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A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. The official FX rate will be fixed at 350 pesos per dollar until the October elections, the central bank said. The country's sovereign dollar bonds fell as much as 2 cents on the dollar, with the 2038 note leading the slide, according to MarketAxess data. Latin America's third-largest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, William Jackson, overvalued, Sunday's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Rodrigo Campos, Jorge Otaola, Medha Singh, Adam Jourdan, Bernadette Baum, John Stonestreet, Andrew Cawthorne Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Capital Economics, Investment, JPMorgan, Gross, Milei, Peronist, Economy, Analytica, Reuters Graphics Reuters, International Monetary Fund, IMF, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, MERV, Argentine, refinance, Washington, Rosario

☆ S&P 500 futures are little changed on Monday evening: Live updates
▼ + stars: | 2023-08-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Futures tied to the S&P 500 were little changed in overnight trading Monday. Futures linked to the broad market index added 0.1%, while Nasdaq-100 futures rose about 0.2%. A rebound in semiconductor and technology names lifted the S&P 500 and Nasdaq Composite 0.58% and 1.05%, respectively, during the regular trading session. Six of the 11 major S&P sectors finished positive, led to the upside by information technology. Later in the week, traders will parse releases from Target and Walmart .

Persons: Homebuilders D.R, Horton, Lennar, Warren Buffett's Berkshire Hathaway, NVR, Stocks, selloff, Morgan Stanley, Alicia Levine Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Discover Financial, Dow, Nvidia, VanEck Semiconductor, BNY Mellon, Home Depot, Target, Walmart

☆ Argentina markets face election hangover after far-right primary bombshell
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +2 min

Argentina's markets face an election hangover on Monday after a shock primary election win for far-right libertarian Javier Milei, who wants to axe the central bank and dollarize the economy, shook up the race towards general elections in October. The primary to elect party candidates acts as a dress rehearsal for the general election in two months time. Markets had hoped for a strong performance by more moderate candidates, who had a bad night. After a similar primary election shock result in 2019, bonds and the currency crashed and remain in distressed territory, with the peso now held in check by capital controls the government has been unable to unwind. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Javier Milei, Milei, Dante Sica, Milei's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado Organizations: Markets, Peronist Locations: Argentine

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin MarcarianBUENOS AIRES/LONDON, Aug 14 (Reuters) - Argentina's markets face an election hangover on Monday after a shock primary vote win for far-right libertarian Javier Milei - who wants to axe the central bank and dollarize the economy - shook up the race towards presidential elections in October. Rock-singing, wild-haired economist and lawmaker Milei far outperformed forecasts to win some 30% of the vote, the largest share with over 90% of ballots counted. Latin America's third-biggest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, Milei, Diego Pereira, Milei's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Jorge Otaola, Adam Jourdan, Stephen Coates, Bernadette Baum Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Investment, JPMorgan, Reuters Graphics Reuters, Gross, Peronist, Economy, Analytica, International Monetary Fund, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, U.S, Argentine, refinance, Washington, Rosario

☆ A Democratic lawmaker with over $200,000 in student debt says millions of borrowers will soon have to 'postpone their lives' with payments about to resume
▼ + stars: | 2023-08-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Democratic Rep. Summer Lee has over $200,000 in student debt from college and law school. She said that millions of borrowers will soon have to adjust their lives to afford another monthly bill. "I either took this loan debt or I didn't get this education, I missed this educational opportunity," she continued. "The reality is that we're on-ramping millions of borrowers right back into a debt servitude," she said. At the end of June, the Supreme Court struck down President Joe Biden's broad plan to cancel up to $20,000 in student debt for federal borrowers.

Persons: Summer Lee, Lee, Donald Trump, —, Joe Biden's, Biden, it's Organizations: Democratic, Service, Democratic Rep, Pennsylvania State University, Howard University School of Law, Education Department, Higher, Education, Republican Locations: Wall, Silicon, Pennsylvania

☆ Big tech losses sink Nasdaq, S&P as US Treasury yields rise
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +5 min

It was the first time in 2023 that the Nasdaq fell for two straight weeks. The S&P 500 ended the week down 0.3%, with the Nasdaq 1.9% lower. Yield on the two-year U.S. Treasury note , that moves in line with near-term interest rate expectations, climbed to 4.88%. REUTERS/Brendan McDermid//File PhotoMegacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 52 new highs and 169 new lows.

Persons: Refinitiv, We've, Jason Betz, Brendan McDermid, Ameriprise's Betz, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: Treasury, Nasdaq, Dow Jones, Federal Reserve, Ameriprise, Inc, Microsoft, Nvidia, Traders, New York Stock Exchange, REUTERS, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: U.S, New York City, JD.com, Bengaluru, New York

☆ Nasdaq, S&P end lower as rising US Treasury yields sink big tech
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. It was the first time this year that the Nasdaq notched two weekly losses in a row. Megacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). According to preliminary data, the S&P 500 (.SPX) lost 4.52 points, or 0.10%, to end at 4,464.31 points, while the Nasdaq Composite (.IXIC) lost 73.83 points, or 0.54%, to 13,647.20. The energy sector's increase was aided by crude prices rising on forecasts for tightening supplies from the International Energy Agency.

Persons: Brendan McDermid, Refinitiv, We've, Jason Betz, Ameriprise's Betz, Rupert Murdoch, JD.com, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Treasury, Nasdaq, Federal Reserve, Ameriprise, Microsoft, Nvidia, Dow Jones, University of Michigan, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: New York City, U.S, Bengaluru, New York

☆ India's Patanjali Foods Q1 profit slumps over 60% as high expenses dent margins
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Aug 11 (Reuters) - India's Patanjali Foods (PAFO.NS) on Friday reported a 63.6% drop in first-quarter profit as high costs dented margins. Total revenue from operations increased 7.7% to 77.67 billion rupees, while total expenses rose 9.3% due to higher purchases of stock-in-trade and employee costs. Government intervention for lowering prices in spite of holding high-priced inventory impacted profitability negatively during the quarter, the company added. The stock rose nearly 23% in the April-June quarter. Other consumer goods companies have reported mixed results for the first quarter, with KRBL (KRBL.NS) posting an 18.90% rise in its profit, while Venky's (India) (VENK.NS) profit plunged more than 60%.

Persons: Navamya Ganesh, Vinay Dwivedi Organizations: Patanjali, Revenue, Thomson Locations: BENGALURU, India, Venky's, Bengaluru

Edward Marrinan, macro credit strategy desk analyst at SMBC Nikko Securities America, added: "Credit risk at this point is mispriced." The move prompted a sell-off in equities and slight widening in corporate credit spreads. The average investment-grade bond spreads as of on Thursday were just a few basis points wider than the tightest levels touched this year in July and 16 basis points tighter from January. Junk-bond spreads are 98 basis points inside January levels. "With market consensus now expecting a soft landing, the credit markets are arguably underpricing default risk," BMO’s Krieter said.

Persons: Brendan McDermid, Cindy Beaulieu, Edward Marrinan, Moody's, Daniel Krieter, Krieter, Marrinan, Manuel Hayes, Hayes, BMO’s Krieter, Shankar Ramakrishnan, Davide Barbuscia, Paritosh Bansal, Jonathan Oatis Organizations: NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, U.S . Federal Reserve, SMBC Nikko Securities America, Reuters Graphics Reuters, Investors, Reuters, BMO Capital Markets, London, Insight Investment, Informa, Thomson Locations: New York City, U.S

☆ Four Major Challenges Facing Ron DeSantis’s Campaign
▼ + stars: | 2023-08-10 | by ( Trip Gabriel | More About Trip Gabriel | ) www.nytimes.com time to read: +1 min

Solving the Trump problem is the master key to this election, and no one has found it. Mr. DeSantis, like almost every other Republican in the race, adopted a strategy of never criticizing Mr. Trump, for fear of alienating his ardent base. The theory was that at some point Mr. Trump would disqualify himself, and Mr. DeSantis would be positioned to inherit his supporters. But now, after three criminal indictments have failed to dent Mr. Trump’s popularity with Republican voters, pressure is mounting on Mr. DeSantis to stop pretending Mr. Trump isn’t in the race and take him on directly. “Trump is the de facto Republican incumbent, and in order to beat an incumbent you have to give voters a fire-able offense,” said Terry Sullivan, who managed Senator Marco Rubio’s presidential campaign in 2016.

Persons: DeSantis, Trump, ’ ’, Barbara Comstock, “ Trump, ”, Terry Sullivan, Marco Rubio’s Organizations: Trump, Republican Locations: Virginia

☆ The Fed may be done hiking rates but there's another policy move that still poses a big risk to stocks
▼ + stars: | 2023-08-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Fed may be nearing the end of its rate hikes but its balance sheet reduction plans still pose a big risk to stocks. The Fed has reduced its balance sheet by $900 billion over the past year and is showing no signs of stopping. Continued draining of liquidity presents a risk for equities," Ned Davis Research said in a Thursday note. The Fed has been reducing its balance sheet by about $80 billion per month, and stocks tend to perform well when the exact opposite happens, according to NDR. And its balance sheet reduction policy can have a big impact not only on the stock market, but also the economy.

Persons: Ned Davis, Joseph Kalish, Kalish Organizations: Fed, Ned Davis Research, Service, NDR Locations: Wall, Silicon

☆ Too Short’s Long (and Very Raunchy) Life in Rap
▼ + stars: | 2023-08-09 | by ( Tom Breihan | ) www.nytimes.com time to read: +4 min

It’s a lesson rap has never forgotten — and only one among many it learned, in large part, from this rapper. To understand Too Short’s influence, it’s useful to consider that he found national success at a moment when rap still seemed like it might head in a very different direction. As his records crept across the country, another Oakland rapper took off like a rocket. MC Hammer was Too Short’s opposite: glitzy, energetic and so family-friendly that he had his own Saturday-morning cartoon. This failure didn’t bother Too Short: “I understand why they didn’t get it,” he says of New Yorkers.

Persons: ”, “, Snoop Dogg, P’s, Young Jeezy, Gucci Mane’s, Hammer, wouldn’t, tourmates, Dre, 2Pac, —, ” Weiss, Wu, Tang Organizations: Oakland, East Coast, Yorkers Locations: UGK, Oakland, York, Coast

☆ FTC Chair Lina Khan hasn't been able to make a dent in Big Tech companies, says Axios' Dan Primack
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTC Chair Lina Khan hasn't been able to make a dent in Big Tech companies, says Axios' Dan PrimackAxios business editor Dan Primack joins 'Squawk Box' to discuss Amazon's meeting with FTC Chair Lina Khan next week in a last-ditch attempt to avoid an antitrust lawsuit, whether the recent string of high-profile losses will shift Khan's tactics in her crusade against Big Tech, President Biden's expected executive order to ban some U.S. investments in China, and more.

Persons: Lina Khan hasn't, Axios, Dan Primack, Lina Khan, Biden's Organizations: Big Tech Locations: China

☆ These 5 bearish arguments have yet to derail the stock market rally
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

There are five major bearish arguments for an imminent recession and a falling stock market. Here's why each of the bearish arguments have yet to put a dent in the stock market rally. According to Wednesday note from market veteran Ed Yardeni, all of the bearish arguments supporting a stock market sell-off and eventual recession have fallen flat, and that means there could be more gains ahead. These are the five bearish arguments for the stock market, and why they haven't yet derailed the current rally, according to Yardeni. "This conclusion is confirmed by Fed data on the ownership of deposits plus money market funds by generation cohorts."

Persons: Ed Yardeni, Yardeni, LEI, That's Organizations: Service, Nasdaq, ATA, Fed Locations: Wall, Silicon, Yardeni

☆ Morning Bid: US stocks try to outrun the gloom
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +3 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. REUTERS/Brendan McDermidA look at the day ahead in U.S. and global markets by Harry RobertsonIt's been a tough little patch for U.S. stocks, with the benchmark S&P 500 index (.SPX) falling for five of the last six sessions. Things look a little brighter this morning, with U.S. stock futures up slightly and European equities (.STOXX) rising in the morning session. Italy's decision to water down the bank tax which shook markets on Tuesday has helped restore some confidence, particularly in Europe. As of Wednesday, however, the greenback was on track for its fourth straight weekly increase - hardly a bullish sign for global markets.

Persons: Brendan McDermid, Harry Robertson It's, It's, we've, Timothy Graf, Street's Graf, Harry Robertson, David Evans Organizations: New York Stock Exchange, REUTERS, U.S, Reuters, Walt Disney Company, Thomson Locations: New York, U.S, Europe

Aug 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Lingering concern over China's slide into deflation and caution ahead of U.S. inflation data will keep markets in check on Thursday, as investors also eye India's interest rate decision, wholesale inflation from Japan and Philippine GDP data. Although Chinese stocks fell for a third day on Wednesday the rest of Asia shrugged off the Chinese deflation figures, and the MSCI Asia ex-Japan index rose 0.5% for its best performance so far this month. Also on the inflation front, the annual rate of Japanese wholesale price inflation is expected to have fallen to 3.5% in July from 4.1% in June. Interest rate markets are pricing in a decent chance of a quarter-point hike, if not this week then certainly by the end of the year.

Persons: Jamie McGeever, Asia shrugged, Fitch Organizations: Reserve Bank of India, Thomson, Reuters Locations: Japan, Philippine, United States, China, Asia, India, Philippines

☆ US bank stocks drop as Moody's downgrade sours sentiment
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Shares of U.S. banks fell in premarket trading on Tuesday after ratings agency Moody's downgraded 10 mid-sized lenders, reigniting investor concerns about the challenges facing the industry. Moody's also warned it may cut ratings of some of the biggest U.S. lenders, and placed six of them under review for a potential downgrade. "It is significant for U.S. growth too, as U.S. regional banks are the financing lifeblood for small and mid-size enterprises." Shares of Bank of America (BAC.N), Citigroup (C.N) and JPMorgan Chase (JPM.N) fell more than 1%.

Persons: Mike Segar, Moody's, Stuart Cole, JPMorgan Chase, Georgios Leontaris, Niket Nishant, Mayur, Shashwat Chauhan, Shounak Dasgupta, Saumyadeb Organizations: Wall, New York Stock Exchange, REUTERS, Bank of New York Mellon, U.S . Bancorp, Truist, Equiti, Bank of America, Citigroup, JPMorgan, Bank, EMEA, HSBC Global Private Banking, Wealth, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon, Switzerland, Bengaluru

☆ Opinion: All the speculation about a grand Trump deal is far-fetched
▼ + stars: | 2023-08-08 | by ( Opinion Jill Filipovic | ) edition.cnn.com time to read: +6 min

CNN —Will former President Donald Trump accept a plea deal, potentially sparing himself prison and sparing us all a repeat of his presidency? It’s a compelling argument, and one that would certainly be better for the nation than Trump winning in 2024 and pardoning himself; it would be better for Trump than winding up behind bars. Trump has been embroiled in thousands of lawsuits; he’s the first former president to face federal charges. Betting on a 2024 win is a big gamble for Trump, especially if the consequence of that loss isn’t just humiliation, but a jail cell. Join us on Twitter and FacebookThere is also the question of whether prosecutors would even offer a deal Trump might consider.

Persons: Jill Filipovic, CNN —, Donald Trump, Scott Galloway, Trump , Galloway, Trump, Galloway, pardoning, —, don’t, It’s, Joe Biden, — Trump, That’s Organizations: Twitter, CNN, New York University, Trump, Republican, White Locations: New York, Trump ,, Trump

He'll lose if he doesn't ... Extremism isn't going to get you elected," Bigelow said in an interview, adding that he had communicated these concerns to DeSantis' campaign. DeSantis' campaign finances have come under scrutiny in recent weeks after his campaign said it had let go 38 employees, or over one-third of staff. Bigelow said he agreed with most of DeSantis' policies, however, and that he was "spot on" in his war on "wokeism." Bigelow said he had told DeSantis' campaign manager Generra Peck that DeSantis needed to be more moderate to have a chance. DeSantis' campaign did not respond to queries about Peck and Bigelow.

Persons: Robert Bigelow, Steve Marcus, Ron DeSantis, Bigelow, Donald Trump's, He'll, isn't, DeSantis, I'm, Bryan Griffin, BIGELOW, Douglas Leone, Andy Sabin, Tim Scott, Trump, Generra Peck, Peck, Alexandra Ulmer, Jason Lange, Ross Colvin, Rosalba O'Brien Organizations: Bigelow Aerospace, REUTERS, Reuters, Florida, Las, Trump, PAC, Federal, Commission, DeSantis, Twitter, Thomson Locations: North Las Vegas , Nevada, U.S, Florida, Las Vegas

☆ Russia's war is coming home as drone strikes hit Moscow. What does it mean for the conflict?
▼ + stars: | 2023-08-05 | by ( Rob Picheta | ) edition.cnn.com time to read: +10 min

London CNN —Ukrainian drone strikes taking place inside Russia once seemed an unthinkable prospect. A string of drone strikes have peppered Russian cities including Moscow throughout the summer. A damaged building in Moscow following last weekend's drone strikes. But anecdotal accounts at least speak to the impact of drone strikes on those in the vicinity of the attacks. But after almost eighteen months of disorganization and discord, the reality that Russia’s military plans are flailing has been increasingly hard to deny.

Persons: Volodymyr Zelensky, “, ”, Evgenia Novozhenina, ” Douglas Barrie, Mykhailo Fedorov, ” Keir Giles, we’ve, ” Giles, Barrie, ” Barrie, Stringer, Yurii, “ There’s, Vladimir Putin’s, Yuri Kochetkov, Shutterstock, June’s Wagner, Russia –, Karine Jean, Pierre Organizations: London CNN, Kyiv, Kremlin, Reuters, Military Aerospace, International Institute for Strategic Studies, CNN, Transformation Ministry, “ Army, Drones, Chatham House, “, West, NATO, Getty, Russia Kyiv, Ukraine’s Air Force, Institute for Locations: Ukrainian, Russia, Moscow, Reuters Ukraine, Kyiv, Ukraine, AFP, Kremlin, Russian, United States

☆ Trump Leads G.O.P. in Iowa, but His Hold Is Less Dominant
▼ + stars: | 2023-08-04 | by ( Jonathan Weisman | More About Jonathan Weisman | ) www.nytimes.com time to read: 1 min

Former President Donald J. Trump’s pull among likely Republican voters is less dominant in Iowa than it is nationwide, though he still leads his nearest rival, Gov. Ron DeSantis of Florida, in the key early state by double digits, according to a new New York Times/Siena College poll. The survey of 432 likely Iowa caucusgoers was taken before a third indictment against Mr. Trump was made public on Tuesday, this one charging him with federal crimes connected to his efforts to cling to office after losing re-election in 2020. But any dent in his dominance in the Hawkeye state may have more to do with factors like personality flaws and voters’ fatigue after eight years of Trumpian drama than his latest legal travails. Iowa Republicans showed some real doubts about which candidate — Mr. Trump or Mr. DeSantis — is more moral, likable or able to beat President Biden in 2024.

Persons: Donald J, Ron DeSantis, Trump, Hawkeye, Mr, DeSantis, Biden Organizations: Republican, Gov, New York Times, Siena, Mr, Republicans Locations: Iowa, Florida

☆ DeSantis' biggest donor says he won't give more money unless changes are made
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +2 min

Hotel entrepreneur Robert Bigelow, the biggest individual donor to a group supporting Ron DeSantis' presidential bid, told Reuters on Friday he will not donate more money unless the Florida governor attracts new major donors and adopts a more moderate approach. He'll lose if he doesn't ... Extremism isn't going to get you elected," Bigelow said in an interview, adding that he had communicated these concerns to DeSantis' campaign. Bigelow, the founder of Las Vegas-based Bigelow Aerospace, said he wasn't waiting for an exact fundraising figure, but that "it's going to be a lot." DeSantis has been running to the right of Trump despite many Republican strategists saying he should instead be trying to court moderates concerned about Trump's policies and electability. A source familiar with the governor's strategy told Reuters that "donors don't set policy for the governor, and they never will."

Persons: Robert Bigelow, Ron DeSantis, Bigelow, Donald Trump's, He'll, isn't, DeSantis, I'm, Bryan Griffin Organizations: Reuters, Florida, Las, Bigelow Aerospace, Trump Locations: Florida, Las Vegas

REUTERS/Dado Ruvic/IllustrationBENGALURU, Aug 3 (Reuters) - The U.S. dollar will hold its ground against most major currencies over the coming three months as a resilient domestic economy bolsters expectations interest rates will remain higher for longer, according to FX strategists polled by Reuters. The dollar is unlikely to give up recent gains in coming months, according to the July 31-Aug. 2 Reuters poll of 70 FX strategists, which showed most major currencies would not reclaim their recent highs for at least six months. In response to an additional question, 27 of 40 FX strategists said net short USD positions would either not change much or decrease over the coming month, suggesting the dollar would be rangebound. Typically, these conditions often coincide with a more negative dollar outlook," said Kamakshya Trivedi, head of global FX at Goldman Sachs. At this point in time I wouldn't say so," said ECB President Christine Lagarde last week after delivering a widely anticipated 25 basis points (bps) rate increase.

Persons: Dado Ruvic, Kamakshya Trivedi, Goldman Sachs, Christine Lagarde, Kit Juckes, Sterling, Indradip Ghosh, Shaloo Shrivastava, Sujith Pai, Veronica Khongwir, Vijayalakshmi Srinivasan, Jonathan Cable, Ross Finley, Alex Richardson Organizations: REUTERS, U.S, Reuters, greenback, Federal Reserve, Central Bank, Fed, ECB, Societe Generale, Bank of England, bps, Bank of, Thomson Locations: U.S, Bank of Japan

☆ Fall in Bud Light Sales Puts Dent in Beer Maker’s Earnings
▼ + stars: | 2023-08-03 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Anheuser-Busch InBev, the global beer-making giant, on Thursday reported a sharp drop in sales and profit in the United States, as it counted the cost of a conservative-led boycott of Bud Light after the company’s collaboration with a transgender influencer. Bud Light has faced a backlash from conservative commentators and celebrities after Dylan Mulvaney, a transgender influencer, posted a promotion for the beer on social media in April. Bud Light was dethroned by Modelo Especial as the nation’s top-selling beer in retail sales in June. Constellation Brands, which sells Modelo in the United States, reported 7.5 percent growth in beer volumes in its most recent quarter, which ended on May 31, compared with the same period last year. Overall volume at Anheuser-Busch, which also sells Beck’s, Michelob, Stella Artois and many other brands, fell by more than 1 percent in the three months through June.

Persons: Bud Light, Busch, “, Dylan Mulvaney, Anheuser Busch, Stella Artois Organizations: Anheuser, Busch InBev, U.S, Modelo Especial, Constellation Brands, Modelo, Busch Locations: United States

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