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☆ 10-year Treasury yield retreats after rising to 5% in previous session
▼ + stars: | 2023-10-20 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

During the previous session, 10-year Treasury yields topped 5% for the first time since July 20, 2007, after four consecutive days of climbs. The yield on the 10-year Treasury fell to 4.9499% by 2 a.m. ET, down around 4 basis points. The 2-year Treasury yield was trading around 5.1418%, down around 3 basis points. No major data points or Treasury auctions are scheduled.

Persons: Jerome Powell, Powell, Lorie Logan, Patrick Harker, Loretta Mester Organizations: Federal, Economic, of New Locations: of New York

☆ Goldman Sachs names 6 global stocks to play the energy transition — giving one over 90% upside
▼ + stars: | 2023-10-02 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Goldman Sachs is bullish on the bioenergy sector, calling it the "largest source of renewable energy in the world." Specifically, the bank's analysts, led by Michele Della Vigna, foresee growth in the areas of renewable diesel, sustainable aviation fuel, and renewable natural gas. Stock picks Several global stocks are slated to benefit from this push toward sustainability and the transition to renewable energy, Goldman said. Among its top picks is Neste , which it describes as the "biggest renewable diesel and sustainable aviation fuel producer in the world." The company turns edible by-products and food waste into sustainable products and is the largest renewable diesel producer in North America.

Persons: Goldman Sachs, bioenergy, Michele Della Vigna, Goldman, —, — CNBC's Katrina Bishop Organizations: Renewable, Stock, ENI, U.S Locations: U.S, Italy, North America

☆ Flights disrupted across UK as air traffic control reports a 'technical issue'
▼ + stars: | 2023-08-28 | by ( Katrina Bishop | ) www.cnbc.com time to read: 1 min

The U.K.'s air traffic control provider reported a technical issue Monday which saw flights across the country disrupted. "We are currently experiencing a technical issue and have applied traffic flow restrictions to maintain safety," NATS said in a statement. "Engineers are working to find and fix the fault." NATS clarified that "UK airspace is not closed" after reports on social media site X, formerly known as Twitter. Scottish airline Loganair earlier Monday said on X that there was a "network-wide failure of UK air traffic control computer systems this morning."

Persons: NATS Organizations: Engineers, Twitter, Scottish

Euro zone inflation fell in July, and new growth figures showed economic activity picking up in the second quarter of this year — but economists still fear a recession could be in the cards. Headline inflation in the euro area was 5.3% in July, according to preliminary data released Monday, lower than the 5.5% registered in June. The euro area has been battling high inflation for the past year, leading the ECB to undergo a full year of consecutive rate hikes in an effort to bring prices down. Initially, much of the price pressures in the euro area were coming from high energy costs, but in recent months food prices have contributed the most. This month, food, alcohol and tobacco once again drove inflation — prices rose by 10.8% in July, in a hike that was nevertheless lower than in previous months.

Persons: Andrew Kenningham Organizations: Central, Capital Economics, ECB Locations: Europe

☆ 10-year Treasury yield ticks higher ahead of Fed meeting
▼ + stars: | 2023-05-01 | by ( Katrina Bishop | ) www.cnbc.com time to read: 1 min

The yield on the 10-year Treasury was trading around 3.467% at 4.40 a.m. The 2-year Treasury yield was flat at 4.066%. The Fed is expected to announce a 25-basis point interest rate hike Wednesday at the conclusion of its meeting. Investors are particularly interested in any guidance on how long rates will remain elevated and when rate cuts could get underway. On Monday, ISM manufacturing data, construction spending and S&P Global manufacturing PMI are due.

The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. "This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. The Swiss National Bank pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. UBS initially offered to buy Credit Suisse for around $1 billion Sunday, according to multiple media reports. It reported a full-year net loss of 7.3 billion Swiss francs for 2022 and expects a further "substantial" loss in 2023.

The FT said UBS had offered a price of 0.25 Swiss francs ($0.27) a share to be paid in UBS stock. Credit Suisse shares ended Friday at 1.86 Swiss francs. Credit Suisse and UBS declined to comment on the reports when contacted by CNBC. The Swiss bank's balance sheet is around twice the size of Lehman Brothers when it collapsed, at around 530 billion Swiss francs as of end-2022. It reported a full-year net loss of 7.3 billion Swiss francs for 2022 and expects a further "substantial" loss in 2023.

☆ BlackRock denies report that it's preparing a takeover bid for Credit Suisse
▼ + stars: | 2023-03-18 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

BlackRock headquarters in New York, US, on Friday, Jan. 13, 2023. via Getty ImagesBlackRock has denied a report that it is preparing a takeover bid for embattled Swiss lender Credit Suisse . "BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so," a company spokesperson told CNBC Saturday morning. Its future looks to be hanging in the balance after a multibillion-dollar lifeline offered by the Swiss central bank last week failed to calm investors. Credit Suisse was already in the midst of a massive strategic overhaul aimed at restoring stability and profitability. The default at hedge fund Archegos Capital not long after led to another $5.5 billion loss for the Swiss investment bank.

☆ European stocks look set to tick higher as markets wind down for the holidays
▼ + stars: | 2022-12-23 | by ( Katrina Bishop | ) www.cnbc.com time to read: 1 min

European markets look set to open higher Friday after ending in the red during the previous session. Trading is expected to be light on the last working day before the Christmas break. The U.K.'s London Stock Exchange is on a half day.

Goldman Sachs and Bank of America say copper could hit record highs in the coming year, as short-term supply tightness and long-term energy transition-related demand push the red metal north. Three-month copper futures on the London Metal Exchange were trading around $8,525 per metric ton on Friday in Europe. LME copper prices peaked at over $10,600/t in March this year, but two of Wall Street's biggest names see further price rises ahead. Both Goldman and Bank of America highlighted the energy transition as a key driver of copper markets looking ahead. While Bank of America's Michael Widmer said: "Copper is set to rally as usage in green technologies should offset cyclical demand weakness."

It's time to rethink bonds, according to the BlackRock Investment Institute, which said "the lure of fixed income is strong" right now. The research arm of BlackRock , one of the world's largest asset managers, urged investors to favor investment-grade bonds, short-term government debt and inflation-linked bonds amid recession fears and higher-for-longer inflation. "Higher yields are a gift to investors who have long been starved for income. "Investors also will increasingly ask for more compensation to hold long-term government bonds — or term premium — amid high debt levels, rising supply and rising inflation." The BlackRock Investment Institute has raised its overweight position on investment-grade credit, but remains underweight on long-term government bonds.

Given this outlook for battery metals, CNBC Pro screened the Global X Lithium & Battery Tech ETF for EV-related stocks that could offer opportunities to investors. The stock is rated buy by 51% of analysts covering it, who give it average potential upside of 51.4%. The majority of analysts covering the stock — 70% — rate it a "buy" and give the stock an average potential upside of 81.7%, according to FactSet data. Chinese battery manufacturer Contemporary Amperex Technology is another stock expected to grow earnings next year. The company is expected to increase EPS by 51.1% next year, with analysts covering the stock giving it average upside of 47.5%.

European markets were lower Monday, after a tough week which saw stocks fall across the board. On Monday, major European markets continued their foray into the red. Germany's DAX was 0.7% lower in late-morning trade, France's CAC 40 slipped 1.4% and Italy's FTSE MIB also fell around 1.2%. Spain's IBEX 35 was trading 0.7% lower. The U.K.'s FTSE 100 is closed Monday to mark the funeral of Queen Elizabeth II, due to begin 11 a.m. London time.

☆ Treasury yields tick higher as traders anticipate the Fed's next move
▼ + stars: | 2022-09-19 | by ( Katrina Bishop | ) www.cnbc.com time to read: 1 min

Treasury yields ticked higher early Monday as traders anticipate the U.S. Federal Reserve's next moves in the face of persistently high inflation. The yield on the 2-year Treasury bond rose 7 basis points to trade at 3.93% at 6:41 a.m. ET, trading around levels not seen since 2007. The yield on the 10-year Treasury, meanwhile, gained nearly 5 basis points to 3.494%. Yields move opposite to prices.

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