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☆ What Trump's return to the White House could mean for global bond yields
▼ + stars: | 2024-11-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesDonald Trump's U.S. election victory has ratcheted up concerns about higher prices, prompting strategists to rethink the outlook for global bond yields and currencies. Trump's return to the White House is seen as likely to throw a wrench in the Federal Reserve's rate-cutting cycle, potentially keeping an upward bias on Treasury yields. Bond yields tend to rise when market participants expect higher prices or a growing budget deficit. "Trump's election advances both possibilities as a trade war and increased fiscal spending work at cross purposes," he added. Germany's 10-year bond yield, the benchmark for the euro zone, stood at 2.337% on Wednesday, marginally lower for the session.

Persons: Donald Trump, Donald Trump's, Alim Remtulla, Remtulla, Kamala Harris, there's, Trump, There's, Shannon Kirwin, Kirwin, Sameer Goel, CNBC's, doesn't, Goel, MUFG Organizations: Bloomberg, Getty, EFG, Fed, CNBC, Treasury, Democratic, New York Stock Exchange, China News Service, Morningstar, European Union, Deutsche Bank, Trump, U.S, U.S ., Singapore, Malaysian, South Korean, ING Locations: Greensboro , North Carolina, Europe, United States, New York City, U.S, Mexico, Asia, China

☆ Yen slips as Japan's election result clouds BOJ rate hike prospects
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: +3 min

The yen touched a three-month low on Monday as Japan's ruling coalition lost its parliamentary majority and investors figured that would likely slow future interest rate hikes, while the dollar headed for a monthly gain on rising U.S. yields. On the dollar, the yen hit its weakest since late July at 153.3 in early-morning trade and it touched the same milestone at 165.36 to the euro . That was down from the 279 seats they held previously and marked the coalition's worst result since it briefly lost power in 2009. The U.S. dollar index has climbed 3.6% during October, its sharpest monthly rise since April 2022. The New Zealand dollar traded near a three-month low of $0.5974, down nearly 6% for the month.

Persons: Shigeru Ishiba's, Komeito, Donald Trump, Sterling Organizations: Shigeru Ishiba's Liberal Democratic Party, NHK, Bank of Japan, Nomura, U.S, gilts, Australian, New Zealand Locations: Japan, U.S, Europe, Australia, China

☆ Morning Bid: Gold makes the running as oil fails to fire
▼ + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Oil failed to sustain an early rally that followed news of attacks on commercial shipping in the Red Sea. Notably, oil prices lost early gains and Brent eased around 57 cents to $78.31 a barrel amid doubts that OPEC+ would be able to maintain planned output cuts, particularly by some African countries. At the same time, U.S. oil output is at record levels above 13 million barrels a day and rig counts are still rising. A commodity faring better is gold, which surged suddenly this morning to top $2,111 an ounce for the first time before paring the gains to $2,086. Yields on U.S. two-year notes rose almost 4 bps, but that follows a drop of 40 bps last week.

Persons: Alexander Manzyuk, Wayne Cole, Treasuries, Yemen's, Brent, Bundesbank, Christine Lagarde, Bonds, Goldman Sachs, Anna Breman, Riksbank, Edmund Klamann Organizations: REUTERS, Bulls, ECB, Thomson Locations: Novosibirsk, Siberian, Russia, Wayne, Red, U.S, Saudi Arabia

In Hungary, central bank governor Gyorgy Matolcsy is under pressure from Viktor Orban's government to cut rates further ahead of local and European Parliament elections next year. Reuters GraphicsTANGIBLE BENEFITSA 2021 World Bank survey found that political meddling in central bank policy led to sustained periods of high inflation in emerging market economies such as Turkey and Argentina. "Attempts to bring the president of the NBP before the State Tribunal can be directly interpreted as an attack on the independence of the central bank," the spokesman said. How those premia evolve will depend partly on how politics in Poland and Hungary is perceived by investors to influence the central banks in the months to come. "Everything else being equal, the less independent the central bank, the more real yield you need to have to be compensated for the risk," said Arif Joshi at Lazard Asset Management.

Persons: Adam Glapinski, Gyorgy Matolcsy, Viktor Orban's, Donald Tusk's, Karen Vartapetov, Paul Gamble, Glapinski's, Glapinski, Marta Kightley, Orban, Peter Virovacz, Arif Joshi, Karol Badohal, Gergely, Mark John, Toby Chopra Organizations: WARSAW, Law and Justice, U.S . Federal Reserve, EU, Sovereign, Investor, Emerging, Fitch, Local, ING, Lazard Asset Management, Thomson Locations: Hungarian, Poland, Hungary, BUDAPEST, Europe, Turkey, Argentina, WARSAW

☆ Macro hedge funds turn bearish on equities - Barclays
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

A trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. The bank's U.S. equity strategy team wrote that global macro hedge funds are likely seeing equities repricing lower as the 10-year Treasury yields has spiked to around 5%. CTAs, which were already bearish on equities, have added to their positions. "CTAs have built sizeable shorts in global equities, and have room to add further," Barclays said, adding the trend-following investors have become short U.S. technology stocks. The analysts noted CTAs are bearish on most assets, including U.S. Treasuries, JGBs and Bunds, but they are long oil.

Persons: Brendan McDermid, Carolina Mandl, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Barclays, Carolina, Thomson Locations: New York City, U.S, New York

☆ This Moroccan startup is growing crops in the desert
▼ + stars: | 2023-10-24 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +4 min

Sand to Green is a Moroccan startup that can transform a patch of desert into a sustainable and profitable plantation in five years, according to Wissal Ben Moussa, its co-founder and chief agricultural officer. Wissal Ben Moussa, Sand to Green co-founder and chief agricultural officer. “My top three favorite trees are carob, fig and pomegranate,” Ben Moussa says. “With this system we create biodiversity, which means better soil, healthier crops and a bigger yield,” Ben Moussa says. “We can go anywhere in the world as long as we have access to brackish water,” Ben Moussa says.

Persons: Wissal Ben Moussa, ”, Ben Moussa, Sand, Morocco that’s, ” Ben Moussa, “, Green Organizations: London CNN, United Nations, UN Convention, Biosaline Agriculture Locations: Africa, South America, Europe, China, Moroccan, Biochar, Morocco, Asia, Dubai, Tanzania, Sand, Mauritania, Senegal, Namibia, Egypt, United States

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsHONG KONG/LONDON, Oct 17 (Reuters) - Bond yields rose on Tuesday and stocks steadied as markets continued to retrace last week's moves to safe-haven assets, focusing on corporate earnings prospects and the resilience of the U.S. economy rather than tensions in the Middle East. Benchmark 10-year bond yields in the U.S. and Germany (Bunds) rose around 5 basis points (bps) on Tuesday having risen 5-8 bps Monday - bond yields move inversely to prices. Israel's shekel remained on the weak side of the 4 per dollar level it softened to for the first time since 2015 on Monday. Russian President Vladimir Putin on Tuesday arrived in Beijing to meet Chinese President Xi Jinping even as the war in Ukraine raged on. If investors do not receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: DAX, Kai Pfaffenbach, Banks, BNY, Goldman Sachs, We're, Jorge Garayo, Joe Biden, Israel, Israel's shekel, Vladimir Putin, Xi Jinping, BoE, Gold, Brent, Selena Li, Alun John, Shri Navaratnam, Ed Osmond, Alex Richardson Organizations: Deutsche, REUTERS, Bank of America, Treasury, Bund, Societe Generale, U.S, Israel, Hamas, Iran's, Tuesday, HK, Bank of England, Swiss, Venezuela, Thomson Locations: Frankfurt, Germany, HONG KONG, U.S, Iran, Gaza, Beijing, Ukraine, Friday's, Washington, Israel, Hong Kong, London

☆ Italy's rising bond yields are a wake-up call, central bank warns
▼ + stars: | 2023-10-09 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +3 min

The Bank of Italy building is seen downtown Milan, November 25, 2011. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsSummary Italy's bond spread versus Germany's widest since JanuaryCentral bank calls for 'extreme' budget prudenceSays economy remained weak in Q3 after Q2 contractionSell-off plan seems like window dressing, audit court saysROME, Oct 9 (Reuters) - Italy's rising bond yields are a "wake-up call", the country's central bank said on Monday, urging the government to handle its budgetary policy with "extreme prudence". "The high debt is a serious element of vulnerability," the Bank of Italy said in a testimony to parliament. The Bank of Italy said weakness in economic activity continued in the third quarter of this year, after GDP shrank by 0.4% in the previous one. Over the past decade, proceeds from privatisation programmes have averaged less than 0.1% of national output per year, the Bank of Italy said.

Persons: Stefano Rellandini, Giorgia, Guido Carlino, Gareth Jones, Mark Potter Organizations: of, REUTERS, Bank of, Thomson Locations: of Italy, Milan, ROME, Bank of Italy, Ukraine, Israel, Rome, Greece's

☆ 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

☆ Take Five: Roll on Q4!
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +5 min

A possible shutdown would be further evidence of how political polarization in Washington is weakening fiscal policymaking, Moody's says. Economists polled by Reuters expect the U.S. economy created 150,000 jobs in September versus 187,000 in August. 2/ NEW CHIEF IN TOWNThe Reserve Bank of Australia's new governor Michele Bullock, the first woman to head the bank, chairs her first meeting on Tuesday. Meanwhile, New Zealand's Reserve Bank meets on Wednesday. With the cost of living a key election battleground, the drastic cut brings relief to those struggling with mortgage repayments.

Persons: Andrew Kelly, Ira Iosebashvili, Kevin Buckland, Harry Robertson, Karin Strohecker, Marc Jones, Joe Biden, Moody's, Michele Bullock, Bullock, Adam Glapinski, Dhara Ranasinghe, Sonali Paul Organizations: REUTERS, ., China, Democratic, Reuters, Reserve Bank of, New, Reserve Bank, Reuters Graphics Reuters, Equity, Treasury, Reserve, ING reckons, Thomson Locations: Manhattan , New York City, U.S, there's, Australia, Poland, Ira, New York, Tokyo, London, Washington, China, Beijing, Poland's

The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will attempt to keep her tax-cutting promises while also lowering the fiscal deficit. "This budget is Meloni's first real economic test since she came to power last October," said Tim Jones, euro zone analyst for market consultancy firm Medley Advisors. Meloni has much less room for manoeuvre than when she hiked deficit targets in her first budget a year ago. Episodes targeting airlines and investors in Italy's 307- billion-euro ($326.74 billion) bad loan market have followed a similar pattern. Meloni subsequently said no measures were planned regarding non-performing loans, but her party's proposal is still before parliament and uncertainty persists.

Persons: Giorgia Meloni, Meloni, Tim Jones, she's, Morgan Stanley, Reuters.G Rome, Roberto Perotti, Meloni's, Valentina Za, Francesco Canepa, Giuseppe Fonte, Sara Rossi, Gianluca Semeraro, Ed Osmond, Giselda Organizations: Treasury, Advisors, European Central Bank, Reuters, Ryanair, Milan's, Bank of, ECB, Thomson Locations: ROME, Italy, Greece, Rome, Italian, Italy's, Brussels, EU, Milan

☆ Stock markets face a 'perfect storm' as high rates and China fears bite, analysts warn
▼ + stars: | 2023-08-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. large scale fiscal stimulus) we acknowledge sentiment on China is unlikely to reverse sustainably on its own." Cau suggested this poses a problem for European and U.K. stocks. As such, Barclays is recommending investors should take a "barbell" approach involving allocations to cyclical and defensive stocks and a "value tilt." A value tilt refers to tipping a portfolio towards stocks perceived to be trading at a discount relative to their financial fundamentals.

Persons: Michael M, Russ Mould, bunds, Emmanuel Cau, Cau Organizations: New York Stock Exchange, Santiago, Getty, Bell, U.S, U.S . Federal, Treasury, Silicon Valley Bank, Barclays, European Equity Locations: New York City, U.S ., Silicon, China

[1/3] Pound notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble/LONDON/SINGAPORE, July 19 (Reuters) - Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. ,That was the British currency's lowest in a week against the dollar, as it continued to roll off a 15-month high of $1.3144 hit Thursday. Bank of Japan Governor Kazuo Ueda said on Tuesday there was still some distance to sustainably achieving the central bank's 2% inflation target, signalling his resolve to maintain ultra-loose monetary policy for the time being, in contrast to the hawkishness at other major central banks. Economists polled by Reuters expect the Fed to deliver a 25-basis-point rate hike at its upcoming policy meeting this month, with a majority betting that will bring an end to the central bank's current monetary tightening cycle.

Persons: ber, Phil Noble, Sterling, “, Kenneth Broux, Kazuo Ueda, Alun John, Rae Wee, Shri Navaratnam, Sam Holmes, Sharon Singleton Organizations: REUTERS, LONDON, Bank of England, Bank of Japan, Societe Generale, New Zealand, Federal, Reuters, Thomson Locations: Manchester, Britain, SINGAPORE, British, Asia Pacific, London, Singapore

☆ Reactions: UK inflation cools in June, pound drops
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +6 min

Sterling dropped broadly, falling against the dollar, the euro and the yen, as interest-rate futures showed investors no longer expect UK rates to peak above 6%. COMMENTS:KEVIN BRIGHT, GLOBAL LEADER, CONSUMER PRICING PRACTICE, MCKINSEY & COMPANY, LONDON:"Inflation dipped more than expected; but the gulf between the UK and the Eurozone inflation levels remains. Despite most categories seeing a decline, food & non-alcoholic beverage inflation at 17.3% remains only 1.8% below its peak in March 2023. "Continued rising prices, higher interest rates and below inflation wage growth – are a triple blow to household budgets. NEIL BIRRELL, CHIEF INVESTMENT OFFICER, PREMIER MITON INVESTORS, LONDON:"Some good news on UK inflation at last, coming in below expectations for June and most importantly the core inflation rate fell more than thought.

Persons: Sterling, BoE, KEVIN, JOE TUCKEY, JORDAN, NOMURA, CHRIS BEAUCHAMP, Andrew Bailey, JEREMY BATSTONE, CARR, RAYMOND JAMES, ” KENNETH BROUX, It's, JOSEPH CALNAN, NEIL BIRRELL, Amanda Cooper, Andrew Heavens, Catherine Evans Organizations: Bank of England's, Reuters, Reuters Graphics Reuters, MCKINSEY, COMPANY, LONDON, Bank of England, JORDAN ROCHESTER, CPI, IG GROUP, Bank of, SOCIETE GENERALE, U.S, EMEA, Thomson Locations: homebuilders, Bank of England, EUROPEAN

☆ Dollar gains as pound tumbles on cooling UK inflation
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar bounced on Wednesday after inflation in the United Kingdom cooled more than economists expected in June, sending the pound sharply lower against other major currencies. Before Wednesday's data, investors had assigned a roughly 60% chance that the BoE would hike rates on Aug. 3 by a half-percentage point. "The dollar is catching a reprieve because it's the inflation data that's really dictating sentiment, the dollar was whacked by cooler inflation last week and now it's the pound's turn today," Manimbo added. Fed funds futures traders are pricing in 33 basis points of additional tightening with the benchmark rate expected to peak at 5.40% in November. The New Zealand dollar was volatile, briefly spiking after consumer inflation came in slightly above expectations in the second quarter, before falling to last trade down 0.4% at $0.6250.

Persons: Joe Manimbo, BoE, Manimbo, Sterling, Kenneth Broux, Kazuo Ueda Organizations: U.S, Bank of England, Reuters, Bank of, Societe Generale, Federal Reserve, Bank of Japan, New Zealand Locations: Zealand, United Kingdom, May's, Convera, Washington ,, Bank of England

☆ Stock Market Today: Dow Futures, Bond Yields Fall
▼ + stars: | 2023-06-23 | by ( ) www.wsj.com time to read: +1 min

Bonds rallied , stocks were poised to slip and oil dropped on concern that global interest-rate hikes could push the world economy into recession. S&P 500 futures fell 0.5%. Dow industrials futures slipped 0.3% and Nasdaq-100 contracts ticked down 0.6%. Ten-year U.K. gilt yields slipped to 4.241% from 4.371%, a day after the Bank of England raised rates by half a percentage point. The cryptocurrency has rallied in recent days after BlackRock filed for a spot bitcoin exchange-traded fund.

Persons: Bonds, bunds, Germany’s Dax Organizations: Federal Reserve, Dow, Nasdaq, Bank of, Siemens Energy, Nikkei, Brent, BlackRock Locations: Bank of England, Europe, Asia, Shanghai, Saudi Arabia

☆ Asia shares gain as Singapore stops tightening, euro climbs
▼ + stars: | 2023-04-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

The dovish signals helped keep non-yielding gold near one-year highs, while the euro led the currency pack as the European Central Bank stays stubbornly hawkish. The Monetary Authority of Singapore (MAS) surprised many by leaving policy unchanged, saying the tightening already underway would ensure inflation slowed sharply later this year. A break under 100bp would see the spread at its narrowest since early 2014, when the euro was up around $1.3600. The dollar was relatively steady on the yen at 132.51 yen , supported by the Bank of Japan's easy policy stance. Bank of Japan Governor Kazuo Ueda said on Thursday he told his G20 counterparts the central bank will likely keep monetary policy ultra-loose.

☆ Morning Bid: Singapore signals a peak for policy tightening
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne Cole. Singapore's central bank sprang the surprise of the Asian day by halting its tightening cycle when markets had expected a sixth straight round of restraint. The Monetary Authority of Singapore (MAS) said there was enough currency appreciation - controlling the SGD is its primary policy tool - already in the pipeline to ensure inflation slowed sharply as the year progressed. It also sounded more downbeat on the economic outlook as GDP growth missed forecasts with a rise of just 0.1%. It made a five-month top on the yen, a 10-month peak on the Singapore dollar and a 17-month high on the Australian dollar.

☆ Asia shares up as Singapore joins the pause camp
▼ + stars: | 2023-04-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

The Monetary Authority of Singapore (MAS) surprised many by leaving policy unchanged, saying the tightening already underway would ensure inflation slowed sharply later this year. The prospect of a peak for rates helped offset worries about recession and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) nudged up 0.4%. The euro was also near highs seen back in November above 146.00 yen , and jumped to a 10-month peak on the Singapore dollar after the MAS decision. The dollar was relatively steady on the yen at 132.57 yen , supported by the Bank of Japan's still uber-easy policy stance. Brent edged up 27 cents to $86.36 a barrel, while U.S. crude rose 26 cents to $82.42 per barrel.

☆ Stocks up, bond yields fall as markets mull a Fed policy pause
▼ + stars: | 2023-03-23 | by ( Koh Gui Qing | ) www.reuters.com time to read: +4 min

The Fed's hint of a pause after announcing a quarter-point rate rise on Wednesday, even as it re-stated its commitment to fight inflation, provided relief to markets. "Note the modern-day history book of Fed pauses is very bullish for stocks," Innes said. In Europe, news of the rate hikes in Switzerland and Britain helped push the European-wide STOXX 600 share index (.STOXX) down 0.21%. For bond markets it meant European government bond yields - which reflect borrowing costs - were heading down again. German Bunds were back at 2.25%, having seen 10-year U.S. Treasury yields dip back below 3.5%.

☆ Rally splutters as Europe ploughs on with rate hikes
▼ + stars: | 2023-03-23 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

The European-wide STOXX 600-share index (.STOXX) fell 0.75% with banks and insurers the main culprits again, suffering 1.6%-2% drops. Norway had also hiked, although MSCI's main world share index (.MIWD00000PUS) was still in positive territory after overnight gains in Asia. Focus now shifts to the Bank of England, with investors expecting a quarter-percentage-point increase in its main rate after a surprise jump in inflation squashed hopes of it pausing its tightening campaign. /FRXElsewhere in the bond markets, although UK yields were up those on German Bunds were down at 2.281%, happy to match the falls seen on 10-year U.S. Treasuries yields that had taken them to 3.440%. Germany's European Central Bank rate setter Joachim Nagel had even said he now thought the ECB was "approaching restrictive territory" with its rates, referring to a level that curtails growth.

Liquidity in the U.S. Treasury market has fallen sharply since the collapse of Silicon Valley Bank. The markets for the world’s safest and most liquid assets, the government bonds issued by the U.S. and other rich countries, are coming under immense stress on Wednesday following a week of worries about the health of global banks. Liquidity, the capacity to trade quickly at quoted prices, has fallen sharply in two of the keystone markets, those for U.S. Treasurys and German bunds, traders said. Difficulties in trading are now spreading to many other markets, including those for derivatives that firms and traders use to lock in prices and hedge risks weeks and months ahead of time, such as options, futures and swaps.

☆ Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data
▼ + stars: | 2023-02-03 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

Tech shares took a beating in Thursday's after-hours trading, with shares of Apple, Amazon and Google parent Alphabet all tumbling. That took the shine off a strong regular trading session on Thursday, when the S&P (.SPX) climbed 1.5% and the Nasdaq (.IXIC) surged 3.3%. In the currency markets, the euro extended losses to $1.0891, pulling further away from the ten-month top of $1.1033 touched on Thursday. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2% the previous session. That helped the U.S. dollar to recoup most of its post-Fed losses, with the dollar index now standing at 101.81, away from its nine-month low of 100.80.

[1/2] Men walk past an electric board displaying Nikkei and other countries' indexes outside a brokerage in Tokyo, Japan January 16, 2023. After $14 trillion was wiped off world shares in 2022, $4 trillion has been added back this month. "Markets are in this Goldilocks-scenario of OK growth, slowing inflation and softer monetary policy," said Richard Dias, founder of London-based investment consultancy Acorn Macro. Major central banks have added almost 3,000 basis points to global borrowing costs in this tightening cycle to date. "We've had a monumental rally in government bonds based on expectations we've reached the peak in interest rates," he said.

☆ Asian equities rise, dollar sways as focus firmly on Fed minutes
▼ + stars: | 2023-01-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan's Nikkei (.N225) lost 1.12% in early trade, while Australia's S&P/ASX 200 index (.AXJO) rose 1.28%. The dollar index , which measures the greenback against six other currencies fell 0.162% after rising 1% overnight. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 3.7 basis points at 4.368%.

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