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☆ Global equity funds see first weekly inflow in 10 weeks
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

Jan 13 (Reuters) - Global equity funds drew their first weekly inflow in 10 weeks in the week to Jan. 11 on hopes of easing inflation and expectations that China's re-opening would boost global economies. Refinitiv Lipper data showed global equity funds attracted $5.17 billion in net purchases, for their first weekly inflow since Nov. 2. European and Asian equity funds received $7.35 billion and $1.54 billion worth of inflows, but investors exited U.S. funds worth $2.01 billion. Fund flows: Global equity sector fundsEquity funds focused on China accumulated $1.61 billion worth of inflows, the biggest since July 6. Data for 24,627 emerging market (EM) funds showed, bond funds secured $730 million in net buying, while equity funds drew $3.94 billion, the biggest weekly inflow since April 2022.

☆ Guinness Global Investors CIO says buying the current rally is a risk
▼ + stars: | 2023-01-12 | 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 EmailGuinness Global Investors CIO says buying the current rally is a riskInvestors should be wary of the equity rally and look for structural growth themes, says Edmund Harriss, chief investment officer at Guinness Global Investors.

☆ These under-the-radar bank stocks are among Wall Street’s favorites as earnings season begins
▼ + stars: | 2023-01-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Several big banks will kick off earnings season for the sector on Friday, yet it's the smaller, under-the-radar names that are most loved by Wall Street. For instance, only 54% of analysts covering Bank of America say the stock is a buy, while 58% of those covering JPMorgan rate it a buy, according to FactSet. To find bank stocks expected to outperform this year, CNBC Pro screened for the names most loved by analysts. They also have at least 8 analysts covering them. About 80% of the analysts covering the stock give it a buy rating, including Piper Sandler's John Barnidge.

☆ European markets head for positive open; U.S. inflation data to come
▼ + stars: | 2023-01-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are expected to open higher as global investors gear up for the December reading of U.S. consumer prices on Thursday. U.S. stock futures were little changed in overnight trading Wednesday and Asia-Pacific shares were mixed as investors awaited the key inflation report to gauge the outlook for the U.S. Federal Reserve's rate-hiking campaign. Economists expect the U.S. consumer price index to dip 0.1% for December but rise 6.5% year over year, compared with a 0.1% monthly gain in November and an annual pace of 7.1%, according to Dow Jones. The CPI is well off the 9.1% peak rate in June.

Powell is likely to say the Fed will keep raising rates until it sees inflation is under control, Matousek added. Money market bets pointed to a 77% chance of a 25-bps hike to 4.50%-4.75% in the Fed's upcoming policy meeting, with the terminal rate seen slightly below 5% by June. ET, Dow e-minis were down 162 points, or 0.48%, S&P 500 e-minis were down 19.5 points, or 0.5%, and Nasdaq 100 e-minis were down 76.75 points, or 0.69%. Bed Bath & Beyond Inc (BBBY.O) gained 11% after the home goods retailer posted lower quarterly expenses driven by aggressive cost reduction initiatives. Reporting by Ankika Biswas and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Financial assets are fighting the Fed and winning, John Hancock's Emily Roland
▼ + stars: | 2023-01-10 | 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 EmailFinancial assets are fighting the Fed and winning, John Hancock's Emily RolandSeema Shah, chief global strategist at Principal Global Investors, and Emily Roland, co-chief investment strategist at John Hancock Investment Management, join 'Squawk Box' to discuss what they expect from Jerome Powell's upcoming comments and how the market will respond.

☆ Standard Chartered becomes first foreign bank to trade bond futures in China
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 5 (Reuters) - Standard Chartered Plc's (STAN.L) China unit said it had become the first foreign bank to trade treasury bond futures in the country which is deregulating capital markets. The move comes as China steps up efforts to draw global investors amid months of foreign money outflows from its $20-trillion bond market. In a statement on Wednesday, Standard Chartered Bank (China) Ltd said it had completed its first treasury bond futures transaction in China, with the permission of regulators. Treasury bond futures are a key tool to manage interest rate risks, and China's opening-up of the market will allow foreign investors to better participate in its onshore bond market and promote yuan internationalisation, the bank said. In February 2022, Standard Chartered said it would invest $300 million in China-related businesses over the next three years and double the relevant profit contribution by end-2024.

☆ The UK will perform the worst out of the major developed economies in 2023, strategist says
▼ + stars: | 2023-01-04 | 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 EmailThe UK will perform the worst out of the major developed economies in 2023, strategist saysChief Strategist at Principal Global Investors Seema Shah expects a tough start to 2023 for the U.K. as household savings drop and the impacts of rate hikes are felt.

☆ Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
▼ + stars: | 2023-01-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

DUBAI, United Arab Emirates — Dubai on Wednesday announced a mammoth $8.7 trillion economic plan for the coming decade, aimed at turbocharging trade, foreign investment and its place on the map as a global hub. "Over 300,000 global investors are helping build Dubai into the fastest growing global city." Those include boosting foreign trade to 25.6 trillion dirhams from 14.2 trillion dirhams in the last decade, nearly doubling annual foreign direct investment to 60 billion dirhams yearly, and increasing government spending from 512 billion dirhams in the last decade to 700 billion in the next. The plan also aims to bring private sector investments up from 790 billion dirhams in the last decade to 1 trillion in the next and pledged 100 billion dirhams in annual contributions to the economy from digital transformation projects. The sheer size of the city's economic goals may draw some skepticism, but finance experts in Dubai believe they are achievable.

☆ European markets set for mixed open as uncertainty continues into 2023
▼ + stars: | 2023-01-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set for a mixed open as uncertainty continues into 2023, with investors assessing China's reopening and awaiting minutes from the latest U.S. Federal Reserve policy meeting. U.K. markets were closed Monday for a public holiday, but shares across the rest of the continent rose as euro zone manufacturing data indicated that the worst had passed for the 20-member currency bloc. Markets in Asia-Pacific were mixed overnight as investors weighed the short-term implications of the rise in coronavirus infections in China against the potential longer-term boost from the full reopening of the world's second-largest economy. Global investors will have one eye on the minutes from the Fed's December policy meeting, due to be published on Wednesday. The central bank hiked rates by 50 basis points in December following four consecutive 75 basis point increases, and markets will be keen to gauge the likely trajectory of monetary policy in 2023.

☆ China's Xi solidified grip on power during tumultuous 2022
▼ + stars: | 2022-12-29 | by ( Tony Munroe | ) www.reuters.com time to read: +5 min

It was a rare highlight for Xi in 2022, a tumultuous year capped by unprecedented street protests followed by the sudden reversal of his zero-COVID policy and coronavirus infections rampaging across the world's most populous country. Xi travelled abroad for the first since the start of the pandemic, meeting with Russian President Vladimir Putin in September. Later that month, protesters in cities across China took to the streets in opposition to nearly three years of stifling COVID-19 controls that were a signature Xi policy. Since the congress, China has reversed zero-COVID and said it will focus on stabilising its $17 trillion economy in 2023. The World Bank expects reopening of China's economy will lift growth to 4.3% in 2023 from its forecast of 2.7% for the current year.

Indian companies raised around 5.38 trillion rupees ($64.95 billion) through private placements in 2022, largely aided by the banking system's massive cash surplus, data showed. Public issues were only to the tune of around 80 billion rupees. Indian companies raised 127.1 billion rupees and 175.3 billion rupees through public issues in 2020 and 2021 respectively, SEBI data showed. Fundraising through private placement stood at 8 trillion rupees and 6.31 trillion rupees respectively. "I think public issues are rising because the repricing of bank fixed deposits was very gradual, while public issues are realigning to market realities much faster," said Sudhir Agrawal, executive vice president and fixed income fund manager at UTI Mutual Fund.

☆ ABBA's successful avatar show in London offers a glimpse at a daring new direction for live music
▼ + stars: | 2022-12-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +8 min

"Our ambition is to do another ABBA Voyage, let's say in North America, Australasia, we could do another one in Europe. Dave J Hogan | Getty Images Entertainment | Getty ImagesIt was also designed for flexibility. Promotional image for ABBA Voyage, the digital avatar-based live show currently running in London. For Cox, live shows that provide a "shared experience" like ABBA Voyage hold a greater appeal than headset-based virtual experiences, though there will certainly be more of those available in future. Frazer Harrison | Getty Images Entertainment | Getty Images

The amount of new public-sector debt investors will have to absorb in 2023 will be twice as much as the previous record a decade ago, BofA notes. As early as November, the ECB's bond market contact group cited the high amount of debt private investors would have to buy as the most frequently mentioned concern. JPMorgan, the leader for euro government debt sales, expects a fall. The biggest challenge for governments will be timing, Dutch debt office head Saskia van Dun told Reuters last week. They will also have to be careful when picking maturities to issue and compensate investors enough to buy the debt, investors said.

☆ Indian stocks top Asian markets, strong economic growth fuels hope
▼ + stars: | 2022-12-22 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

"Global investors, sovereign funds and other institutions are looking to raise exposure to India in their emerging markets portfolios. The world-beating stocks performance has helped India to double its weight in MSCI's emerging markets index to 16% from 2019, but overseas investors have missed out in the local rally. Foreign portfolio investors sold a net $18 billion this year of Indian assets but turned buyers in November and December. The IPO came after the government offloaded its decades-old, debt-laden flag carrier Air India to Tata Sons for $2.4 billion in enterprise value. Apple said it will manufacture iPhone 14 in India, while a key supplier Foxconn (2317.TW) plans to quadruple the workforce at its Indian plant, Reuters has reported.

☆ Yen eases as traders digest BOJ surprise policy tweak
▼ + stars: | 2022-12-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +2 min

In a surprise move, the BOJ on Tuesday decided to let long-term yields move 50 basis points either side of its 0% target, wider than the 25 basis point band previously, even as the central bank kept broad policy setting unchanged. The currency market is still digesting BOJ's policy tweak, said Carol Kong, a currency strategist at the Commonwealth Bank of Australia. Global investors have been betting on a change in policy from the central bank and will now be increasing their bets on bigger changes. The dollar index , which measures the greenback against yen and five other major currencies, was flat at 103.94. Elsewhere, the Australian dollar rose 0.18% versus the greenback at $0.669, while the kiwi fell 0.13% versus the greenback at $0.634.

Wall Street's main indexes continued their losing streak for a fourth straight session on Monday as investors shied away from riskier bets, worried that the Federal Reserve's interest rate hikes could push the U.S. economy into recession. The Fed has managed to slow the economy down so it's likely that earnings estimates (for Q4) are going to come down. Treasuries fell following the BOJ's shock move, with the benchmark 10-year Treasury yield rising to a three-week high of 3.66%. Earlier, data showed U.S. single-family homebuilding tumbled in November as higher mortgage rates continued to depress housing market activity. A slew of other economic data due this week including consumer confidence and core inflation will provide more clues to investors on future interest rate hikes.

☆ Futures subdued after BOJ's policy surprise
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: Dow climbs 0.12%, S&P up 0.01%, Nasdaq off 0.13%Dec 20 (Reuters) - U.S. stock index futures came under pressure on Tuesday after the Bank of Japan surprised global investors with a policy shift that would allow long-term interest rates to rise more. The BOJ decided to allow the 10-year bond yield to move 50 basis points either side of its 0% target, bigger than the previous 25 basis point band, against expectations of no change at its policy meeting. Treasuries fell following BoJ's shock move, with benchmark 10-year Treasury yield rising more than 8 basis points to a three-week high of 3.6676%. A slew of other economic data due this week including consumer confidence, existing home sales and core inflation will provide more clues to investors on future interest rate hikes. ET, Dow e-minis were up 41 points, or 0.12%, S&P 500 e-minis were up 0.25 points, or 0.01%, and Nasdaq 100 e-minis were down 14.25 points, or 0.13%.

☆ Sterling inches higher, heads for biggest quarterly gain since 2009
▼ + stars: | 2022-12-20 | by ( Harry Robertson | ) www.reuters.com time to read: +2 min

Currency traders were focused on the Japanese yen, which jumped after the Bank of Japan (BoJ) unexpectedly tweaked a key policy. Sterling was last up 0.1% against the dollar at $1.216, having fluctuated in and out of positive territory in morning trading in London. The euro was 0.15% higher against sterling at 87.49 pence, meanwhile, after falling earlier in the session. The BoJ surprised global investors by tweaking its bond yield control policy on Tuesday. It will now allow the 10-year bond yield to move 50 basis points either side of its 0% target, from 25 basis points previously.

☆ KraneShares CIO believes domestic consumption is where Chinese policy is headed
▼ + stars: | 2022-12-16 | 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 EmailKraneShares CIO believes domestic consumption is where Chinese policy is headedBrendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the delisting risk to bring China institutional investors back to U.S. listings and the significant policy pivot around China's zero-Covid policy.

☆ China's re-opening to lift Asia equity capital market volumes from 3-year lows
▼ + stars: | 2022-12-16 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

SYDNEY, Dec 16 (Reuters) - Asian equity capital markets activity, languishing at three-year lows now, is set to get a much needed boost in 2023 from China's expected re-opening to the rest of the world after a spate of COVID-19 lockdowns, dealmakers said. "As China's re-opening happens, market activity will come in stages," said Edward Byun, Goldman Sachs' co-head of equity capital markets in Asia ex-Japan, adding that secondary market trading and follow-on capital raisings would benefit first. IPOs in Asia Pacific, including Japan, fell by 43.3% this year in value terms, while total equity capital market deals plunged 52%, according to Refinitiv data. New share sales in Hong Kong plunged 74% to $7.4 billion this year from $28.17 billion in 2021, Refinitiv data showed. In India, IPOs were down nearly 60% to $7.13 billion from $17.05 billion, the Refinitiv data showed.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.

☆ Treasury yields fall slightly as markets digest Fed outlook
▼ + stars: | 2022-12-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Treasury yields were slightly lower in the early hours of Thursday, as markets digested the Federal Reserve's 50 basis point rate hike and signals that it will continue lifting rates to rein in inflation. The yield on the benchmark 10-year Treasury note was down by around 2 basis points at 3.4790%, while the yield on the 30-year Treasury bond slipped by a similar amount to 3.5170%. The Fed's hike on Wednesday marked a slowdown from the previous four increases of 75 basis points. It also projected that the "terminal rate" will rise to 5.1% before the end of the hiking cycle. Auctions will be held on Thursday for $45 billion each of 4-week and 8-week Treasury bills.

☆ European Central Bank set for 50 basis point rate hike on hopes that inflation has peaked
▼ + stars: | 2022-12-14 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

Quantitative tightening, or QT, could see the ECB shrink its gigantic bond portfolio. "We expect the ECB to raise its policy rates by 50 bp at the December meeting," said Michael Schumacher, an ECB watcher with Natixis, in a recent research note. "We also expect an announcement of Quantitative Tightening next year, though the ECB is unlikely to provide a specific start date at this point." Another hot topic for the ECB's Governing Council, which concludes its meeting Thursday with a press conference, will, of course, be inflation and possible peak inflation. "While Inflation likely peaked in October, we see core inflation lingering above 5% until mid 2023 before trending lower," said Anatoli Annenkov at Societe Generale in a recent research note.

☆ The Fed will raise rates again. But it’s playing with fire
▼ + stars: | 2022-12-11 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. The Fed bumped up rates by three-quarters of a percentage point in the past four meetings (June, July, September and November). The more widely watched Consumer Price Index data for November comes out Tuesday, just a day before the Fed announcement. Jones still thinks the Fed will raise rates by only half a point this week and may look to hike them just a quarter point in early 2023. It seems likely that the Fed will cut its GDP target and raise its expectations for the jobless rate and consumer prices.

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