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☆ Global investors getting more and more wary of betting on China, says Atlantic Council's Kempe
▼ + stars: | 2023-07-06 | 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 EmailGlobal investors getting more and more wary of betting on China, says Atlantic Council's KempeFred Kempe, Atlantic Council CEO, joins 'The Exchange' to discuss the current status of relations between the U.S. and China, what a win would be for Janet Yellen's visit to China, and more.

Persons: Council's Kempe Fred Kempe, Janet Yellen's Organizations: Email Global, Atlantic, U.S Locations: China

☆ Mills: Yellen's visit to China is a way to build confidence between Washington and Beijing
▼ + stars: | 2023-07-06 | 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 EmailMills: Yellen's visit to China is a way to build confidence between Washington and BeijingEd Mills, Raymond James Washington Policy Analyst, discusses what Treasury Secretary Janet Yellen can reasonably achieve through her four-day visit to China, amid rising tensions with the U.S. and the West.

Persons: Beijing Ed Mills, Raymond James Washington, Janet Yellen Organizations: U.S Locations: China, Washington, Beijing

☆ Gold flat as investors await U.S. data for rate cues
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was flat on Thursday as investors awaited a raft of U.S. economic data that could influence the Federal Reserve's policy trajectory, after minutes of its June meeting reaffirmed expectations that interest rates could remain higher for longer. Spot gold held its ground at $1,917.46 per ounce by 0459 GMT, while U.S. gold futures fell 0.2% to $1,924.10. Therefore, a series of labor market data will be on watch, but much will still revolve around a continued moderation in wage pressures, he added. Rising U.S. interest rates increase the opportunity cost of holding non-yielding bullion.

Persons: Gold, Jun Rong, Wang Tao, Janet Yellen's Organizations: Aurum, IG, Traders, Investors, U.S . Labor, Labor, Survey, Treasury Locations: U.S, Janet Yellen's Beijing

☆ Morning Bid: China dampens the mood again
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Sonali DesaiChina's faltering economic recovery has once again dominated activity in financial markets, dampening risk sentiment and giving the dollar a broad boost in relatively muted moves after the U.S. July 4 holiday. The private-sector Caixin/S&P Global services purchasing managers index hit a five-month low in June, reflecting growing vulnerability in a once resilient sector of the massive economy. The data quickly reversed a day-old bounce in the Chinese yuan, which appeared on Tuesday to have finally paid heed to the central bank's series of stronger-than-expected midpoint settings and other measures to slow its decline. Beijing's export curbs on two widely used metals in semiconductors and electric vehicles continued to dominate headlines, drawing strident commentary in the domestic press just before Treasury Secretary Janet Yellen's visit to China. The European and UK calendar is dominated by final services and composite PMIs for June, also expected to confirm a slowing in what has been a consumption-led economic recovery.

Persons: Sonali Desai, Janet Yellen's, Tesla, BYD, Francois Villeroy de Galhau, Jacqueline Wong Organizations: U.S, P Global, ECB policymaker, Paris U.S, Thomson Locations: China, U.S, Paris

☆ U.S.-China ties are 'getting a little bit better' overall, despite Beijing's metals export curbs
▼ + stars: | 2023-07-05 | 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 EmailU.S.-China ties are 'getting a little bit better' overall, despite Beijing's metals export curbsZhiwei Zhang of Pinpoint Asset Management says the overall trend shows that relations between U.S. and China are 'getting a little bit better' with Treasury Secretary Janet Yellen's planned trip to China ahead, even though Beijing just restricted export on chipmaking metals.

Persons: Janet Yellen's Organizations: U.S Locations: China, Beijing

☆ Yellen's China visit aims at 'new normal' with Beijing
▼ + stars: | 2023-07-05 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

Chinese officials are concerned about the Biden administration's plans to limit U.S. companies' China investments and what they see as moves to decouple the two economies. "There is no substitute for diplomacy," said one senior administration official. "Secretary Yellen’s trip is more than a step toward preparation for a potential Biden-Xi meeting at APEC. Despite the cooling relations, trade between the U.S. and China grew in 2022 for the third year in a row, U.S. Commerce Department data show. Two other Cabinet secretaries, Commerce chief Raimondo and U.S. Trade Representative Katherine Tai, met in May with Chinese Commerce Minister Wang Wentao.

Persons: Janet Yellen's, Biden, COVID lockdowns, Antony Blinken, Xi Jinping, Wu Xinbo, Yellen's, Gina Raimondo, Derek Scissors, Yellen, Russia's Wagner, Joe Biden, Xi, Scott Kennedy, Jake Colvin, Donald Trump, Colvin, Lifeng, Liu He, Raimondo, Katherine Tai, Wang Wentao, Andrea Shalal, Michael Martina, Lun Tian Yew, Dan Burns, Heather Timmons, Andrea Ricci Organizations: . Treasury, China's Fudan University, American Enterprise Institute, U.S, Economic Cooperation, Biden, APEC, Center for Strategic, International Studies, Foreign Trade, . Commerce Department, Treasury, . Trade, Chinese Commerce, Thomson Locations: China, Russia, U.S, Beijing, Ukraine, United States, Asia, San Francisco, Washington, Zurich, Wang Wentao .

July 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. U.S.-China trade tensions appear to be intensifying by the day - the latest flare up coming over Beijing's restrictions on exports of some metals - not the best backdrop for Yellen's visit on Thursday. However well - or otherwise - Yellen's visit goes, there will be no quick fix. Here are key developments that could provide more direction to markets on Thursday:- U.S. Treasury Secretary Janet Yellen visits China- Australia trade (May)- Taiwan inflation (June)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Janet Yellen, Taiwan's Foxconn, Foxconn's, Wei Jianguo, Lisa Shumaker Organizations: Treasury, Apple Inc, U.S, Vice Commerce, Bank Negara Malaysia, . Treasury, Thomson, Reuters Locations: Beijing, Malaysian, China, Washington, Malaysia, India, South Korea, Indonesia, New Zealand, Bank, Australia, Taiwan

☆ U.S.-China relations are the worst they've been in thirty years, says attorney Dennis Unkovic
▼ + stars: | 2023-07-05 | 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 EmailU.S.-China relations are the worst they've been in thirty years, says attorney Dennis UnkovicDennis Unkovich, Meyer, Unkovic and Scott partner, joins 'Power Lunch' to discuss if the relationship between the U.S. and China can be mended by a State Department visit, Yellen's upcoming visit to China, and more.

Persons: Dennis Unkovic Dennis Unkovich, Meyer, Unkovic, Scott Organizations: U.S, State Department Locations: China

☆ Top China expert weighs in on Secretary Yellen's upcoming trip to Beijing
▼ + stars: | 2023-07-05 | 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 EmailTop China expert weighs in on Secretary Yellen's upcoming trip to BeijingJohn Rutledge, Safanad chief investment strategist, joins 'Fast Money' to talk Treasury Secretary Janet Yellen's upcoming China trip and what it could mean for the already tense relations between the two countries.

Persons: Beijing John Rutledge, Janet Yellen's Locations: China, Beijing

☆ China adviser warns chipmaking export curbs are 'just a start', as Yellen visit looms
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

Shares in some Chinese metals companies rallied for a second session, with investors betting that higher prices on gallium and germanium, which Beijing's export restrictions target, could boost revenues. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices as well as satellite imagery sensors. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. CURBS ON EXPORTS TO CHINAWashington is considering new restrictions on the shipment of high-tech microchips to China, following a series of curbs over the past few years. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Yellen's, Biden, China's, Wei Jianguo, Wei, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Christopher Cushing, Muralikumar Organizations: Independence, Analysts, Micron, Commerce, China Daily, China Center for International Economic Exchanges, Global Times, Shanghai Cooperation Organization, Shanghai Metal Exchange, Beijing, Thomson Locations: BEIJING, SHANGHAI, Beijing, Japan, Netherlands, China, CHINA Washington, United States, Yunnan

☆ Washington is overwhelmingly hawkish on China, says Michelle Caruso-Cabrera
▼ + stars: | 2023-07-05 | 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 EmailWashington is overwhelmingly hawkish on China, says Michelle Caruso-CabreraCNBC contributor Michelle Caruso-Cabrera and Dewardic McNeal, Longview Global managing director, join 'Squawk Box' to discuss U.S.-China relations ahead of Treasury Secretary Janet Yellen's visit to China this week, and more.

Persons: Michelle Caruso, Cabrera, Dewardic McNeal, Janet Yellen's Organizations: Washington, Cabrera CNBC, Longview Global, U.S Locations: China

☆ Treasury's Yellen to visit China this week to expand communications
▼ + stars: | 2023-07-03 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

China protested loudly when Biden subsequently referred to Xi as a "dictator," but analysts say the remark had little impact on efforts to improve ties. "We seek a healthy economic relationship with China, one that fosters growth and innovation in both countries," the official said. The official, speaking on condition of anonymity, declined to give details on which Chinese officials Yellen would meet in Beijing. A second administration official told Reuters that Yellen was expected to meet the Chinese Vice Premier He Lifeng. Yellen would underscore Washington's determination to strengthen its own competitiveness while responding with allies to what Washington calls "economic coercion" and unfair economic practices by China, the first official said.

Persons: Janet Yellen, Joe Biden, Antony Blinken, Xi Jinping, Biden, Xi, Yellen, Andrea Shalal, Ross Colvin, Nick Zieminski Organizations: . Treasury, Treasury, Washington, Reuters, Micron Technology, Thomson Locations: Beijing, China, U.S

☆ Treasury Secretary Janet Yellen to meet with senior officials in China this week
▼ + stars: | 2023-07-03 | by ( Christine Wang | ) www.cnbc.com time to read: +1 min

U.S. Secretary of the Treasury Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC. Treasury Secretary Janet Yellen will travel to Beijing this week to meet with senior Chinese officials. The Treasury said Yellen is expected to discuss a number of macroeconomic and financial issues, as well as how the U.S. and China can "responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges." The department said it would provide further details on her trip at a later date. Yellen's trip comes just weeks after Secretary of State Antony Blinken met with China's President Xi Jinping in Beijing.

Persons: Janet Yellen, Yellen, Antony Blinken, Xi Jinping Organizations: Financial, Treasury, U.S . Locations: Washington , DC, Beijing, U.S, China

☆ Treasury Secretary Janet Yellen's expected visit to China: Here's why it matters
▼ + stars: | 2023-06-27 | 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 Secretary Janet Yellen's expected visit to China: Here's why it mattersAnthony Coley, former Treasury Deputy assistant secretary, joins 'Power Lunch' to discuss Treasury Secretary Janet Yellen's potential visit to China.

Persons: Janet Yellen's, Anthony Coley Locations: China

☆ Treasury now says it could run out of money June 5, buying time for debt ceiling talks
▼ + stars: | 2023-05-26 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +3 min

WASHINGTON — Treasury Secretary Janet Yellen said Friday that the United States will likely have enough reserves to push off a potential debt default until June 5. "We now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5," Yellen wrote in a letter to House Speaker Kevin McCarthy. On Wednesday, the Fitch credit rating agency announced it had placed the United States' triple-A status on "rating watch negative." On Friday, in a preliminary International Monetary Fund annual assessment of the United States, officials wrote that "brinkmanship over the federal debt ceiling could create a further, entirely avoidable systemic risk to both the U.S. and the global economy." Should the United States technically default, even for just a few days, it could drive up interest rates and undermine confidence in the U.S. dollar.

☆ Janet Yellen isn't 'credible' and the US won't default on its debt on June 1, Republican congressman says
▼ + stars: | 2023-05-25 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +5 min

Congress can't raise the debt ceiling and avoid economic crisis because Republicans want spending cuts. Janet Yellen said Treasury may not be able to delay a default past June 1. To avoid a default, Congress has to raise the debt ceiling, and Republicans won't do it unless Democrats agree to spending cuts. Janet Yellen was wrong on having interest rates too low for far too long. Asked about his alternative date, Donalds said, "Listen, I'm not the Treasury Secretary.

☆ JPMorgan's Jamie Dimon just sounded off on what it takes to be a good CEO
▼ + stars: | 2023-05-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

JPMorgan CEO Jamie Dimon has a take that might surprise you. Succession plans for the unofficial face of Wall Street have long been speculated on. One of the biggest issues we see on Wall Street, or in business more broadly, is an executive not knowing when to cut ties. Want to know what a Wall Street hiring raid looks like? Here's Wall Street's plan if the US defaults on its debt.

☆ Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
▼ + stars: | 2023-05-23 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — A significant group of House Republicans raised questions Tuesday about whether the Treasury Department's June 1 deadline to avoid a potential U.S. debt default was accurate. "We'd like to see more transparency on how they come to that date," House Majority Leader Rep. Steve Scalise said Tuesday at a news conference. "We're getting closer," McCarthy told reporters late Monday, adding that the "circle" of issues was becoming "smaller, smaller, smaller." A Republican negotiator, Rep. Patrick McHenry, N.C., told reporters that spending was still the biggest hurdle to an agreement. Rep. Garret Graves, R-La., left, and Rep. Patrick McHenry, R-N.C., speak to reporters about debt ceiling negotiations as they leave the House Republicans' caucus meeting at the Capitol Hill Club in Washington, May 23, 2023.

Persons: Kevin McCarthy, Joe Biden, Andrew Caballero, Reynolds, Steve Scalise, Scalise, Janet Yellen's, Nathan Howard, Biden, We're, McCarthy, Karine Jean, Pierre, Jean, Pierre said, Katherine Clark, Elise Stefanik, Patrick McHenry, Garret Graves, Bill Clark Organizations: White, AFP, Getty Images WASHINGTON, House Republicans, Treasury, Republican, Bloomberg, Getty, CNBC, US, Democratic, Courage for America, Capitol, Getty Images House Republicans, Rep, Republicans, Capitol Hill Club, CQ, Inc Locations: Washington ,, United States, California, Washington , DC, U.S, N.C, R, Washington

☆ CNBC Daily Open: Goodbye for now, default fears
▼ + stars: | 2023-05-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Progress on U.S. debt ceiling talks and a sign of health at one regional bank gave markets the confidence to rally Wednesday. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. PacWest, another regional bank, surged 21.7%, while the broader SPDR S&P Regional Banking ETF (KRE) rose 7.4%. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Farewell for now, default fears
▼ + stars: | 2023-05-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Progress on U.S. debt ceiling talks and a sign of health at one regional bank gave markets the confidence to rally Wednesday. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Progress on U.S. debt ceiling talks and a sign of health at one regional bank gave markets the confidence to rally Wednesday. PacWest, another regional bank, surged 21.7%, while the broader SPDR S&P Regional Banking ETF (KRE) rose 7.4%.

☆ Yellen warns of broken markets, disrupted services as she ramps up debt ceiling pressure
▼ + stars: | 2023-05-16 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

Janet Yellen, US Treasury secretary, during a news conference at the Treasury Department in Washington, DC, US, on Tuesday, April 11, 2023. "A default would crack open the foundations upon which our financial system is built," Yellen warned in prepared remarks. Yellen also warned that a debt ceiling breach could affect essential government services. Lifting the debt ceiling is necessary for the government to cover spending commitments already approved by Congress and the president and prevent default. "A default could cause widespread suffering as Americans lose the income that they need to get by," Yellen said.

[1/2] The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. In her second letter to Congress in two weeks, Treasury Secretary Janet Yellen confirmed that the agency will be unlikely to meet all U.S. government payment obligations by early June, triggering the first-ever U.S. default. The debt ceiling could become binding by June 1, she said. She said she will provide an additional update to Congress next week as more information becomes available. The non-partisan Congressional Budget Office last week said the United States faces a "significant risk" of defaulting on payment obligations within the first two weeks of June without a debt ceiling hike, with payment operations uncertain throughout May.

☆ Debt ceiling worries deepen as early June U.S. default reinforced
▼ + stars: | 2023-05-12 | by ( Richard Cowan | ) www.reuters.com time to read: +6 min

The U.S. Congressional Budget Office report, issued Friday morning, confirms Treasury Secretary Janet Yellen's earlier warnings that a default could come as early as June 1. Congress' budget scorekeeper also noted that the federal government's debt payments "will remain uncertain throughout May, even if the Treasury ultimately runs out of funds in early June." She also said she remained optimistic that the debt limit problem would be resolved. A senior Treasury official told Reuters she would do that with board members of the Bank Policy Institute lobby group. Democratic Representative Abigail Spanberger said members of the U.S. Congress ought to have their paychecks withheld until the debt limit problem is resolved.

☆ The government's main budget experts confirmed that the US could risk economic catastrophe as soon as early June
▼ + stars: | 2023-05-12 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The nonpartisan Congressional Budget Office projected the US could run out of money in early June. That projection tracks with Treasury Secretary Janet Yellen's warnings on when the US could default. Congress can step in and prevent the crisis, but so far Republicans and Democrats are still sparring. So far, though, Congress seems to be running up the clock as Republicans and Democrats spar over how to avert a preventable catastrophe. The top lawmakers were expected to meet with Biden again on Friday to discuss the debt ceiling, but the meeting was reportedly postponed to give staffers more time to chat on potential areas of compromise.

☆ Morning Bid: US debt drama crashes Japan's G7 party
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Kevin Buckland. But almost everyone also wants to hear from her that the United States can sort out its own debt ceiling conundrum and avoid a potentially disastrous default. The United States isn't the only concern either. Chinese inflation data showed consumer prices almost flat-lining in April, while factory gate deflation deepened. Ten-year Treasury yields continued to tick lower in Tokyo, putting the U.S. dollar under pressure against the yen.

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