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☆ European assets rally after data shows U.S. inflation slowing
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

LONDON, April 12 (Reuters) - European stocks, currencies and bonds rallied on Wednesday after data showing headline U.S. inflation eased last month tempered expectations for further rate hikes from the Federal Reserve. Other European currencies such as Norway's crown and the Swiss franc strengthened, with the franc reaching its firmest since June 2021. Germany's 10 year bond yield, the benchmark for the euro zone , fell and was last down 1 basis point at 2.293%. Bond yields move inversely to prices. Reporting by European markets team, editing by Harry RobertsonOur Standards: The Thomson Reuters Trust Principles.

☆ Asia stocks fall, dollar stands firm after sticky U.S. CPI
▼ + stars: | 2023-02-15 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Fed funds futures now imply a peak above 5.2% by mid-year and rates above 5% at year's end. U.S. stocks finished flat on Tuesday but S&P 500 futures dropped 0.4% in Asia. By mid-morning Hong Kong time, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1.3%, led by drops bigger than 1% in Australia (.AXJO) and Hong Kong (.HSI), and analysts were bracing for further falls. The dollar touched a six-week high of 133.30 Japanese yen overnight and hovered at 132.80 yen on Wednesday. It had a bumpier ride against other currencies following the CPI data, but seems to be pausing following a January slide.

Against a backdrop of slowing economic activity and demand, these "base effects" strongly suggest broader inflation has peaked and could fall rapidly in the coming months. Gregory Daco, chief economist at EY-Parthenon, reckons that these disinflationary dynamics will intensify, so much so that headline U.S. consumer price inflation may fall below 2% by the end of this year. Brent oil is below $80 a barrel, and on Wednesday its year-on-year price differential turned negative for the first time in two years. This trend is likely to continue due to base effects - Brent hit a 14-year peak around $130/bbl last March and was above $100/bbl as recently as July. According to the Bureau of Labor Statistics, the non-seasonally adjusted average monthly rate of consumer price inflation in the first half of last year was 1%.

Reuters Graphics3/ RE-EMERGING MARKETSWhisper it, but the emerging markets (EM) bulls are back after 2022 delivered some of the biggest losses on record. Credit Suisse particularly likes hard currency debt and DoubleLine's Jeffrey Gundlach, AKA the "bond king", has EM stocks as his top pick. Economists polled by Reuters expect headline U.S. inflation to decelerate to 3.1% by the end of 2023. Valentine Ainouz, fixed income strategist at the Amundi Institute, predicts the 10-year U.S. Treasury yield will end 2023 at 3.5% from around 3.88% currently. Reuters Graphics5/ EQUITIES: SELL NOW, BUY LATEREquity investors hope a V-shaped year for the global economy will see stocks end it comfortably higher.

☆ INDIA RUPEE Rupee seen surging above 81/USD on rising bets of Fed pivot
▼ + stars: | 2022-11-11 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 11 (Reuters) - The Indian rupee is expected to jump against the dollar on Friday, after softer-than-expected U.S. inflation prompted bets that the Federal Reserve will pivot to a slower pace of rate hikes. The dollar index and Treasury yields plunged, while U.S. equities soared on signs that inflation was turning a corner. read moreThe relief on the inflation reinforced the likelihood that the Fed will opt for smaller rate hikes from its December meeting onwards. Fed Chair Jerome Powell had signalled after the November policy decision that a moderation in the size of hikes was possible. The dollar index dropped 2%, its biggest decline in many years.

☆ Morning Bid: Core beliefs
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. And that core inflation rate is forecast to have higher again in September to 6.5% from 6.3%. Ten-year Treasury yields have risen about 60bp to just under 4%, the S&P500 (.SPX) has lost more than 10% and the dollar (.DXY) has boomed almost 5%. Worryingly for Tokyo, the latest G7 finance ministers statement mentioned nothing about currency market ructions. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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