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☆ Sell-off fizzles out ahead of Fed, ECB and BoE speeches
  + stars: | 2023-02-07 | by ( Marc Jones | ) www.reuters.com   time to read: +4 min
[1/2] The Federal Reserve building is seen in Washington, U.S., January 26, 2022. Then comes Federal Reserve Chairman Jerome Powell at the Economic Club of Washington during U.S. trading plus U.S. President Joe Biden's State of the Union address. DEADLY QUAKEAmong the main commodities, oil jumped for a second straight session driven by optimism about recovering demand in China, and after Monday's devastating earthquake in Turkey had shut down one of the region's major oil export terminals. "Equities have had a strong run since the start of the year so seeing an air pocket emerge now is no major surprise." Additional reporting by Scoot Murdoch in Sydney; Editing by Simon Cameron-Moore and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
☆ Asia stocks steady, dollar firm as investors consider higher rate outlook
  + stars: | 2023-02-07 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +4 min
Australia's S&P/ASX200 (.AXJO) was trading higher ahead of the Reserve Bank's decision but slid into negative territory after the official cash rate was raised by 25 basis points. Hong Kong's Hang Seng Index (.HSI) was trading 0.67% higher and China's bluechip CSI300 Index (.CSI300) was up 0.07%. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.4267% compared with a U.S. close of 4.456%. The repricing of higher rates began after strong U.S jobs growth in January, with employment rising 517,000, more than double economists expectations. The dollar index , which tracks the greenback against a basket of major trading partner currencies, was down marginally at 103.45 from its U.S. trading levels.
☆ Asia stocks steady, dollar strong as markets reassess rates outlook
  + stars: | 2023-02-07 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com   time to read: +3 min
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) bounced slightly 0.4%, after U.S. stocks ended the previous session with mild losses. Hong Kong's Hang Seng Index (.HSI) opened up 0.68% and China's bluechip CSI300 Index (.CSI300) was 0.3% higher in early trade. The repricing of higher rates began after strong U.S jobs growth in January, with employment rising 517,000, more than double economists expectations. The dollar index , which tracks the greenback against a basket of major trading partner currencies, was down marginally at 103.47 from its U.S. trading levels. Gold was slightly higher.
☆ Markets may be taking the wrong read from January's shocking jobs report
  + stars: | 2023-02-06 | by ( Jeff Cox | ) www.cnbc.com   time to read: +5 min
"The resounding strength of January employment report does not change our view of the labor market. Significant imbalances remain in the labor market due to too much excess demand and limited labor market slack," added Michael Gapen, chief U.S. economist at Bank of America. That's because they see the jobs report gain of 517,000 as a potential impetus to push the Fed into more aggressive interest rate hikes. He thinks future months will show a slowing labor market that will force the Fed into halting its hikes. "From a data-dependency perspective, the strength of the labor market suggests there might be need to continue to raise interest rates."
☆ 8 investments to make now as the Federal Reserve risks a recession by going 'way overboard' in raising interest rates, according to 7 top economists and strategists
  + stars: | 2023-02-02 | by ( James Faris | ) www.businessinsider.com   time to read: +8 min
Since March, Rosenberg has warned that by trying to crush inflation, the Fed would inadvertently kill the economy as well. "I think that the odds now are that it's going to be more severe than people think because the Fed has gone way overboard," Rosenberg said of a recession. The contrarian view: With inflation falling, a recession is no guaranteeHowever, not every strategist thinks that a recession is a sure thing. But what I think we can see is the Federal Reserve is overdoing it and eventually, the Fed will have to cut rates." Fittingly, Parker's bets are contingent on his view that the US economy won't suffer from a severe recession.
☆ Dow falls more than 300 points after Fed raises rates, sees 'ongoing' hikes
  + stars: | 2023-02-01 | 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 EmailDow falls more than 300 points after Fed raises rates, sees 'ongoing' hikesDavid Kelly of JPMorgan asset management, Jim Caron of Morgan Stanley Investment Management, and Cameron Dawson of NewEdge Wealth join 'The Exchange' to discuss the latest Fed rate decision.
☆ We expect Brent oil prices to be between $85 and $95 a barrel this year, says JPMorgan
  + stars: | 2023-01-30 | 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 EmailWe expect Brent oil prices to be between $85 and $95 a barrel this year, says JPMorganKerry Craig of JPMorgan Asset Management says unless China's economy sees "an absolute surge in growth," oil prices are unlikely to hit over $100 a barrel this year.
☆ It's great timing for the US's first immigration boost in years — but experts say Biden needs to reverse more Trump-era policies for the economy to feel the maximum effect
  + stars: | 2023-01-28 | by ( Jason Lalljee | Madison Hoff | ) www.businessinsider.com   time to read: +8 min
While net international migration in 2022 wasn't as high as in 2016 — the high point for immigration between 2010 to 2022 — it's still the highest since 2017. Additionally, the authors note that 2022 is the "first time net international migration increased since 2016." The US would have had about two million more immigrants if not for those policies, Insider estimated based on the average growth rate from 2011 to 2016 for net international migration. According to Peri, "the number of immigrants who can come in legally is constrained" by laws and procedures that haven't really changed. Since entering office, President Joe Biden has reversed a number of Trump's restrictive immigration policies, although a number of them are still in place.
☆ Watch CNBC's full interview with J.P. Morgan's Gabriela Santos
  + stars: | 2023-01-24 | 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 EmailWatch CNBC's full interview with J.P. Morgan's Gabriela SantosGabriela Santos, JPMorgan Asset Management global market strategist, joins CNBC's 'Squawk Box' to discuss her positioning breakdown, why the 60/40 portfolio is back, and more.
☆ JPMorgan's Gabriela Santos: This is the most optimistic we've been about bonds since 2010
  + stars: | 2023-01-24 | 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 EmailJPMorgan's Gabriela Santos: This is the most optimistic we've been about bonds since 2010Gabriela Santos, JPMorgan Asset Management global market strategist, joins CNBC's 'Squawk Box' to discuss her positioning breakdown, why the 60/40 portfolio is back, and more.
☆ Analysis: Bank of Japan's grit chills bond bears
  + stars: | 2023-01-20 | by ( Junko Fujita Tom Westbrook | Junko Fujita | Tom Westbrook | ) www.reuters.com   time to read: +5 min
SINGAPORE, Jan 20 (Reuters) - Japan's central bank appears to have scored an interim win in its long-drawn battle with bond bears. The Bank of Japan's (BOJ) policy meeting this week was, at first glance, a damp squib for excited markets. It maintained its cap on 10-year yields, defying market expectations for change, and modified a funds-supply operation such that it offers more money for longer tenors to banks. After Wednesday's decision to retain ultra-low rates, 10-year bond yields, which had been testing the BOJ's 0.5% cap for a week, settled below 0.4%, suggesting many speculators were closing positions. "Most people are concerned about market liquidity in the bond market," a senior trader at a global bank in Asia told Reuters.
☆ JPMorgan begins private lending drive with $10 billion - source
  + stars: | 2023-01-19 | by ( ) www.reuters.com   time to read: +1 min
Jan 19 (Reuters) - JPMorgan Chase & Co (JPM.N) has set aside at least $10 billion to back its foray into the world of direct lending, a person with knowledge of the matter told Reuters on Thursday. The Wall Street titan's move into the market is likely to put it head to head with established sector heavyweights such as Ares Management Corp (ARES.N) and Apollo Global Management (APO.N). Last week, JPMorgan Chief Financial Officer Jeremy Barnum told investors the bank was "absolutely open for business" in leveraged lending even as other U.S. banks are expected to book significant losses on risky loans underwritten last year. JPMorgan Asset Management has in recent years separately expanded its private credit platform unit, which targets opportunities in the direct lending segment, with plans to expand into other private credit strategies in the future. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ As crypto hackers and thieves make off with billions, there's another kind of fraud lurking in the industry.
  + stars: | 2023-01-17 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
I'm sorry to say when you dig deeper into the practices of opaque crypto exchanges, there's little to restore that faith. Timothy Cradle, director of regulatory affairs at Blockchain Intelligence, told Insider that wash trading is market manipulation. NBER researchers estimated that wash trading comprises nearly half of all transactions on Binance, the world's largest crypto exchange by volume. Similarly, KuCoin, another top-five crypto exchange, was estimated to have 52.9% of its transactions consist of wash trading (which the company denied). Are you surprised that the researchers found wash trading to be so rampant a practice?
☆ US stocks close mixed as Dow dives nearly 400 points on weak Goldman Sachs earnings
  + stars: | 2023-01-17 | by ( Brian Evans | ) www.businessinsider.com   time to read: +2 min
Goldman Sachs missed fourth-quarter estimates, while Morgan Stanley exceeded expectations. The New York Fed's Empire State Manufacturing Index declined nearly 22 points to -32.9, the lowest reading in nearly two years. Goldman Sachs contributed most to the market's sour sentiment, with the firm missing fourth-quarter expectations and weighing heavily on the Dow. Morgan Stanley reported better-than-expected earnings. Early Tuesday, the New York Fed's Empire State Manufacturing Index declined nearly 22 points to -32.9, the lowest reading in nearly two years.
☆ The Fed has won its war against inflation and needs to end its interest-rate increases, says JPMorgan Asset Management's investment chief
  + stars: | 2023-01-13 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
The Fed can claim victory in its war against inflation and needs to stop hiking interest rates, according to JPMorgan's David Kelly. This is a war that they've won, and they're in danger of tipping the economy into recession," he said. Kelly expects three consecutive rate increases of 25 basis points each by May and sees borrowing costs staying there till year-end. This is a war that they've won, and they're in danger of tipping the economy into recession. I think they're making the fiscal problem worse, so I wish they would be done," Kelly said.
☆ Watch CNBC's full interview with JPMorgan's Meera Pandit and Stifel's Lindsey Piegza
  + stars: | 2023-01-12 | 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 EmailWatch CNBC's full interview with JPMorgan's Meera Pandit and Stifel's Lindsey PiegzaMeera Pandit, JPMorgan Asset Management global market strategist, and Lindsey Piegza, Stifel chief economist, join CNBC's 'Squawk Box' to discuss CPI expectations, Fed policy outcomes, and market indicators.
☆ The market doesn't necessarily seem to be set up for a severe recession, says Meera Pandit
  + stars: | 2023-01-12 | 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 EmailThe market doesn't necessarily seem to be set up for a severe recession, says Meera PanditMeera Pandit, JPMorgan Asset Management global market strategist, and Lindsey Piegza, Stifel chief economist, join CNBC's 'Squawk Box' to discuss CPI expectations, Fed policy outcomes, and market indicators.
☆ Don't snap up stocks just yet – but stay alert as the Fed could soon spark a rally by wrapping up its rate-hiking campaign, a JPMorgan strategist says
  + stars: | 2023-01-12 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
Investors shouldn't pile into stocks yet — but should be ready to jump in, a JPMorgan strategist said. "We think they're close to wrapping it up, thank goodness," Phil Camporeale told CNBC Wednesday. Camporeale told CNBC's "Closing Bell" on Wednesday. But the bank is readying itself for any potential Fed-fueled rally by snapping up call options on some S&P 500 stocks, Camporeale said. "Right now we're long some calls on the S&P," Camporeale told CNBC.
☆ The Fed is close to pausing, says JPMorgan's Phil Camporeale
  + stars: | 2023-01-11 | 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 EmailThe Fed is close to pausing, says JPMorgan's Phil CamporealePhil Camporeale, JPMorgan Asset Management portfolio manager, joins 'Closing Bell' to discuss his positioning in the market and his belief that the Fed will soon pause rate hikes.
☆ Watch CNBC’s full interview with JPMorgan Asset Management's Phil Camporeale
  + stars: | 2023-01-11 | 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 EmailWatch CNBC’s full interview with JPMorgan Asset Management's Phil CamporealePhil Camporeale, JPMorgan Asset Management portfolio manager, joins 'Closing Bell' to discuss his positioning in the market with his belief that the Fed will pause soon.
☆ ETF edge with JPMorgan's Hamilton Reiner
  + stars: | 2023-01-09 | 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 EmailETF edge with JPMorgan's Hamilton ReinerHamilton Reiner, JPMorgan asset manager, joins the 'Halftime Report' to discuss active management of ETFs, the importance of fundamentals for fund managers and the potential for a soft landing.
☆ Thought last year was bad for crypto? From FTX to Silvergate, the red flags are flying for the year ahead.
  + stars: | 2023-01-06 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
Those realizations came to head repeatedly in 2022 as crypto hacks and a wintry bear market crescendoed with the collapse of Sam Bankman-Fried's FTX. On a macro level, persistent recession fears make speculative assets such as tokens or tech stocks less enticing. More notable is crypto bank Silvergate's nearly 50% plunge Thursday, and the company's announcement it would cut 40% of its staff. Job cuts at Amazon and Salesforce signal the first necessary step in staging a turnaround for tech stocks. All told, analysts predict layoffs could catalyze a 20% rally for tech stocks in 2023.
☆ Stocks advance, U.S. dollar retreats as China drops quarantine rule
  + stars: | 2022-12-27 | by ( Xie Yu | ) www.reuters.com   time to read: +4 min
China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday. It will also downgrade the seriousness of COVID-19 as it has become less virulent and will gradually evolve into a common respiratory infection. read moreBy Tuesday morning in Hong Kong, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.5%. China's bluechip gained 0.6% and Japan's Nikkei stock index (.N225) rose 0.43%. The dollar moved broadly lower on Tuesday while Australia's and New Zealand's currencies jumped as risk appetite grew after China scrapped its quarantine rule.
☆ There's at least one big name investor who won't be fighting the Fed next year.
  + stars: | 2022-12-23 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
As if this year didn't bring us enough bad news in the market, there's a steady chance 2023 brings more of the same. But Saint Nick's absence isn't the elephant in the room for markets — it's the Fed. Billionaire hedge fund manager David Tepper said he's "leaning short" on the stock market as the calendar changes. In a bid to squash decades-high inflation, this year the Fed has embarked on a historic interest rate-hiking campaign. "What the forwards in the Fed Funds futures are telling us is that it's increasing the probability that there's going to be a recession at some point," Caron said in a Bloomberg interview.
☆ Is the US in a recession? Not yet, but experts think we could be in one soon.
  + stars: | 2022-12-22 | by ( Madison Hoff | ) www.businessinsider.com   time to read: +9 min
Scott Kirby, CEO of United Airlines, told CNBC that there could be a "mild recession induced by the Fed." Here's what experts are saying about a recession in 2023Some Wall Street experts and economists think the US could avoid a recession next year, and that even if one comes, it will likely not be as severe as the downturns after the 2008 financial crisis and the early Covid pandemic. As Insider's Brian Evans reported, economists at Bank of America think there will be a mild recession too. While some think a recession is on the horizon, there's a chance that the US may not enter one at all. "I think we would need to see a significant deterioration in the labor market for me to think we're in a recession, and we have not seen any significant deterioration yet," Bunker said.
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