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☆ Dollar rebuffed from 150 level vs yen after Powell/Treasuries double-whammy
▼ + stars: | 2023-10-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Yet this has not translated into a similar boost to the dollar this week, which made only marginal gains while toying with the 150 level against the yen. This number marks the point at which many market participants believe Japan's Ministry of Finance (MOF) could step in to shore up the currency. Speculators have almost doubled their bullish dollar positions against other G10 currencies this month to the most in a year. Money markets show traders fully expect to see no change in rates at the Fed's next policy meeting.

Persons: Florence Lo, Jerome Powell, Jeremy Stretch, Stretch, Omori, POWELL, Powell, Ray Attrill, he's, Sterling, Carol Kong, Rae Wee, Kevin Buckland, Kim Coghill, Angus MacSwan, Gareth Jones Organizations: U.S, REUTERS, Federal, Treasury, Swiss, Japan's, of Finance, CIBC Capital Markets, Ministry, Finance, Mizuho Securities, National Australia Bank, Swiss National Bank, Commonwealth Bank of Australia, Thomson Locations: Treasuries, Japan, Tokyo, U.S, Asia, China, Singapore

☆ Dollar toys with 150 level vs yen after Powell/Treasuries double-whammy
▼ + stars: | 2023-10-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Speculators have almost doubled their bullish dollar positions against other G10 currencies this month to the most in a year. This week's bond sell-off has raised the chances of a break of 150 in the currency. Money markets show traders fully expect to see no change in rates at the Fed's next policy meeting. The Swissie was last down against the dollar, which rose 0.2% to 0.8935 per dollar.

Persons: Florence Lo, Jerome Powell, Jeremy Stretch, Stretch, Omori, POWELL, Powell, Ray Attrill, he's, Sterling, Carol Kong, Rae Wee, Kevin Buckland, Shri Navaratnam, Kim Coghill, Angus MacSwan Organizations: U.S, REUTERS, Federal, Treasury, Swiss, Japan's, of Finance, CIBC Capital Markets, Ministry, Finance, Mizuho Securities, National Australia Bank, Commonwealth Bank of Australia, Thomson Locations: Treasuries, Japan, Tokyo, U.S, Asia, China, Singapore

☆ Bitcoin hits two-month high above $30,000 in volatile week
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - Bitcoin jumped on Friday above $30,000 for first time since July , taking gains for the week past 10%, against a backdrop of volatile trading across cryptocurrencies. Bitcoin, the largest cryptocurrency by circulation, climbed as high as $30,022, its highest since July 23. There was no immediate news catalyst for the move in bitcoin, said Joseph Edwards, head of research at London crypto firm Enigma Securities. The approval of any such applications, crypto investors have said, could usher in a new wave of capital to the asset class.

Persons: Benoit Tessier, Bitcoin, Joseph Edwards, Ben Laidler, Tom Wilson, Elizabeth Howcroft, Amanda Cooper Organizations: La Maison du, REUTERS, Securities, U.S . Securities, Exchange Commission, SEC, BlackRock, Thomson Locations: La, Paris, France, cryptocurrencies, bitcoin, London

☆ Take Five: Another curve ball for markets
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

The European Central Bank looks set to sit tight after a string of interest rate hikes, while there's a slew of U.S. earnings and Argentina's presidential election. ECB chief economist Philip Lane says the central bank was still "quite some distance" from easing monetary policy. Canada's central bank, meeting on Wednesday, is tipped to leave rates steady as inflation eases. 2 economy, property turmoil threatens China's 5% growth target - even after a consensus-smashing 4.9% quarterly expansion. Milei, surprise victor in the August primary election, has pledged to dollarise the economy and get rid of the central bank.

Persons: Brendan McDermid, Amanda Cooper, Naomi Rovnick, Kevin Buckland, Lewis Krauskopf, Rodrigo Campos, Philip Lane, hasn't, Javier Milei, Sergio Massa, Patricia Bullrich, Vineet Sachdev, Sumanta Sen, Dhara Ranasinghe, Simon Cameron, Moore Organizations: New York Stock Exchange, REUTERS, European Central Bank, Hamas, ECB, Reuters Graphics Reuters, Microsoft, Apple, Nvidia, Tesla, General Motors, Merck, United Parcel Service, Investors, International Monetary, Massa, Thomson Locations: New York City, U.S, London, Tokyo, New York, Israel, Palestinian, Russia, Ukraine, China, Beijing, ARGENTINA, Argentina, Pasir Kongkunakornkul

Enter the Swiss franc, a longstanding safe haven asset that just hit its highest level against the euro since 2015 , standing tall as its traditional rivals lose appeal. Other than U.S. dollar cash, only the Swiss franc and gold remained as options, Ielpo said. The Swiss franc has rallied over 3% against the yen this month. Reuters GraphicsUNCERTAIN WORLDSince the Oct.7 Hamas attacks in Israel, the Swiss franc -- also referred to as the Swissie -- has rallied roughly 2% against the dollar. "The war in the Middle East clearly has lead to a flight to safety that benefited the Swiss franc," said Karsten Junius, an economist at J.Safra Sarasin in Zurich.

Persons: Morgan Stanley, Florian Ielpo, Ielpo, Jeremy Stretch, Karsten Junius, Francesco Pesole, J.Safra Sarassin's Junius, Luca Paolini, Paolini, Treasuries, Toby Gibb, Naomi Rovnick, Alun John, John Revill, Amanda Cooper, Dhara, Dhara Ranasinghe, Tomasz Janowski Organizations: Swiss, Nestle, Wall, Lombard, U.S, Swiss National Bank, Traders, Ministry of Finance, CIBC Capital Markets, Reuters, ING, Management, Artemis, Thomson Locations: ZURICH, Israel, Geneva, Japan, Zurich, Swiss, U.S, London

☆ Wall St ends lower on Powell remarks as benchmark Treasury yields near 5%
▼ + stars: | 2023-10-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Exacerbating worries over higher-for-longer interest rates, benchmark Treasury yields brushed against the 5% level. The pan-European STOXX 600 index (.STOXX) lost 1.19% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.95%. Emerging market stocks lost 1.22%. U.S. Treasury yields surged, with the 10-year brushing against the 5% threshold as the Fed's Powell warned that additional monetary policy tightening could be in the cards. The greenback weakened against a basket of world currencies as benchmark Treasury yields crept higher and gold surged.

Persons: Brendan McDermid, Jerome Powell, Sam Stovall, Stovall, spooked, Rishi Sunak, Joe Biden's, Powell, Brent, Gold, Stephen Culp, Amanda Cooper, Bernadette Baum, Leslie Adler, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Treasury, U.S, Federal, Research, Tesla Inc, Netflix Inc, British, Hamas, Dow Jones, Nasdaq, Japan's Nikkei, Thomson Locations: New York City, U.S, New York, Israel, Gaza, Asia, Pacific, Japan, London

☆ London stock exchange sees first trading halt in 4 years; blue chips spared
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - The London Stock Exchange (LSE) (LSEG.L) was forced to halt trading in smaller stocks on Thursday after an incident disrupted activity, although blue chip shares suffered no interruptions. London Stock Exchange Group (LSEG) said FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - those shares listed in London by overseas companies - were operating normally. The FTSE 100 closed down 1.2% on the day. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Fiona Cincotta, Thomson, Akanksha, Huw Jones, Harry Robertson, Alun John, Joice Alves, Amanda Cooper, Danilo Masoni, Kirsten Donovan, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, LSE, FTSE, Traders, Reuters, City, Thomson Reuters, Thomson Locations: City, City of London, Britain, London, LSEG, Bengaluru, Milan

☆ US stocks end sharply lower, crude jumps on Middle East tensions
▼ + stars: | 2023-10-18 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Wall Street stocks tumbled and crude prices surged on Wednesday as escalating Middle East turmoil prompted a broad sell-off and stoked oil supply concerns. European stocks slid, ending down 1.1% due to deepening fears over the Middle East conflict and as a downbeat forecast for the semiconductor sector weighed on sentiment. Emerging market stocks lost 0.95%. Oil prices advanced as the mounting strife in the Middle East appeared to pose a growing threat to supply. The greenback advanced against a basket of world currencies as market participants kept a watchful eye on developments in the Middle East.

Persons: Andrew Kelly, Joe Biden, Greg Bassuk, Bassuk, Morgan Stanley, Brent, homebuilding, Sterling, Gold, Stephen Culp, Amanda Cooper, Christina Fincher, Leslie Adler, Richard Chang Organizations: REUTERS, Nvidia, Tesla Inc, Nasdaq, U.S, AXS Investments, Investors, Procter, Gamble, Dow Jones, Japan's Nikkei, greenback, Thomson Locations: Manhattan , New York City, U.S, Israel, Gaza, China, New York, Beijing, Asia, Pacific, Japan, London

☆ BofA: Investors sell stocks, buy bonds; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities had a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which had inflows of $3.7 billion. Inflows into Treasuries totalled $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with outflows from equities at $4.3 billion, their largest weekly outflow since May 2022, BofA said. The 10-year yield was last at 4.6248%.

Persons: Brendan McDermid, BofA, Michael Hartnett, Hartnett, BofA's, Samuel Indyk, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Investors, Thomson Locations: New York City, U.S, Treasuries

☆ BofA: Investors sell stocks, buy bonds in latest week; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities saw a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which saw inflows of $3.7 billion. Treasuries saw inflows of $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with equities seeing outflows of $4.3 billion, their largest weekly outflow since May 2022. Reporting by Samuel Indyk; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, Samuel Indyk, Amanda Cooper Organizations: Bank of America Global Research, Investors, Thomson

☆ Take Five: War and peace of mind
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. U.S. retail sales increased more than expected in August as a surge in gasoline prices boosted receipts at service stations. Bar chart with data from LSEG I/B/E/S show the projected year-over-year growth in Q3 2023 earnings of S&P 500 industries. There have been reports the government is looking to increase its budget deficit to meet this year's 5% growth target. That said, inflation is still over three times the BoE's 2% target and growth isn't exactly stellar.

Persons: Brendan McDermid, Kevin Buckland, Lewis Krauskopf, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Goldman Sachs, Johnson, Philip Morris, It's, Banks, Amundi, BoE, it's, Sumanta Sen, Prinz Magtulis, Vineet, Pasit, Jayaram, Mark Potter Organizations: New York Stock Exchange, REUTERS, Hamas, Bank of America, Johnson, Netflix, Philip Morris International, Investors, HK, Law, Justice, Reuters, The Bank of England, Thomson Locations: New York City, U.S, Israel, Palestinian, China, Britain, Tokyo, New York, London, LSEG, Beijing, Europe's, Brussels, Europe

☆ Morning Bid: A window into the Fed's thinking
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +4 min

They scour every line and often every punctuation mark, for any sign of a shift in thinking. They might be disappointed later on Wednesday when the minutes of the Federal Open Market Committee's September meeting hit the wire. In a statement after the Sept. 20 meeting, Chair Jerome Powell reiterated the central bank's more hawkish monetary policy stance, saying that although "people hate inflation", the jury was out on whether the central bank's work in tackling price pressures was done. MARKETS IN 'UNCHARTED TERRITORY'Deutsche Bank says the market is in uncharted territory in terms of the shrinkage in central banks' balance sheets. In the roughly 15 years since the financial crisis, central banks have never sold assets as quickly as they have in the last half-year.

Persons: Brendan McDermid, Amanda Cooper, Jerome Powell, Lorie Logan, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Federal, Treasury, Fed, Dallas, ING, Deutsche Bank, European Central Bank, Bank of England, Graphics Reuters, Reuters, Reuters Graphics Deutsche Bank, Thomson Locations: New York City, U.S, Australia, Canada, New Zealand, Sweden, Japan

☆ Yields fall, stocks jump after Fed official comments; oil eases
▼ + stars: | 2023-10-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 10, 2022. Atlanta Fed Bank President Raphael Bostic on Tuesday said the U.S. central bank does not need to raise rates any further, and sees no recession ahead. Late on Monday, top-ranking Fed officials indicated that rising yields on long-term U.S. Treasury bonds, which directly influence financing costs for households and businesses, could keep the Fed from further increases in its short-term policy rate. U.S. Treasury yields fell on the comments but also partly in reaction to continuing violence in the Middle East. In late morning trading, U.S. 10-year yields were last down 10.6 basis points (bps) at 4.676%.

Persons: Brendan McDermid, Raphael Bostic, Israel, Stan Shipley, Brent, shekel, Amanda Cooper, Kane Wu, Stella Qiu, Christina Fincher, Chizu Nomiyama, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Companies, Treasury, Federal, Nasdaq, Atlanta Fed Bank, Cash Treasury, Columbus Day U.S, Fed, ISI, Dow Jones, U.S, Garden Holdings, HK, Thomson Locations: New York City, U.S, East, Israel, Gaza, New York, London, Hong Kong, Sydney

☆ Stocks ride wave of risk appetite; Israel conflict rages on
▼ + stars: | 2023-10-10 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 9, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - Global stocks rose on Tuesday, as a wave of risk appetite swept through markets after Federal Reserve officials signaled the recent yield surge could justify caution on interest rates, while oil eased, but violence in Israel made for nervy trading. "Based on Monday's comments from the Fed, the market is starting to think that the central bank does take greater notice of bond yields after all," ING strategist Chris Turner said. "However, we suspect that this may not be a defining story for the bond market in that no central bank likes being backed into a corner over what bond yields mean for monetary policy." Oil prices eased after climbing more than 4% on Monday.

Persons: Treasuries, Kallum Pickering, Chris Turner, Brent, Kane Wu, Stella Qiu, Kim Coghill, Christina Fincher, Chizu Organizations: REUTERS, Staff, Federal, Hamas, Fed, ING, Garden Holdings, HK, Thomson Locations: Frankfurt, Germany, Israel, Europe's, U.S, Palestinian, Gaza, Hong Kong, Sydney

☆ Deutsche Bank strategists recommend equity overweight into 2024
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - Strategists at Deutsche Bank have recommended an overweight in equities into 2024, as risks are now well reflected in the market and those are about to turn into opportunities. "We anticipated weaker growth, disappointing beats in earnings and disappointing central bank communication into Q3," Deutsche Bank strategists, led by Maximilian Uleer, head of European Equity- and Cross Asset Strategy, said in a note. The bank has set its 2024 forecast for the STOXX 600 (.STOXX) at 510, for the Euro STOXX 50 (.STOXX50E) at 4,850 and DAX 40 (.GDAXI) at 18,000. Deutsche Bank added it remained neutral U.S. equities versus Europe, while within Europe is underweight the Switzerland's SMI (.SSMI) due to its "defensive character into a bullish market."

Persons: Dado Ruvic, Maximilian Uleer, DAX, Uleer, Brent, Samuel Indyk, Amanda Cooper, Bernadette Baum Organizations: Deutsche Bank, REUTERS, European Equity, Europe, Thomson Locations: Europe, Israel, Palestine

☆ Israel shekel sinks to lowest since 2016, default insurances soars
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. The weekend attack and retaliatory strikes by Israel have claimed more than 1,500 lives, raising fears the region could face a prolonged wave of conflict and violence. Stocks, bonds and currencies of Israel and neighbouring countries such as Lebanon, Jordan and Egypt have come under severe pressure in recent days. The Bank of Israel announced on Monday it would sell up to $30 billion of foreign currency in the open market to stabilise the currency. Reporting by Karin Strohecker and Amanda Cooper; Graphic by Marc Jones, Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Nir Elias, JPMorgan's Zafar Nazim, Karin Strohecker, Amanda Cooper, Marc Jones, Christina Fincher Organizations: REUTERS, P Global Market Intelligence, Bank of Israel, Reuters Graphics JPMorgan, Gulf Corporation, Key Tel, Thomson Locations: Israel, Lebanon, Jordan, Egypt, Gulf, Key Tel Aviv

☆ China-exposed European stocks rise after report of new stimulus
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - China-exposed European stocks rose on Tuesday after Bloomberg reported China is looking to increase its budget deficit for 2023, part of a new round of stimulus to help the economy. Miners Anglo American , Antofagasta (ANTO.L) and Glencore (GLEN.L), and financial services companies Standard Chartered (STAN.L), (2888.HK) and Prudential (PRU.L) all rose 3-5%. Stephane Ekolo, global equity strategist at TFS Derivatives, said the news was "absolutely" driving price action in European assets. "When China sneezes, the world catches a cold, so a new potential stimulus is seen as a positive catalyst," Ekolo said.

Persons: Peter Nicholls, Stephane Ekolo, China sneezes, Ekolo, Alun John, Amanda Cooper Organizations: Chartered, REUTERS, Bloomberg, Miners, HK, Prudential, TFS, Thomson Locations: London, Britain, China, American, Antofagasta

☆ Hedge funds sell energy stocks before Middle East conflict - Goldman
▼ + stars: | 2023-10-09 | by ( Nell Mackenzie | ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The surge in oil prices followed the largest military assault on Israel in decades, with hundreds dead and several abducted. Hedge funds had, as of Friday, ramped up selling to the fastest pace since early June in shares of U.S. companies that manufacture chemicals, building materials and paper products, said the note from Goldman Sachs' prime brokerage. U.S. energy stocks saw net sales in the week ending October 6 for the second straight week in a row and in the eight previous trading sessions, the bank said. The oil price was up by more than 3% on the day on Monday at $87.27 a barrel.

Persons: Brendan McDermid, Goldman Sachs, Brent, WTI, Nell Mackenzie, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Global, Saturday, Israel, White, Thomson Locations: New York City, U.S, Israel, Saudi Arabia, Washington, Riyadh, Saudi

"The recent decline in European luxury stocks reflects the uncertainty over the European economy and also the uneven growth outlook for the Chinese economy," Garnry said. Reuters GraphicsTHE LUXURY GAPAlthough luxury valuations have come down, they are still well above the rest of the market. The end of the French luxury group's 2-1/2 year-long reign was widely put down to investors losing appetite for luxury stocks as well as the growth of Novo's anti-obesity drug Wegovy. Some analysts have turned cautious on the luxury sector, with UBS last week reducing its estimates to account for the risk of slowing Chinese consumption. Gerry Fowler, head of European equity strategy and global derivative strategy at UBS, said risks in luxury stocks started to become more apparent in May.

Persons: Louis, Stephanie Lecocq, Bernard Ahkong, Peter Garnry, Garnry, LVMH, Morgan Stanley, Gerry Fowler, Bernstein, Gilles Guibout, Lucy Raitano, Mimosa Spencer, Amanda Cooper, Alexander Smith Organizations: REUTERS, Paris Fashion, U.S, UBS O'Connor Global, Alpha, Saxo Bank, Reuters Graphics, GAP, Novo Nordisk, UBS, Bank of America, AXA Investment Mangers, Thomson Locations: Paris, France, PARIS, Europe, U.S, China, United States

Oct 9 (Reuters) - Shares in U.S. and European-listed companies with business exposure to Israel fell on Monday on worries that an escalation in conflict with Palestinian Islamist group Hamas would impact their operations. Wall Street opened lower, while European stocks dipped as surging oil prices fanned inflation worries and investors fled to the safety of government bonds and the dollar. U.S. shares of Israeli chipmaker Tower Semiconductor fell 5.2%, while Intel (INTC.O) dipped 1.1% and Nvidia (NVDA.O) 2.1%, dragging the chip sector lower. U.S.-listed shares of Israel's Teva Pharmaceutical (TEVA.TA), the world's largest generic drugmaker, fell 3.3%, while those in fertilizer group ICL Group (ICL.TA) dipped 1.4%. U.S. exchange-traded funds exposed to Israel such as the iShares MSCI Israel ETF and the ARK Israel Innovative Technology ETF fell 6.6% and 4.4%, respectively.

Persons: Benjamin Netanyahu, Raffi Boyadjian, Energean, Adani Ports, Danilo Masoni, Sruthi Shankar, Amanda Cooper, Deborah Kyvrikosaios, Arun Koyyur Organizations: Palestinian, Semiconductor, Intel, Nvidia, Energy, Tel Aviv ., U.S, Cruise Line Holdings, Royal Caribbean Group, XM, Israel's, ICL, ARK Israel Innovative Technology, Adani, Thomson Locations: Israel, Tel Aviv, Saudi Arabia, Gaza, London, India, Adani, Haifa Port, Northern Israel

☆ Bonds 'in greatest bear market of all time' - BofA
▼ + stars: | 2023-10-06 | by ( Samuel Indyk | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The rout in the fixed-income market is causing the "greatest bond bear market of all time", Bank of America Global Research said in a note on Friday, as the peak-to-trough loss in the U.S. 30-year yield hit 50%. In its weekly "Flow Show" report, BofA said bond funds saw $2.5 billion in outflows in the week to Wednesday, citing EPFR data. BoFA's report showed that the current loss in 30-year bonds from the peak in the market in July 2020 to now far outpaces that of any previous bear market, making this one what it calls "the greatest of all time" and the "humiliation trade" right now is buying bonds. BofA said its "Bull & Bear indicator", dropped to a five-month low of 2.6 on poor equity breadth, outflows from emerging markets, high yield bonds and developed market stocks. BofA said it prefers to "sell the rips" in the upper half of S&P 500's (.SPX) range of 3,600-4,200 as they are "convinced the bear market has unfinished business".

Persons: Dado Ruvic, BofA, BoFA's, Michael Hartnett, Samuel Indyk, Amanda Cooper, Sharon Singleton Organizations: REUTERS, Bank of America Global Research, Equity, Thomson Locations: U.S, outflows

☆ Aviva shares jump 8% as Times cites takeover talk
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

The Aviva logo on a window at the company's head office in the City of London, Britain, March 7, 2019. REUTERS/Simon Dawson/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - Shares in Aviva (AV.L) shot up almost 9% on Friday, after Britain's Times newspaper cited talk of a possible takeover of one of the UK's largest insurers by a foreign buyer. ($13.41 billion)The Times cited "chatter that refused to die down". Last month, Aviva said it had agreed to buy UK life insurance business of AIG (AIG.N) for 460 million pounds($563 million), in the largest acquisition to date by its CEO, Amanda Blanc. ($1 = 0.8201 pounds)Reporting by Joice Alves and Carolyn Cohn; Writing by Amanda Cooper; Editing by Dhara RanasingheOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Dawson, Amanda Blanc, Joice Alves, Carolyn Cohn, Amanda Cooper, Dhara Organizations: Aviva, City of, REUTERS, Britain's Times, Reuters, AIG, Thomson Locations: City, City of London, Britain

[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. The shares were heading for their worst one-day drop in over 20 years as of 1140 GMT, down 37%, which wiped some 3 billion euros ($3.16 billion) from Alstom's market value. The group said it now expects a cash outflow of 500-750 million euros over the full year, after a preliminary first-half outflow of 1.15 billion euros, well above the consensus for a 152 million euro outflow cited by Jefferies. The cost of insuring Alstom's debt against the risk of default shot to its highest since last November, according to data from S&P Global Market Intelligence. Citi analysts were less concerned about liquidity, but said "the past track record on cash means cash improvement is now very much a 'show me' story".

Persons: Regis Duvignau, Jefferies, Angelo Meda, JP Morgan, Olivier Sorgho, Danilo Masoni, Chiara Elisei, Amanda Cooper, Alexander Smith Organizations: Alstom, REUTERS, Banor SIM, Deutsche Bank, P Global Market Intelligence, Traders, Citi, Thomson Locations: Semeac, Tarbes, France, Paris, Milan, Britain

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.

Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore

☆ Japanese yen weakens past psychologically significant 150 per dollar level
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNEWYORK/LONDON/TOKYO, Oct 3 (Reuters) - The yen weakened to 150 to the dollar on Tuesday, a level some analysts think could prompt concerned Japanese authorities to intervene to prop up the currency. The dollar rose as high as 150.165 yen, its highest since October 2022, as the greenback pushed higher against most currencies, driven by surging U.S. Treasury yields. Reporting by Alun John in London, Brigid Riley and Kevin Buckland in Tokyo, and Gertrude Chavez-Dreyfuss in New York; Editing by Amanda Cooper and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Alun John, Brigid Riley, Kevin Buckland, Gertrude Chavez, Dreyfuss, Amanda Cooper, Jonathan Oatis Organizations: U.S, REUTERS, Treasury, Thomson Locations: TOKYO, London, Tokyo, New York

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