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☆ U.S. economic growth likely to be very strong: Strategist
▼ + stars: | 2024-10-28 | 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 EmailU.S. economic growth likely to be very strong: StrategistDwyfor Evans, managing director and head of Asia-Pacific macro strategy at State Street Global Markets, discusses the longer-term outlook for U.S. earnings.

Persons: Dwyfor Evans Organizations: Street Global Locations: Asia, Pacific

☆ Markets trying to understand BOJ & yen position post-elections: Strategist
▼ + stars: | 2024-10-28 | 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 EmailMarkets trying to understand BOJ & yen position post-elections: StrategistThe Nikkei 225 rockets higher after a surprising defeat for the ruling Liberal Democratic Party. We ask Daniel Gerard from State Street Global Markets what that says about market sentiment, and where it leaves the Bank of Japan and the Japanese yen.

Persons: Daniel Gerard Organizations: Nikkei, Liberal Democratic Party, State Street Global, Bank of Japan

☆ Focus on margins and leverage ahead of Fed's easing cycle: State Street
▼ + stars: | 2024-09-16 | 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 EmailFocus on margins and leverage ahead of Fed's easing cycle: State StreetDaniel Gerard, Senior Multi-Asset Strategist from State Street Global Markets explains why historical asset allocation ahead of a rate cutting cycle does not apply to current strategy.

Persons: Daniel Gerard Organizations: State Street Global

☆ U.S. outlook is positive, while Europe remains on the 'back foot,' State Street says
▼ + stars: | 2024-09-11 | 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 EmailU.S. outlook is positive, while Europe remains on the 'back foot,' State Street saysMarija Veitmane, head of equity research at State Street Global Markets, says the U.S. economy looks strong, while Europe is facing pressures.

Persons: Marija Veitmane Organizations: Street Global Locations: Europe, U.S

☆ A second Trump term is likely to be more inflationary, strategist says
▼ + stars: | 2024-07-16 | 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 EmailA second Trump term is likely to be more inflationary, strategist saysMichael Metcalfe, head of macro strategy at State Street Global Markets, weighs in on the impact of a possible second Trump presidency for inflation.

Persons: Michael Metcalfe Organizations: Trump, Street Global

☆ Trump 2.0 could be bad news for global inflation, analysts say
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +3 min

Brendan Smialowski | Afp | Getty ImagesA second presidential term for former President Donald Trump could reignite global inflation as his America-first policies drive up costs across the world, analysts warned. "The level of inflation is higher, inflation expectations are higher, and we're still in this inflation mindset." A recent poll of economists suggested, however, that the majority see inflation ticking higher under Trump due to his hard-line protectionist stance. watch nowThat higher inflation could spill over into Asia, too, Nomura's Gareth Nicholson said in a note to CNBC. In Europe, Goldman Sachs predicted in a Friday note that a Trump presidency could add a 0.1 percentage point increase to inflation as higher tariffs weigh on global trade.

Persons: Donald Trump, Brendan Smialowski, Michael Metcalfe, CNBC's, we're, Joe Biden, Trump, Nomura's Gareth Nicholson, Goldman Sachs, Manulife's Marc Franklin Organizations: Republican, Convention, Afp, Getty, Street Global Markets, Trump, Biden, CNBC, Republican National Convention Locations: Milwaukee , Wisconsin, America, U.S, Asia, Europe, China, Milwaukee, Pennsylvania

☆ U.S. rate cut expectations: We're 'slightly more conservative' than the market, strategist says
▼ + stars: | 2024-07-10 | 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 EmailU.S. rate cut expectations: We're 'slightly more conservative' than the market, strategist saysYuting Shao, macro strategist at State Street Global Markets, says it expects it to start cutting interest rates in December.

Persons: Yuting Shao Organizations: State Street Global

☆ The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.

Persons: —, Marija Veitmane, Veitmane Organizations: Service, Federal, Street Global Markets, Business, CNBC, AAA

☆ Fed delay of rate cuts will cause 'no landing then crash': State Street
▼ + stars: | 2024-05-03 | 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 EmailFed delay of rate cuts will cause 'no landing then crash': State StreetMarija Veitmane, head of equity research at State Street Global Markets, discusses the outlook for the U.S. economy in a "higher for longer" rate environment.

Persons: Marija Veitmane Organizations: Street Global Locations: U.S

☆ We can easily see the Bank of Japan moving in June: State Street Global Markets
▼ + stars: | 2024-04-30 | 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 can easily see the Bank of Japan moving in June: State Street Global MarketsDwyfor Evans, managing director and head of Asia-Pacific macro strategy at State Street Global Markets, discusses how U.S.-Japan interest rate differentials might affect the yen.

Persons: Dwyfor Evans Organizations: Bank of, Global, Street Global Locations: Bank of Japan, Asia, Pacific, Japan

☆ Asian stocks slump to 11-mth lows as higher-for-longer rate fears persist
▼ + stars: | 2023-10-26 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

Australian shares fell to a one-year low, as stronger-than-expected third-quarter inflation data raised bets that the central bank might raise rates next month. In the currency markets, the dollar index hit a two-week high of 106.77. By 0300 GMT the yen was trading at a one-year low of 150.43 per dollar. The Australian dollar fell to an almost one-year low of $0.6271 in morning trade. The New Zealand dollar also hit a nearly one-year low at $0.5776.

Persons: Androniki, Ben Luk, Seng, Brent, Gold, Xie Yu, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Japan's Nikkei, Treasury, Multi, State Street Global, U.S, New Zealand, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, China, Hong Kong, Europe

A calmer tone set in later on Wednesday, with bond yields retreating. In the U.S. Treasury market -- considered the bedrock of the global financial system -- 10-year yields have jumped as much as 20 basis points (bps) to 4.8% this week alone. Bond yields move inversely to prices, and many asset managers who had held bonds expecting prices to rally are now throwing in the towel. Australian and Canadian 10-year bond yields have surged over 20 bps each this week , , and British 30-year government bond yields hit a fresh 25-year high above 5% on Wednesday . , ,World stocks (.MIWD00000PUS) hit their lowest since April on Wednesday, and the cost of insuring exposure to a basket of European corporate junk bonds hit a five-month high, according to data from S&P Global Market Intelligence.

Persons: Bond, Juan Valenzuela, Artemis, Kevin McCarthy, Jason Lee, Michael Metcalfe, Vikram Aggarwal, that's, Everybody's, you've, Richard McGuire, McGuire, Dhara Ranasinghe, Naomi Rovnick, Alun John, Yoruk Bahceli, Chiara Elisei, Marc Jones, Andy Bruce, Kim Coghill, Toby Chopra Organizations: bund, U.S . Treasury, Federal Reserve, Reuters, ADP, U.S . House, Congress, Hong, REUTERS, Street Global Markets, P Global Market Intelligence, Jupiter, New York Fed, Rabobank, Thomson Locations: Treasuries, British, U.S, Hong Kong, London

☆ Markets in Q3: Gains, pains and oil reigns
▼ + stars: | 2023-09-29 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. Gold has lost its shine too meaning that only oil and gas, cash and the dollar have proved reliably profitable. “If you are going above $100 a barrel and staying there you are starting to create that inflation narrative again”. Athens’ main stock market is up 26.5% this year, even if it is down 11% since July. “The comforting news for Q4 though is that we should be close to peak (global) interest rates,” Metcalfe said.

Persons: Christian Hartmann, It’s, Salman Ahmed, Japan’s, ”, Robert Alster, El Salvador’s, Tayyip Erdogan’s, Argentina’s, Michael Metcalfe, ” Metcalfe Organizations: REUTERS, Christian, Federal Reserve &, Macro, Deutsche Bank, Management, Russia, U.S, Athens ’, Apple, Microsoft, Nvidia, Tesla, Meta, Street Global Markets, Indicators Locations: Paris, France, Saudi Arabia, Russia, Ukraine, Greece, Athens, Pakistan, Britain’s, Turkey, Nigeria, Colombia, Mexico, U.S, Poland, Ecuador, Japan

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Stocks retreat, US yields advance, dollar strengthens on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Passersby walk past an electric board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Sept 21 (Reuters) - Asian stocks followed Wall Street's lead on Thursday, dipping across the board as investors interpreted the U.S. Federal Reserve's latest policy statements as signalling higher-for-longer interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.6%, with the Hong Kong benchmark shedding 0.8%. The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970%. The overall tone of the Fed's latest meeting was not overly hawkish but there were two surprises, he said.

Persons: Issei Kato, Ben Luk, Luk, Brent, Xie Yu Organizations: Nikkei, REUTERS, . Federal, Hong, Japan's Nikkei, Treasury, State Street Global Markets, Fed, U.S ., Major U.S, Bank of England, Thomson Locations: Tokyo, Japan, HONG KONG, ., Asia, Pacific, Hong Kong, U.S, Indonesia, Philippines, Taiwan

☆ Australian jobs surge as productivity debate heats up
▼ + stars: | 2023-09-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

"Headline indicators report a very strong employment report, but the bias towards predominantly part-time employment should temper exuberance," said Dwyfor Evans, head of APAC macro strategy at State Street Global Markets. Markets maintained bets that the Reserve Bank of Australia (RBA) would keep rates steady next month, with an about 40% chance of one final hike early next year. WAGES, PRODUCTIVITYThe strong figures showed Australia's jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its COVID-era border restrictions. loadingTreasurer Jim Chalmers on Thursday welcomed the strong jobs report, but warned that the labour market could slow from here, a consensus view among economists. Adam Boyton, head of Australian research at ANZ, is already seeing signs of slackening in the labour market, with underemployment rate creeping up and hours worked falling.

Persons: Barista Claudio Chimisso, Loren Elliott, Dwyfor Evans, Tim Gurner, Alexandria Ocasio, Cortez, Jim Chalmers, Chalmers, Adam Boyton, Boyton, Stella Qiu, Kim Coghill, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Street Global, Reserve Bank, Australian, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia, China

☆ If energy prices remain high, inflation could re-accelerate: State Street
▼ + stars: | 2023-09-06 | 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 EmailIf energy prices remain high, inflation could re-accelerate: State StreetDwyfor Evans, managing director and head of APAC Macro Strategy at State Street Global Markets, speaks to CNBC's Dan Murphy about the potential impact of crude prices remaining high.

Persons: Dwyfor Evans, CNBC's Dan Murphy Organizations: Street Global

☆ Asian shares set for worst month since Feb on China gloom
▼ + stars: | 2023-08-31 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February. Data on Thursday showed China's manufacturing activity contracted for a fifth straight month in August, and the expansion in services sector lost a little momentum. Chinese blue-chips (.CSI300) were flat but a 2.5% rebound in property stocks boosted Hong Kong's Hang Seng Index, which rose 0.7%. Barring the China gloom, investor confidence jumped in August, with a global confidence index (ICI) from State Street Global Markets surging 11.4 points to 107.7, led by North America which recorded the strongest reading in a year on easing recession fears. Brent crude futures were little changed at $85.88 per barrel and U.S. West Texas Intermediate crude futures were up 0.1% at $81.74.

Persons: Marvin Loh, payrolls, Stella Qiu, Shri Navaratnam Organizations: U.S, PCE, Japan's Nikkei, ICI, Street Global, North, Global ICI, State Street Global, Federal, European Central Bank, Brent, . West Texas, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, North America, Europe, Germany, Spain

☆ U.S. macroeconomic conditions remain 'very strong,' strategist says
▼ + stars: | 2023-08-11 | 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 EmailU.S. macroeconomic conditions remain 'very strong,' strategist saysBen Luk of State Street Global Markets discusses the latest U.S. inflation data.

Persons: Ben Luk Organizations: Street Global Markets

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

☆ The Bank of Japan just shocked markets with a policy tweak — here's why it matters
▼ + stars: | 2023-07-28 | by ( Silvia Amaro | ) www.cnbc.com time to read: +5 min

Kazuo Ueda, governor of the Bank of Japan (BOJ). Bloomberg | Bloomberg | Getty ImagesThe Bank of Japan announced Friday "greater flexibility" in its monetary policy — surprising global financial markets. The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. When asked if the central bank had shifted from dovish to neutral, he said: "That's not the case. MUFG said that Friday's "flexibility" tweak shows the central bank is not yet ready to end this policy measure.

Persons: Kazuo Ueda, Shigeto Nagai, CNBC's, —, Duncan Wrigley, MUFG, Governor Ueda, Michael Metcalfe, Metcalfe Organizations: Bank of Japan, Bloomberg, Getty, of Japan, Nasdaq, Oxford Economics, disinflation, Capital Economics, U.S, U.S . Federal, Bank, Pantheon, Street Global Locations: Europe, Japan, U.S ., China, dovish

Many investors think that will only happen if interest rates go to levels just too high for investors to pass up. "You wonder whether they have left it too late" said Mikhail Volodchenko at one of Europe's largest fund managers AXA IM. Reuters Graphics4/LOCAL PROBLEMSIn contrast to the dollar bonds, Turkey's 'local' lira-denominated bonds have had a shocker. Even if the lira is taken out of the equation the bonds are still down around 13% since Erdogan's election win. Reuters Graphics($1 = 0.8920 euros)Reporting by Marc Jones and Canan Sevgili Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Erdogan, Mehmet Şimşek, Hafize Gaye Erkan, Mikhail Volodchenko, Enver Erkan, Yatirim, Treasuries, COVID, Wednesday Erdogan, Simon Lue, Fong, Vontobel, Turkey's, Jeff, Michael Metcalfe, Metcalfe, Marc Jones, Shri Navaratnam Organizations: LONDON, AXA, Reuters, JPMorgan EMBI Global, NATO, Investment, Wednesday, United Arab Emirates, JPMorgan GBI, Street Global Markets, Reuters Graphics, Thomson Locations: Central, Turkish, Nigeria, Argentina, Turkey, U.S, Arab, Swiss, Lira

☆ Asia stocks gain on hopes for China stimulus, Fed pause
▼ + stars: | 2023-06-07 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG, June 7 (Reuters) - Most Asia-Pacific stocks markets strengthened on Wednesday, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood. On Tuesday, China reportedly asked the biggest banks to cut deposit rates to boost the economy. "Overall, across the board, assets are doing pretty well," said Yuting Shao, macro strategist at State Street Global Markets. The U.S. dollar index slipped by 0.04% to 104.03. Leading cryptocurrency bitcoin was trading at about $27,000, consolidating following a sharp overnight rebound from as low as $25,350.

Persons: Hong, Yuting Shao, Saudi Arabia's, Brent, bitcoin, Solana, Ed Moya, Xie Yu, Kevin Buckland, Robert Birsel Organizations: Nikkei, State Street Global, Federal Reserve, Treasury, U.S, Australian, Saudi, U.S . Securities, Exchange Commission, SEC, Thomson Locations: HONG KONG, Asia, Pacific, China, Japan, Tokyo, Tuesday's, Cardano, Polygon, Bitcoin

☆ Analysis: Rates shift gives European currencies fresh legs
▼ + stars: | 2023-04-19 | by ( Alun John | ) www.reuters.com time to read: +5 min

But markets expect another 75 bps of European Central Bank rate hikes, with the deposit rate rising to a peak in the autumn. Expectations for higher official interest rates typically drag money market and government bond yields higher, attracting investor cash into a country and boosting its currency. "An interest rate differential that is flat between the two regions would be equivalent to a euro/dollar move up to around 1.20." TURNAROUNDThe Federal Reserve's relentless rate hikes sent the dollar to 20-year highs last year as other big central banks moved more slowly. "But interestingly last month has seen the pound stronger, because of limited spillovers and declining U.S. and European rate expectations."

☆ Explainer: Why European money market funds inflows are lagging behind the U.S. torrent?
▼ + stars: | 2023-04-11 | by ( Harry Robertson | ) www.reuters.com time to read: +6 min

[1/2] U.S. dollar and Euro bank notes are photographed in Frankfurt, Germany, in this illustration picture taken May 7, 2017. In Europe, investors put 17.7 billion euros ($19.35 billion) into euro-denominated money market funds in March, Refinitiv Lipper data shows, when the Credit Suisse crisis rocked markets. Other analysts said it was due to the fact that euro money market funds are underdeveloped relative to U.S. funds and are focused more on private sector, particularly bank, debt. WHAT IS A MONEY MARKET FUND? The European money market fund sector is far smaller than in the United States.

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