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☆ CNBC Daily Open: U.S. economy’s fine, but markets driven by fear
▼ + stars: | 2024-10-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Brendan McDermid | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets are back to contending with rising oil prices, inflation possibly reaccelerating, fewer-than-expected rate cuts and potentially even a distant recession. The yield curve inverted in early July 2022 and normalized in early September. It's not inconceivable, then, for investors who take stock in what the yield curve signals to panic a little.

Persons: IXIC, Brendan McDermid, That's, Jeff Cox, It's, David Roche, Bob Parker, – CNBC's, Lisa Kailai Han, Jesse Pound Organizations: New York Stock Exchange, Reuters, CNBC, Quantum, International Capital Markets Locations: U.S

☆ CNBC Daily Open: Fear is the stock killer
▼ + stars: | 2024-10-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield curve inverted in early July 2022 and normalized in early September. It's not inconceivable, then, for investors who take stock in what the yield curve signals to panic a little. But there's an undercurrent of fear that can perhaps run contrary to what some of those numbers are saying.

Persons: Michael M, That's, Jeff Cox, It's, David Roche, Bob Parker, – CNBC's, Lisa Kailai Han, Jesse Pound Organizations: New York Stock Exchange, Santiago, CNBC, Quantum, International Capital Markets Locations: New York City, U.S

☆ No case for more jumbo rate cuts by the Fed, strategists say
▼ + stars: | 2024-10-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +4 min

A television broadcasts the Federal Reserve's interest rate cut on the floor of the New York Stock Exchange on Sept. 18, 2024. Roche said the figures made the Fed's "jumbo interest rate cut look silly, populist and panicky." 1 is that [it gives the impression that] the economy is more fragile than it is ... and the economy is fine, thank you very much, and doesn't need jumbo rate cuts," he told CNBC's "Squawk Box Europe." And headline and core inflation will stay above the Fed target of 2%, so the case for aggressive rate cuts [is not there]," he said. "Yes there is a case for modest rate cuts, there is a case for 25 to 50 basis point cuts by January next year, but a case for 50 basis point cut at the next meeting just does not exist," Parker said.

Persons: Michael Nagle, David Roche, Roche, CNBC's, " Roche, Bob Parker, Parker, Dave Pierce Organizations: New York Stock Exchange, Bloomberg, Getty, Federal Reserve, CNBC, Quantum, Federal, Market, International Capital Markets Association, Fed, Global, Capital, Dow Jones Industrial Locations: Israel, U.S

☆ Gold hovering near record levels: Here's what you need to know
▼ + stars: | 2024-05-21 | 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 EmailGold hovering near record levels: Here's what you need to knowChris Mancini, Gabelli Gold Fund associate portfolio manager, and Bob Parker, senior advisor at International Capital Markets Association, join CNBC's 'The Exchange' to debate the bear and bull case for gold.

Persons: Chris Mancini, Bob Parker, CNBC's Organizations: International Capital Markets Association

☆ Gold looks 'very vulnerable' to a setback, veteran advisor says, after prices hit record high
▼ + stars: | 2024-04-08 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Gold prices on Monday extended their record-breaking run, notching another all-time high amid robust U.S. economic data and elevated geopolitical tensions. Spot gold prices stood mixed to trade at $2,327 per ounce at around 1:45 p.m. London time, after briefly hitting a fresh record of $2,372.5 earlier in the session. But not everyone is convinced gold prices will continue to rally. Investors are looking at the underperformance of gold and therefore increasing exposure to gold. Related to that is actually the gold-bitcoin correlation — and one can get into a debate about whether that's meaningful or not — but the reality is there is a correlation between bitcoin and gold," Parker said.

Persons: Bob Parker, CNBC's, Parker Organizations: Citi, Capital Markets Association Locations: London, Ukraine, Gaza

☆ CNBC Daily Open: Hot inflation data but could have been worse
▼ + stars: | 2024-03-01 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech giant said the new offering can perform a handful of common role-specific actions in Excel and Outlook. Market unlikely to burstBob Parker, senior advisor at trade body International Capital Markets Association, told CNBC there are signs of a bubble in company valuations and investor concentration in the technology sector. [PRO] Europe's 'Super 7'Citi picked "Super 7" European stocks that it said are similar to the "Magnificent 7" U.S. technology stocks but have cheaper valuations leaving more room for them to rise.

Persons: Bitcoin, Bob Parker, Dell, Yvonne McGill Organizations: CNBC, Nasdaq, Dow Jones, Microsoft, Excel, Capital Markets Association, Dell, Citi

☆ AI is driving a market bubble that's unlikely to burst, veteran advisor says
▼ + stars: | 2024-03-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

As tech giant Nvidia soars on hype around artificial intelligence, and global stock indexes notch record highs, debate has grown about whether the stock market has entered a "bubble." That's generally seen as a period in which asset prices inflate rapidly, potentially beyond their core value — and risk crashing just as fast. Bob Parker, senior advisor at trade body International Capital Markets Association, told CNBC's "Squawk Box Europe" on Wednesday he saw signs of a bubble based on two of three main characteristics. If we look at the valuation of Nvidia, justifiably it is actually very high indeed," Parker said, adding that the second sign is investor positioning. "Whenever you have a market bubble, investors are very clustered or very concentrated, either in one market or in one sector.

Persons: Bob Parker, CNBC's, Parker, we've Organizations: Capital Markets Association, Nvidia Locations: Europe

☆ CNBC Daily Open: Wall Street unfazed by hot inflation data
▼ + stars: | 2024-03-01 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei nears record levelJapan's Nikkei 225 closed just shy of the 40,000 level, hitting a fresh record high of 39,910.82, up 1.9%. Overnight, Wall Street ended on a high note as the Nasdaq Composite hit its first closing record since November 2021, rising 0.9%. [PRO] Europe's 'Super 7'Citi picked "Super 7" European stocks that it said are similar to the "Magnificent 7" U.S. technology stocks but have cheaper valuations leaving more room for them to rise.

Persons: Bob Parker Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Ministry of Commerce, Capital Markets Association, Citi Locations: China, U.S, Europe

☆ Don't expect a major market reversal, senior advisor says
▼ + stars: | 2024-02-28 | 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 EmailDon't expect a major market reversal, senior advisor saysAre we in a market bubble after recent global highs? Bob Parker, senior advisor International Capital Markets Association, weighs in.

Persons: Bob Parker Organizations: Capital Markets Association

Zambia was the first African country to default in the COVID-19 era, in late 2020, but its restructuring process has been beset by delays. International bondholders also complained they were left out of the process, which started with drawn-out negotiations with bilateral creditors including China. Zambia's three international bonds rose sharply after the announcement, adding as much as 3.9 cents on the dollar, Tradeweb and MarketAxess data showed. The committee of bondholders owns or controls 40% of the outstanding bonds, Zambia's finance ministry added. Earlier this month, Zambia agreed a memorandum of understanding with its official creditors, including China and members of the Paris Club of creditor nations, to restructure about $6.3 billion of debt.

Persons: Situmbeko Musokotwane, Susana Vera, amortization, Rachel Savage, Karin Strohecker, Bhargav Acharya, David Holmes Organizations: Zambia's, International Monetary Fund, World Bank, REUTERS, IMF, Bondholder, Amia, Amundi, RBC BlueBay Asset Management, Farallon Capital Management, Greylock Capital Management, Paris Club, Thomson Locations: Marrakech, Morocco, JOHANNESBURG, Zambia, China, Rosario

"We would like to start as quickly as possible," he said of the buyback. Exceptional access would allow Kenya to ask for more than its limit of IMF funding. As of Oct. 5, the central bank said it had $6.9 billion in usable foreign exchange reserves, enough to cover around 3.7 months' worth of imports. The central bank held its main interest rate (KECBIR=ECI) at 10.5% on Oct. 3. Despite Kenya's debt pressures, the economy is set to grow 5.5% this year and around 6% in 2024, Thugge said, above the IMF forecasts for Sub-Saharan Africa of 3.3% and 4% respectively.

Persons: Kamau Thugge, Thugge, Rachel Savage, Jorgelina, Duncan Miriri, Karin Strohecker, Elisa Martinuzzi, Jan Harvey Organizations: Reuters, Trade, Development Bank, African Export, Import Bank, World Bank, International Monetary Fund, Thomson Locations: MARRAKECH, Morocco, Kenya, Marrakech, Saharan Africa, Rosario, Nairobi

☆ Germany's KfW bank will no longer grant promotional loans to China from 2026
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ralph Orlowski/File photo Acquire Licensing RightsFRANKFURT/BERLIN, Sept 26 (Reuters) - Germany will no longer grant promotional loans to China from 2026, the Federal Development Ministry (BMZ) confirmed on Tuesday, in the latest measure to reduce Germany's strategic dependence on China. The German ministry informed the Chinese Ministry of Finance in mid-September of the federal government's decision to permanently stop granting promotional loans to China. Contracts for promotional loan projects between German state-owned KfW Bank and the Chinese Ministry of Finance can only be signed up to and including 2025. "These promotional loan projects must have ambitious impacts in the areas of climate and environment," the ministry said. From 2013 to 2022, promotional loans with a total volume of 3.451 billion euros were agreed with China.

Persons: Ralph Orlowski, Svenja Schulze, Andreas Rinke, Emma, Victoria Farr, Leslie Adler Organizations: KfW, REUTERS, Federal Development Ministry, Chinese Ministry of Finance, KfW Bank, Reuters, Thomson Locations: Frankfurt, Germany, FRANKFURT, BERLIN, China

Turkey still has $2.5 billion earmarked in its budget for issuance this year - but could possibly go further than that, JPMorgan's Weiler told Reuters. Markets are expecting Turkey to come to market within days, though some are pointing to a country ratings review by S&P Global Ratings scheduled for Friday. Domestic appliance maker Arcelik last week became the first Turkish corporate to launch an international bond since January 2022. September is generally a busy month for emerging market issuers, though adding to the momentum was increasing risk appetite from investors, he said. Reporting by Karin Strohecker and Jorgelina do Rosario in London; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefan Weiler, Tayyip Erdogan, JPMorgan's Weiler, Weiler, Erdogan, Mehmet Simsek, Hafize Gaye Erkan, Fitch, " Weiler, Karin Strohecker, Jacqueline Wong Organizations: JPMorgan, Reuters, Wall Street, Turkiye, . Treasury, Thomson Locations: Ankara, Turkey, Africa, Rosario, London

☆ Counting the cost of contagion fears from Africa coups
▼ + stars: | 2023-09-21 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +5 min

Gabon coup leader General Brice Oligui Nguema is sworn in as interim president during his swearing-in ceremony, in Libreville, Gabon, September 4, 2023. The putsch not only sent Gabon's bonds tumbling 10%, but also hit those issued by a number of other countries including neighbouring Cameroon, as jittery investors scanned for who might be next. The apparent coup trend is adding to other major concerns deterring many investors from Africa - a wave of debt crises, tense geopolitics and an extreme vulnerability to climate change. "Nearly all markets in that region are paying some price in terms of rising cost of debt," said Sergey Dergachev, portfolio manager at Union Investment. There have been scores of coups and attempted coups in recent decades including in Thailand, Ecuador, Egypt and Turkey.

Persons: General Brice Oligui Nguema, Stringer, Sergey Dergachev, Paul Biya, Macky Sall, Denis Sassou Nguesso, Eamon Aghdasi, Fitch, Moody's, Thailand's, Ravi Bhatia, Bongo, Simon Quijano, Evans, Libby George, Marc Jones, Karin Strohecker, Emelia Sithole Organizations: REUTERS, UNDP, Union Investment, Investors, Reuters, General Assembly, Burkina, P Global, Reuters Graphics, Monetary Fund, Central, CFA, Peace, Thomson Locations: Gabon, Libreville, Africa Mali, Guinea, Africa, Cameroon, Mali, Thailand, Ecuador, Egypt, Turkey, crackdowns, Senegal, Congo Republic, New York, Niger, Burkina Faso, Kenya

☆ 'Potential minefield': Value investor Guy Spier talks U.S. bank risks, reveals his top stock to own
▼ + stars: | 2023-08-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Renowned value investor Guy Spier has said U.S. regional banks are a "potential minefield" in the current market environment. Moody's left the larger banks' ratings unchanged. Consolidation risks Spier explained that his view stems from the fact that the U.S. banking system remains highly fragmented, with around 12,000 banks nationwide. While not a "massive advantage," Spier believes larger money center banks like Bank of America have a slight edge in profitability over regional banks. Technology threat Aside from the risks highlighted by Moody's, Spier suggested that technology and innovation also pose major threats to regional banks.

Persons: Guy Spier, Spier, Warren Buffett, CNBC's, Moody's, he's Organizations: Bank of America, Spier . Technology, of America, Federal Reserve, U.S, JPMorgan, Citi, Asset Relief, CNBC Locations: Spier, U.S, Bank

☆ Kenyan, Zambian currencies expected to weaken
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +4 min

[1/2] Kenya Central Bank Governor Patrick Njoroge displays Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. One trader at a commercial bank said the currency was expected to float around 141.00 levels. GHANAGhana's cedi is expected to hold steady against the dollar next week on the back of high foreign exchange liquidity following central bank support, traders said. Bid-offer spreads are also expected to tighten further," said Sedem Dornoo, a senior trader at Absa Bank Ghana. UGANDAThe Ugandan shilling is expected to firm in the coming week, drawing support from hard currency inflows from exporters of commodities such as coffee.

Persons: Kenya Central Bank Governor Patrick Njoroge, Baz Ratner, GHANA Ghana's cedi, Sedem Dornoo, Chris Nettey, ZAMBIA Zambia's kwacha, Elias Biryabarema, Chris Mfula, Bhargav Acharya, Elisha Bala, Hereward Organizations: Kenya Central Bank Governor, Central Bank, REUTERS, KENYA, GHANA Ghana's, greenback, Absa Bank, Trading Stanbic Bank, ZAMBIA Zambia's, Access Bank, Bank, Thomson Locations: Nairobi, Kenya, JOHANNESBURG, Ghana, Nigeria, NIGERIA, GHANA, Absa Bank Ghana, Trading Stanbic Bank Ghana, UGANDA, Kampala, ZAMBIA

☆ Six Pacific countries at high risk of debt distress - World Bank
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

To match Feature PACIFIC-JUSTICE/ REUTERS/Lincoln FeastWELLINGTON, May 18 (Reuters) - Six Pacific countries are at a high risk of debt distress in part due to government spending to respond to the COVID-19 crisis, the World Bank said in a report on Thursday. Among other countries in the region, Vanuatu is rated at medium risk, while Palau and Nauru’s debt is sustainable, the report noted. The World Bank last month said that Fiji must also take urgent action to reduce its debt burden. Stephen Ndegwa, World Bank Country Director for Papua New Guinea & the Pacific Islands, said reducing debt, strengthening revenue and improving the quality of government spending are critical areas for Pacific countries to address. It also said that Pacific countries should allocate more to social assistance and protection measures.

☆ Jordan must accelerate reforms to drive faster growth -IMF
▼ + stars: | 2023-05-17 | by ( Suleiman Al-Khalidi | ) www.reuters.com time to read: +2 min

"With unemployment still high, and particularly among the youth and women, structural reforms are essential for achieving strong and inclusive growth and creating more jobs," IMF official Ron van Rooden told reporters. “Despite a challenging global and regional environment, Jordan has maintained macroeconomic stability," van Rooden said. Jordan's macroeconomic stability had helped it tap more favourable interest rates from international capital markets than other sovereign countries when it issued last months' Eurobond worth $1.25 billion, he said. "We are calling Jordan a success story because they have consistently implemented sound macroeconomic policy, fiscal policy, monetary policy," he said. Inflation was on track to moderate to 2.7% in 2023 from earlier projections of 3.8% with a tight monetary policy that helped to curb global inflationary pressures, van Rooden said.

☆ Recession risk and inflation fears creating 'a huge amount of confusion' for investors, strategist says
▼ + stars: | 2023-04-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Market participants are contending with the risk of persistently higher inflation and a bleak economic outlook, which strategists say is stoking a heady mix of confusion and pessimism. Bob Parker, senior advisor at International Capital Markets Association, said investor confusion appeared to be emerging as a big theme in financial markets. "If you look at the surveys of investor positioning and investor thinking, there is a huge amount of confusion at the moment," Parker told CNBC's "Squawk Box Europe" on Wednesday. To what extent is the U.S. economy and for that matter, the European economy slowing down? "And so, given those uncertainties, I think investors are reducing risk at the moment and booking, frankly, what are decent profits year-to-date."

☆ Confusion is a big theme as investors monitor recession odds and inflation fears, strategist says
▼ + stars: | 2023-04-26 | 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 EmailConfusion is a big theme as investors monitor recession odds and inflation fears, strategist saysBob Parker, senior advisor at International Capital Markets Association, discusses the outlook for quarterly earnings, the prospects for the banking sector and tech companies, and says the theme for May and June is likely to be a rotation into underperforming stocks year-to-date.

☆ Analysis: No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.

☆ No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

Kenya, along with other African frontier market nations, has been frozen out of international capital markets since early last year. However, it expects $250 million from syndicated loans this month and a $1 billion budgetary support loan from the World Bank in May, Njoroge said. "This compensates for the $1.2 billion we couldn't get from the market last year." Njoroge said Kenya is also seeking a new loan under the Fund's Resilience and Sustainability Trust (RST) to help countries ensure sustainable growth. Stubbornly high inflation that provoked a larger than expected rate hike last month was largely due to high food prices.

☆ China-driven growth seen helping emerging assets despite bank worries
▼ + stars: | 2023-03-30 | by ( Duncan Miriri | ) www.reuters.com time to read: +4 min

LONDON, March 30 (Reuters) - Stronger Chinese-led emerging markets growth will likely buffer the stocks, bonds and currencies of many developing nations as markets in the United States and Europe are whipped around by banking turmoil. "The growth premium in favour of emerging markets driven by China is clearly even more confirmed," Alessia Berardi, head of emerging markets (EM) research at Amundi, Europe's biggest asset manager, told Reuters. Analysts expect high interest rates, inflation and stress among some financial institutions to dampen growth in developed markets like the United States. "We prefer income in emerging markets debt with central banks closer to turning to cuts than developed markets, even with potential currency risks," it said in a research note. Local EM bonds have seen a return of 3.3% in the month-to-date (.JGEGDCM), compared to a 3.1% gain in U.S. 10-year Treasuries.

☆ 'The first bank crisis of the Twitter generation': The pressure on banks is very different from 2008
▼ + stars: | 2023-03-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

It is "unlikely" that European banks will undergo anything as serious as in 2008, according to economists. But a banking crisis today would look very different from 15 years ago thanks to social media, online banking, and huge shifts in regulation. This is "the first bank crisis of the Twitter generation," Paul Donovan, chief economist at UBS Global Wealth Management, told CNBC earlier this month, in reference to the collapse of Credit Suisse . watch nowRegulators shuttered Silicon Valley Bank on March 10 in what was the biggest U.S. bank collapse since the global financial crisis in 2008. Risk in the banking system today is significantly less than it has been at any time over the last 20 or 30 years.

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