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☆ Stocks, bonds fall as BOJ's surprise policy shift spooks investors
▼ + stars: | 2022-12-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points either side of its 0% target, from 25 basis points previously. European stock markets hit six-week lows, with the German (.GDAXI) and French benchmark indices (.FCHI) falling by as much as 1%, while London's FTSE 100 (.FTSE) lost as much as 0.8%. Japanese 10-year government bond yields surged to their highest since 2014, with euro zone yields following suit. The policy decision caused an immediate spike in the yen with the dollar index dropping 0.80% to 103.95, a six-month low. Credit Suisse on Monday upgraded its outlook from neutral to outperform for China's stock markets in the year ahead.

☆ The US housing market faces a 'triple whammy' of threats - and stocks may stage a Santa Claus rally, a top strategist says
▼ + stars: | 2022-12-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The US housing market has been hit by labor shortages, rising costs, and soaring mortgage rates. Brian Jacobsen, an Allspring strategist, described those three trends as a "triple whammy." On the other hand, the Allspring strategist suggested US stocks could reverse some of their recent declines before the new year. Its policymakers have responded by raising interest rates from almost zero in March to over 4% today. Higher interest rates encourage people to save rather than spend, and they raise the cost of borrowing, relieving upward pressure on prices.

☆ Wall St posts fourth straight drop, Treasury yields rise as recession fears weigh
▼ + stars: | 2022-12-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "(Investors are) worried about recession and higher rates and there’s not a lot of news to reverse the trend." Emerging market stocks rose 0.02%. U.S. Treasury yields rose as investors considered how high the Federal Reserve will hike interest rates in its protracted battle against inflation. Gold inched lower in thin trading, as rising yields on expected future interest rate hikes helped offset weakness in the greenback.

☆ Wall Street slides, Treasury yields rise on lingering recession fears
▼ + stars: | 2022-12-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.24% lower, while Japan's Nikkei (.N225) lost 1.05%. U.S. Treasury yields rose as investors considered how high the Federal Reserve will hike interest rates and how long they will remain at restrictive levels in its battle against inflation. U.S. crude rose 1.21% to settle at $75.19 per barrel, while Brent settled at $79.80, up 0.96% on the day. Gold inched lower in thin trading, as rising yields on expected future interest rate hikes helped offset weakness in the greenback.

HSBC "underperforms its peers, violates dividend commitments (and) ignores shareholders' interests," Ken Lui, convener of the group , said in a Thursday newspaper advertisement. London-headquartered HSBC, which is opposed to breaking up its business, dismissed the possibility of the proposal gaining traction among large shareholders. Hong Kong is HSBC's biggest market and home to many retail shareholders. DIVIDEND SUSPENSIONHong Kong retail shareholders were particularly upset when HSBC scrapped its formerly stable dividend in 2020 during the COVID-19 pandemic, when the Bank of England asked lenders to conserve capital. It has resumed paying a dividend but not quarterly, and retail investors are dissatisfied with payouts that, overall, are smaller than before.

☆ Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( Reuters Staff | ) www.reuters.com time to read: +8 min

STORY: STATEMENT TEXT:MARKET REACTION:STOCKS: The S&P 500 turned sharply lower then steadied down 0.11%BONDS: Benchmark 10-year note yields rose then backed off to 3.4847%. CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They’re reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. You know, the biggest thing that is holding the Fed back right now are the jobs numbers. The most dovish participants is looking for an extra 50 bps of hikes.

☆ Instant view: Fed hikes rates by 50 bp, as expected, keeps hawkish tone
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +8 min

CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE“The Fed is taking away the punchbowl just as the party was getting started. They're reiterating their forecasts but the whisper number was that the Fed was going to stop at a 4.5%-4.75% terminal rate. "But the Fed is out there saying that 5.1% is still on the cards … and that rate hikes will continue." BRIAN JACOBSEN, SENIOR INVESTMENT STRATEGIST, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS, WISCONSIN“The most interesting part of the releases were in the Summary of Economic Projections. And they’re holding it there longer than markets expected.”“In addition, they’re downgrading GDP estimates for this year, and in particular, for next year.

☆ Inflation backdrop may soon increase appetite for this roughed-up bond play
▼ + stars: | 2022-12-11 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +1 min

The appetite for Treasury inflation-protected securities ETFs, otherwise known as TIPS, may soon increase. TIPS ETFs are indexed to inflation, so their principal value is adjusted up when inflation rises. Despite major inflows in 2020, TIPS ETFs have been seeing meaningful outflows this year. Investors might have made tactical allocations towards TIPS ETFs and maybe they're pulling that back a little bit." TIPS ETF , which is down 16% so far this year.

☆ TSX posts biggest weekly decline since September as oil tumbles
▼ + stars: | 2022-12-09 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 22.12 points, or 0.1%, at 19,947.07, its lowest closing level since Nov. 17. For the week, the index was down 2.6%, its biggest weekly decline since September. The Toronto market's energy sector fell 0.7% as U.S. crude oil futures settled 0.6% lower at $71.02 a barrel. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ UK's FTSE 100 falls; BAT, Frasers flag challenging outlook
▼ + stars: | 2022-12-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.1%, FTSE 250 falls 0.2%Frasers drop to bottom of FTSEDS Smith rises on resilient demandDec 8 (Reuters) - UK's FTSE 100 was dragged lower by consumer staples and retailers on Thursday after forecasts from British American Tobacco and Frasers fuelled concerns over economic outlook. The blue-chip FTSE 100 (.FTSE) dipped 0.1% while the FTSE 250 was down 0.2%, as of 0949 GMT. Frasers Group (FRAS.L) was the biggest drag on retailers index (.FTNMX404010), which shed 0.9%, after the sportswear and clothing firm warned of a challenging and uncertain outlook despite posting an upbeat half-yearly profit. UK markets are bracing for a long uncertain winter amid rising borrowing costs and double-digit inflation that have sparked worker unrest in the recent past. Reporting by Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ S&P 500 ends slightly lower after jobs report
▼ + stars: | 2022-12-02 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

The Labor Department's jobs report showed nonfarm payrolls rose by 263,000, above expectations of 200,000 and wage growth accelerated even as recession concerns increase. The Dow Jones Industrial Average (.DJI) rose 34.87 points, or 0.1%, to 34,429.88, the S&P 500 (.SPX) lost 4.87 points, or 0.12%, to 4,071.7 and the Nasdaq Composite (.IXIC) dropped 20.95 points, or 0.18%, to 11,461.50. The major averages notched a second straight week of gains, with the S&P 500 climbing 1.13%, the Dow gaining 0.24% and the Nasdaq rising 2.1%. The S&P 500 growth index (.IGX) declined 0.29% while technology shares (.SPLRCT) were among the worst performing among the 11 major S&P 500 sectors with a fall of 0.55%. The S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 86 new highs and 92 new lows.

☆ Watch CNBC's full interview with JPM's David Kelly and Edward Jones' Mona Mahajan
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPM's David Kelly and Edward Jones' Mona MahajanDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.

☆ Jobs market still moderating and Fed will have an excuse to taper rate hikes, says JPM's Kelly
▼ + stars: | 2022-12-02 | 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 EmailJobs market still moderating and Fed will have an excuse to taper rate hikes, says JPM's KellyDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.

The S&P 500 is down 14.4% year-to-date. U.S. consumer prices rose less than expected in October, supporting the view that inflation was ebbing. Further ahead, some of Wall Street’s biggest banks are now forecasting that the Fed's monetary policy tightening will bring on a recession next year. In options markets, traders appear more preoccupied with not missing out on more gains in stocks than guarding against future declines. The one-month moving average of daily trading in bearish put contracts against bullish calls on the S&P 500 index-tracking SPDR S&P 500 ETF Trust's options is at its lowest since January 2022, according to Trade Alert data.

☆ Top Canada banks RBC, National Bank's profits dip as bad debt provisions mount
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Profit from personal and commercial banking for RBC and National Bank in the quarter grew 5% and 13%, respectively. RBC earmarked C$381 million in provisions for credit losses (PCL), compared with a C$227 million release last year. National Bank reported C$87 million versus a C$41 million release a year ago. Shares of RBC, which agreed to buy HSBC's (HSBA.L) Canadian business on Tuesday, were down 1.4%, while National Bank fell nearly 4%. National Bank, on the other hand, posted an adjusted profit of C$2.08 per share, below analysts' expectation of C$2.24.

☆ Toronto market seen higher if economic downturn not too severe: Reuters poll
▼ + stars: | 2022-11-29 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

"If the downturn doesn't prove to be severe, equity markets could stabilize even as economic data and earnings underwhelm," said Angelo Kourkafas, an investment strategist at Edward Jones in St. Louis, Missouri. Canada's economy is likely to be particularly sensitive to higher rates after households borrowed heavily during the pandemic to participate in a red-hot housing market. "While corporate earnings will likely continue to decline for many industries, we see continued growth in earnings across most commodities," said Arthur Salzer, chief executive officer of Northland Wealth Management. Adding to investor enthusiasm, the TSX last Wednesday closed above the 200-day moving average for the first time since May 4. (Other stories from the Reuters global stock markets poll package:)Reporting by Fergal Smith; polling by Susobhan Sarkar and Sarupya GangulyOur Standards: The Thomson Reuters Trust Principles.

The Dow Jones industrial average (.DJI) for example had risen more than 10% in the last month and almost 20% since September. "Some of this is just a bit of consolidation from the last few weeks," she said, noting that stocks had taken a leg lower when Treasury yields gained and oil prices switched from red to green on Monday as the prospect of higher oil prices brought inflation concerns back to the forefront. Along with inflation trends, investors are also monitoring Federal Reserve commentary for any clues on its future rate hiking path. Earlier, U.S. crude oil futures had fallen to December 2021 levels on concerns about demand in China - the world's biggest crude importer. A view of a giant display of stock indexes, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, October 24, 2022.

☆ Wall St Week Ahead Stocks typically rally in December, investors have some caution this year
▼ + stars: | 2022-11-25 | by ( David Randall | ) www.reuters.com time to read: +5 min

September, meanwhile, is the worst month of average for stocks, with a 0.7% average decline. Gains would be welcomed by many investors after seeing the S&P 500 Index (.SPX) fall around 16% so far this year. Still, weighing on the market has been the U.S. Federal Reserve's actions to aggressively tighten interest rates to fight inflation. The average Santa rally has boosted the S&P 500 by 1.3% since 1969, according to the Stock Trader's Almanac. The painful double-digit declines in both U.S. stocks and bonds, meanwhile, have made both asset classes more attractive for long-term investors, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

"The uncertain lags and magnitudes associated with the effects of monetary policy actions on economic activity and inflation were among the reasons cited." Still, the implication that policymakers were stepping down from their break-neck pace of rate hikes lifted U.S. stock prices and sent Treasury yields lower. The yield on the 2-year Treasury note , the maturity most sensitive to Fed rate expectations, dropped to 4.49%. Contracts tied to the Fed's policy rate showed investors maintaining bets for a half-percentage-point increase at the Dec. 13-14 policy meeting. "The path forward for monetary policy is a battle between the 'various' and the 'several,'" said Brian Jacobsen, senior investment strategist with Allspring Global Investments in Menomonee Falls, Wisconsin.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.3%, after U.S. stocks ended the previous session with gains. Australian shares (.AXJO) were up 0.7%, with most gains coming from mining and resources giants as a result of higher oil prices. Case numbers in Beijing and Shanghai are steadily rising, prompting authorities to close some facilities. "The biggest story for investors in Asia is still the China reopening," said Suresh Tantia, Credit Suisse's senior investment strategist in Singapore. While the FTX exchange collapse continues to roil cryptocurrency markets, Bitcoin was 0.33% higher in Asian trading hours to $16,184.

☆ We expect a relief rally in tech growth sector, says Edward Jones' Mona Mahajan
▼ + stars: | 2022-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect a relief rally in tech growth sector, says Edward Jones' Mona MahajanMona Mahajan, senior investment strategist at Edward Jones, joins CNBC's 'Squawk Box' to break down her investment strategies ahead of the open.

☆ Instant View: UK finance minister Jeremy Hunt outlines budget
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +5 min

Much of Hunt's budget had been widely expected, meaning markets offered a muted reaction. Sterling fell against the dollar, while UK government bond prices also eased, but remained clear of the day's lows. FOREX: Sterling fell 0.9% against the dollar to $1.1809 from $1.1845 prior to the budget. MARCUS BROOKES, CHIEF INVESTMENT OFFICER AT QUILTER INVESTORS, LONDON:"Today’s Autumn Statement has painted a bleak picture for the UK... Markets originally reacted well to the steady hand of Jeremy Hunt. SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:"The austerity’s going to be welcome (to the Bank of England) purely because there’s going to be less support for UK consumers.

☆ Futures slip as investors assess mixed economic data
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures off: Dow 0.12%, S&P 0.12%, Nasdaq 0.07%Nov 17 (Reuters) - U.S. stock index futures edged lower on Thursday following mixed economic data this week, while chip designer Nvidia rose after reporting better-than-expected quarterly revenue. Peers Advanced Micro Devices Inc (AMD.O) and Intel Corp (INTC.O) added 1.2% and 0.4%, respectively. "Wall Street was rattled by a conflicting retail picture," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. This has added to expectations that higher rates will have to linger for a lot longer to make a difference." ET, Dow e-minis were down 41 points, or 0.12%, S&P 500 e-minis were down 4.75 points, or 0.12%, and Nasdaq 100 e-minis were down 8.75 points, or 0.07%.

The data showed retail sales rose 1.3% last month led by motor vehicles after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. Among S&P 500 sectors, retail (.SPXRT) and consumer discretionary (.SPLRCD) were down 1.9% and 1.7%, respectively. Declining issues outnumbered advancers for a 2.10-to-1 ratio on the NYSE and for a 2.41-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and two new lows, while the Nasdaq recorded 33 new highs and 56 new lows.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. Despite the sales warning from Target, latest data on U.S. retail sales suggested that consumer spending remained stable and could help to underpin the economy in the fourth quarter. The data showed retail sales rose 1.3% last month after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. ET, Dow e-minis were down 57 points, or 0.17%, S&P 500 e-minis were down 14.25 points, or 0.36%, and Nasdaq 100 e-minis were down 71 points, or 0.6%.

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