "Markets have been forced to reprice interest rate expectations, not just higher, but also questioning the view that once peak rates are hit, central banks will pivot quickly to cutting interest rates," said ANZ economist Finn Robinson. The Bank of Korea did, however, offer some dose of relief by ending a year-long run of uninterrupted rate hikes with a pause.

☆ Dollar firms as investors brace for higher-for-longer rates scenario
▼ + stars: | 2023-02-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

However, they also indicated curbing unacceptably high inflation would be the "key factor" in how much further rates need to rise. The dollar paused its ascent on Thursday after gaining broadly on the back of the release. "The meeting minutes were pretty much within expectations ... the markets are now pricing for higher-for-longer rates," said Tina Teng, market analyst at CMC Markets. "The resilience (of the U.S. economy) prompts the Fed to keep raising interest rates ... pushing up the U.S. Against a basket of currencies, the U.S. dollar index stood at 104.50, and was attempting to break a more than one-month peak of 104.67 hit last week.

☆ Dollar rally loses steam as traders wait on Fed, data
▼ + stars: | 2023-02-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Feb 21 (Reuters) - The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further. Strong U.S. labour data and sticky inflation have raised U.S. rate expectations and supported the dollar's rally so far this month - Tuesday's European and U.S. manufacturing data and Friday's core PCE price index will guide the next steps. "I suspect that further significant dollar strength will require the Fed Funds futures market to start pricing in a 50 basis point rate hike in March," he said. The New Zealand dollar held at $0.6259 ahead of a central bank meeting on Wednesday. Overnight the Swedish crown jumped as inflation turned sticky and central bank minutes showed policymakers prepared to keep hiking.

☆ Walmart will report holiday-quarter earnings before the bell — here's what to expect
▼ + stars: | 2023-02-21 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

Customers exit a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Walmart will report its holiday-quarter earnings on Tuesday morning, as investors and economists try to gauge the health of the American consumer. Here's what analysts expect Walmart to report for the fiscal fourth quarter, according to Refinitiv consensus estimates:Earnings per share: $1.51 expectedRevenue: $159.72 billion expectedWalmart is expected to share its outlook for the year, too. Over the past two quarters, the company said about 75% of its market share gains in food came from households that make more than $100,000 a year.

☆ Struggling Southampton grab vital 1-0 win at goal-shy Chelsea
▼ + stars: | 2023-02-18 | by ( Clare Lovell | ) www.reuters.com time to read: +2 min

LONDON, Feb 18 (Reuters) - A trademark James Ward-Prowse free kick earned basement club Southampton a precious three points at Chelsea in a scrappy 1-0 Premier League win on Saturday and piled more pressure on home coach Graham Potter. Azpilicueta needed nearly 10 minutes of treatment on the pitch in the second half after he received a kick to the head in a goalmouth clash. Chelsea are languishing in 10th place on 31 points from 23 games and are 10 points adrift of the top four. Southampton have now done the double over Chelsea this season after beating them 2-1 in August, a month before Potter took over from the sacked Thomas Tuchel. ($1 = 0.8309 pounds)Reporting by Clare Lovell; Editing by Ken Ferris and Clare FallonOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: After costly bond issue, Mexico's Pemex banks on high oil prices to pay off debt -sources
▼ + stars: | 2023-02-15 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

The high cost of borrowing forced a recalibration in Pemex and renewed determination to avoid the market, two company sources familiar with the matter said. Pemex has said it must pay back some $8 billion of financial debt this year and $8.7 billion next. But both sources said Pemex was banking on high crude oil prices to maintain the investments for this year as well as meet its financial obligations - without issuing more bonds. Financial debt started ballooning years ago when the oil company took on debt to pay its debts. Pemex declined to reveal the total value of debt payments due and Reuters was unable to independently calculate the figure.

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