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☆ 'Pulling a Joe Biden': Reactions to Japanese Prime Minister Fumio Kishida's resignation
▼ + stars: | 2024-08-14 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Japan's Prime Minister Fumio Kishida speaks to reporters following North Korea's missile launch on April 13, 2023. JIJI Press | AFP | Getty ImagesJapanese Prime Minister Fumio Kishida is stepping down in September, a move that sparked a broad range of reactions from government officials and analysts. Still, Izumi thanked Kishida for his hard work, adding "Prime Minister Kishida, you must have been under a lot of pressure." "The prime minister is a true friend of the United States and Japan has become a true global partner for America," U.S. "I pay tribute to my friend Prime Minister Fumio Kishida.

Persons: Fumio Kishida, Japan's, Kishida, Joe Biden, he's, William Pesek, Biden, Izumi, Japan Rahm Emanuel, Kishida's, Emanuel, Anthony Albanese, Japan Shihab Alfaheem, Amir Anvarzadeh Organizations: Japan's, JIJI Press, AFP, Getty, Liberal Democratic Party, Constitutional Democratic Party of Japan, LDP, Japan, America, U.S, Alliance, Australian, Asymmetric Advisors Locations: United States, Japan, Australia

☆ JPMorgan's guide to trading two huge economic reports this week
▼ + stars: | 2024-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

On Thursday, traders get the latest reading on the state of the consumer with retail sales data for July. Hot CPI and inline retail sales (up 0.1% to 0.5%) — JPM believes that a hot CPI print and retail sales matching expectations could fuel "stagflation risks." Expect the S & P 500 to gain and Nasdaq and Russell to perform similarly. Inline CPI and cool retail sales — How much equities move in this outcome depends on the magnitude of the downside surprise in retail sales. In this scenario, traders expect a broadening in the market that includes the S & P 500 gaining.

Persons: Dow Jones, Jerome Powell, Jackson, — JPM, Russell, JPM Organizations: Federal, JPMorgan, CPI, Wall, Federal Reserve, Bank of, Nasdaq, Russell

☆ Japan to benefit from a stronger yen and unwinding of carry trade, Monex Group's Koll says
▼ + stars: | 2024-08-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225

Persons: Jesper Koll, …, CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S

☆ Podcast: Japan's quest for the most powerful microchip leads semiconductor revival
▼ + stars: | 2024-08-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +25 min

At the end of [the] 1980s, Japanese companies accounted for like 51% of the global semiconductor market. So by doing this ... one thing undercut Japanese semiconductor chip makers' competitiveness in the global market. Another thing [is] that [it] forced open [the] Japanese semiconductor market to foreign players, and this creates opportunity for the U.S., South Korea and Taiwan. And Japanese companies are trying to both develop their own capacity but also attract phone companies to establish fabs there. So by collaborating with international companies, Japanese companies can leverage their existing technology and manufacturing techniques to expand their global share as well.

Persons: Tom Chitty, Fei Xue, Tom Chitty Well, Arjun, Kharpal Fei, Reagan, Arjun Kharpal, Fei, it's, TSMC, Fei Xue Yes, Rapidus, Arjun Kharpal Fei, they're, there's, ASML, you've, He'd, Tom Chitty Fei, Arjun Arjun Kharpal, Tom, Tom Chitty We'll Organizations: TSMC, Rapidus Corporation, Samsung, Economist Intelligence Unit, Economist Intelligence, The Economist, Economist, East, International Relations, U.S, U.S ., Taiwan Semiconductor Manufacturing, IBM, Apple, EV, Japan, Nvidia, Micron, Sony, Nintendo, Canon, South, Samsung Electronics, Tokyo, Screen Holdings Locations: Japan, Taiwan, U.S, Netherlands, Tokyo, beyondthevalley@cnbc.com, East Asia, Fei Xue Japan, South Korea, Japan's, Kyushu, Kumamoto Prefecture, TSMC, That's, China, Kumamoto

☆ The big ‘carry trade’ unwind is far from over, strategists warn
▼ + stars: | 2024-08-13 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

watch nowEconomists have said it is difficult to accurately assess the scale of the yen carry trade, with estimates varying widely. Some analysts, using Japan's foreign portfolio investments, say the yen carry trade could total as much as $4 trillion, Reuters reported. "The real Japan strategy is not just a quick carry trade, borrowing at close to zero interest rates in Japan and investing in high yield assets. Analysts at Barclays said systematic selling pressure does not appear to have been exhausted yet and it's "too early" to call an all-clear to the carry trades unwind. We expect volatility to remain elevated, which should continue to hurt EM carry trades," the analysts at Barclays said in a research note published Sunday.

Persons: Kazuhiro Nogi, Richard Kelly, he'd, Kelly, CNBC's, Nogi, Jesper Koll, Koll, What's Organizations: Tokyo Stock Exchange, Afp, Getty, Bank of Japan, TD Securities, Reuters, TS Lombard, Bank of, The Bank of Japan, Federal Reserve, Monex, Barclays Locations: Tokyo, Japan, MEX, Brazil, Bank of Japan, U.S

Tokyo CNN —Japanese Prime Minister Fumio Kishida will not run for a second term as leader of the long-ruling Liberal Democratic Party (LDP) next month following a series of political scandals that have fueled calls for him to resign. The most obvious first step, to show that the LDP will change, is for me to step aside,” he said. Concerns about Japan’s economy, including the weakening of the yen against the US dollar, have also undermined confidence in Kishida’s economic policies. He had previously denied he would step down as party leader despite public criticism and sinking disapproval ratings. His decision to quit comes a month before LDP elections are slated, with the date in September yet to be announced.

Persons: Fumio Kishida, Kishida, ”, “, Joe Biden’s Organizations: Tokyo CNN, Japanese, Liberal Democratic Party, LDP, . Locations: Japan, Kishida, Ukraine

☆ U.S. and China fight to 40-40 draw for most Olympic gold medals
▼ + stars: | 2024-08-12 | by ( David K. Li | Sean Nevin | ) www.cnbc.com time to read: +4 min

Cameron Spencer | Getty ImagesThe U.S. and China each won 40 gold medals in the first Summer Games draw in Olympic history, with the Americans pulling into a tie Sunday with victory in the last event, women's basketball. China's Li Wenwen won gold in women's heavyweight weightlifting in what could have been a death knell for American hopes to capture overall gold. U.S. hopes were dimmed further when Chicago native Kennedy Blades, who made a surprising run to the gold medal wrestling match, lost to 76-kg rival Yuka Kagami of Japan. Gold medalist Simone Biles of Team USA poses during the artistic gymnastics women's all-around final medal ceremony on Aug. 1. Patrick Smith | Getty Images Sport | Getty Images

Persons: Cameron Spencer, China's Li Wenwen, Yuka Kagami, Jennifer Valente, Noah Lyles, Breanna Stewart, Cheryl Reeve wryly, hasn't, Simone Biles, Tom Weller, voigt, Anastasiia Kirpichnikova, Katie Ledecky, Isabel Gose, Quinn Rooney, Lee Kiefer, Lauren Scruggs, Eleanor Harvey of Canada, Patrick Smith Organizations: Eiffel, Rings, Olympic Games, Getty, U.S, France, China, Chicago, Kennedy Blades, Team USA, USA, WNBA, didn't, Summer, " Unified, Soviet, Games Locations: Paris, France, China, U.S, Japan, Italy, San Diego, Beijing, Norway, Germany, Soviet Union, Barcelona, Tokyo, Rio, London

☆ Nankei Trough advisory: Japan is bracing for a once-in-a-century earthquake. Does it need to?
▼ + stars: | 2024-08-12 | by ( Jessie Yeung | Hanako Montgomery | ) edition.cnn.com time to read: +11 min

A special committee warned that another “major earthquake” could hit in the coming week – the first time in its history the body had issued this type of nationwide advisory. Then there’s the looming threat of the Nankai Trough megathrust earthquake – the most powerful of its kind, with magnitudes that can exceed 9. Japan’s government has warned of the possible Nankai Trough quake for so many years that the possibility of it occurring has become common knowledge. The ‘big one’The Nankai Trough is a 700-kilometer long (435-mile) subduction zone, which refers to when tectonic plates slip beneath each other. “I tell (my students), the Nankai Trough earthquake will definitely come, whether it’s your generation or your children’s generation,” he said.

Persons: ”, Shoichi Yoshioka, ” Yoshioka, Kim Jae, it’s, “, Robert Geller, It’s, Yoshioka, Geller, ” Geller, Yota, Mashiro Ogawa, Megumi Sugimoto, “ It’s, Shuhei Yokoyama, there’s, Sugimoto Organizations: Tokyo CNN, Japan’s Kobe University, “, Residents, Getty, government’s Earthquake Research, Kobe University, University of Tokyo, Asahi Shimbun, Osaka University Locations: Japan, Europe, United States, Ishinomaki, Miyagi prefecture, AFP, Nankai, Philippine, Tokyo, Noto Peninsula, Wajima City, Noto, Fukuoka, Kyushu, Kumamoto

☆ Yen slips, markets brace for U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +3 min

Last week ended calmer, with Thursday's stronger-than-expected U.S. jobs data leading markets to pare bets for Federal Reserve interest rate cuts this year. "It's more a case of market squaring up a little bit ahead of the U.S. inflation data," said Christopher Wong, currency strategist at OCBC Bank in Singapore. The dollar was trading at 146.87 yen , up 0.2% from late U.S. levels on Friday. The Aussie was barely up at $0.6577 on Monday, while the New Zealand dollar stayed below last week's three-week high of $0.6035. Implied volatility on the yen, measured in yen options, has also subsided.

Persons: Bank of Japan's hawkishness, Jackson, Christopher Wong, J.P, Morgan Organizations: Bank of Japan's, Federal Reserve, Nvidia, OCBC Bank, New Zealand, Reserve Bank of New, Bank, Japan, U.S . Commodity Futures Trading Commission Locations: U.S, Singapore, Reserve Bank of New Zealand

☆ U.S. crude oil rises a fifth day, tops $77 per barrel, as Pentagon sends more forces to Middle East
▼ + stars: | 2024-08-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil topped $77 per barrel on Monday, rising for the fifth day as the Pentagon dispatched more forces to the Middle East in anticipation of an Iranian attack on Israel. Defense Secretary Lloyd Austin ordered a carrier strike group, including F-35 warplanes, to accelerate its deployment to the region. Austin also ordered a guided-missile submarine to the Middle East. Here are Monday's energy prices:Israel has been preparing for strikes by Iran and the Hezbollah militia for nearly two weeks, after the assassination of a Hamas leader in Tehran. U.S. crude oil is trading higher even as OPEC lowered its global demand growth forecast by 135,000 barrels per day, citing softening consumption in China.

Persons: Lloyd Austin, Austin, Phil Flynn Organizations: Pentagon, Israel . Defense, UBS, Price Futures Group, Bank of Japan Locations: Israel, Iran, Tehran, China

☆ Jim Cramer examines triggers for last week's 'opaque' sell-off
▼ + stars: | 2024-08-12 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday reviewed what could have lead to last week's massive sell-off, telling investors the declines may have been facilitated by failed market strategies from larger institutions. Japan's stock market also declined sharply, with the Nikkei seeing its worst day since the "Black Monday" crash of 1987. To Cramer, last week's declines might have been caused by money managers from a variety of firms who used Japan's low interest rates to borrow money an invest in other global assets. "We've had so many sell-offs based on mistaken strategies by large institutions," Cramer said. "Let's remember last Monday's selloff and consider that it might've been about nothing more than flailing money managers, which is often the case with these big market meltdowns."

Persons: CNBC's Jim Cramer, Cramer, We've, selloff Organizations: Dow Jones, Nikkei, Bank of Japan

PARIS — The United States and China each won 40 gold medals, in the first Summer Games draw in Olympics history, with America pulling into a tie Sunday with victory in the last event, women’s basketball. But then San Diego native and decorated cyclist Jennifer Valente bailed out the United States by defending her gold in the women’s omnium. Gold medalist Noah Lyles of Team United States celebrates on the podium during the Men's 100m medal ceremony at the Olympics in Paris, on Aug. 5, 2024. The United States still came out with the most overall medals, taking home 126 from Paris 2024. The United States hasn’t failed at winning the most medals since 1992 when the “Unified Team,” athletes from the former Soviet Union republics, won 112 medals, 45 gold.

Persons: China’s Li Wenwen, could’ve, Yuka Kagami, Jennifer Valente, Noah Lyles, Cameron Spencer, United States hasn’t, Simone Biles, Jamie Squire, France's Anastasiia, Katie Ledecky, Germany's Isabel Gose, Jonathan Nackstrand, Frenchman Leon Marchand, Summer McIntosh, Lee Kiefer of, Lauren Scruggs, Eleanor Harvey, Patrick Smith, David K, Li, Sean Nevin Organizations: PARIS, America, France, Chicago, Kennedy Blades, Team United, States didn't, United, “ Unified, Soviet, Olympic Games, Bercy Arena, Getty, Paris La Defense, Lee Kiefer of Team United States, Team United States, Team Canada, Grand Palais Locations: United States, China, Japan, Italy, San Diego, Paris, U.S, States, Beijing, Norway, Germany, Soviet Union, Barcelona, Tokyo, Rio, London, Nanterre, AFP, Grand, France, Israel, Ecuador, Kyrgyzstan, Republic of Moldova, Soviet Republic

☆ How Warren Buffett's big Japanese investments fared in the global market rout
▼ + stars: | 2024-08-11 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

This week's violent global market meltdown started in Japan — where Warren Buffett has big investments — but the damage was limited. The Nikkei 225 index , a benchmark for Japanese stocks, plunged 12.4% on Monday, its worst day since "Black Monday" in 1987, triggering a domino effect globally. The stocks Buffett holds cratered as much as 30% initially, but bounced back by the end of the week along with the broader market. The Japanese trading houses also reported second-quarter earnings earlier this week, mostly exceeding analyst expectations and maintaining their full-year guidance. Away from Japan, Buffett was in a selling mood in the second quarter.

Persons: Warren Buffett, Buffett, Berkshire Hathaway, Buffett's, it's Organizations: Bank of Japan, Berkshire, Mitsubishi, Mitsui, Sumitomo —, Sumitomo, Tokyo Stock Exchange, Apple, Buffett Locations: Japan, Omaha, Berkshire

☆ China stocks escaped much of the latest sell-off. Signals for whether to buy
▼ + stars: | 2024-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The latest global market volatility has reinforced China's status as a distinct market, even if its growth has slowed recently. While U.S. tech stocks plunged and Japanese stocks swung wildly in a historic two days of price action , Chinese stocks suffered less . The investors remained net buyers of Chinese stocks for the third quarter so far as of Aug. 6, the data showed. Finally, the low correlation of the China stock market with the U.S. stock market could provide investors with diversification benefits." Chinese stocks, especially those traded on the mainland, have historically been less correlated to global market moves due to Beijing's capital controls and other restrictions.

Persons: Matt Wacher, William Yuen, Invesco, That's, Steven Sun, Paul Christopher, Morningstar's Wacher, it's, Wacher Organizations: Nasdaq, Nikkei, Morningstar Investment Management, U.S, HSBC, Technology, Shanghai —, Bank of, Federal Reserve, Treasury, HSBC Qianhai Securities, National Bureau, Statistics, Wells, Wells Fargo Investment Institute, Index Locations: Asia, U.S, Shanghai, China, Pacific, EPFR, Hong Kong, Bank of China, Wells Fargo

☆ Recession Fears Are Fueling Stock Market Crash, Wall Street Chaos
▼ + stars: | 2024-08-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.

Persons: —, Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico

☆ Why Japan issued its first-ever 'megaquake advisory' — and what that means
▼ + stars: | 2024-08-10 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

The Summary Japan’s meteorological agency on Thursday issued its first-ever “megaquake advisory.”The warning followed a 7.1-magnitude earthquake off the country’s southern coast. Subduction zone faults build stress, and a so-called megathrust earthquake takes place when a locked fault slips and releases that stress. In the U.S., the Cascadia subduction zone off the West Coast runs from Vancouver Island, Canada, to Cape Mendocino, California. A beach is closed in Nichinan in southwestern Japan on Friday, after the country's issued its first warning about a possible megaquake. Large Nankai Trough earthquakes tend to come in pairs, with the second often rupturing in the subsequent two years.

Persons: AP Harold Tobin, “, ” Tobin Organizations: Philippine, West Coast, Kyodo, Reuters, Japan’s Earthquake Research, United States Geological Survey, AP, University of Washington Locations: Nankai, Japan, U.S, Cascadia, Vancouver Island, Canada, Cape Mendocino , California, Nichinan, Miyazaki

☆ Markets just had the most volatile week since the pandemic outbreak — What we learned
▼ + stars: | 2024-08-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

A wild week of trading on Wall Street ended with the S & P 500 back roughly where it started, but the lessons learned by whipsawed investors over those five days could determine what happens next. The S & P 500 had its worst day since 2022 on Monday, and then its best since 2022 on Thursday. But with the S & P 500 ending the week down less than 0.1% in a calm session on Friday, the market seems to have stabilized. .SPX 5D mountain The S & P 500 finished the week nearly flat. And I think that has to do with investors really being a little bit skeptical about some of this equity market volatility."

Persons: Tim Hayes, Ned Davis, Gennadiy Goldberg, didn't, Jeremy Schwartz, Peter Berezin, aren't, Wellington, Frank Gretz, RJ O'Brien, Tom Fitzpatrick, Fitzpatrick Organizations: Wall, Treasury, Ned, Ned Davis Research, TD Securities, CNBC, Japan —, Nikkei, Bank of Japan, BCA Research, Wellington Shields, Associates Locations: Japan

☆ Activist Oasis suggests three steps to build shareholder value at embattled Kobayashi Pharmaceutical
▼ + stars: | 2024-08-10 | by ( Kenneth Squire | ) www.cnbc.com time to read: +9 min

Activist Commentary: Oasis Management is a global hedge fund management firm headquartered in Hong Kong with additional offices in Tokyo and Austin, Texas, as well as the Cayman Islands. Kobayashi Pharmaceutical is a Japan-based pharmaceuticals and consumer products company. It would imbue the company with a sense of urgency to improve operational performance, corporate governance and shareholder value maximization. But that is also a long shot, even at a company with corporate governance issues as we have here. The firm is a top-tier Japan shareholder activist and if anyone can get board seats in Japan, it is Oasis.

Persons: Seth Fischer, Oasis, Kobayashi, Akihiro Kobayashi, Kazumasa Kobayashi, Satoshi Yamane, Ken Squire Organizations: Kobayashi Pharmaceutical, Business, Company, Oasis Management, Oasis, Ain Holdings, Kobayashi's, Tsuruha Holdings, Kao Corp, Taisho Pharmaceutical Holdings, 13D Locations: Japan, Hong Kong, Tokyo, Austin , Texas, Cayman Islands, Asia, Europe, Kobayashi, Hokuetsu, Ain

☆ The latest stock market crash wasn't a fluke, and it signals more trouble coming for the economy, investor Mark Mobius says
▼ + stars: | 2024-08-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The recent sell-off in stocks could be a warning sign for what's coming for the economy, Mark Mobius said. If you look at the money supply growth in America, it is very low now," he said. We have more problems in the US and, that will affect the global situation unless the money supply is increased much more than it is now." Disruptions in the stock market are usually the signal "before the actual economic effects are seen," he added. A full-fledged bear market is unlikely, Bank of America said, as the market isn't flashing technical signals that would suggest a peak in stock prices.

Persons: Mark Mobius, Mobius, —, Monday's, Stocks Organizations: Economic, Service, Mobius Capital, Bank of Japan, Economic Times, Fed, Bank of America Locations: Japan, America

☆ A Head-Spinning Debut
▼ + stars: | 2024-08-10 | by ( Jonathan Abrams | ) www.nytimes.com time to read: +1 min

Breaking is a new sport at this year’s Summer Olympics — at least we’ll call it a sport for the sake of the Games. You probably know it as break dancing, the art form in which performers spin, pose, glide and dance across the floor with incredible athleticism and charisma. The event debuted yesterday in Paris with the women’s, or B-Girls’, competition. Ami Yuasa of Japan, known as B-Girl Ami, bested Lithuania’s Dominika Banevic, or B-Girl Nicka, to win breaking’s first gold medal. The dance spread nationally and globally through movies like “Beat Street” and pioneering crews providing demonstrations in countries like Japan and England.

Persons: Ami Yuasa, Ami, Lithuania’s Dominika, I’ll, Red Bull Organizations: Red Locations: Paris, Japan, New York, England, Europe

☆ Tamirat Tola wins captivating Olympic marathon for Ethiopia
▼ + stars: | 2024-08-10 | by ( Matthew Futterman | ) www.nytimes.com time to read: +6 min

Tola surged clear and never looked back (Cameron Spencer/Getty Images)After letting the little-known Eyob Faniel of Italy lead for most of the first half of the race, Tola made his first move just before the halfway mark. Tola crossed the line an Olympic record time (Andrej Isakovic/AFP via Getty Images)Most remarkably, Tola didn’t even make the Ethiopian team originally. “I trained hard so I could win,” Tola said. Even his compatriot, Kenenisa Bekele, one of the most decorated Ethiopian distance runners but at 42 nearing the end of his career, was gushing after finishing 39th. “Not easy to win the Olympic Games,” he said, in perhaps the understatement of the past two weeks in Paris.

Persons: Tamirat Tola, Tola, Cameron Spencer, ”, Bikila, Bikele, Belgium’s Bashir Abdi, Kenya’s Benson Kipruto, Eliud, victoire appartient, Napoleon, Roland Garros, Andrej Isakovic, Tola didn’t, “, ” Tola, Connor Mantz, Akira Akasaki, ” Mantz, Clayton Young, Abdi, Kenenisa Bekele, ” Bekele, Denisa Geleta, Kipruto Organizations: “, East, Getty, Ethiopian, Boston Marathon, Olympic Locations: Ethiopia, Invalides, Paris, Versailles, Eugene , Ore, New York, Italy, Rome, Tokyo, Kenya, AFP, Japan

☆ The hedge fund trade unwind that jolted Wall Street this week may continue to agitate markets
▼ + stars: | 2024-08-09 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The recent unwinding of the yen "carry trade" could remain a long-term headwind amid already turbulent markets. JPY= YTD mountain The Japanese yen's appreciation against the U.S. dollar marked the unwinding of the so-called carry trade. "There's still quite a significant yen short position out there," Osborne said. He estimates that there is still a roughly $15 billion yen short position through July 30, still to be covered. In other words, that short position could drive more strength in the yen as that position is covered.

Persons: —, Shaun Osborne, Osborne, Everyone's, Rob Ginsberg, Ginsberg, FedWatch, Ben Emons Organizations: Bank of, U.S, Scotiabank, U.S . Federal Reserve, Bloomberg, Wolfe Research, Swiss Locations: Bank of Japan, Japan

☆ Markets saw a massive shift this week. Here’s what happened
▼ + stars: | 2024-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —After a prolonged period of calm, financial markets went into a tailspin this week. One trigger for the selloff was the unraveling of the Japanese yen carry trade. Some investors say there could be more volatility to come, particularly since it’s unclear how much more the yen carry trade could unwind. The carry trade is “enormous. The unwinding of the carry trade and weak labor data came at a delicate time rife with uncertainty for Wall Street.

Persons: Wharton, Jeremy Siegel, Siegel, ”, Steve Sosnick, Joe Biden, Donald Trump, Dow, Liz Young Thomas Organizations: New, New York CNN, Nikkei, Dow, Nasdaq, Bank of Japan, Companies, Federal Reserve, Investors, CNBC, Interactive Brokers, Markets, Republican, Home Depot, Walmart Locations: New York, Israel, Ukraine, Russia

☆ Wall Street will get key insight on the consumer, inflation in the week ahead as recession fears swirl
▼ + stars: | 2024-08-09 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The wildest week of 2024 has investors bracing for more volatility in the week ahead, with key insight on the consumer and inflation coming at a time when recession fears are top of mind. Inflation, labor data Next week's inflation data could get less attention than it has over the past year when the Fed's fight against pricing pressures put inflation reports on center stage. Recently, it's been the labor market getting the most attention. "The market's caring much more about about labor markets and growth, than they do inflation right now," Ladner said. Week ahead calendar All times ET Monday, Aug. 12 2 p.m. Treasury Budget (July) Tuesday, Aug. 13 8:30 a.m. Producer Price Index (July) Earnings: Home Depot Wednesday, Aug. 14 8:30 a.m. Consumer Price Index (July) 8:30 a.m.

Persons: Scott Ladner, it's, Ladner, —, Strategas, Ryan Grabinski, RJ Assaly, Jeremy Siegel, Chen Zhao, Zhao, Price Organizations: Federal, Walmart, Home, Horizon Investments, Bank of Japan, Wharton, Fed, UBS, Investments, Treasury Budget, Price, Philadelphia Fed, Retail, Manufacturing, Materials, Tapestry, Deere, Co, Housing Locations: U.S, NAHB, Michigan

☆ Dollar gains after U.S. jobless claims fall more than expected
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The dollar rose on Thursday after new U.S. labor market data showed that unemployment benefits fell more than expected last week, easing fears of an imminent recession. Initial jobless claims fell to a seasonally adjusted 233,000 for the week ended Aug. 3, the Labor Department said on Thursday, suggesting fears that the labor market is unraveling were overblown. The sharp moves in the yen pushed the dollar index, which measures the U.S. currency against six others, including the yen, to a weekly high, before backing off. The Australian dollar rose 1.12% to $0.659, while the New Zealand dollar was up 0.25% at $0.601.

Persons: Shinichi Uchida, Eugene Epstein, Uchida, Marc Chandler, Jerome Powell, Vasu Menon, bitcoin, Ether Organizations: Labor Department, Bank of Japan's, Bannockburn Global Forex, U.S . Federal, Swiss, New Zealand Locations: Kawasaki, Japan, North America, Moneycorp, ., Bannockburn

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