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☆ U.S. 10-year Treasury yields hits 5% for first time since 2007
▼ + stars: | 2023-10-19 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

LONDON (Reuters) - The U.S. 10-year Treasury yield briefly reached 5% for the first time since 2007, marking a fresh milestone in a relentless push higher for government borrowing costs. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermidFurther signs of resilience in the U.S. economy help explain the latest sell off in Treasuries, as traders have unwound bets the U.S. Federal Reserve would soon start to lower interest rates. He highlighted what everyone has seen with the strong economic growth data and the retail sales figure that came out. Just like how the market forced the Fed to stop quantitative tightening in 2019, it might be forcing the Fed to rethink QT today.

Persons: Brendan McDermid, Jerome Powell, MICHAEL SCHULMAN, EL, ”, NOAH, ” BRIAN JACOBSEN, MENOMONEE, QUINCY KROSBY, Powell Organizations: Treasury, New York Stock Exchange, REUTERS, U.S . Federal, Fed, NORTH Locations: New York City, U.S, Treasuries, EL SEGUNDO, CALIFORNIA, CHARLOTTE, NC, WISCONSIN, NORTH CAROLINA, Ukraine, Russia

☆ Premarket stocks: Bond investors are getting stung again this year. Here's why
▼ + stars: | 2023-10-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The surprisingly strong economy has led investors to worry that the Fed will keep rates higher for longer, which, in turn, drove US Treasury yields higher. As stocks have declined and bond yields have soared, bond prices have tanked, causing pain for investors who bet that the Fed would curtail its rate-hiking campaign earlier this year. Treasury yields rose to their highest level in over a decade earlier this week, before edging lower on a cooldown in employment data on Wednesday. Bond prices cratered in 2022 after the Fed began drastically raising near-zero rates to tame runaway inflation. US Treasury bond prices jumped earlier this year after the collapse of several regional lenders led traders to bet that the Fed would soon ease its aggressive pace of interest rate hikes.

Persons: ”, Noah Wise, Matt Miskin, FactSet, Miskin, Wise, doesn’t, you’re, ” Wise, Sam Bankman, Nathan Rehn, Allison Morrow, “, ” Rehn, Read, Samantha Murphy Kelly Organizations: CNN Business, Bell, CNN, Treasury, Dow Jones, Nasdaq, Allspring Global Investments, John Hancock Investment Management, Fed, US Treasury, Google Locations: Manhattan, Bahamas, New York City

☆ 'Incredibly compelling': The pros love small-cap stocks right now. Here are their top picks
▼ + stars: | 2023-09-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Matt Orton, chief market strategist at Raymond James Investment Management, was the latest to urge investors to "strategically add" to small-cap stocks right now. Tom Ognar, senior portfolio manager at Allspring Global Investments, said small- and mid-cap stocks look the "most incrementally interesting" among growth stocks. "We're very attuned to the valuation discounts currently being afforded to small- and mid-cap stocks after protracted periods of underperformance relative to large-cap stocks," he said. It screened for the best small-cap stocks to play an economic recovery. RBC Capital Markets also released, in a September note, an updated list of what it called "high conviction" U.S. small-cap growth recommendations.

Persons: Matt Orton, Russell, CNBC's, Orton, Tom Ognar, Ognar, CNBC'S, Valvoline, it's, — CNBC's Michael Bloom Organizations: Raymond James Investment Management, Allspring Global Investments, . Bank of America, Microsystems, Technologies, RBC Capital Markets, Automotive, RBC, Clearwater Analytics, Clearwater, Xenon Pharmaceuticals

☆ Analysis: US healthcare stocks roiled by investor tug of war over economy
▼ + stars: | 2023-09-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Many view healthcare as a defensive sector because it has constant demand and is somewhat insulated from the economy. In the latest week, investors pulled a net $1.4 billion from the sector, the biggest weekly outflow since May 2022. Overall, the healthcare sector - which ranges from health insurers like UnitedHealth to pharmaceutical companies like Pfizer to small biotechs - has received the third largest inflows of any sector year to date, BofA's data showed. This would weaken the case for loading up on healthcare stocks. Overall, healthcare sector earnings are expected to lag this year as COVID-related revenues decline 13% versus a 1.8% rise for the overall S&P 500.

Persons: Brendan McDermid, Bob Kalman, Emily Roland, Dan Lyons, Janus Henderson, you've, Lyons, Kalman, Joe Biden's, Margie Patel, Patel, David Randall, Ira Iosebashvili, Megan Davies, David Gregorio, Richard Chang Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, BofA Global Research, Pfizer, Miramar Capital, Healthcare, John Hancock Investment Management, Janus Henderson Investors, U.S, Bristol Myers Squibb, Allspring Global Investments, Thomson Locations: New York City, U.S

☆ Stock market doesn't think economy is nearing recession, says Allspring's Margaret Patel
▼ + stars: | 2023-08-29 | 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 EmailStock market doesn't think economy is nearing recession, says Allspring's Margaret PatelMargaret Patel, senior portfolio manager for multi-asset solutions at Allspring Global Investments, joins 'The Exchange' to discuss parts of the economy benefiting from higher savings rates, competition in the U.S. industrial sector leading to increased capital expenditures, and value in tools and diagnostics from the healthcare space.

Persons: Allspring's Margaret Patel Margaret Patel Organizations: Email, Allspring Global Investments Locations: U.S

☆ 'China has disappointed': These are the top markets and stocks to invest in, according to the pros
▼ + stars: | 2023-08-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

In contrast, nearly $1 billion went into emerging market ex-China mutual funds, according to Refinitiv data that Reuters cited. Here are some alternatives to China and the stocks to invest in, according to the pros. Japan Japan stocks have been an investor favorite this year, seeing the highest inflows in 20 years, according to Eastspring Investments. Demand for Japan funds has surged among European investors, according to data from research firm Cerulli. The bank screened for Japan stocks with the following attributes: resilient earnings, price-to-book (P/B) ratio below 1.5, and potential P/B upside relative to return on equity.

Persons: Morningstar, “, ”, Derrick Irwin, there's, Oliver Lee, BofA, Joanne Peng, Allspring's Irwin, Irwin, Fomento, He's, Morgan Stanley, Will, ” Irwin, Cerulli’s Peng Organizations: Morningstar, CNBC Pro, Reuters, Allspring Global Investments, CNBC, “, Eastspring Investments, Ivailo, Mitsui & Co, Honda Motor, Nomura, Kansai Electric Power, Mitsubishi Motors, Panasonic, Mexicano, HDFC Bank, HDFC Locations: European, China, India, Beijing, Japan Japan, Japan, Europe, Vietnam, Asia, Indonesia, Malaysia, Southeast Asia, Mexico, America, Will China

☆ China is facing a 'crisis of confidence' from investors and the public
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is facing a 'crisis of confidence' from investors and the public: Allspring Global InvestmentsDerrick Irwin of Allspring Global Investments explains how investors should approach the Chinese market.

Persons: Derrick Irwin Organizations: China, Allspring, Investments

☆ Analysis: While AI takes the spotlight, infrastructure stocks shine
▼ + stars: | 2023-08-04 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Nvidia (NVDA.O) shares have surged almost 205% year to date, while Meta Platforms (META.O) has surged about 160% as investors anticipate the potential AI may unlock. That spending has led investors to search for stocks that will reap the benefits of the boost in spending in construction and engineering. "You have to look harder at these companies about what their end market really is, even though they're in a sector." Reporting by Chuck Mikolajczak; additional reporting by Lance Tupper, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kim Forrest, Morgan Stanley, hasn’t, Bryant VanCronkhite, VanCronkhite, Owens Corning, Forrest, Chuck Mikolajczak, Lance Tupper, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, Meta, Bokeh Capital Partners, Infrastructure Investment, Jobs, Allspring Global Investments, Reuters, Vulcan, Thomson Locations: New York City, U.S, Pittsburgh, Menomonee Falls , Wisconsin

☆ Fitch's downgrade of US credit rating won't drive market behavior
▼ + stars: | 2023-08-02 | 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 EmailFitch's downgrade of US credit rating adds excitement, but won't drive long-term market behaviorBryant VanCronkhite of Allspring Global Investments discusses the market implications of the U.S. credit rating downgrade by Fitch.

Persons: Bryant Organizations: Allspring Global Investments, Fitch

☆ Sensing end of Fed hikes, some investors return to dividend stocks
▼ + stars: | 2023-07-25 | by ( David Randall | ) www.reuters.com time to read: +4 min

That has helped pressure many of the market’s popular dividend-paying stocks, which investors had turned to when rates were far lower. "The dividend-paying value side of the market is a pretty compelling place to go to maintain that return." Nevertheless, investors are seeking out dividend-paying stocks as a source of total return this year in anticipation that bond yields may falter while stocks continue to gain, Silverblatt said. “If you are going into dividend paying stocks now, you are taking that risk because you think there's a high probability that the market goes up," he said. Corso is searching for dividend-paying companies in cyclical sectors such as financials, where valuations are less expensive.

Persons: Jurrien Timmer, Howard Silverblatt, Dow, Silverblatt, hadn't, Cliff Corso, Corso, Bryant VanCronkhite, David Randall, Ira Iosebashvili Organizations: YORK, Federal Reserve, Fidelity Investments, BoFA Global Research, Dow Jones Indices, Companies, Asset Management, Fed, Allspring Global Investments, Thomson

The euro slipped 0.25% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down 0.65% in a clear underperformance. Meanwhile, U.S. stock futures , rose 0.2% and 0.3%, respectively, pointing to a positive open for Wall Street. With the Federal Reserve, European Central Bank and Bank of Japan meeting this week, a note of caution underpinned the mood across global markets. The benchmarks continued their fourth straight of week of gains last week, as supply is expected to tighten following OPEC+ cuts. HOST OF EARNINGSOn top of central bank meetings and economic data, investors also braced for a slew of earnings from both sides of the Atlantic.

Persons: Kai Pfaffenbach, Bruno Schneller, Schneller, Eddie Cheng, Allspring's Cheng, SPAIN UNDERPERFORMS, Fiona Cincotta, Nell Mackenzie, Dhara, Wayne Cole, Amanda Cooper, Peter Graff Organizations: REUTERS, Nasdaq, Fed, ECB London, Wall, Federal Reserve, European Central Bank and Bank of Japan, ECB, INVICO Asset Management, Bank of Japan, Japan's Nikkei, Allspring Global Investments, Brent, . West Texas, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, GM, U.S, Thomson Locations: Frankfurt, Germany, Spain, U.S, Spain's, Asia, Pacific, Japan, Ukraine, Russia, China, SPAIN, SPAIN UNDERPERFORMS Spain, Sunday's, Basque, Catalan, Coca, London, SYDNEY

[1/3] A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly/File PhotoSummaryCompanies U.S., European shares tick up as traders eye CPI, earningsChina inflation surprisingly weak in JuneDollar, oil prices declineJuly 10 (Reuters) - Wall Street stocks rose slightly on Monday, while oil prices and the dollar dipped, as investors digested Chinese economic data and looked ahead to a key U.S. inflation report and corporate earnings. "Stubbornly high U.S. CPI inflation data this week could bolster the recent bond yield surge as markets expect the Fed to hike rates." Currently futures imply around a 90% probability of a rise to 5.25%-5.5% this month, up 25 basis points. The yield on 10-year U.S. notes fell 4 basis points on Monday to 4.008%.

Persons: Andrew Kelly, Matthias Scheiber, Wells, Michael Barr, Brent, Lawrence Delevingne, Nell Mackenzie, Mark Heinrich, David Evans, Will Dunham, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, Dow Jones, Nasdaq, Allspring Global Investments, Citigroup, JPMorgan, Citi, PepsiCo, BlackRock Investment, U.S, Federal Reserve, Federal, Thomson Locations: New York City , New York, U.S, China, reflating, London, Europe, Wells Fargo, BlackRock, Saudi Arabia, Russia, Boston

☆ Wall St Week Ahead As earnings loom, investors weigh recession resilience
▼ + stars: | 2023-07-07 | by ( David Randall | ) www.reuters.com time to read: +5 min

The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S. recession will ever materialize. Quincy Krosby, chief global strategist for LPL Financial noted a "tug of war" in the market over the likelihood of a recession. The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500. Yet a continued rally in megacaps will likely stretch their valuations further, prompting some investors to rotate toward healthcare and financials, LPL Financial's Krosby said.

Persons: Goldman Sachs, Quincy Krosby, Sameer Samana, Max Wasserman, Financials, Tom Ognar, Morgan Stanley, John Quealy, Financial's Krosby, David Randall, Megan Davies, Michelle Price, Richard Chang Organizations: YORK, Global, BofA, Commerce Department, LPL Financial, Reserve, Wells, Wells Fargo Investment Institute, FINANCIALS, Miramar Capital, Abbott Laboratories, Allspring Global Investments, LPL Financial Holdings Inc, Trillium Asset Management, Russell, Thomson Locations: U.S, BlackRock, Wells Fargo, megacaps

The yield curve's inversions deepened in June after Fed Chair Jerome Powell indicated that the central bank would likely raise rates two more times this year. Stronger-than-expected economic data on Thursday backed expectations that the Fed will keep interest rates higher for longer. Treasury yields- which move inversely to prices - moved up, with 10-year and two-year yields hitting their highest since March 10 and 9, respectively, while some curve inversions intensified. The spread between one- and 30-year Treasury yields was as wide as 153 basis points on Wednesday, its biggest gap since 1981. Key areas of the U.S. economy, including housing and labor, have proven resilient despite higher rates.

Persons: Jerome Powell, Powell, Janet Rilling, Huw Roberts, Davide Barbuscia, Chuck Mikolajczak, Ira Iosebashvili, Sam Holmes, Aurora Ellis, Nick Zieminski Organizations: YORK, U.S, Treasury, Federal, Allspring Global Investments, Quant, Thomson Locations: U.S

☆ History shows us this market is 'a real bull', says LPL's Jeff Buchbinder
▼ + stars: | 2023-06-29 | 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 EmailHistory shows us this market is 'a real bull', says LPL's Jeff BuchbinderAnn Miletti, Allspring Global Investments head of active equity and Jeff Buchbinder, LPL Financial chief equity strategist, join 'Closing Bell Overtime' to discuss the day's market action, where the stock market is headed in the second half of the year, a surprise GDP revision, and more.

Persons: Jeff Buchbinder Ann Miletti, Jeff Buchbinder Organizations: Allspring Global Investments, LPL Financial

An inverted yield curve occurs when yields on shorter-dated Treasuries rise above those for longer-term ones, reflecting bets that the central bank will need to cut rates to buoy an economy hurt by higher borrowing costs. The yield curve's inversions deepened in June, after Fed Chair Jerome Powell indicated that the central bank would likely raise rates two more times this year. "Keeping rates higher for longer increases the chance that we move into a downturn," said Janet Rilling, a senior portfolio manager and the head of the Plus Fixed Income team at Allspring Global Investments. The curve between five- and 30-year Treasuries , meanwhile, touched a low of -20.7 on Wednesday - the most inverted since March. Key areas of the U.S. economy, including housing and labor, have proven resilient despite higher rates.

Persons: Jerome Powell, Powell, Janet Rilling, Davide Barbuscia, Ira Iosebashvili, Sam Holmes Organizations: YORK, U.S, Treasury, Federal, Allspring Global Investments, Thomson Locations: U.S

☆ Meta Platforms' return to growth index highlights annual Russell refresh
▼ + stars: | 2023-06-21 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +6 min

REUTERS/Peter DaSilvaNEW YORK, June 21 (Reuters) - Meta Platforms (META.O) will return to its former status as a full growth stock after financial data provider FTSE Russell finishes its annual shakeup of its stock index components on Friday. Every year, FTSE Russell reconstitutes, or refreshes, the components across its indexes, such as the Russell 2000 (.RUT) index of small cap stocks and Russell 1000 (.RUI) index of large-cap names. There are also style indexes such as the Russell 1000 Growth (.RLG) and Russell 2000 Value (.RUJ). FTSE Russell says about $12.1 trillion is currently benchmarked to the Russell US equity indexes. "The growth indexes look more like growth benchmarks and the value indexes look more like cyclical value indices," said Steven DeSanctis, equity analyst at Jefferies in New York.

Persons: Peter DaSilva, Russell, FTSE Russell reconstitutes, RUI, Goldman Sachs, Stocks, Goldman, Bryant VanCronkhite, VanCronkhite, Catherine Yoshimoto, Steven DeSanctis, You've, Thomas Martin, Chuck Mikolajczak, Alden Bentley, Matthew Lewis Organizations: Facebook, Meta, REUTERS, Russell, FTSE, FTSE Russell, London Stock Exchange, Allspring Global Investments, Walmart, Jefferies, Nasdaq, New York Stock Exchange, Globalt Investments, Thomson Locations: Mountain View , California, U.S, Menomonee Falls , Wisconsin, New York, Atlanta

☆ Economy remains very strong despite Fed's rate hikes, says Allspring Global's Margie Patel
▼ + stars: | 2023-06-05 | 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 EmailEconomy remains very strong despite Fed's rate hikes, says Allspring Global's Margie PatelJulia Coronado, founder of Macro Policy Perspectives, and Margie Patel, senior portfolio manager for multi-asset solutions with Allspring Global Investments, join 'The Exchange' to discuss the potential for a Fed rate pause, the Fed's mission to find an adequate hold rate, and investment strategies for the fixed-income market.

Persons: Allspring, Margie Patel Julia Coronado, Margie Patel Organizations: Macro, Allspring Global Investments

The Commerce Department reported retail sales rose 0.4% in April, at half the pace against an expected increase of 0.8%. "The retail sales data has been positive in several months, but it's still weak," said Jamie Cox, managing partner at Harris Financial Group. You are probably seeing the end of the decline in retail sales, but it's not going to be a smooth ride from here." Dow Jones Industrial Average (.DJI) component Home Depot (HD.N) shed 1.4%, hitting its lowest level in over six months after the company lowered its annual sales forecast. Shares of Capital One Financial Corp (COF.N) jumped 2.4%, rising the most on the S&P 500, after Berkshire Hathaway Inc (BRKa.N) on Monday disclosed it has begun investing in the consumer lender.

☆ US March CPI comes in on the cool side
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +5 min

Year to date, the CPI increased 5.0%, the smallest 12-month gain since May 2021. "The data was a little bit better than what was expected, so that tells me that the bond market is saying that the probability of this next rate hike has decreased just a little bit." "The other number that's important is the PPI number that comes out this week. That will probably change a little bit today as people digest this data, maybe even within the next half an hour or so." It weakens the argument for a pause.”“Futures are going up based on the topline number, that’s what markets are focusing on.”“Inflation is cooling down.

☆ VIEW US payrolls rise moderates in March, participation rate firms
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said on Friday. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. That also should ease pressure in the job market and help overall growth in the months and quarters ahead." “The overall headline view is that everything is remarkably in line with expectations. "The Fed will look positively on a further rise in participation to a new cycle high 62.6%, while a renewed drop in unemployment to 3.5%, coupled with continued healthy headline jobs growth, should cement the case for another 25 bps rate hike at the May meeting."

☆ U.S. yields climb, S&P futures close higher after jobs report
▼ + stars: | 2023-04-07 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

REUTERS/Issei KatoSummarySummary Companies March U.S. payrolls rise by 236,000 vs 239,000 estimateDollar strengthens, U.S. yields climbNikkei, S&P futures close higherNEW YORK, April 7 (Reuters) - U.S. Treasury yields climbed and U.S. index futures closed modestly higher after employment data for March indicated the labor market remains tight, but was largely in line with market expectations. Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said, compared with the 239,000 expectation of economists surveyed by Reuters. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. U.S. stock index futures erased losses and turned higher after the report, while the dollar strengthened and U.S. Treasury yields rose as expectations the Federal Reserve will hike rates at its May meeting increased. The dollar index rose 0.167%, with the euro down 0.13% to $1.0906.

☆ Fed is focused 'myopically' on inflation but should be cutting interest rates: Portfolio manager
▼ + stars: | 2023-04-05 | 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 EmailFed is focused 'myopically' on inflation but should be cutting interest rates: Portfolio managerMargaret Patel of Allspring Global Investments says "interest rates [are] a pretty crude tool to operate with that."

The flow may be signalling a shift in sentiment among foreign investors who have been notably absent while China's markets and economy roared back to life after Beijing abruptly lifted its stringent zero-COVID policy in December. Alibaba's shares (9988.HK) are up more than 14% in the five days since the company's announcement and some 11.7 billion yuan ($1.7 billion) in foreign cash has flowed into China's markets. That's already more than the net 9.2 billion yuan in inflows in February and drove March flows to 35.4 billion yuan and the quarter's inflow to a record of 186 billion yuan. Premier Li Qiang assured foreign investors that China would unswervingly adhere to reform and opening up, expanding market access and optimising the business environment. Ernest Yeung, a portfolio manager at U.S. asset manager T. Rowe Price, anticipated "a gradual process of stabilisation" of private enterprises and the internet sector.

☆ Analysis: Investors seek value in clobbered U.S. regional bank shares
▼ + stars: | 2023-03-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ETF has slumped nearly 26% since March 8, when SVB's troubles became known, while the S&P Regional Banks Select Industry Index (.SPSIRBK) is down around 23%. Concerns over deposit flight are still swirling around some regional banks. He owns shares of large regional banks including Citizens Financial Group Inc (CFG.N), which have fallen about 22% so far this year, and US Bancorp (USB.N), which are down some 18%. Margie Patel, a senior portfolio manager at Allspring Global Investments, has been adding new positions in regional banks over the last few weeks, citing "value." Regional banks "need positive news that shows their deposits are holding firm or growing," said Rick Meckler, a partner at family office Cherry Lane Investments.

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