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☆ Oil prices climb in relief rally as banking concerns ease
▼ + stars: | 2023-03-27 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, March 27 (Reuters) - Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. The rise in oil prices was more a relief rally and part of a correction after a 16% fall in the prior two weeks, he added. Prices were also supported after President Vladimir Putin said he will station tactical nuclear weapons in Belarus, escalating geopolitical tensions in Europe over Ukraine. Russia's Deputy Prime Minister Alexander Novak said on Friday that Moscow was very close to achieving its target of cutting crude output by 500,000 barrels per day (bpd) to around 9.5 million bpd. Despite lowering output, Russia is expected to maintain crude oil exports by cutting refinery output in April, data from industry sources and Reuters calculations showed on Friday.

☆ Regular investors are set to dump stocks in a big way, Goldman says. Where they're going instead
▼ + stars: | 2023-03-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Instead, those investors will put money into credit and money market assets, analyst Cormac Conner said in a note Wednesday. In addition, it also tests the model against household equity demand less its estimate of hedge fund net equity demand. "Regardless of which of these household demand series we use, household equity demand tends to increase when the savings rate rises and decreases when 10-year yields fall," Conner explained. The firm also predicts the personal savings rate will rise from 4.5% to 5.3% as high interest rates in money market funds attract those searching for income. The average yield on the Crane Data's Crane 100 Money Fund Index , comprising the 100 largest taxable money funds, is 4.42%.

☆ US households will sell $750 billion in stocks this year amid higher rates and sticky inflation, Goldman Sachs says
▼ + stars: | 2023-03-23 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Goldman Sachs estimates that US households are likely to sell $750 billion of stocks in 2023. A higher-than-expected savings rate and the rise in bond yields are driving the shift. A higher-than-expected savings rate and the rise in bond yields are leading the shift. After more than a decade of low interest rates, investors are now looking towards fixed income and yield-bearing assets while the Fed continues to fight high inflation. "In the absence of household equity buying, foreign investors and corporations will be net buyers of $550 billion and $350 billion US equities, respectively," the note reads.

☆ Gold prices could notch an all-time high soon — and stay there
▼ + stars: | 2023-03-22 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Investors have been flocking to gold and Treasurys as bank stocks have been whacked by the shuttering of Silicon Valley Bank and Credit Suisse's implosion. Gold prices have more room to run as global banks struggle and the U.S. Federal Reserve renders another interest rate decision, potentially breaking all-time highs — and staying there. Investors have been flocking to gold and Treasurys as bank stocks have been whacked by the shuttering of Silicon Valley Bank and Credit Suisse's implosion. Gold has risen around 10% since early March when SVB was hit by a bank run. "Continued central bank buying of gold bodes well for long-term prices," said CEO Randy Smallwood of Wheaton Precious Metals, a precious metals streaming company.

☆ Elizabeth Warren demands Fed crackdown on large regional banks
▼ + stars: | 2023-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. Both Silicon Valley Bank and Signature Bank fit into that asset threshold when they failed earlier this month. The bipartisan 2018 rollback of Dodd-Frank freed large regional banks in that range of assets from the toughest oversight. Notably, the letter was signed by Senator Angus King, the Maine independent who voted in favor of the 2018 rollback. Days after the bank failures, the Federal Reserve launched a review of the regulation and oversight of Silicon Valley Bank.

☆ Oil edges up on historic Swiss banks deal, central banks support
▼ + stars: | 2023-03-20 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, March 20 (Reuters) - Oil prices rose on Monday after suffering their biggest weekly loss in months as UBS struck a deal to buy Credit Suisse and some of the world's largest central banks sought to reassure and stabilise global financial markets. Brent crude futures rose 35 cents, or 0.5%, to $73.32 a barrel by 0007 GMT after a near 12% loss last week, its biggest weekly fall since December. Switzerland's largest bank, UBS, announced late on Sunday it will buy the country's No. Following the announcement, the U.S. Federal Reserve, European Central Bank and other major central banks pledged to enhance market liquidity and support other banks. The Swiss bank deal and central banks’ measures to inject liquidity into the markets are restoring market confidence, leading to a relief rally in risk assets, including the crude markets, CMC Markets analyst Tina Teng said.

Companies Signature Bank FollowSINGAPORE, March 17 (Reuters) - Oil prices firmed on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, but were headed for their biggest weekly falls since December as a banking crisis rocked global financial and oil markets. U.S. West Texas Intermediate crude went up by 21 cents to $68.53 a barrel, after closing 1.1% higher in the previous session. China's demand rebound will be positive for oil prices if upcoming data shows a good recovery of the country's economy, said analyst Tina Teng of CMC Markets. However, contagion risks among banks are still keeping investors on edge, curbing their appetite for assets such as commodities, as they fear a further rout could trigger a global recession and cut oil demand. These issues regarding inflation, the central bank's rate hikes, and confidence in financial systems cannot be settled quickly," Teng said.

Companies Signature Bank FollowSINGAPORE, March 17 (Reuters) - Oil prices rebounded by about 1% on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, after a banking crisis sparked a sell-off in global financial and oil markets this week. U.S. West Texas Intermediate crude climbed 78 cents to $69.13 a barrel, after closing 1.1% higher in the previous session. China's demand rebound will be positive for oil prices if upcoming data shows a good recovery of the country's economy, said analyst Tina Teng of CMC Markets. However, contagion risks among banks are still keeping investors on edge, curbing their appetite for assets such as commodities, as they fear a further rout could trigger a global recession and cut oil demand. These issues regarding inflation, the central bank's rate hikes, and confidence in financial systems, cannot be settled quickly," Teng said.

☆ Taylor Swift Fans Needed a Miracle. Here’s How They Got Tickets.
▼ + stars: | 2023-03-16 | by ( Joe Coscarelli | More About Joe Coscarelli | ) www.nytimes.com time to read: +1 min

When tickets for Taylor Swift’s first tour in nearly five years went on sale last November, Tina Studts, the mother of two young girls, thought she was well prepared. Her family had moved to Colorado from Kentucky in 2020, and adjusting amid a pandemic was tough, especially for her older daughter, Shannon, 15, who is autistic. But Swift had been Shannon’s “special interest” since elementary school, her mother said, and the vibrant fan culture around the pop star had provided a lifeline. With the holidays approaching, Studts knew that tickets to the stadium spectacle of Swift’s Eras Tour, which begins Friday in Glendale, Ariz., would give Shannon something to look forward to. Her daughter’s best friend from back home in Kentucky was even planning a surprise visit to Denver so they could all attend together.

Persons: Taylor Swift’s, Tina Studts, Studts, Ticketmaster’s, Shannon, Swift Organizations: Swift Locations: Colorado, Kentucky, Glendale, Ariz, Denver

☆ Trump wades into education culture war as he eyes race with DeSantis
▼ + stars: | 2023-03-14 | by ( James Oliphant | ) www.reuters.com time to read: +5 min

Trump hasn't been waging the same kind of cultural warfare over education that DeSantis and other Republicans have since the coronavirus pandemic. DeSantis was in Iowa on Friday, speaking at a pair of political events that appeared to be laying groundwork for a presidential bid. His education agenda in Florida was a recurring theme in his remarks, and DeSantis credited it as a reason that he convincingly won re-election last year. DeSantis has asked the Florida legislature to expand a ban on teaching gender-identity concepts to eighth grade from third grade currently. Some of Trump’s education ideas include rewarding teachers who teach “patriotic values” and requiring direct election of school principals by parents, although how he would bring that about is unclear.

☆ Trump looks to play catch-up to DeSantis on education in 2024 race
▼ + stars: | 2023-03-13 | by ( James Oliphant | ) www.reuters.com time to read: +5 min

The coronavirus pandemic gave rise to a host of hot-button issues surrounding education that have mobilized the Republican base in the years since Trump left the White House. DeSantis was in Iowa on Friday, speaking at a pair of political events that appear to be laying groundwork for a presidential bid. DeSantis has asked the Florida legislature to expand a ban on teaching gender-identity concepts to eighth grade from third grade currently. That could leave an opening for Trump, who made school choice a priority in his administration but lacks the track record on state-level education issues that DeSantis and other governors have. Terry Schilling, president of the American Principles Project, another conservative parents' rights group, said DeSantis getting out ahead of Trump on the issue should not hurt the former president.

☆ SVB collapse will have limited impact on Asia, but one analyst says it could be a warning sign
▼ + stars: | 2023-03-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

HANGZHOU, CHINA - MARCH 12, 2023 - Photo taken on March 12, 2023 shows the logo of SPD Silicon Valley Bank in Hangzhou, Zhejiang province, China. Future Publishing | Future Publishing | Getty ImagesAnalysts say the collapse of Silicon Valley Bank is not likely to have a major contagion effect in Asia, but one person says it could be seen as a "warning" — especially for economies that haven't hiked interest rates aggressively. It came after U.S. regulators announced measures to further stem systemic risks from Silicon Valley Bank's collapse. While a number of companies within Asia's venture capital and tech start-up sector do have exposure to Silicon Valley Bank, not many have openly admitted to seeing major losses from SVB's bankruptcy. SPD Silicon Valley Bank, a joint venture between Shanghai Pudong Bank and Silicon Valley Bank sought to reassure investors over the weekend and said its operations have been "independent and stable."

☆ Frank Sinatra musical looking at singer's life and career to open in UK
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 9 (Reuters) - A new musical about the life and career of legendary singer and performer Frank Sinatra will open in the British city of Birmingham later this year. "Sinatra The Musical" will debut at the Birmingham Rep on Sept. 23, coinciding with the 70th anniversary of the "Come Fly with Me" and "New York, New York" singer’s UK tour, during which he performed in the city. The musical will look at the impact his affair with actress Ava Gardner had on his career, and how he staged "the greatest comeback in showbiz history". "Growing up, there were two pictures hanging in my grandmother's kitchen -- The Pope and Frank Sinatra. "Sinatra The Musical", which has Olivier and Tony Award-winning director and choreographer Kathleen Marshall at the helm, will run until Oct. 28.

☆ Oil extends losses as rate hike concerns spur sell-off
▼ + stars: | 2023-03-08 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

U.S. West Texas Intermediate (WTI) crude futures slipped $1.11, or 1.4%, to $76.47 a barrel. "[We] expect the continued recovery in civil aviation demand in China and neighboring countries, a stabilisation in industrial activity and slower non-OPEC+ supply growth to drive the oil market balance into a deficit later this year," the bank added. Data from the API showed U.S. crude inventories fell by about 3.8 million barrels in the week ended March 3, according to market sources. The drawdown defied forecasts for a 400,000 barrel rise in crude stocks from nine analysts polled by Reuters. Meanwhile, gasoline inventories rose by about 1.8 million barrels, while distillate stocks rose by about 1.9 million barrels, according to the sources.

☆ Oil extends declines on rate hike concerns
▼ + stars: | 2023-03-08 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

Data from the American Petroleum Institute showed U.S. crude inventories fell by about 3.8 million barrels in the week ended March 3, according to market sources. The drawdown defied forecasts for a 400,000 barrel rise in crude stocks from nine analysts polled by Reuters. Meanwhile, gasoline inventories rose by about 1.8 million barrels, while distillate stocks rose by about 1.9 million barrels, according to the sources. Powell's comments had propelled the U.S. dollar, which typically trades inversely with oil, to hit a three-month high against a basket of currencies. The dollar index =USD rose as high as 105.65, up 1.3% on Tuesday and the highest since Dec. 6.

Brent crude futures rose 18 cents, or 0.2%, to $83.47 per barrel by 0452 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 4 cents to $77.62 a barrel. Data from the American Petroleum Institute showed U.S. crude inventories fell by about 3.8 million barrels in the week ended March 3, according to market sources. The drawdown defied forecasts for a 400,000 barrel rise in crude stocks from nine analysts polled by Reuters. Traders were awaiting crude inventory data from the U.S. Energy Information Administration later on Wednesday, after the API data showed a decline in crude inventories for the first time after a 10-week build, she added. Powell's comments propelled the U.S. dollar, which typically trades inversely with oil, to hit a three-month high against a basket of currencies.

☆ Google to launch fund to support Taiwan's media outlets
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Google has come under pressure in some countries to negotiate commercial deals and pay news publishers for their content, though not in Taiwan. Google said it will pay local publishers through what it calls a "Taiwan News Digital Co-prosperity Fund" to strengthen their digital publishing capability. The fund will help Taiwan local media "hone digital skills, gain expertise and support the sustainable development of Taiwan's news industry", the company said. "Even while Google faces many challenges in the overall international environment, Taiwan remains a crucial global stronghold," Tina Lin, managing director of sales and operations at Google Taiwan, told reporters in Taipei. Google said Taiwan's media industry has been facing major competitive challenges in adapting to the digital age, pointing out that advertising revenues for traditional media outlets have dropped 70% from 2003 to 2020.

☆ Here's why the 2-year note yield above 5% doesn't shake our conviction in stocks
▼ + stars: | 2023-03-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

But the Club's long-term outlook isn't swayed by this current bond market dynamic. Remember, bond yields moved in the opposite direction to bond prices. It was not, however, a great time to run away from stocks, Jim emphasized Wednesday. (There was of course the stock market crash in October 1987, which came to be known as Black Monday. (See here for a full list of the stocks Jim Cramer's Charitable Trust.)

☆ Wall Street Concedes There Is Finally an Alternative to Stocks
▼ + stars: | 2023-03-05 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Wall Street says it is done with TINA. For years after the 2008 financial crisis, investors held on to the belief that “there is no alternative” to stocks. Bond yields had hit rock bottom—they were even in negative territory in Japan and much of Europe. The stock market, especially in the U.S., seemed to be the best place to seek robust returns.

☆ The Fed's 2 percent goal will cause disruption in the labor market, says Xponance's Tina Byles Williams
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed's 2 percent goal will cause disruption in the labor market, says Xponance's Tina Byles WilliamsTina Byles Williams, Xponance founder, joins 'Closing Bell' to discuss the Fed and labor market.

☆ College students are drowning in textbook costs. There's a push in Congress to make them free.
▼ + stars: | 2023-03-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +9 min

Some members of Congress have joined the movement to provide free textbooks to university students. The college textbook landscape, however, isn't a free market, as students must buy whichever course materials their professor selects for their class. As states across the country create their own grants for open textbooks, members of Congress have also begun to take notice. "We are helping cut the cost of attending college by supporting the creation and expansion of open college textbooks," Durbin told Insider in a statement. And while there's no timeline for the Affordable College Textbook Act to make it through Congress, federal legislators have granted $47 million in funds for open textbooks since 2018 as part of the Open Textbook Pilot Program.

☆ Oil little changed as Russian supply cuts support prices
▼ + stars: | 2023-02-27 | by ( Sudarshan Varadhan | ) www.reuters.com time to read: +2 min

Companies Polski Koncern Naftowy Orlen SA FollowSINGAPORE, Feb 27 (Reuters) - Oil was little changed in early trade on Monday, as Russia's plans to deepen oil supply cuts continued to support prices, while increasing global inflation risks and rising crude inventories in the United States weighed. Oil prices have fallen by about a sixth in the year since Feb. 24, 2022, when Russian troops first marched into Ukraine. Two weeks after the invasion, prices surged to a record high of nearly $128 a barrel over supply concerns, but have since cooled over fears of a global economic slowdown. "China's manufacturing PMI data for February will be key to steering the oil prices for this week. A rebound in Chinese economic data will boost sentiment and improve the demand outlook," said Tina Teng, an analyst at CMC Markets.

☆ Instant view: Incoming BOJ chief Ueda says current low rates appropriate
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +6 min

Feb 24 (Reuters) - Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday it was appropriate to maintain ultra-loose monetary policy as inflation has yet to sustainably and steadily meet the central bank's 2% target. "I think he's intentionally doing that, so that the market will calm down a little bit about policy change expectations." "I don't think Ueda has the same stance as (Haruhiko) Kuroda but it is not clear whether Ueda would tweak the BOJ policy as the market expected." CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"No surprises there, we expected Ueda to take it slow and he's starting off echoing Kuroda's views. He has been out of touch with the BOJ policy making since 2005 and will take time even if he was to consider policy normalisation at some stage."

☆ Dollar firms as investors brace for higher-for-longer rates scenario
▼ + stars: | 2023-02-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

However, they also indicated curbing unacceptably high inflation would be the "key factor" in how much further rates need to rise. The dollar paused its ascent on Thursday after gaining broadly on the back of the release. "The meeting minutes were pretty much within expectations ... the markets are now pricing for higher-for-longer rates," said Tina Teng, market analyst at CMC Markets. "The resilience (of the U.S. economy) prompts the Fed to keep raising interest rates ... pushing up the U.S. Against a basket of currencies, the U.S. dollar index stood at 104.50, and was attempting to break a more than one-month peak of 104.67 hit last week.

☆ Is Asia's bull market over? Strategists say there's room for stocks to rally further
▼ + stars: | 2023-02-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

The region's rally – supported by China's reopening – seems to have hit a wall, but economists say MSCI's broadest index of Asia-Pacific shares outside Japan has further room to run. I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023. "Modest valuations, light investor positioning and good fundamentals are buffers that should help Asian stocks withstand near-term volatility," BNP's Liu said. She added that domestic demand in the region will be the "driver of economic growth," and she expects trade volumes to recover with China's market reopening. "I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023," she said.

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