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☆ ‘Very little fear' in market ahead of CPI report, CBOE’S Mandy Xu finds
▼ + stars: | 2024-05-13 | 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 Email‘Very little fear' in market ahead of CPI report, CBOE’S Mandy Xu findsMandy Xu, CBOE, joins 'Fast Money' to talk volatility in the market and upcoming inflation read.

Persons: Mandy Xu Organizations: CPI

☆ From Wall Street to Chicago, why stock exchanges ring bells
▼ + stars: | 2024-03-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +9 min

New York CNN —The New York Stock Exchange opens every workday morning at 9:30 am ET with the fast-paced bang-clang of a gleaming brass bell. The stock exchange, the largest in the world by market capitalization, has opened with sonic fanfare for more than 150 years. From Wall Street to the Nasdaq Exchange in Times Square to the Chicago Board Options Exchange, loud, ringing bells bookend each trading session. Stock exchanges say that the bell ringing remains both a critical guide and a ceremony that celebrates the market’s resilience through devastating lows and exuberant highs. The stock exchange had been closed since two hijacked commercial airliners were deliberately crashed into the World Trade Center's twin towers on September 11.

Persons: there’s, ”, Peter Asch, Reagan, Ronald Reagan, Serena Williams, Nelson Mandela, Richard Grasso, Henny Ray Abrams, David Howson, Scott Olson, Howson, Mark McCooey, Morgan Stanley, ” McCooey, Karen Snow, Brendan McDermid, Barbie, Barbie ”, “, Chris Hondros, Trudi Wagner, Wagner, Ronald Moser, Wagner That’s, Goldman Sachs, ” Wagner Organizations: New, New York CNN, The New York Stock Exchange, Nasdaq Exchange, Exchange, New York Stock Exchange, Jersey Shore, NYSE, Former South African, Getty, Cboe, yanks, Nasdaq, Microsoft, UN, United Nations, Bell, Warner Bros, Warner Bros ., World Trade Center, Trade Center, United, New York Stock, Trade, Dow Jones Locations: New York, Chicago, Jersey, Asch, AFP, York, Chicago , Illinois, New York City, America, United States, New Jersey, Manhattan, Charleston , South Carolina

☆ Central bank blunders undermine tough rate talk
▼ + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.

Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, –, Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central

☆ Bank of England drags Bagehot into the shadows
▼ + stars: | 2023-12-01 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

That is no longer tenable, in part because of reforms to bank regulation that shifted activity from traditional lenders to financial market players. These days, the institutions in need of urgent liquidity are just as likely to be pension funds, insurers or hedge funds. The British central bank’s initial ideas make sense, but only solve part of the problem. The central bank can short-circuit the panic by opening the credit taps. Central banks are only just starting to grapple with what it means to be a lender of last resort in that context.

Persons: Walter Bagehot’s, Andrew Hauser, BoE, WALTER, Gurney, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Bank of England, Reuters Graphics Reuters, U.S, Treasury, Federal Reserve, Pensions, . Treasury, Citadel, Millennium Management, City of, U.S . Federal, Gurney & Company, Victorian, Thomson Locations: British, City, City of London, Basel, Overend, Lombard

☆ Stock Market Today: Dow Opens Slightly Higher; PPD Stock, Gold Price in Focus
▼ + stars: | 2023-11-28 | by ( ) www.wsj.com time to read: +1 min

But the IPO market is heating up: Fast-fashion giant Shein filed Monday for what could be one of the biggest market debuts in years. The S&P 500 and the Nasdaq Composite were modestly higher, while the Dow industrials rose 0.3%. Benchmark Treasury yields slipped. Oil prices rose. U.S. home prices rose in September.

Persons: Shein, Carlyle Organizations: OPEC, Nasdaq, Dow, Micron, Treasury, Brent

☆ Strong pay growth in UK spreads to public sector, survey shows
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Afolabi Sotunde/file photo Acquire Licensing RightsLONDON, Nov 13 (Reuters) - Strong pay growth in Britain's private sector will be matched in the public sector in the year ahead, according to a survey which showed no sign of an easing of inflationary heat in the jobs market. The Chartered Institute of Personnel and Development (CIPD) said employers in the private and public sectors both planned 5% pay rises, meaning public workers were on course for their biggest pay rise since CIPD began its surveys in 2012. The CIPD survey showed 51% of public-sector employers reported hard-to-fill vacancies compared to 38% of private-sector employers. "There remains strong demand for people, particularly in the public sector. It’s no surprise therefore that employers are expecting pay increases to match that of the private sector to remain competitive."

Persons: Afolabi, CIPD, Rishi Sunak, Jon Boys, William Schomberg, Andy Bruce Organizations: REUTERS, Chartered Institute, Personnel, Bank of England, Reuters, Thomson Locations: Canary Wharf, London, Britain

☆ Reactions: Bank of England bashes pound after halting rate rises
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +8 min

A pedestrian carrying an umbrella walks near the Bank of England in the City of London, Britain, July 30, 2023. Investors had already rushed on Wednesday to reel in their bets on further UK rate rises after data showed UK inflation cooled surprisingly quickly in August. Against the euro , the pound was down 0.5% at 86.74 pence, having traded around 86.70 pence before the decision. "The MPC still refers to its flexibility to react should things change, but the chances are this could be the peak in this UK interest rate cycle." "However, there is a risk that the ‘lag effect’ on interest rate hikes means that today’s decision may not be felt for another 9 to 12 months."

Persons: Hollie Adams, Sterling, THOMAS, Huw Pill's, HUGH GIMBER, PHILIP SHAW, DOUGLAS GRANT, JEREMY BATSTONE, CARR, RAYMOND JAMES, FRANCES HAQUE, JOE TUCKEY, RICHARD GARLAND, GILES COGHLAN, BoE, stagflation, Amanda Cooper, Dhara Organizations: Bank of England, City of, REUTERS, London, Investors, Bank of, Bank, MPC, SANTANDER, LONDON, Core CPI, PMI, CPI, EMEA, Thomson Locations: City, City of London, Britain, London, MANX, EUROPEAN, FRANCE, GROUP, OXFORDSHIRE

☆ UK disinflationary shock sharpens Bailey’s dilemma
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Sept 20 (Reuters Breakingviews) - Bank of England Governor Andrew Bailey finally got some good news on Wednesday. UK annual inflation fell to 6.7% in August, from 6.8% in July, confounding market expectations of a rise to 7%. Domestic disinflationary forces offset a nearly 30% rise in oil prices to bring headline inflation to the lowest level since February 2022. Higher petrol prices did add around 0.3 percentage points to the consumer price index, according to Capital Economics.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, disinflation, Francesco Guerrera, Bernie Sanders’s, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Capital Economics, CPI, Thomson Locations: London, Britain

☆ Higher pay makes life harder for Treasury and BoE
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

Andrew Bailey, Governor of the Bank of England, attends the Bank of England Monetary Policy Report Press Conference, at the Bank of England, London, Britain, February 2, 2023. Yui Mok/Pool via REUTERS Acquire Licensing RightsLONDON, Sept 12 (Reuters Breakingviews) - UK employees and pensioners can raise a glass. Average total pay, including bonuses, rose at an annual rate of 8.5% in the three months to July, faster than inflation. The average state pension will rise from 156.2 pounds to 169.5 pounds per week, according to the Institute for Fiscal Studies. Bank of England Governor Andrew Bailey and finance minister Jeremy Hunt may, however, be crying into their beer.

Persons: Andrew Bailey, Yui Mok, Jeremy Hunt, Hunt, BoE, Bailey, Francesco Guerrera, George Hay, Oliver Taslic Organizations: Bank of England, Press, REUTERS Acquire, Reuters, Institute for Fiscal Studies, X, UBS, Warner Bros Discovery, Thomson Locations: London, Britain, Asia

☆ High services costs make UK rate-cutting laggard
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report August 2023, at the Bank of England in London, Britain, August 3, 2023. Alastair Grant/Pool via REUTERS Acquire Licensing RightsLONDON, Aug 16 (Reuters Breakingviews) - UK inflation is slowing, according to many metrics. Unfortunately, those are not the ones the Bank of England values the most. Prices in that category grew 7.4% in July, faster than June’s 7.2%, due to more expensive restaurants, hotels and airfares. Policymakers keep a close eye on services’ prices and wage growth, which hit a record in the three months to June.

Persons: Bank of England Andrew Bailey, Alastair Grant, Andrew Bailey, Bailey, Francesco Guerrera, Exor’s Philips, Bain, Neil Unmack, Streisand Neto Organizations: Bank of England, Monetary, REUTERS Acquire, Reuters, Bank of, Office, National Statistics . Services, European Central Bank, U.S . Federal Reserve, Twitter, FC Barcelona’s, Messi, Thomson Locations: London, Britain, Bank of England, June’s

☆ Indian lenders’ earnings get credit reality check
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File PhotoMUMBAI, Aug 7 (Reuters Breakingviews) - A near three-fold jump in net profit did little to cheer State Bank of India (SBI.NS) investors. April to June is seasonally weak for farm credit, and Khara said some delinquent accounts have already bounced back. Granted, overall delinquencies remain low: gross non-performing assets are just 2.76% of SBI’s portfolio, and less than half that at HDFC Bank. The fear is, as one executive told Breakingviews, that this is worsening as pandemic-era support schemes wind down and interest rates rise.

Persons: Dinesh Khara, Khara, Breakingviews, Shritama Bose, headwinds, Antony Currie, Thomas Shum Organizations: State Bank of India, REUTERS, Reuters, HDFC Bank, Bajaj Finance, Services, Twitter, Adidas, InBev, Thomson Locations: Kolkata, India, MUMBAI

☆ Maersk has ways to grow again despite headwinds
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Container ship "Evelyn Maersk" is loaded during snowfall at a container terminal in a harbour amid the coronavirus disease (COVID-19) pandemic, in Hamburg, Germany, April 6, 2021. Arch rival and privately-owned Mediterranean Shipping Company (MSC) is deploying cash reserves on acquisitions to diversify away from container shipping. Maersk also needs to strengthen its logistics and services unit, where organic revenue fell 19%, dragged down by lower retail demand, particularly in North America. Last year's purchases of Pilot and LF Logistics helped prop up the division, but Maersk needs to invest more. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evelyn Maersk, Fabian Bimmer, A.P, Moller, Boss Vincent Clerc, EBITDA, Clerc, Pamela Barbaglia, Pierre Briancon, Streisand Neto Organizations: REUTERS, Fabian Bimmer LONDON, Reuters, Maersk, Walmart, Nike, Unilever, CMA CGM, Mediterranean Shipping Company, LF Logistics, Twitter, Adidas, InBev, Thomson Locations: Hamburg, Germany, North America

☆ Coinbase dangerously raises the stakes
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado RuvicNEW YORK, Aug 4 (Reuters Breakingviews) - Coinbase Global (COIN.O) just showed its hand in a dangerous game. Because trading activity is notoriously volatile, Coinbase boss Brian Armstrong is sensibly seeking new lines of business. After a 170% rise in the company’s share price this year, the legal limbo raises the stakes in a more worrisome way. models beauty’s new look read moreEditing by Jeffrey Goldfarb and Sharon LamOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado, Brian Armstrong, Coinbase, Armstrong, Anita Ramaswamy, headwinds, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, Ten, U.S . Securities, Exchange Commission, California and, Twitter, Maersk, Adidas, InBev, Thomson Locations: Ten U.S, California, California and New Jersey

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ BoE’s inflation firefighting will outlast peers
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

The Bank of England on Thursday raised UK interest rates by a quarter of a percentage point to a 15-year peak of 5.25%. Governor Andrew Bailey and his colleagues also vowed monetary policy would remain “sufficiently restrictive for sufficiently long” to bring inflation down to the BoE’s 2% target. As for the BoE, traders are betting that rates will hit 5.5% in September and stay elevated for the whole of next year. Despite an early start, Bailey’s fight against stubborn inflation is likely to drag on for longer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Andrew Bailey, BoE, Bailey, Bailey’s, Francesco Guerrera, Lisa Jucca, Oliver Taslic Organizations: Reuters, Bank of England, U.S . Federal Reserve, European Central Bank ., ECB, Twitter, Thomson

☆ Robinhood swaps meme-green tights for duller look
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Robinhood logo is seen on a smartphone in front of a displayed stock graph in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/NEW YORK, Aug 3 (Reuters Breakingviews) - Robinhood Markets (HOOD.O) is looking more grown-up - and more boring. The problem: Users are still fleeing, and nearly half of revenue comes from interest that is destined to fade. Robinhood warned last quarter that a 100 basis-point drop in interest rates would lead to a hit equivalent to an 11% fall in revenue. When the Federal Reserve eventually turns to cutting rates, Robinhood will need more users to fill that hole.

Persons: Dado Ruvic, Vlad Tenev, ” That’s, Robinhood, Ben Winck, Jonathan Guilford, Sharon Lam Organizations: REUTERS, Reuters, Stock, Federal Reserve, Twitter, Adidas, InBev, Thomson

☆ Andrew Bailey’s silence is hurting UK homeowners
▼ + stars: | 2023-07-12 | by ( Francesco Guerrera | ) www.reuters.com time to read: +3 min

LONDON, July 12 (Reuters Breakingviews) - The Bank of England’s silence has left traders in a tizzy. Market interest rates have spiked due to soaring inflation expectations, pushing up mortgage costs. That looks like an over-reaction but unless Governor Andrew Bailey says so, homeowners will pay the price. Now, traders believe rates will be at around 6.2% in a year’s time and stay above 5.8% for a further two years. That spike sent the average two-year fixed mortgage rate to 6.66% on Tuesday, the highest level since August 2008, according to Moneyfacts.

Persons: Andrew Bailey, BoE, abate, Bailey, Liz Truss, Neil Unmack, Pranav Kiran Organizations: Reuters, Bank, Finance, Bank of England, Thomson

☆ Credibility crisis requires BoE to write new plot
▼ + stars: | 2023-06-20 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

LONDON, June 20 (Reuters Breakingviews) - Since May 24, thousands of British people have had their homeowning dreams dashed by a sudden spike in mortgage rates. Unlike many other central banks, the BoE doesn’t provide its own forecasts of how consumer prices will evolve in coming years. The whiplash occurred because traders had to digest the inflation shock without any interest rate guidance from policymakers. Because most banks price home loans off those derivatives, it sent mortgage rates rocketing. The BoE announces its latest interest rate decision on June 22, with traders expecting a 25-basis-point hike, to 4.75%.

Persons: “, Paul Gascoigne, BoE, Andrew Bailey, That’s, Bailey, ”, Charles Goodhart, ’, apocryphally, Seneca, David Roberts, George Hay, Oliver Taslic Organizations: Reuters, Bank of England, Monetary, U.S . Federal Reserve, European Central Bank, Reuters Graphics Reuters, MPC, Financial Times, Fed, Thomson Locations: policymaking, BoE’s

☆ A top tip for central banks: talk less, smile more
▼ + stars: | 2023-04-11 | by ( Ben Winck | ) www.reuters.com time to read: +8 min

WASHINGTON, April 11 (Reuters Breakingviews) - Investors hang on central bankers’ every word, hoping to gain an edge for their next trade. But with consumer prices rising at the fastest pace in decades, central bankers can’t easily cut borrowing costs, either. Chatty central banks are a relatively new phenomenon. Investors are also more sensitive to central banks today than in years past. Still, being more careful about what’s said, and how it’s said, could help central banks better balance their priorities.

March 3 (Reuters) - Silvergate Capital Corp (SI.N) said on Friday it made a "risk-based decision" to discontinue the Silvergate Exchange Network, its crypto payments network, two days after the digital asset-focused bank raised doubts about its viability. "Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). The Silvergate Exchange Network, one of the bank's most popular offerings, enabled round-the-clock transfers between investors and crypto exchanges, unlike traditional bank wires, which can often take days to settle. Silvergate shares on Friday slumped more than 2% in after-hours trading, after closing up 0.9% at $5.77 in regular trade. Stablecoin issuers Paxos and Circle, Cboe’s digital asset exchange, and crypto exchanges Bitstamp and Gemini also suspended their partnerships with Silvergate.

☆ Central banks' inflation fall-guy lives Down Under
▼ + stars: | 2023-02-16 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Feb 16 (Reuters Breakingviews) - If any central bank governor was to feel the heat from the past year’s multiple interest-rate increases, the smart money might have been on the U.S. Federal Reserve’s Jerome Powell. Fast forward and Philip Lowe, governor at the Reserve Bank of Australia, looks most exposed. It would be unfair for Lowe to be the fall guy for central banks’ general inflation failure. The head of the central bank made his comments in front of the Senate Economics Legislation Committee. When questioned about his future at the bank, Lowe said he intended to serve out his seven-year term as governor, which ends in September.

☆ Investors wait to hear from Fed Chair Powell at central banking forum
▼ + stars: | 2023-01-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Powell is set to participate in a panel discussion on central bank independence at an event hosted by Sweden’s central bank, the Sveriges Riksbank. It will also be attended by Bank of England Governor Andrew Bailey and European Central Bank member Isabel Schnabel, among others. That has enabled the Fed to start easing back on the size of its historically high rate hikes meant to cool the economy and fight rising prices. These three central banks are fighting in different conditions, but they share a similar battle strategy: Keep tightening. Thursday’s Consumer Price Index for December — which will be the new year’s first check on inflation — will also provide helpful clues to investors about whether US price hikes are sufficiently cooling.

☆ BOE Raises Rates by 0.5 Point, Slowing Pace of Tightening
▼ + stars: | 2022-12-15 | by ( Tom Fairless | Paul Hannon | ) www.wsj.com time to read: 1 min

The Bank of England increased interest rates by 0.5 percentage point to 3.5%, following the Federal Reserve in slowing the pace of increases as inflation edges lower. The BOE’s decision follows a similar move by the Swiss National Bank on a busy day for Europe’s most influential central banks. Investors expect the European Central Bank to announce 0.5-point rate increase later Thursday. Both the BOE and the ECB have been battling all year with inflation that has spiraled to multidecade highs, partly fueled by a surge in energy prices following Russia’s invasion of Ukraine.

☆ UK banks’ Big Bang thankfully looks like big flop
▼ + stars: | 2022-11-30 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Yet, the mooted changes would probably only benefit middling lenders like Santander UK, Virgin Money (VMUK.L) and Banco Sabadell’s (SABE.MC) TSB Bank, according to the FT. And on Wednesday, the BoE’s supervisory body said it planned largely to stick to international bank-capital rules, dubbed Basel 3.1. But the big flop might not be such a bad thing for the country’s financial sector. Separately, the government’s City minister Andrew Griffith said on Nov. 29 that he wanted to relax the so-called ringfencing regime that forces large British lenders to separate their retail and investment banking arms. According to the Financial Times, the ringfencing regime would still apply to the biggest UK banks but there could be exemptions for lenders with limited trading operations including Santander UK, Virgin Money and TSB Bank.

However, Biden said the weapon was probably not fired by Russia, although the investigation was ongoing. NATO ambassadors will hold an emergency meeting on Wednesday with a news conference due around 11.30 GMT. The European common currency was then knocked off that high, falling as low as $1.028 after news of the explosion in Poland sent traders to the safety of the dollar, which also caused falls in equities. "Geopolitical risks continue to hang over currency markets and are likely to remain a key driver of volatility," she said. The greenback was also down 0.15% on the Swiss franc at 0.9418, near Tuesday's seven-month low, and the dollar index, which tracks the greenback against six main peers, was 0.24% lower at 106.26.

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