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☆ Asia markets fall as Japan's inflation data reaches highest since 1981
▼ + stars: | 2023-01-20 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

People walk down a street in the Chinatown section of Yokohama, Kanagawa prefecture, south of Tokyo, on January 7, 2023. Markets in the Asia-Pacific were set to trade lower on Friday as investors digested Japan's core inflation print, which reached the fastest pace since December, 1981. The Nikkei futures contract in Chicago was at 26,360 while its counterpart in Osaka was at 26,320 against the Nikkei 225's last close at 26,405.23. The yield on the 10-year Japanese Government Bond rose to stand at 0.415%, slightly below the central bank's upper ceiling of its tolerance range. In Australia the S&P/ASX 200 fell 0.11% in its first hour of trade.

☆ Bank of Japan defends yield curve control measures, intends to stick to ultra-easy monetary policy
▼ + stars: | 2023-01-20 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Bank of Japan Governor Haruhiko Kuroda on Friday defended the central bank's decision to widen the trading band in its yield curve control program and committed to continuing the BOJ's "extremely accommodative" expansionary monetary policy. His comments at Davos come shortly after the central bank defied market expectations by sticking to a core tenet of its ultra-loose monetary policy. The BOJ on Wednesday opted to keep its ultra-dovish -0.1% interest rate unchanged and maintained its yield curve tolerance band. It leaves the BOJ at odds with other major central banks, which have hiked interest rates in a bid to tackle rising inflationary pressure. Nonetheless, the world's third-largest economy reported core consumer prices rose to 4% on an annualized basis in the final month of last year, double the central bank's target of 2%.

☆ Federal government investigating possible human trafficking of children who cleaned slaughterhouses
▼ + stars: | 2023-01-19 | by ( Laura Strickler | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julia-Ainsley-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +12 min

There is no indication DHS is investigating the company that hired the children, Packers Sanitation Services Inc., or PSSI, for human trafficking. The Labor Department’s Child Labor Regulations designate many roles in slaughterhouse and meatpacking facilities as hazardous for minors. The Labor Department says its investigation, which began in August, is ongoing as it scours company records from 50 locations. I don’t anticipate unless there are severe ramifications for this that it will actually change policies.”The Labor Department has issued no penalties or fines to date. Labor DepartmentQuestions about child labor at PSSI in Grand Island and Worthington are not new.

New Zealand Prime Minister Jacinda Ardern will step down by next month because she no longer has "enough in the tank" to do the job justice, she said. ET Wednesday) she would not seek re-election and planned to resign no later than Feb. 7. If a new leader is selected, Ardern said she will resign soon after and a new prime minister will be sworn in. Prime Minister Jacinda Ardern speaks at Parliament in Wellington, New Zealand, on May 13, 2020. Her liberal Labour Party won reelection two years ago in a landslide of historic proportions, but recent polls have put her party behind its conservative rivals.

☆ GoFundMe says it removed George Santos' fundraiser for a veteran's sick dog and banned Santos' email from the platform after he ghosted them
▼ + stars: | 2023-01-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

GoFundMe says it took down a 2016 fundraiser for a dying dog that was linked to George Santos. GoFundMe told Insider it has a "zero tolerance policy" for the misuse of its services. As first reported by Patch, a military veteran is accusing Santos of taking $3,000 worth of GoFundMe funds meant for the man's sick dog. The platform told Insider that it has a "zero tolerance policy" for misuse of its services. Rich Osthoff, a veteran who lives in New Jersey, is accusing Santos of pilfering the GoFundMe funds.

☆ Emerging market stocks are off to a strong start in 2023 — How the outlook is shaping up
▼ + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Emerging market stocks are off to a strong start in 2023, even as concerns remain for investors. The iShares MSCI Emerging Markets ETF (EEM) tumbled more than 22% in 2022, and more than 5% the previous year. "One of the primary attractions for emerging markets has been compelling valuations," said LPL Financial's Quincy Krosby. Not all emerging markets are equal Even as emerging markets are broadly outperforming, some countries are expected to perform better than others. The iShares MSCI South Korea ETF (EWY) and the iShares MSCI Chile ETF (ECH) are up more than 10% and nearly 1%, respectively.

☆ New Zealand's Ardern leaves legacy of kindness, disappointments
▼ + stars: | 2023-01-19 | by ( Praveen Menon | ) www.reuters.com time to read: +5 min

"Be strong, be kind," New Zealand's youngest prime minister in more than a century repeated through her eventful tenure, but her empathetic leadership and crisis management skills often masked her government's shortcomings. Ardern made global headlines in 2020, presiding over New Zealand's most diverse parliament, with more than half the members women and the highest number of indigenous Maori lawmakers. Ardern said it was "totally unacceptable in 2017 to say that women should have to answer that question in the workplace". Less than three months later, Ardern brought the baby, Neve Te Aroha, to the U.N. General Assembly in New York. “I wonder whether or not anyone ever asked Barack Obama and John Key if they met because they were of similar age,” Ardern said, in reference to the former U.S. president and New Zealand prime minister.

☆ Rep. George Santos pushes back on 'insane' reports he took funds for veteran's dying dog
▼ + stars: | 2023-01-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

"The reports that I would let a dog die is shocking & insane," the freshman lawmaker from New York tweeted Thursday morning. Santos' office did not immediately provide any of those photos when asked by CNBC. Santos then became elusive, and finally told Osthoff he had moved the money into his charity to use "for other dogs," the veteran told Patch. If Santos were to leave office, it would likely trigger a competitive special election in New York for his seat. Rep. Byron Donalds, R-Fla., made a similar argument Thursday when asked by CNN whether he believed Santos should resign.

☆ Japanese yen weakens as Bank of Japan makes no changes to yield curve range
▼ + stars: | 2023-01-18 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Morning commuters in front of the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Monday, Jan. 16, 2023. The Bank of Japan made no changes to its yield curve control policy on Wednesday. The Japanese currency weakened against the U.S. dollar after the Bank of Japan surprised markets by keeping its yield curve tolerance band unchanged. The Japanese yen weakened 2.04% against the U.S. dollar shortly after the decision was announced and last stood at 130.35, hovering at its strongest levels since June, 2022. "Japan's economy is projected to continue growing at a pace above its potential growth rate," the Bank of Japan said in a statement.

☆ Premarket stocks: The world has a major debt problem. Is a reset coming?
▼ + stars: | 2023-01-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That number is about 349% of global gross domestic product, and the equivalent of $37,500 of debt for every single person in the world. “Rising interest rates and slowing economies are making the debt burden heavier,” they write. What it means: Higher interest rates are already hurting governments and corporations with low-credit ratings. Rising interest rates also impact stock prices — the Federal Reserve’s hikes in 2022 contributed to a nearly 20% decline in the S&P 500. What comes next: There is no easy way out of a global debt crisis, write Chan and Dimitrijevic.

☆ Japan's yield control faces biggest test to date as BOJ debates policy
▼ + stars: | 2023-01-17 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

But with inflation exceeding its 2% target, the BOJ is facing its biggest test so far for its stimulatory policy, which is called yield curve control (YCC). The cap for the 10-year bond therefore became 0.5%. Market expectations of an early rate hike have boosted yields broadly, with the eight-year moving higher than the 10-year yield. In considering the BOJ's options, some analysts bet it will further widen the band and allow the 10-year yield to rise as far as 0.75%. Others expect the central bank to raise the 10-year yield target above 0%, change it to one targeting a shorter-dated maturity, or abandon it altogether.

☆ The Davos party returns, with the shakes
▼ + stars: | 2023-01-16 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters Breakingviews) - There’s a hangover happening in Davos even though the party hasn’t yet started. The World Economic Forum’s annual winter shindig in the Swiss mountain resort, which kicks off on Monday, marks a return for glitzy parties and high-minded debates following a three-year hiatus. A record number of business leaders are set to make the trip, and the passage of commercial, private and government aircraft through Zurich’s airport suggests overall attendees are at pre-Covid-19 levels. The global pandemic and Russia’s invasion of Ukraine have added more friction to the already creaking globalised world that Davos epitomised. Follow @thereallsl on TwitterloadingCONTEXT NEWSThe World Economic Forum will take place in Davos, Switzerland from Jan. 16 through Jan. 20.

☆ 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."

☆ Bank of Japan could announce major policy shift this week as bond yields top limit again
▼ + stars: | 2023-01-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

This picture taken on October 27, 2022 shows pedestrians walking in front of the Bank of Japan (BoJ) headquarters in Tokyo. The move would come less than a month after the Bank of Japan caught markets off guard by widening its tolerance range for 10-year Japanese government bond yields. Indeed, Nikkei reported Monday that the Bank of Japan purchased JGBs worth more than 2 trillion yen ($15.6 billion) after the nation's 10-year bond yield curve topped 0.5% for two consecutive sessions. While the central bank leaving interest rates unchanged would be positive for Japanese stocks, BofA said a removal of its yield curve control policy could lead to sharp declines. HSBC, meanwhile, expects the central bank to announce further widening of the yield curve control tolerance band instead of abolishing the policy altogether.

☆ China Says 60,000 Have Died of Covid Since Controls Were Lifted
▼ + stars: | 2023-01-14 | by ( Keith Zhai | ) www.wsj.com time to read: 1 min

Chinese officials say that 90% of the Covid-19 deaths recorded by hospitals involved patients with underlying conditions. SINGAPORE—Hospitals in China recorded roughly 60,000 Covid-related deaths since the government scrapped most of its zero-tolerance pandemic controls in early December, Chinese health authorities said in the first major accounting of the toll exacted by the Omicron wave currently sweeping the country. China had been criticized by public health experts and epidemiologists, including some at the World Health Organization, for publishing data that routinely showed deaths in the single digits in recent week—figures they said grossly underestimated the impact the virus had on the Chinese population.

☆ Indian shares set to open higher; inflation slows
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 13 (Reuters) - Indian shares are set to open higher on Friday after data showed domestic and U.S. inflation eased last month, boosting expectations that central banks could slow the pace of interest rate hikes. In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8% at a seven-month high. STOCKS TO WATCH** Wipro Ltd (WIPR.NS): Co set to report quarterly results later in the day. ** Infosys (INFY.NS): Co raises annual revenue outlook after reporting better-than-expected quarterly profit in third quarter. ($1 = 81.1100 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru;Our Standards: The Thomson Reuters Trust Principles.

Republican state lawmakers and members of Congress are attempting to stifle the growth of sustainable investing and to punish corporate efforts at climate-related financial risk management. This is a closely coordinated political effort driven by a network of dark money organizations fronting for climate denial groups and fossil fuel interests. This is usually anonymous dark money, and it is often traceable back to the fossil fuel industry. They are attempting to bully financial institutions and regulators into ignoring market demand and market risk. Imagine elected officials telling investment firms they cannot offer large-cap or small-cap funds, or emerging market funds, or value funds — or, for that matter, sector funds with exposure to energy companies.

☆ China Inflation Picks Up as Covid-19 Restrictions Fall
▼ + stars: | 2023-01-12 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

SINGAPORE—Inflation in China picked up in December and is expected to accelerate further in the months ahead as the economy revs up following Beijing’s abrupt dismantling of its zero-tolerance measures to contain Covid-19. Consumer prices rose 1.8% in December compared with a year earlier, faster than the 1.6% annual rate recorded in November, China’s national statistics bureau said Thursday.

Twitter on Saturday blocked searches for a series of hashtags and keywords used to promote the sale of child sex abuse material (CSAM) following an investigation by NBC News posted the day before. NBC News observed the hashtags over a period of several weeks, and counted dozens of users who collectively published hundreds of tweets daily. Irwin said in the last six weeks Twitter had been analyzing thousands of hashtags for a project that was scheduled for completion in the next few weeks. In a review of hashtags and tweets last week, NBC News confirmed that searches related to the file-sharing site Mega had been blocked. A former employee who asked to remain anonymous because they had signed a nondisclosure agreement said that many of the employees specifically tasked with child safety issues had departed the company.

☆ Brazil's 2022 inflation slows sharply, misses government target
▼ + stars: | 2023-01-10 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

Central bank chief Roberto Campos Neto is legally required to publish a letter justifying the inflation target miss. It will be released on Tuesday, according to the central bank. That will give the central bank "more cause to delay the start of its easing cycle," Jackson said. According to IBGE, inflation last year was mainly impacted by the increased costs of food and beverages (+11.64%) and health and personal care items (+11.43%). State-run oil giant Petrobras (PETR4.SA) contributed to the disinflationary trend, adopting a series of price cuts when international oil prices settled.

☆ 2023 is 'a generational buying opportunity' for real estate investing, says the CEO of a private equity firm. He shares which sectors offer the best returns and the REITs to buy.
▼ + stars: | 2023-01-10 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

For real estate, he recommends investing in REITs that are managed by major financial firms. The real estate market last year took a massive hit as interest rates increased at an unprecedented velocity due to the Federal Reserve's aggressive tightening. Ari Rastegar, the founder and CEO of Rastegar Property Company, says just looking at macroeconomic trends won't give investors the full picture. Real estate investment trusts, which are entities that own and operate income-producing properties, are on clearance, he said. He recommends looking at the Blackstone Real Estate Income Trust (BREIT) and the Starwood Real Estate Income Trust (SREIT).

For most of the past two years, foreign officials and business executives grappled with paramount leader Xi Jinping ’s unflinching insistence on a zero-tolerance approach to Covid-19. Now they are struggling to make sense of Beijing’s decision to scrap those pandemic controls virtually without warning. The whiplash from China’s about-face on its zero-Covid strategy exemplifies the uncertainties that businesses, foreign governments and academics face in dealing with a black-box political system that has become increasingly impenetrable as Mr. Xi has accumulated more power.

[1/18] U.S. President Joe Biden speaks with border patrol officers as he walks along the border fence during his visit to the U.S.-Mexico border to assess border enforcement operations, in El Paso, Texas, U.S., January 8, 2023. Biden on Thursday said his administration would tighten immigration enforcement by blocking Cuban, Haitian and Nicaraguan migrants at the border, expanding the nationalities of those who can be expelled back to Mexico. But that has not impressed Republicans like Texas Governor Greg Abbott, who accused him of failing to enforce immigration laws. Biden told reporters he had not yet read the letter. On the ground in El Paso, migrants greeted the new policy with trepidation.

☆ Chip stocks tumbled in 2022. How to play the sector in the new year
▼ + stars: | 2023-01-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

Semiconductor stocks suffered a series of blows in 2022 as demand for consumer discretionary items fell off a cliff and supply chain disruptions continued. Betting on semiconductor favorites Despite ongoing volatility, some analysts and investors are still betting on once high-flying names in 2023, even though the challenges of 2022 continue. One of those is Advanced Micro Devices, a chip stock commonly connected with PC and server chips that fell hard in 2022. Texas Instruments held up better than the rest of the semiconductor market in 2022, shedding a little more than 12%. Bailey is mostly shying away from former, rapid growth names, with small bets on ASML and Marvell for clients looking for possible higher growth.

Share this -Link copiedMcCarthy elected speaker in 15th round McCarthy was elected House speaker Saturday shortly after midnight on the 15th ballot. Share this -Link copiedHouse reconvenes to hold 14th round of speaker votes The House has reconvened to begin the 14th round of speaker votes. Read the rest of the story, The House speaker election, in three charts. Share this -Link copiedHouse begins 13th round The House is beginning the 13th round of speaker votes. At least 14 House GOP flip to support McCarthy in twelfth speaker vote Jan. 6, 2023 01:52 Share this -Link copied

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