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☆ BMO: These 42 dividend stocks will provide strong income growth as inflation continues to run hotter than expected
▼ + stars: | 2022-10-15 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Brian Belski, the top strategist at BMO Capital Markets, just cut his S&P 500 price target. Here are 42 stocks to consider for strong dividend growth as prices continue to surge. His revised S&P 500 target implies that the index will rise by a "more realistic" 19% in the fourth quarter to finish the year at 4,300. Focus on 42 stocks with solid dividend growth as inflation runs rampantBelski and his colleagues at BMO Capital Markets have nine investing strategy portfolios that can serve as models for investors. Below are the 42 stocks that are currently in the US dividend growth portfolio along with the ticker, sector, dividend yield as of October 10, and rating from BMO analysts for each.

☆ BMO cuts 2022 year-end S&P 500 outlook, saying it underestimated inflation
▼ + stars: | 2022-10-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

BMO Capital Markets chief investment strategist Brian Belski cut his 2022 year-end stock market forecast after saying he underestimated the impact inflation would have on markets. The simple answer is the inflation environment, which we underestimated with our previous forecast. And with future CPI reports expected to remain hot, we decided we need to be more realistic in terms of 4Q performance expectations," Belski wrote in a Thursday note. The September reading on the consumer price index released Thursday showed inflation rising more than anticipated. "[Although] we have tempered our enthusiasm, we truly believe that stocks can and should rebound from current levels," Belski wrote.

The ECB, which bought 5 trillion euros of bonds ($4.9 trillion) over the past decade to lift low inflation, now finds itself battling record high inflation at 10%. "This consideration also makes the practical implementation of ECB QT significantly harder," BofA said. That would reduce its balance sheet by a "manageable" 155 billion euros in 2023 and 300 billion euros in 2024, ING reckons. An eventual wind-down of PEPP holdings could add to balance sheet reductions in 2025 worth a total 388 billion euros, ING said. AllianceBernstein portfolio manager Nick Sanders said he was "sceptical" how the ECB could achieve QT with those protections in place.

The dollar strengthened 0.22% to 146.18 yen in Asian trading, after pushing as high as 146.39 for the first time since August 1998. The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese authorities staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Elsewhere, sterling which earlier touched $1.0925, marking a fresh low since Sept. 29, bounced 0.4% to $1.1008 after the FT report. The euro slumped to its weakest since Sept. 29 overnight at $0.9670 and remained not far from that level, trading 0.08% lower than Tuesday's close at $0.96975.

☆ Dollar at 24-year peak to yen as U.S. yields jump; sterling on the ropes
▼ + stars: | 2022-10-12 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese officials staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Sterling slipped 0.13% to $1.0947, and earlier touched $1.09385, marking a fresh low since Sept. 29, following the comments by the BoE governor. Gilt yields soared on Tuesday, lifting yields in the U.S. and elsewhere. The New Zealand dollar was 0.21% lower at $0.5570, approaching the previous day's low of $0.5536, a level not visited since March 2020.

Stocks fell Monday morning as a change to U.S. export policy hit semiconductor stocks. The Nasdaq Composite fell 0.84%, hitting a new two-year low, weighed down by a slump in semiconductor stocks such as Marvell Technology and Applied Materials, which both shed more than 5%. The S&P 500 also fell, dragged down by semi stocks and dips in major tech names Apple and Microsoft. New monthly Producer Price Index data comes Wednesday,Consumer Price Index data comes Thursday and retail sales will be released Friday. Still, the Dow, S&P 500 and Nasdaq had the first positive week in the last four.

☆ OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure
▼ + stars: | 2022-10-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Oil prices have fallen to roughly $80 from over $120 in early June amid growing fears about the prospect of a global economic recession. OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November. Energy market participants had expected OPEC+, which includes Saudi Arabia and Russia, to impose output cuts of somewhere between 500,000 barrels and 2 million barrels. Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession. "In short, OPEC+ is prioritising price above stability at a time of great uncertainty in the oil market."

☆ Bank of England statement on purchase of long-dated bonds
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +3 min

Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability. "In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for UK households and businesses. "To achieve this, the Bank will carry out temporary purchases of long-dated UK government bonds from 28 September. "On 28 September, the Bank of England’s Financial Policy Committee noted the risks to UK financial stability from dysfunction in the gilt market. "The Monetary Policy Committee has been informed of these temporary and targeted financial stability operations.

☆ Bank of England to buy 65 billion pounds of UK bonds to stem rout
▼ + stars: | 2022-09-28 | by ( David Milliken | ) www.reuters.com time to read: +4 min

Citing potential risks to UK financial stability, the BoE also said it would delay the start of a programme to sell down its 838 billion pounds ($891 billion) of government bond holdings, which had been due to begin next week. "Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability," the BoE said. "This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy." "There are schemes running out of cash at the moment," one pensions consultant said before the BoE intervention. The BoE's intervention reduced long-dated bond yields back to their level at the end of Friday - after the initial negative reaction to Kwarteng's statement - but shorter-dated yields were still higher.

☆ El-Erian says the Fed has made a 'policy mistake of historical proportions'
▼ + stars: | 2022-09-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Investors are paying the paying the price for the Federal Reserve's policy mistakes, according to Allianz economic advisor Mohamed El-Erian. "This is a two-part policy mistake of historical proportions," the former CEO of bond giant Pimco told CNBC's " Squawk Box " in a Monday interview. And now in the scramble to catch up, they are hiking aggressively into a strong economy, which will be phase two of the policy mistake." El-Erian spoke less than a week after the rate-setting Federal Open Market Committee approved its third consecutive 0.75 percentage point interest rate increase. "So we are going to have to navigate through this historical Fed policy mistake."

☆ Bitcoin falls below $19,000 as cryptos creak under rate hike risk
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Bitcoin , the biggest cryptocurrency by market value, fell about 5% to a three-month low of $18,387. read moreRepresentations of virtual currency Bitcoin are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration/File PhotoThe token's value has fallen amid some speculation that remarks last week from U.S. Securities and Exchange Commission Chairman Gary Gensler implied the new structure could attract extra regulation. "A lot of the hype has come out of the markets since the Merge," he said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Westbrook; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

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