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☆ Yields on inflation-protected bonds spiked after the Fed’s tough outlook. What’s next for investors
▼ + stars: | 2023-09-27 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The yield on the 5-year TIPS was 2.48% on Wednesday afternoon, while the rate on the 10-year TIPS was 2.29%. The par value of the bonds adjusts with inflation, based on the consumer price index for all urban consumers. Duration is a measure of a bond's price sensitivity to changes in interest rates, and as bond prices swooned in 2022, TIPS also suffered. "They're not always the perfect inflation hedge in the short term, and they are very sensitive to changes in market interest rates." Be aware that while there are no state or local taxes on interest, federal taxes apply.

Persons: Brett Wander, Morningstar, US5YTIPS, Bill Ahmuty, Amy Arnott, They're, Arnott Organizations: Federal Reserve, Schwab Asset Management, Fed, State Street Global Advisors, Morningstar Research Services Locations: TreasuryDirect

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. The U.S. central bank on Wednesday kept its key lending rate steady, as expected, but indicated another hike is possible as it and other central banks tighten policy to tame inflation. Major equity indices in Europe and on Wall Street fell more than 1% on concerns higher rates will curb growth. /FRXMirroring a rise in Treasury yields, Germany's 10-year government bond yield touched a fresh six-month high of 2.73% and Britain's 10-year gilt yield rose to 4.29% after falling on Wednesday to its lowest since July. Gold extended its decline for a third straight day as the dollar and Treasury yields rallied on the Fed's warning of a possible additional rate hike.

Persons: Brendan McDermid, there's, Michael Arone, Jack Ablin, it's, John Hardy, Hardy, Brent, Xie Yu, Marguerita Choy, Tomasz Janowski, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Swiss, Bank of England, Swiss National Bank, Fed, State Street Global Advisors, Reuters, Treasury, Cresset Capital Management, Saxo Bank, Dow Jones, Nasdaq, Sterling, Reuters Graphics, U.S, West Texas Intermediate, Thomson Locations: New York City, U.S, Norway, Sweden, Europe, Boston, Pebble Beach , Florida, Hong Kong

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Stocks retreat, US yields advance, dollar strengthens on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Passersby walk past an electric board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Sept 21 (Reuters) - Asian stocks followed Wall Street's lead on Thursday, dipping across the board as investors interpreted the U.S. Federal Reserve's latest policy statements as signalling higher-for-longer interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.6%, with the Hong Kong benchmark shedding 0.8%. The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970%. The overall tone of the Fed's latest meeting was not overly hawkish but there were two surprises, he said.

Persons: Issei Kato, Ben Luk, Luk, Brent, Xie Yu Organizations: Nikkei, REUTERS, . Federal, Hong, Japan's Nikkei, Treasury, State Street Global Markets, Fed, U.S ., Major U.S, Bank of England, Thomson Locations: Tokyo, Japan, HONG KONG, ., Asia, Pacific, Hong Kong, U.S, Indonesia, Philippines, Taiwan

☆ US homebuyers are waiting for the Fed to start cutting interest rates. Here's when 9 experts say it's going to happen.
▼ + stars: | 2023-09-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Mortgage rates could decline if the Federal Reserve cuts interest rates next year. Here are nine projections from experts on when the Fed's first rate cut will come. While these factors serve as deterrents for prospective buyers, interest rates may not stay this high forever. AdvertisementAdvertisementWhile declining interest rates wouldn't directly cause mortgage rates to fall, the two tend to move in the same direction. AdvertisementAdvertisementFebruaryOn August 31, Preston Caldwell, a Morningstar senior US economist, wrote in a note that he expected the Fed to start cutting interest rates in February.

Persons: Bob Michele, J.P, —, we'll, Preston Caldwell, David Einhorn, Diane Swonk, Andrew Hollenhorst, Goldman Sachs, David Mericle, Simona Mocuta, Jeff Morton Organizations: Federal Reserve, Service, Federal, Bloomberg Television, Morgan Asset, Morningstar, KPMG, Citi, Reuters, State Street Global Advisors, DWS Locations: Wall, Silicon, North America's

☆ Australian jobs surge as productivity debate heats up
▼ + stars: | 2023-09-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

"Headline indicators report a very strong employment report, but the bias towards predominantly part-time employment should temper exuberance," said Dwyfor Evans, head of APAC macro strategy at State Street Global Markets. Markets maintained bets that the Reserve Bank of Australia (RBA) would keep rates steady next month, with an about 40% chance of one final hike early next year. WAGES, PRODUCTIVITYThe strong figures showed Australia's jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its COVID-era border restrictions. loadingTreasurer Jim Chalmers on Thursday welcomed the strong jobs report, but warned that the labour market could slow from here, a consensus view among economists. Adam Boyton, head of Australian research at ANZ, is already seeing signs of slackening in the labour market, with underemployment rate creeping up and hours worked falling.

Persons: Barista Claudio Chimisso, Loren Elliott, Dwyfor Evans, Tim Gurner, Alexandria Ocasio, Cortez, Jim Chalmers, Chalmers, Adam Boyton, Boyton, Stella Qiu, Kim Coghill, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Street Global, Reserve Bank, Australian, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia, China

☆ Wall Street’s mood is improving — but it’s far from upbeat
▼ + stars: | 2023-09-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Wall Street’s optimism has edged up in recent weeks after an August slump to levels not seen since the collapse of several regional banks earlier this year. CNN’s Fear & Greed Index, which tracks seven different barometers for market sentiment, has oscillated between “neutral” and “greed” territory this month after plunging to a “fear” reading mid-August. The broad-based S&P 500 index has roared 16% higher this year, propped up by Wall Street’s infatuation with artificial intelligence that’s driven a powerful rally in tech stocks. While the Fed’s policy meeting is taking place next week, there’s a laundry list of factors stoking uncertainty in the market. September has historically been the worst month for stocks, and it could live up to its reputation this year.

Persons: it’s, August’s selloff, ”, Eric Sterner, Wall, Michael Arone, Arone, Chris Isidore, “, Gary Quirk, Quirk, epitomize, Birkenstock Organizations: CNN Business, Bell, CNN, Apollon Wealth Management, Federal Reserve, Stocks, State Street Global Advisors, American, of, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Wall Street, US Securities and Exchange Commission, New York Stock Exchange, Financial Locations: Kokomo , Indiana, New York, United States

☆ The Arm IPO is here, but many ETFs will not be buyers
▼ + stars: | 2023-09-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The Cupertino, Calif.-based company licenses its processorIPO and tech enthusiasts are excited about the Arm Holdings Plc initial pubic offering, and with good reason: it's the first big tech IPO in more than two years. However, some investors who would like to get immediate exposure to the Arm IPO through ETFs may be disappointed. However, this particular IPO highlights several difficulties that even large companies like Arm have in acquiring a broader ownership base through ETFs. The first problem is that Arm is not a U.S. company, it's British — which generally would exclude it from the S&P indexes. Potential ETF buyers: Nasdaq-100 ETF, IPO ETFsThere are some potential ETF buyers.

Persons: Matt Bartolini, Howard Silverblatt, Van Eck, Jan Van Eck, Todd Sohn, it's, Matt Kennedy, Nate Geraci, I'm Organizations: ARM Holdings, Arm Holdings, Nasdaq, Tech, ARM, P, SPDR Technology, SPDR, SPDR Americas Research, Street Global Advisors, Global, Renaissance, Van Eck Semiconductor, CNBC, Vanguard Total U.S, Renaissance Capital Locations: Cupertino, Calif, U.S, SPDR Americas

☆ This new dividend ETF offers investors income at a rock-bottom fee
▼ + stars: | 2023-09-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors who are hungry for income have a new exchange-traded fund option on the market that comes with a low price tag. The SPDR Portfolio S & P Sector Neutral Dividend ETF (SPDG) launched this week and holds stocks in the S & P 1500 that have maintained or increased their dividends for at least seven consecutive years. For example, the SPDR S & P Dividend ETF (SDY) has an expense ratio of 0.35%, as does the ProShares S & P 500 Dividend Aristocrats ETF (NOBL) . It's even a bit lower than the 0.06% of the Vanguard High Dividend Yield Index ETF (VYM) . The fund's index, the S & P Sector-Neutral High Yield Dividend Aristocrats Index, has a dividend yield of 3.13%, according to State Street.

Persons: Matthew Bartolini, Bartolini Organizations: Vanguard, SPDR, SPDR Americas Research, Street Global Advisors, P, SEC Locations: financials, SPDR Americas

☆ Inflation woes persist for small businesses as they struggle to hire
▼ + stars: | 2023-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey from the National Federation of Independent Business released Tuesday. Optimism among more than 600 small businesses surveyed declined in August from the prior month, snapping a three-month streak of improving sentiment. The share of small business owners saying they had job openings that were hard to fill stood at 40% last month, down slightly from July but still historically high. “With small business owners’ views about future sales growth and business conditions discouraging, owners want to hire and make money now from strong consumer spending,” said Bill Dunkelberg, the NFIB’s chief economist, in the release. The US economy remains on strong footing, despite rapid rate hikes, with consumer spending jumping 0.8% in July and retail sales advancing 0.7% that month.

Persons: Washington CNN —, ”, Bill Dunkelberg, Goldman Sachs, Simona Mocuta Organizations: Washington CNN, National Federation of Independent Business, Federal Reserve, Labor Department, American Bankers, Economic, Committee, State Street Global Advisors

☆ If energy prices remain high, inflation could re-accelerate: State Street
▼ + stars: | 2023-09-06 | 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 EmailIf energy prices remain high, inflation could re-accelerate: State StreetDwyfor Evans, managing director and head of APAC Macro Strategy at State Street Global Markets, speaks to CNBC's Dan Murphy about the potential impact of crude prices remaining high.

Persons: Dwyfor Evans, CNBC's Dan Murphy Organizations: Street Global

☆ Asian shares set for worst month since Feb on China gloom
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Data on Thursday showed China's manufacturing activity contracted for a fifth straight month in August, and the expansion in services sector lost a little momentum. Chinese blue-chips (.CSI300) were flat but a 2.5% rebound in property stocks boosted Hong Kong's Hang Seng Index, which rose 0.7%. Barring the China gloom, investor confidence jumped in August, with a global confidence index (ICI) from State Street Global Markets surging 11.4 points to 107.7, led by North America which recorded the strongest reading in a year on easing recession fears. Brent crude futures were little changed at $85.88 per barrel and U.S. West Texas Intermediate crude futures were up 0.1% at $81.74.

Persons: Marvin Loh, payrolls, Stella Qiu, Shri Navaratnam Organizations: U.S, PCE, Japan's Nikkei, ICI, Street Global, North, Global ICI, State Street Global, Federal, European Central Bank, Brent, . West Texas, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, North America, Europe, Germany, Spain

☆ Treasury volatility will continue to spill over into stocks, strategist says
▼ + stars: | 2023-08-31 | 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 EmailTreasury volatility will continue to spill over into stocks, strategist saysDes Lawrence, senior investment strategist at State Street Global Advisors, discusses the outlook for U.S. equities.

Persons: Des Lawrence Organizations: State Street Global Advisors

☆ Indexes end higher in volatile trade as investors assess Powell speech
▼ + stars: | 2023-08-25 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Powell also acknowledged that price pressures have eased in his much-anticipated morning speech at the Economic Policy Symposium at Jackson Hole, Wyoming. Powell "is demonstrating that he is pleased with how far monetary policy has come and how inflation has been reduced. All of the major S&P 500 sectors rose, with consumer discretionary (.SPLRCD), technology (.SPLRCT) and energy (.SPNY) among the top gainers. Reuters GraphicsThe S&P 500 and Nasdaq also ended higher for the week, with the Nasdaq rising about 2.3% and ending a three-week streak of losses. The S&P 500 posted 6 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 23 new highs and 202 new lows.

Persons: Jerome Powell, Powell, Michael Arone, Brendan McDermid, Nordstrom, Caroline Valetkevitch, Amruta Khandekar, Lewis Krauskopf, Shinjini Ganguli, Deepa Babington Organizations: Marvell Technology, Nordstrom, Dow, Nasdaq, Federal, State Street Global Advisors, Dow Jones, Reuters, Traders, New York Stock Exchange, REUTERS, Hostess Brands, Hawaiian Electric Industries, NYSE, Thomson Locations: U.S, , Wyoming, Boston, New York City, Hawaii, Maui

☆ Indexes end higher in volatile trade as investors take in Powell speech
▼ + stars: | 2023-08-25 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Powell also acknowledged that price pressures have eased in his much-anticipated morning speech at the Economic Policy Symposium at Jackson Hole, Wyoming. According to preliminary data, the S&P 500 (.SPX) gained 29.01 points, or 0.66%, to end at 4,405.32 points, while the Nasdaq Composite (.IXIC) gained 125.16 points, or 0.93%, to 13,589.13. All of the major S&P 500 sectors ended higher, with energy (.SPNY), consumer discretionary (.SPLRCD) and technology (.SPLRCT) among the top gainers. The S&P 500 and Nasdaq also ended higher for the week, with the market gaining in the run up to Nvidia's (NVDA.O) second-quarter results.

Persons: Brendan McDermid, Jerome Powell, Powell, Michael Arone, Nordstrom, Amruta Khandekar, Lewis Krauskopf, Shinjini Ganguli, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Marvell Technology, Nordstrom, Federal, Nasdaq, Dow Jones, State Street Global Advisors, Hostess Brands, Reuters, Thomson Locations: New York City, U.S, , Wyoming, Boston, Hawaii, Maui, New York

"We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," Powell said in a keynote address to the Jackson Hole Economic Policy Symposium. "It is the Fed’s job to bring inflation down to our 2% goal, and we will do so. The Fed has raised rates by 5.25 percentage points since March 2022, and inflation by the Fed's preferred gauge has moved down to 3.3% from its peak of 7% last summer. Although the decline was a "welcome development," Powell said, inflation "remains too high." Fed policymakers will also meet in November and December.

Persons: JACKSON, Jerome Powell, Powell, Jackson, Elizabeth Frantz, “ Powell, Michael Arone, Loretta Mester, Austan Goolsbee, Howard Schneider, Ann Saphir, Michael S, Lewis Krauskopf, Andrea Ricci Organizations: Federal, Federal Reserve Bank of Kansas City, Federal Reserve, Committee, REUTERS, Fed, State Street Global Advisors, Cleveland Fed, Chicago Fed, Derby, Thomson Locations: , Wyoming, U.S, Washington , U.S

☆ Inflation is 'very sticky' and higher than expected, strategist says
▼ + stars: | 2023-08-24 | 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 EmailInflation is 'very sticky' and higher than expected, strategist saysMehvish Ayub of State Street Global Advisors says it's a "poor environment" for fixed income in the medium term.

Persons: Mehvish Ayub, it's Organizations: State Street Global Advisors

☆ Analysis: Japan's policymakers hold fire as yen enters intervention range
▼ + stars: | 2023-08-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

But a key factor behind the yen's weakness is unchanged, namely the yawning yield gap with the United States. Yet currency traders remain nervous about provoking intervention, as the yen entered the same zone that triggered heavy dollar selling by Japanese authorities in September and October of last year. For now, traders are testing the waters by selling the yen against sterling and the Swiss franc, mindful that selling against the dollar could gather momentum quickly. From a purely macroeconomic perspective, Kichikawa said, officials have no imperative to prevent yen weakness before 150, which is consistent with the mild inflationary pressure that the BOJ aims to foster. The bond market, which precipitated the yen's slide, may ultimately give Japan's authorities reason to hold off on pressing the intervention button.

Persons: Shunichi Suzuki, Suzuki, Aaron Hurd, Masayuki Kichikawa, Brent, Kichikawa, Shinichiro Kadota, Kevin Buckland, Saqib Iqbal Ahmed, Simon Cameron, Moore Organizations: Bank of Japan, Finance, State Street Global Advisors, Swiss, Brent, Sumitomo Mitsui DS Asset Management, Treasury, Barclays, Thomson Locations: TOKYO, United States, Tokyo, Boston, Japan

☆ How do I invest in a S&P 500 fund? Should I trade stocks after hours? We've got answers
▼ + stars: | 2023-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Are you referring to the S & P index itself, or one of the variations, and which symbol(s)? Thanks, Doug W. There are many exchange-traded funds (ETFs) that track the S & P 500 . The top three by assets under management, in order from largest to smallest, would be the State Street Global Advisors' SPDR S & P 500 ETF Trust (SPY) , BlackRock's iShares Core S & P 500 ETF (IVV) , and the Vanguard S & P 500 ETF (VOO) . As mentioned in the question, there are lots of ETFs that track the S & P 500, so by no means are these three the only games in town. Volume usually does pick up outside of normal trading hours when an event takes place, such as an earnings release.

Persons: Jim Cramer, I've, Warren Buffett, Doug W, Jim Cramer's, Jim, doesn't, that's, we're, it's Organizations: State Street Global Advisors, Trust, Vanguard, Jim Cramer's Charitable Trust, Club, CNBC

☆ U.S. macroeconomic conditions remain 'very strong,' strategist says
▼ + stars: | 2023-08-11 | 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 EmailU.S. macroeconomic conditions remain 'very strong,' strategist saysBen Luk of State Street Global Markets discusses the latest U.S. inflation data.

Persons: Ben Luk Organizations: Street Global Markets

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

☆ U.S. won't regain its Fitch AAA status without political stability, economist says
▼ + stars: | 2023-08-03 | 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 EmailU.S. won't regain its Fitch AAA status without political stability, economist saysElliot Hentov, head of macro policy research at State Street Global Advisors, says this week's Fitch downgrade is unlikely to be reversed without a much more stable political landscape. Hentov was a member of the S&P team that downgrade the U.S. sovereign credit rating in 2011.

Persons: Elliot Hentov, Fitch, Hentov Organizations: U.S, Fitch AAA, Street Global Advisors

☆ State Street is cutting fees on 10 funds worth more than $70 billion combined
▼ + stars: | 2023-08-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The biggest fund seeing an expense cut is the SPDR Portfolio S&P 500 ETF (SPLG) , with roughly $20 billion in assets under management. The changes impact roughly half of the SPDR Portfolio ETF suite, including funds focused on U.S. stocks, foreign stocks and fixed income. Combined, the 10 funds hold about $77 billion in assets, according to FactSet. The SPLG will now have an expense ratio of just 0.02% and a per share price of close to $50. It has been a massive win for smaller investors," Thompson said.

Persons: Sue Thompson, Thompson Organizations: State Street Global Advisors, BNY, Core Equity Locations: Americas

☆ Why substituting cryptocurrency for gold exposure may be a costly mistake
▼ + stars: | 2023-07-29 | by ( Lina Hassen | ) www.cnbc.com time to read: +2 min

State Street Global Advisors' George Milling-Stanley, whose firm runs the world's largest gold exchange-traded fund, believes cryptocurrency is no substitute for the real thing due its vulnerability to big losses. Milling-Stanley's firm is behind SPDR Gold Shares , the world's largest physically backed gold ETF. Milling-Stanley believes gold's 6,000-year history as a monetary asset serves as a significant sample basis to understand the benefits of investing in gold. But Milling-Stanley believes the economic backdrop bodes well for gold — recession or not. It's known as the world's largest consumer of gold jewelry behind India, according to the World Gold Council.

Persons: George Milling, Stanley, cryptocurrency, CNBC's, gold's, It's, Gold Organizations: Street Global Advisors, World Gold, it's Locations: China, India, It's Vietnam, it's Indonesia, it's Thailand, Korea

☆ The Bank of Japan just shocked markets with a policy tweak — here's why it matters
▼ + stars: | 2023-07-28 | by ( Silvia Amaro | ) www.cnbc.com time to read: +5 min

Kazuo Ueda, governor of the Bank of Japan (BOJ). Bloomberg | Bloomberg | Getty ImagesThe Bank of Japan announced Friday "greater flexibility" in its monetary policy — surprising global financial markets. The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. When asked if the central bank had shifted from dovish to neutral, he said: "That's not the case. MUFG said that Friday's "flexibility" tweak shows the central bank is not yet ready to end this policy measure.

Persons: Kazuo Ueda, Shigeto Nagai, CNBC's, —, Duncan Wrigley, MUFG, Governor Ueda, Michael Metcalfe, Metcalfe Organizations: Bank of Japan, Bloomberg, Getty, of Japan, Nasdaq, Oxford Economics, disinflation, Capital Economics, U.S, U.S . Federal, Bank, Pantheon, Street Global Locations: Europe, Japan, U.S ., China, dovish

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