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☆ Asia stocks snap winning streak, await RBA
▼ + stars: | 2023-11-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsSINGAPORE, Nov 7 (Reuters) - Asian stocks snapped a three-day winning streak on Tuesday, slipping as the bond market's rally paused and investors reined in enthusiasm about a possible peak in global interest rates. Focus is on whether Australia's central bank turns odd man out and raises rates, with a policy decision due at 0330 GMT. Overnight the dollar had rallied with a rise in U.S. Treasury yields, leaving the Australian dollar under gentle pressure at $0.6495 in morning trade in Asia. Aussie government bond futures fell slightly and the ASX200 (.AXJO), which had gained five sessions in a row, slipped 0.4%. Ten year yields rose 10 bps on Monday, but had fallen almost 30 bps last week.

Persons: Kim Kyung, Ben Bennett, Alan Ruskin, George Saravelos, Commonwealth Bank analyst Carol Kong, Gold, bitcoin, Ankur Banerjee Organizations: Tokyo Stock Exchange, REUTERS, Rights, Reserve Bank of Australia, Treasury, Japan's Nikkei, U.S . Federal Reserve, Nasdaq, Legal, General Investment Management, U.S, Deutsche Bank, Commonwealth Bank analyst, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Taiwan, East, Russia, Australia, Saudi Arabia, Singapore

☆ Fed’s Neel Kashkari Not Convinced Rate Hikes Are Over
▼ + stars: | 2023-11-07 | by ( Bob Fernandez | ) www.wsj.com time to read: 1 min

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said he has concerns about inflation “ticking up again. That’s what I’m worried about.” Photo: MIKE SEGAR/REUTERSA top Federal Reserve official said he would err on the side of overtightening monetary policy rather than not doing enough to bring inflation down to the central bank’s 2% target. “Undertightening will not get us back to 2% in a reasonable time,” Neel Kashkari , the president of the Federal Reserve Bank of Minneapolis, said in an interview with The Wall Street Journal on Monday.

Persons: Neel Kashkari, MIKE SEGAR, Undertightening, ” Neel Kashkari Organizations: Federal Reserve Bank of, ”, REUTERS, Federal, Wall Locations: Federal Reserve Bank of Minneapolis

☆ Dollar steady as risk rally eases, RBA in focus
▼ + stars: | 2023-11-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The Australian dollar was 0.23% lower at $0.6474, but remained close to the three-month peak of $0.6523 touched on Monday. "I think the RBA will probably reiterate its tightening bias," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "But I think it's still too early to say the latest easing in the dollar will be sustained. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan, Thomson Locations: Rights SINGAPORE, Tokyo, Singapore

☆ Kashkari: Fed has more work to do to control inflation
▼ + stars: | 2023-11-07 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Nov 6 (Reuters) - Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday that the U.S. central bank likely has more work ahead of it to control inflation. “The economy has proved to be really resilient even though we’ve raised interest rates a lot over the past couple of years. Kashkari's comments suggested he is still leaning toward raising interest rates again. But with price pressures falling, many in markets believe the Fed is done with raising rates.

Persons: Neel Kashkari, Mike Segar, we’ve, Kashkari, Michael S, Leslie Adler, Matthew Lewis Organizations: Federal Reserve Bank of Minneapolis, Reuters, REUTERS, Fox News, Fed, Derby, Thomson Locations: New York City , New York, U.S, New York

☆ CNBC Daily Open: Markets are on a hot streak
▼ + stars: | 2023-11-07 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China imports surpriseChina's imports unexpectedly rose in October from a year ago, but exports recorded a worse-than-expected drop. Data showed imports rose by 3% in U.S. dollar terms for the month, above a Reuters' forecast for a 4.8% drop. [PRO] Growth stocks that are set for bigger leapsHigher-for-longer interest rates are bad for growth stocks but, investor hopes were reignited after the U.S. Federal Reserve kept rates unchanged for the second consecutive meeting.

Persons: Jane, OpenAI Organizations: CNBC, Dow Jones, Dow, Reserve Bank of Australia, Bora, Microsoft, U.S . Federal Reserve, CNBC Pro Locations: U.S, Asia, South, China

☆ EUROPE Australia hikes but tempers its outlook
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. The Aussie dollar fell more than 0.8% and Australian government bonds rallied because the 25 basis point hike by the Reserve Bank of Australia came with a softening of language on whether further hikes would be needed. It was an otherwise quiet session in the absence of major updates that might have consequences for the interest rate outlook. Last week's chaos in Chinese money markets has subsided but it left behind a glimpse of financial pressures beneath the surface and the challenges around China's uneven recovery from the COVID-19 pandemic. British house prices, German industrial output and European producer prices are due later on Tuesday, as are earnings from UBS (UBSG.S).

Persons: Daniel Munoz, Tom Westbrook, Read, SoftBank, Benjamin Netanyahu, Fed's Waller, Logan, Schmid, ECB's de, Edmund Klamann Organizations: Reserve Bank of Australia, REUTERS, Bond, South, Read Reuters, UBS, 163rd Melbourne, NY, Thomson Locations: Sydney, Australia, Asia, Japan, British, Gaza

☆ RBA's rate hike: Inflation is 'too high for comfort,' CIO says
▼ + stars: | 2023-11-07 | 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 EmailRBA's rate hike: Inflation is 'too high for comfort,' CIO saysDaniel Murray, deputy CIO at EFGAM, discusses the Reserve Bank of Australia's interest rate hike.

Persons: Daniel Murray Organizations: EFGAM, Reserve Bank

☆ Americans’ debt levels — and delinquencies — are on the rise
▼ + stars: | 2023-11-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

The increases in credit card delinquency were the sharpest among borrowers in the range of 30 to 39 years old, according to the New York Fed. Newly delinquent auto loan balances continued to climb, as well, with transitions into serious delinquencies hitting 13-year highs, survey data showed. Still, thanks mostly to higher-quality mortgage loans, overall delinquencies remain below pre-pandemic levels, New York Fed researchers said. Credit card balances, which in the second quarter surpassed the trillion-dollar mark for the first time, continued to grow at historic rates. This year is on pace to have the lowest origination values since 2014, New York Fed data shows.

Persons: ”, Donghoon Lee, “, Mortgage originations Organizations: Minneapolis CNN, Federal Reserve Bank of New, New York Fed, ” New York Fed, Mortgage Locations: Minneapolis, New, New York

☆ Asia-Pacific markets fall ahead of China trade data, RBA rate decision
▼ + stars: | 2023-11-07 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Photo: Carola Frentzen/dpa (Photo by Carola Frentzen/picture alliance via Getty Images)Asia-Pacific markets fell Tuesday ahead of trade data coming out of China, as well as a rate decision by the Reserve Bank of Australia. Australia's S&P/ASX 200 traded 0.22% lower ahead of the central bank's rate decision. Economists polled by Reuters expect the central bank to raise its key policy rate by 25 basis points to 4.35%. In Japan, the Nikkei 225 slipped 0.5% in its first hour of trade, while the Topix shed 0.39%. South Korea's Kospi fell 1.66%, easing off Monday's gains when the index posted its best session since late March 2020 after the country re-imposed a ban on short selling.

Persons: Carola Frentzen, Australia's, Korea's Kospi Organizations: Opera, Getty Images, Reserve Bank of Australia, Reuters, Nikkei Locations: Sydney, Asia, Pacific, China, Japan

Nov 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets on Wednesday should be well-placed to bounce back from the previous day's declines, supported by another positive showing on Wall Street that secured the S&P 500's and Nasdaq's longest winning streak in two years. Tuesday's slide in U.S. Treasury yields will also support risk appetite in Asia, although some of that could be tempered by the dollar's resilience. With little on the regional economic data and policy events calendar to give markets a steer, investors will probably take their cue from Wall Street. The mostly cautious tone from U.S. policymakers on Tuesday should also help support sentiment in Asia on Wednesday.

Persons: Jamie McGeever, WeWork, Softbank, Fed's Powell, Williams, Barr, Cook, Josie Kao Organizations: Treasury, Nasdaq, Monetary Fund, IMF, Aussie, Reserve Bank of, Japan FX, Thomson, Reuters Locations: U.S, Asia, China, Beijing, Reserve Bank of Australia, Jefferson, Japan

☆ Why the U.S. won't change physical cash
▼ + stars: | 2023-11-07 | by ( Mark Licea | ) www.cnbc.com time to read: +2 min

The Federal Reserve will spend $931.4 million to print bills in 2023 — but there's a problem with U.S. cash. Physical currency has been updated around the world but not in the U.S., and while an increasing number of Americans are ditching cash for electronic payments, experts say cash isn't going away. In 2017, the $100 bill surpassed the $1 bill as the most popular currency denomination. Some speculate that the rise in $100 bills in circulation may be to avoid taxes or for illegal activity. … In the 1960s, the half dollar lost its place because it wasn't included in the use of parking meters," said Mudd.

Persons: Aaron Klein, Douglas Mudd, Franklin Noll, Mudd Organizations: Federal Reserve, Brookings Institute, CNBC, American Numismatic Association, Federal Reserve Bank of Kansas City Payments, U.S Locations: U.S

☆ Chaos as Optus Outage Disconnects Half of Australia
▼ + stars: | 2023-11-07 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

"Because of the outage it won't load," Rogers told Reuters while he was waiting at the pharmacist for the internet to return. Optus, which is owned by Singapore Telecommunications, gave no explanation for the outage except to say it was investigating it. Until then, even taking a walk became more difficult, at least for people who needed directions. An office worker from Sydney told Reuters he could not get into his building because the door required an internet-connected smartphone application to unlock. ($1 = 1.5538 Australian dollars)(Reporting by Byron Kaye with additional reporting by Kirsty Needham and Sam Holmes; Editing by Stephen Coates)

Persons: Byron Kaye SYDNEY, Chris Rogers, Rogers, I've, Michael Clements, Angela Ican, we've, Roderick Geddes, Byron Kaye, Kirsty Needham, Sam Holmes, Stephen Coates Organizations: Optus, Reuters, Reserve Bank of Australia, Royal Australian College of General, Singapore Telecommunications, Sydney Locations: Sydney

☆ Asia stocks snap winning streak, Aussie slips
▼ + stars: | 2023-11-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2% following a three-day rally that lifted the benchmark by nearly 6%. South Korean shares (.KS11) fell 3% as traders unwound some of Monday's surge on the reimposition of a short-selling ban. Treasuries were broadly steady in Asia, having unwound a little of last week's rally on Monday. Ten-year yields hovered at 4.92% - about 10 basis points above where they closed on Friday, but below where they were a week earlier. "It was a dovish hike...it's not pointing to any immediate need for a follow-up," said RBC Capital Markets rates strategist Rob Thompson on the phone from Sydney.

Persons: Kim Kyung, Nicholas Chia, it's, Rob Thompson, Alan Ruskin, George Saravelos, Gold, bitcoin, Ankur Banerjee, Lincoln Organizations: Tokyo Stock Exchange, REUTERS, Rights, Reserve Bank of Australia, South, Japan's Nikkei, Shanghai, Nasdaq, Standard Chartered, Fed, Capital Markets, U.S, Deutsche Bank, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Australia, Asia, Pacific, Sydney, Taiwan, East, Russia, Saudi Arabia, Singapore

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Federal Reserve Bank of Minneapolis President Neel Kashkari doused hopes of early rate cuts late on Monday, saying the central bank likely has more work ahead of it to control inflation. Market participants will parse commentary from Fed Board Governor Christopher Waller and New York Fed President John Williams later on Tuesday for more clues on the central bank's interest rate path. Uncertainty about the timing of potential rate cuts and some dismal corporate forecasts for the fourth quarter have cast a doubt on whether there could be a year-end rally for stocks. ET, Dow e-minis were down 106 points, or 0.31%, S&P 500 e-minis were down 14.5 points, or 0.33%, and Nasdaq 100 e-minis were down 43.25 points, or 0.28%.

Persons: Brendan McDermid, Neel Kashkari, Christopher Waller, John Williams, Jerome Powell's, Ipek Ozkardeskaya, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Federal Reserve Bank of Minneapolis, Treasury, U.S, Fed, New York Fed, Swissquote Bank, EBay, Dow e, Exxon Mobil, Chevron, Occidental Petroleum, Intel, Thomson Locations: New York City, U.S, China

The company's shares cost more than $400 two years ago but now cost less than $1. Australia's S&P/ASX 200 fell 0.3% to 6,977.10 after the central bank raised its key interest rate by 0.25 percentage points, to 4.35%. Elsewhere in Asia, shares rose in Taiwan but fell in Bangkok and Mumbai. Last week, the Federal Reserve held its main interest rate steady for a second straight time, leaving it at its highest level since 2001. It’s jacked up its federal funds rate from nearly zero in hopes of getting high inflation under control.

Persons: Korea’s Kospi, WeWork, Australia's, RBA, It’s, Brent Organizations: —, Tokyo's Nikkei, Reserve Bank of Australia, Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Hong Kong, Tokyo, Shanghai, China, it's, Seoul, Taiwan, Bangkok, Mumbai, U.S, Saudi Arabia, Russia

☆ Dollar steady as risk rally eases, Reserve Bank of Australia in focus
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +3 min

A man walking past the Reserve Bank of Australia in the central business district of Sydney on June 7, 2022. The dollar was steady on Tuesday, holding overnight gains as investors took a breather from a risk rally, while the Australian currency drifted lower ahead of a central bank interest rates decision later in the day. All eyes in Asian hours will be on the Reserve Bank of Australia, which is widely expected to raise rates by 25 basis points, snapping four months of on hold policy decisions. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead of it to control inflation. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda Organizations: Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan Locations: Sydney, Tokyo

☆ Dollar rebounds, Fed officials take center stage
▼ + stars: | 2023-11-06 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

Comments from other Fed officials will also be evaluated for signs on whether they expect further rate increases. “Next week’s CPI print is going to be the best adjudicator we have on whether or not the Fed needs to hike rates again,” said Rai. The dollar index was last up 0.13% on the day at 105.19 after earlier dropping to 104.84, the weakest since Sept. 20. The yen hit 151.74 per dollar last week, edging close to October 2022 lows that spurred several rounds of dollar-selling intervention by the Bank of Japan. The Australian dollar fell 0.34% to $0.6491, after earlier reaching a three-month high of $.6523.

Persons: Dado Ruvic, Jerome Powell, ”, Bipan Rai, Lisa Cook, “, Rai, Dane Cekov, Cekov, Karen Brettell, Samuel Indyk, Jonathan Oatis, Aurora Ellis Organizations: REUTERS, U.S, Federal, CIBC Capital Markets, Market Committee, Fed, Bank of Japan, Reserve Bank of Australia, Thomson Locations: North American, Toronto, U.S, London

☆ Australia Thought It Was Done Raising Interest Rates. It Wasn’t.
▼ + stars: | 2023-11-06 | by ( James Glynn | ) www.wsj.com time to read: 1 min

Michele Bullock, governor of the Reserve Bank of Australia, said Tuesday, ‘Inflation in Australia has passed its peak but is still too high.’ Photo: Lisa Maree Williams/Bloomberg NewsSYDNEY—The Reserve Bank of Australia raised interest rates in response to stubbornly high inflation, ending a four-month pause and diverging from other major central banks that have signaled they might have price pressures under control. The increase takes Australia’s official cash rate to 4.35%, from 4.10%, representing its highest level in more than a decade. The move was widely expected by economists after inflation in the three months through September showed prices of services, fuel, and rents climbing again.

Persons: Michele Bullock, Lisa Maree Williams Organizations: Reserve Bank of Australia, Bloomberg News SYDNEY, The Reserve Bank of Australia Locations: Australia

☆ Morning Bid: Rate cut prospects fuel stock rally
▼ + stars: | 2023-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Nov 6 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been an upbeat start to the week in Asia as markets cast aside concerns about rate hikes, and go straight to pricing in early cuts. Futures imply an 80% probability the ECB will begin easing as soon as April, and the first BoE rate cut is almost fully priced for August. An outlier here is the Reserve Bank of Australia (RBA) which might well resume hiking on Tuesday after four months of steady policy outcomes. But expectations were already so low that it's the dollar that has all the downside in the disappointment stakes.

Persons: Wayne Cole, It's, BoE, Ueda, Jerome Powell, Christine Lagarde, Huw Pill, Lisa Cook, Sam Holmes Organizations: Federal, ECB, Bank of Japan, Reserve Bank of Australia, Atlanta, EU, Bank of England, Federal Reserve, Thomson Locations: Wayne, Asia, South Korea, Europe

☆ India rupee to rally after data reaffirms Fed done with rate hikes
▼ + stars: | 2023-11-06 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 6 (Reuters) - The Indian rupee is expected to rise at open on Monday after softer-than-expected U.S. jobs data reinforced expectations that the Federal Reserve will not hike interest rates further. Non-deliverable forwards indicate the rupee will open at around 83.08-83.12 to the U.S. dollar compared with 83.2850 in the previous session. Asian currencies extended last week's advance after the dollar index slumped on Friday following data that indicated that the U.S. labor market was cooling. "Last week’s Fed meeting and latest data flow suggest the rate hike cycle is most likely over. "It's to be fully expected that the rupee will underperform in times when the dollar is under stress," the forex trader said.

Persons: Nimesh Vora, Mrigank Organizations: Federal Reserve, U.S, Reuters, Treasury, Fed, DBS Research, Korean, Malaysian, Reserve Bank of, Brent, Thomson Locations: MUMBAI

The funds available for deals are growing as investors including pension funds, sovereign wealth and insurance firms look for meaty returns hard to find in today's equity markets, especially in the beaten-down real estate sector. Australian real estate specialist Qualitas (QAL.AX), whose backers include the Abu Dhabi Investment Authority, has nearly doubled funds under management to A$8 billion ($5.07 billion) since mid-2022, with roughly half the increase since this June. U.S.-based PGIM Real Estate expects to deploy a further $1 billion in the country over the next few years, said its head of Australian real estate Steve Bulloch. Lenders are expanding into residential and commercial construction as banks slow lending or exit, a March report from the Reserve Bank of Australia (RBA) said. JUICY RETURNSInvestors can expect returns from 9% to 11% with the added security of loans pledged against real assets like condos or warehouses, often with a 30% to 40% equity buffer, said Paul Notaras, executive director at Barings Real Estate Australia.

Persons: Stella Qiu, meaty, Steve Bulloch, JUICY, Paul Notaras, Notaras, Qualitas, Andrew Schwartz, Bonds, We've, Schwartz, Lewis Jackson, Rae Wee, Jamie Freed Organizations: REUTERS, Abu, Abu Dhabi Investment Authority, Commonwealth Bank, National Australia Bank, Westpac, ANZ Group, International Monetary, Reserve Bank of Australia, Australia, prudential, Reuters Graphics Reuters, Thomson Locations: Parramatta, Sydney, SYDNEY, Australian, Abu Dhabi, Australia, Qualitas, Singapore

☆ Stocks week ahead: Here’s how America’s economy could begin to weaken
▼ + stars: | 2023-11-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The job market or spending? The spending argument: But there have been instances in which spending weakened before the job market. “I think it starts with the perception of the labor market,” Drew Matus, chief market strategist at MetLife Investment Management, told CNN. The ticket-industry giant said it has sold a record 140 million tickets so far this year, up 17% year-over-year and has already surpassed the 121 million tickets sold in all of 2022. In the third quarter, Ticketmaster sales surged 57% to $833 million and 90 million fee-bearing tickets were sold in the period.

Persons: can’t, ” Shannon Seery, “ It’s, ” Seery, Luke Tilley, ” Tilley, Jerome Powell, ” Drew Matus, ”, Taylor Swift, Parija Kavilanz, Swifties, Taylor, Michael Rapino, Beyoncé, Harry Styles, Bunny, Jonas Brothers, Bruce Springsteen, Lisa Cook, Michael Barr, Jeffrey Schmid, Christopher Waller, John Williams, Lorie Logan, Ralph Lauren, Steve Madden, Phillip Jefferson, Raphael Bostic, Tom Barkin, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, CNN, Employers, Investment Advisors, Companies, National Bureau of Economic Research, CNN Wednesday, Federal, MetLife Investment Management, Ticketmaster, Ryanair, Goodyear, Fed, Reserve Bank of Australia, Uber, Occidental Petroleum, KKR, The Carlyle Group, US Commerce Department, Biogen, Warner Bros, Teva Pharma, The New York Times Company, Armour, SeaWorld, MGM Resorts, China’s National Bureau of Statistics, Sony Group, Astrazeneca, Tapestry, News Corp, US Labor Department, Soho House, National Statistics, European Central Bank, University of Michigan Locations: Washington, Wells, Wilmington, Lyft, Brookfield, Soho

A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, February 3, 2020. The regional economic and policy events calendar this week is jammed with top-tier releases which are sure to give local assets strong steers, especially from China. China's economic surprises index turned positive three weeks ago but despite stronger-than-expected third quarter GDP growth, that momentum has faded. This week's 'data dump' will give a clearer picture of how the economy started the fourth quarter. Indonesia's quarter-on-quarter growth rate is expected to more than halve to 1.71% from 3.86%, according to a Reuters poll, and annual growth is expected to essentially hold steady just above 5%.

Persons: Jason Lee, Jamie McGeever, Josie Kao Organizations: People's Bank of China, REUTERS, Reserve Bank, Reuters, Bank of Korea, Bank of Japan, Nikkei, Thomson Locations: Beijing, China, Asia, U.S, Thailand, Philippines, Taiwan, Hong Kong, Indonesia, Indonesian, Japan

☆ A CIO managing $40 million warns most stock-market investors are in danger of losses as high interest rates begin to stifle the economy and risk-free Treasury yields offer 5%
▼ + stars: | 2023-11-04 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Treasury rates are now elevated across the board as the yield curve begins to flatten out with longer-term rates continuing to rise. Here's the current equity-risk premium, which is how much the S&P 500 is expected to return annually over the next decade in excess of the 10-year Treasury note. As for downward pressure on the economy, Mulholland said the effects of higher interest rates would continue to show up in several ways. Businesses will be more hesitant to borrow money to expand as much amid higher rates, Mulholland said, and banks will be less likely to lend money. "Investors who make regular withdrawals or have large liquidity needs on the horizon would be smart to reduce stock market exposure now," Mulholland said.

Persons: Stephen Mulholland, it's, Mulholland, Rosenberg, Stocks, Louis Organizations: Mulholland, Federal Reserve, Rosenberg Research, US Treasury Bills, Federal Reserve Bank of St, of Labor Statistics, Conference Locations: Fed's, American

☆ Fed's Bostic, cheered by jobs data, still leans against further rate hikes
▼ + stars: | 2023-11-03 | by ( Michael S. Derby | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 3 (Reuters) - Federal Reserve Bank of Atlanta President Raphael Bostic, weighing in after the release of the latest round of jobs data, said on Friday that the economy's current path appears to indicate that further interest rate increases will not be required. Even so, he said, "there's still a lot that’s going to happen between now and even the next meeting. The jobs report came after the Fed earlier this week held its short-term interest rate target at the 5.25% to 5.5% level it has been at since late July. The Fed preserved the option to raise rates further but most investors believe it won't, and the jobs data helped bolster the case for no further action. Bostic said he is not looking for the U.S. to have a recession as part of his current forecast.

Persons: Raphael Bostic, Bostic, We're, I'm, Michael S, Daniel Wallis Organizations: Federal Reserve Bank of Atlanta, Fed, Thomson

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