DIRS.INFO The most relevant business & tech news

Japan's 10-year bond yield, trading at 0.4%, fell on Wednesday but is not far off its highest levels since 2015. Total holdings of foreign bonds by Japanese institutional investors, excluding Japan's $1 trillion reserve portfolio, reached $3 trillion at their peak. GOING HOMEThe implications of higher inflation and a possible end to ultra-low rates are not lost on Japanese investors. Still, anticipating a shift, Japanese investors sold a net 2.1 trillion yen ($15.94 billion) of foreign bonds in December, marking a fourth straight month of selling. According to Nomura, Japanese investors have been far more active buyers of global and overseas equities than domestic stocks in the last decade.

☆ Yen perched near 7-month high as BOJ looms
▼ + stars: | 2023-01-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 17 (Reuters) - The dollar drifted off multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The euro reached a nine-month high on Monday at $1.0874, but was last loitering around $1.0830. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.

☆ Explainer: What is happening in Japan's bond market?
▼ + stars: | 2023-01-16 | by ( Junko Fujita | ) www.reuters.com time to read: +4 min

TOKYO, Jan 16 (Reuters) - Market forces have pushed Japanese government bond yields above policy targets. Here is what is happening and what it means:WHAT IS JAPAN'S BOND MARKET? To stimulate lending, growth and inflation, the Bank of Japan has pinned short-term interest rates at -0.1% and 10-year yields around zero since 2016. That swap yield may indicate where the 10-year bond could be if the BOJ left the market alone. "Unless the BOJ reduces its presence in the market and changes its stance that it is controlling the yield level, market liquidity won't improve."

Japan's Nikkei (.N225) fell 0.4% and the yen, which surged 2.7% against the dollar overnight, kept going and rose about 0.2% further to 128.65 per dollar. "No change in policy this month would be a setback for the yen," said Rabobank FX strategist Jane Foley. "However, we would look to buy the yen against the dollar on dips on anticipation of another (policy) move ... in the spring." INFLATION IN RETREATBeyond Japan, market sentiment was dominated by overnight U.S. December inflation data that landed more or less on consensus expectations. The U.S. dollar dropped 0.9% to a nine-month low of $1.0868 per euro and the risk-sensitive Australian dollar rose to a roughly five-month high at $0.6984.

☆ Take Five: Much to say in Tokyo (and Davos)
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +5 min

U.S. earnings and retail sales numbers, a slew of China data and inflation readings elsewhere mean there's plenty to mull over. Recent data showed Tokyo inflation at double the central bank's target. Reuters Graphics Reuters Graphics3/ HOPE AND FEARU.S. retail sales data and more earnings reports are on tap. Before then comes December's data deluge, with industrial output (CNIO=ECI), retail sales (CNRSL=ECI) and Q4 economic growth data (CNGDP=ECI) lining up to be ugly. Economists expect retail sales to have dropped 7.8% for a fourth straight monthly decline and for annual growth to finish up at a meagre 1.8%.

☆ NBA roundup: Luka Doncic, Mavs survive 2OT battle with Lakers
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +5 min

Another reserve, Jordan Nwora added 16 points, hitting 4 of 8 from long range. Malcolm Brogdon added 16 points while Derrick White added 15 as Boston shot 47.7 percent and began surging ahead while Tatum rested early in the fourth. James Harden added 24 points, 15 assists and six rebounds, and Tyrese Maxey scored 17 points. Anunoby had 15 points and four steals and Fred VanVleet contributed 11 points and eight assists. Terry Rozier added 21 points and Mason Plumlee had 16 points and 15 rebounds.

Bonds also rose, mirroring hopes of a softer inflation report, and the U.S. dollar was near seven-month lows against a basket of currencies. Europe's STOXX 600 (.STOXX) equity benchmark index rose 0.6% to its highest since April 2022. Roberto Lottici, portfolio manager at Banca Ifigest, said he was concerned markets could potentially even react negatively to any big downside surprise in the U.S. CPI data. Foreign exchange markets elsewhere were quieter ahead of the U.S. CPI data while China's reopening kept a bid under Asia's currencies. The dollar index eased 0.1% to 103.06, not far from a seven-month low of 102.93 hit this week.

☆ Stocks becalmed before potential CPI storm
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

European futures rose 0.4%. Bonds held overnight gains and the U.S. dollar was pinned near a seven-month low at $1.0769 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. U.S. Treasuries added a little to overnight gains, with benchmark 10-year yields down 3.7 bps to 3.5189% and 30-year yields down 4.4 bps to 3.6375%. Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ Asia stocks hit 7-month high on China and CPI bets
▼ + stars: | 2023-01-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% and touched an almost seven-month high. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro . "(It) is the CPI number that could help settle the debate for the February meeting," said NatWest Markets' U.S. rates strategist Jan Nevruzi. "We expect a below consensus CPI print, which if it materialises, could push this rally even further." Foreign exchange markets were elsewhere holding their breath ahead of CPI data while China's reopening kept a bid under Asia's currencies.

☆ 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.

Shifts in tones at big banks suggest they are warming up to Chinese equities, especially as the strong returns so far and the fear of missing out on more gains start to apply pressure. "This is still a long path and we remain very bullish on Chinese equities ...and also the currency," he said. "When the market goes up, naturally that will attract international investors to look at China again," said Nicholas Yeo, head of China equities at abrdn. Foreign investors bought a net 41 billion yuan ($6.06 billion) of China stocks via the China-Hong Kong Stock Connect Scheme so far this year, compared with 90 billion yuan of China stocks bought in all of 2022. They bought a net 35 billion yuan of China stocks in December.

☆ Morning Bid: Goodbye to all that
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom Westbrook:After three years, travellers are streaming into China by air, land and sea. the official newspaper of the Chinese Communist Party, the People's Daily, wrote on Sunday. The yuan punched through its 200-day moving average to its highest since August, and the dollar was in retreat wherever Chinese tourists are expected. The twin hopes, then, of a gentler Fed and reviving China are holding recession fears at bay. In emerging markets, focus is on the open of trade in the Brazilian real after hundreds of supporters of far-right former President Jair Bolsonaro were arrested during an invasion of the country's Congress, presidential palace and Supreme Court.

☆ Draymond Green Sets Us Straight on the Real N.B.A.
▼ + stars: | 2023-01-09 | by ( David Marchese | ) www.nytimes.com time to read: +20 min

Mamadi Doumbouya for The New York Times Talk Draymond Green Sets Us Straight on the Real N.B.A. Celtics have a die-hard fan base that’s going to root hard for the Celtics. But when I’ve listened to it, it’s not as if you’re saying things that are all that far away from what pundits or analysts are saying. I don’t think it affected who I was, who I am, because my mom never allowed it to. So when I say what he said is irrelevant, I’m saying that from the standpoint of, Let me not deflect.

☆ NBA roundup: Hornets come out firing, blow out Bucks
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +7 min

Tyrese Maxey led the Sixers with 26 points and Tobias Harris had 22 points and 11 rebounds. Romeo Langford added 15 points for San Antonio, with Malaki Branham hitting for 14 and Jeremy Sochan 10. Daniel Gafford had 15 points and nine rebounds, and Kristaps Porzingas added 14 points and 10 rebounds. John Wall had 14 points and eight assists, and Moses Brown produced 14 points and 11 rebounds. Bam Adebayo recorded 21 points and 11 rebounds and Jimmy Butler added 20 points and six assists for the Heat.

☆ Morning Bid: Relentless
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

No compromise is forthcoming, either, on Capitol Hill, with 11 failed attempts at installing Kevin McCarthy as House speaker underscoring dysfunction there. The MSCI Asia ex-Japan index (.MIAPJ0000PUS) hit a four-month high on Friday, while Wall Street indexes test recent lows. European inflation data on Friday can set the stage for U.S. jobs data due later in the day as the figures can offer the latest state-of-play for consumer prices and the economy. A bigger-than-expected drop in the speed of German consumer price rises unleashed a bond rally across Europe earlier this week. The U.S. economy likely maintained a solid pace of job and wage growth in December, and that could again stymie bets that an end to rate rises is coming anytime soon.

More than 30 mutual funds launched this week, mostly equity-focused, offering vehicles for recovery bets. Yang Delong, chief economist at First Seafront Fund Management expects China's economic growth to exceed 5% this year as COVID curbs are scrapped. Cao Ludi, fund manager at Fullgoal Fund Management, predicts an "N-shaped" economic recovery, as an expected Spring revival in activity will likely succumb to a harsh reality check in the second quarter. She advised against chasing the high-flying real estate and tourism stocks, as their "fundamentals remain a question mark." This should mean economic recovery by the second quarter, if not earlier."

☆ Asia stocks hit 4-month high on reopening of Chinese economy
▼ + stars: | 2023-01-05 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1% to touch a four-month high in morning trade. China has abruptly dropped ultra-strict curbs on travel and activity, unleashing the virus on the nation's 1.4 billion people. The yuan rose about 0.2% to 6.8750 on Thursday. China has partially eased an unofficial ban on Australian coal imports and the Australian dollar made a three-week high overnight just below $0.69. In Europe, unseasonally warm weather has disappointed skiers but been a boon for a euro basking in falling gas prices.

China reported one new COVID-19 death in the mainland for Wednesday, compared with five a day earlier, bringing its official death toll to 5,259. Chinese health officials have said only deaths caused by pneumonia and respiratory failure in patients who had the virus are classified as COVID deaths. The methods for counting COVID deaths have varied across countries since the pandemic first erupted in the central Chinese city of Wuhan in late 2019. British-based health data firm Airfinity has estimated about 9,000 people in China are probably dying each day from COVID. TESTING WASTEWhile countries try to get more information on the extent and severity of China's outbreak, several have imposed requirements on travellers from China to be tested for COVID.

☆ German inflation surprise hits brakes on dollar's slide
▼ + stars: | 2023-01-04 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 4 (Reuters) - The euro nursed losses on Wednesday and has helped the dollar to make a strong start to 2023, after a surprise slowdown in German inflation rallied bunds and sent the common currency sliding. The euro fell 1% overnight, its sharpest drop in more than two months, and it hovered near three-week lows at $1.0550 early in the Asia session. Along with a nervous mood as U.S. stocks fell, the move gave the dollar a broader boost and stopped a rising yen in its tracks. The jump tapped the brakes on a three-month slide for the index. Headline German CPI fell to an annual 8.6% in December, from 10% the previous month, against expectations for 9.1%.

☆ Morning Bid: Making waves
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Surveys out over the weekend showed China's factory activity in December shrank at the sharpest pace in nearly three years as COVID infections swept through production lines. About 9,000 people in China are probably dying each day from COVID, health data firm Airfinity said last week. Still, as trading progressed on Tuesday morning, traders appeared to be weighing longer-run prospects for the world's second-largest economy after the worst of the COVID waves had passed. The Chinese yuan rose to a four-month high and stocks in Hong Kong, Seoul and Shanghai shook off early losses. chartKey developments that could influence markets on Tuesday:- U.S. manufacturing PMI (December)Reporting by Tom Westbrook; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Zion Williamson's career night propels Pelicans
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +7 min

Mandatory Credit: Stephen Lew-USA TODAY SportsDecember 29 - Zion Williamson scored his team's final 14 points as part of a career-high 43-point night as the host New Orleans Pelicans came from behind to defeat the Minnesota Timberwolves 119-118 on Wednesday night. Trey Murphy III added 21 points, CJ McCollum scored 20, Jonas Valanciunas had 12 points and 11 rebounds, and Naji Marshall scored 12 points as New Orleans won its fourth straight. Nikola Jokic had 40 points, Bones Hyland scored 20, Michael Porter Jr. 19 and Zeke Nnaji 14 for the Nuggets. Saddiq Bey poured in 28 points and added eight rebounds and four assists, while Bojan Bogdanovic had 14 points with five assists. LeBron James matched Butler for a game-high of 27 points, and also added nine rebounds with six assists, but committed six turnovers.

☆ How 7 content creators built brands beyond fan merchandise and launched successful businesses
▼ + stars: | 2022-12-26 | by ( Alexandra York | ) www.businessinsider.com time to read: +2 min

Many content creators have used their success to launch brands, turning followers into customers. "I was interacting with millions of different people as a content creator," Yoo, who lived in South Korea at the time, said. Yoo is one of many creators who have used their achievements to launch brands in recent years, turning loyal followers into loyal customers. Creating "pushed me naturally into the direction" of launching a brand, Yoo said. To understand how to successfully make the leap, Insider spoke with Yoo and six additional creators who've built brands beyond fan merchandise.

[1/2] Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, NY, U.S., April 30, 2018. The MSCI All-World index (.MIWD00000PUS) rose about 1.1% on the day, although it is on track for a more than 3% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

The MSCI All-World index (.MIWD00000PUS) rose 0.67% on the day, although it is on track for a nearly 4% decline in December. This year, the index is set to have fallen for eight out of 12 months, on a par only with 2008 for the number of monthly losses in a calendar year on record. They were boosted by stronger than expected earnings at sportswear giant Nike NKE.N and delivery behemoth FedEx Corp FDX.N. In Europe, shares more than recovered the previous day's 0.4% drop, helped in part by a rally in sportswear stocks. Citi analysts said the calm in equity markets might not last, and thin, year-end trading could lead to volatility.

☆ Global shares rise, but face patchiest yearly performance since 2008
▼ + stars: | 2022-12-21 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

The MSCI All-World index (.MIWD00000PUS) rose 0.1% on the day, although it is on track for a 4.4% decline in December. U.S. index futures , rose between 0.3%-0.5%, suggesting some of this strength may carry through to the Wall Street open later. On Tuesday, the Bank of Japan (BOJ) widened its trading band for 10-year government bond yields from 25 basis points (bps) either side of zero to 50 bps. CARRY TRADESBond markets were kept under pressure as the last big central bank anchoring its bond market starts to loosen its iron grip on yields. Citi analysts said the calm in equity markets might not last, and things could get volatile in thinned year-end trading.

Search resuls for: "Westbrook"

25 mentions found