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☆ Top money managers warn that 2024 earnings expectations are getting out of hand, even as Wall Street firms scramble to raise their S&P 500 targets
▼ + stars: | 2024-01-18 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Goldman Sachs"We expect price increases to be driven by modest earnings growth and well-supported price-to-earnings multiples," wrote Austin Pickle, a strategist at WFII, in a January 16 note. Stucky continued: "I've never seen a re-acceleration in earnings growth — which is what the baseline expectation is for earnings — absent some sort of economic recovery or an acceleration in economic growth. He noted that many factors influence profits, but added that his forward model suggests there's earnings risk ahead. Bianco said he expects flat or mid-single-digit earnings growth for stocks in most sectors. However, he said that during expansions, GDP growth is a poor predictor of earnings growth.

Persons: Goldman Sachs, Austin Pickle, Jonathan Golub, Golub, Matt Stucky, Stucky, I've, Brad Klapmeyer, He's, Klapmeyer, Anthony Saglimbene, —, Saglimbene, Saglimbene doesn't, David Bianco, Bianco Organizations: Business, Wells, Investment Institute, UBS, Federal Reserve, Northwestern Mutual Wealth Management, Macquarie Asset Management, DWS Group

☆ Inflation is still a mixed bag, but markets don't care. They see big Fed rate cuts ahead
▼ + stars: | 2024-01-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

December's inflation data provided just enough evidence to show that the pace of price increases is continuing to cool while also serving up a reminder that the war isn't won yet. One is that regardless of the headline numbers, the parts of inflation that don't fluctuate as much have been fairly stubborn. So-called sticky inflation, which includes things such as housing costs, auto insurance, medical care services and household furnishings, are indeed holding higher. On a one-month annualized basis, the measure also was at 4.6%, but that's up a full percentage point from the previous month. Fed policymakers also are attuned to the relationship between wages and inflation.

Persons: isn't, Disinflation, Jamie Dimon, cautioning, Krishna Guha, Goldman Sachs, Goldman, Ian Shepherdson, Dan North Organizations: Separate Labor Department, Federal Reserve, Nomura Global Economics, JPMorgan Chase, Evercore ISI, PPI, Citigroup, Commerce, Fed, Pantheon, Atlanta, Allianz Trade Locations: Red

☆ Climate summit leader said there’s ‘no science’ behind need to phase out fossil fuels, alarming scientists
▼ + stars: | 2023-12-03 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

CNN —The president of the COP28 climate summit, Sultan Al Jaber, recently claimed there is “no science” that says phasing out fossil fuels is necessary to limit global warming to 1.5 degrees Celsius above pre-industrial levels, in comments that have alarmed climate scientists and advocates. The future role of fossil fuels is one of the most controversial issues countries are grappling with at the COP28 climate summit. Al Jaber was asked by Mary Robinson, former president of Ireland and current chair of the Elders Group, an independent group of global leaders, if he would lead on phasing out fossil fuels. While some argue carbon capture will be an important tool for reducing planet-heating pollution, others argue these technologies are expensive, unproven at scale and a distraction from policies to cut fossil fuel use. “They are not going to get any help from the COP Presidency in delivering a strong outcome on a fossil fuel phase out,” he said in a statement.

Persons: Sultan Al Jaber, Al Jaber, Mary Robinson, Robinson, ”, Al Jaber’s, what’s, Romain Ioualalen, Al, ” Joeri, Mohamed Adow, Angela Dewan, Rachel Ramirez Organizations: CNN, ”, Guardian, Elders Group, Abu, Abu Dhabi National Oil Company, UN, International Energy Agency, IEA, Stockholm Environment Institute, Change, Imperial College London Locations: Paris, “, Abu Dhabi, Stockholm, UN, UAE

☆ Elon Musk’s quest in foreign affairs plagued by his own online behavior
▼ + stars: | 2023-11-28 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

Washington CNN —Elon Musk is an increasingly important player in global affairs and has been touring the world to meet with political leaders in recent months. “We can observe Elon Musk’s Twitter/X activity that he regularly consumes right-wing content and this increased during COVID-19,” Facciani said in an email. More recently, however, Musk’s ambitions have come a bit closer to earth and become far more concrete. There are many world leaders who hold extreme or far-right views, of course. Musk’s outbursts that contradict widely held international norms and values are meant for a specific internet audience that Musk mistakes for being representative of the wider world.

Persons: Washington CNN — Elon Musk, White supremacists, Musk, Benjamin Netanyahu, It’s, George Soros, Netanyahu, Matthew Facciani, “, Elon, ” Facciani, Vladimir Putin, Rishi Sunak, Recep Tayyip Erdogan, he’s, Ron DeSantis ’, Robert Kennedy Jr, ’, ” Musk, ”, reactionism Organizations: Washington CNN, Defamation League, Whites, White, The University of Notre Dame, Twitter, UK, Florida Republican Gov, United States Locations: Israel, Gaza, COVID, Ukraine, Crimea, Washington, United, Russia

☆ Asia off to slow start, lot of easing already priced in
▼ + stars: | 2023-11-20 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.1%, having climbed 2.8% last week to a two-month high. Japan's Nikkei (.N225) was little changed, and is up almost 9% for the month so far amid upbeat corporate earnings. A LOT PRICED INMarkets have all but priced out the risk of a further hike in December or next year, and imply a 30% chance of an easing starting in March. Futures also imply around 100 basis points of cuts for 2024, up from 77 basis points before the benign October inflation report shook markets. "If another soft print eventuates, expect pricing for ECB cuts to extend beyond the current 100bps of cuts being priced for 2024."

Persons: Issei Kato, Goldman Sachs, Brent nudged, Wayne Cole, Lincoln Organizations: REUTERS, Nikkei, Nvidia, Hamas, Japan's Nikkei, Nasdaq, Tech, Futures, U.S, European Central Bank, NAB, ECB, Thomson Locations: Tokyo, Japan, SYDNEY, Israel, United States, Gaza, Asia, Pacific, October's

☆ Watch CNBC's full interview with Maya McGuineas and Krishna Guha
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Maya McGuineas and Krishna GuhaMaya MacGuineas, Committee for a Responsible Federal Budget president, and Krishna Guha, Evercore ISI head of global policy, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.

Persons: Maya McGuineas, Krishna Guha Maya MacGuineas, Krishna Guha, Evercore Organizations: Federal

☆ U.S. recession where interest rates rise is unlikely, says Evercore's Krishna Guha
▼ + stars: | 2023-11-13 | 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 EmailU.S. recession where interest rates rise is unlikely, says Evercore's Krishna GuhaMaya MacGuineas, Committee for a Responsible Federal Budget president, and Krishna Guha, Evercore ISI head of global policy, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.

Persons: Evercore's Krishna Guha Maya MacGuineas, Krishna Guha, Evercore Organizations: U.S, Federal

☆ Live updates: Israel-Hamas war rages as Gaza evacuations continue
▼ + stars: | 2023-11-10 | by ( Tara Subramaniam | Heather Chen | ) edition.cnn.com time to read: +1 min

"We fear for the worst for our colleagues in Gaza,” Phillips-Barrasso said. Aid agencies have repeatedly warned that shortages of vital supplies including water are contributing to the unfolding humanitarian catastrophe in Gaza. Phillips-Barrasso said one person had described waiting nearly 22 hours in a queue to get any sort of drinkable water. One woman, referred to as Nasma, wrote that "at night, we try to guess which room is the safest. My mom insists on sleeping with us even though it is very crowded, so that if we die at night, at least we will die together."

Persons: Kenzo Tribouillard, CNN's Kaitlin Collins, Kate Phillips, Barrasso, ” Phillips, Phillips, Nasma Organizations: Getty Images, Mercy Corps Locations: Gaza, AFP, Israel

☆ Watch live: Reuters NEXT, the definitive annual live journalist event
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

Led by Editor-in-Chief Alessandra Galloni, Reuters correspondents speak to global policymakers, business leaders and forward thinkers to tackle the greatest challenges and opportunities facing society, business, and the world at large. To watch this video on the mobile app, please click hereAt a time when truth and new ideas have never been more important, Reuters NEXT examines the big issues from different perspectives, fuelled by passion, experience, and expertise. Building a better tomorrow begins with a clearer understanding of today. Our Standards: The Thomson Reuters Trust Principles.

Persons: Alessandra Galloni Organizations: Reuters NEXT, Thomson

☆ Analysis: Traders bet ECB will be first big central bank to cut rates
▼ + stars: | 2023-11-03 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. With investors confident that big central banks are likely done raising rates, focus has switched to when rate cuts will start. Traders now price in over an 80% chance of a 25 basis-points (bps) ECB cut by April, which had been fully priced for July last week. Piet Christiansen, chief analyst at Danske Bank, said the expectations for ECB rate cuts now reflected a "doom and gloom" scenario. He added the ECB would need to cut rates at least as much as traders expect next year.

Persons: Heiko Becker, BoE, Shamik Dhar, Christine Lagarde, Piet Christiansen, Lagarde, Goldman, Gurpreet Gill, Dario Perkins, Yoruk, Sumanta Sen, Kripa Jayaram, Dhara Ranasinghe, Emelia Organizations: European Central Bank, REUTERS, Traders, ECB, Fed, Federal Reserve, Bank of England, BNY Mellon Investment, Treasury, Reuters, Danske Bank, Asset Management, Lombard, Thomson Locations: Frankfurt, Germany, United States, Europe, U.S, Britain, Israel

Countries pledged in the 2015 Paris Agreement to hold global warming to within 1.5C above pre-industrial temperatures but the new paper by a team of scientists, including from NASA and Columbia University, adds to evidence suggesting that this goal is already out of reach. Most emissions scenarios under the United Nations Intergovernmental Panel on Climate Change (IPCC) envision the world breaching 1.5C during the 2030s. EARTH SENSITIVITYThe study's findings, published in the journal Oxford Open Climate Change, result from two factors. The IPCC has given a best-guess estimate that the doubling of atmospheric carbon dioxide levels would yield global warming of around 3C (5.4F). Cleaning the skies, while bringing health benefits and saving lives, accelerates climate change.

Persons: Thomas Peter, James Hansen of, Michael Mann, Pennsylvania's Mann, Klaus Hubacek, Katy Daigle, Gareth Jones Organizations: REUTERS, NASA, Columbia University, United Nations, James Hansen of Columbia, Earth Institute, University of Pennsylvania, IPCC, University of Gronigen, Thomson Locations: Gan, Nanchang, Jiangxi province, China, UN, Paris, 1.5C, heatwaves, Libya, Dubai, 4.8C

☆ The UK is gearing up for a pivotal summit on AI. Here's what you need to know
▼ + stars: | 2023-10-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +10 min

Where it's being heldThe AI summit will be held in Bletchley Park, the historic landmark around 55 miles north of London. What it seeks to addressThe main objective of the U.K. AI summit is to find some level of international coordination when it comes to agreeing some principles on the ethical and responsible development of AI models. The British government wants the AI Summit to serve as a platform to shape the technology's future. They say that, by keeping the summit restricted to only frontier AI models, it is a missed opportunity to encourage contributions from members of the tech community beyond frontier AI. "By focusing only on companies that are currently building frontier models and are leading that development right now, we're also saying no one else can come and build the next generation of frontier models."

Persons: Rishi Sunak, Peter Nicholls, Rishi Sunak's, ChatGPT, Getty, codebreakers, Alan Turing, It's, Kamala Harris, Saul Loeb, Brad Smith, Sam Altman, Global Affairs Nick Clegg, Ursula von der, Emmanuel Macron, Joe Biden, Justin Trudeau, Olaf Scholz, Sunak, —, Xi Jinping, Biden, James Manyika, Manyika, Mostaque, we're, Sachin Dev Duggal, Carl Court Organizations: Royal Society, Carlton, Getty, U.S, Microsoft, Coppin State University, AFP, Meta, Global Affairs, Global Affairs Nick Clegg U.S, Ministry of Science, Technology European, Joe Biden Canadian, Britain, Afp, Getty Images Washington, U.S ., Google, CNBC, Big Tech Locations: London, China, Bletchley Park, British, America, Baltimore , Maryland, Chesnot, U.S, Nusa Dua, Indonesian, Bali, EU

☆ Can U.S. drone makers compete with cheap, high-quality Chinese drones?
▼ + stars: | 2023-10-11 | by ( Brad Howard | In | ) www.cnbc.com time to read: +2 min

The U.S. domestic drone industry has found itself at a disadvantage when it comes to producing these useful remote-controlled flying machines in America. Chinese drone maker DJI remains the king of the industry, controlling more than 70% of the global drone market. DJI drones are currently used by state university researchers, police departments, firefighters and other groups across the U.S. that could be affected by potential bans on Chinese-produced drones. "It is going to be key that the U.S.-produced drones, or drones produced by trusted allies, become more affordable." Watch the video above to find out if the U.S. drone industry can compete with Chinese drone producers.

Persons: Adam Bry, Adam Welsh, Mark Montgomery Organizations: CNBC, Israel, Center, Foundation for Defense of Democracies Locations: America, China, U.S, DJI, Russia, Ukraine

If the Fed's holdings of long-dated securities were shrinking like other parts of the curve, or even at all, more of these bonds would be available to the wider market. Wang recognizes that if the Fed held fewer longer-dated securities these yields might be even higher, but also points out that the Fed's holdings are largely determined by what Treasury issues. All told, the Fed's 'QT 2' is almost twice the pace of QT 1. Reuters Image Acquire Licensing RightsSince the Fed started QT 2, its total holdings of Treasury bills and bonds have fallen to $4.93 trillion from $5.77 trillion. The average profile of Fed-held Treasury debt is longer than total outstanding Treasury debt, and getting longer.

Persons: Sukree, Benson Durham, Piper Sandler, Joseph Wang, Wang, Pierre, Olivier Gourinchas, Neel Kashkari, Jamie McGeever, Andrea Ricci Organizations: Rights, Fed, Treasury, Reuters, Monetary, Minneapolis, Thomson Locations: Kasikornbank, Bangkok, Rights ORLANDO , Florida, Durham

☆ Morning Bid: Markets regain footing with focus back on Fed
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. Meanwhile, 10-year U.S. Treasuries managed their sharpest rally in more than a month at the Tokyo opening on Tuesday, on a combination of the dovish Fed remarks and demand for safe assets. Markets will have plenty more chances to hear from Fed officials, who will be out in full force at events on Tuesday while minutes of their September monetary policy meeting will be published on Wednesday. Elsewhere, the IMF and World Bank annual meetings in Morocco get into full swing, with a range of leading global policymakers set to speak. European Central Bank President Christine Lagarde makes her appearance at the meetings on Tuesday, speaking after economic data the previous day added fuel to fears of a potential recession in Germany, the euro zone's largest economy.

Persons: Jason Reed, Brigid Riley, Treasuries, Christine Lagarde, Fed's Raphael Bostic, Christopher Waller, Neel Kashkari, Mary Daly, Edmund Klamann Organizations: U.S . Federal, REUTERS, Federal Reserve, Treasury, IMF, World Bank, European Central Bank, PepsiCo, Bank, Thomson Locations: Washington, U.S, Tokyo, Morocco, Germany, Asia, China, Sweden

Oct 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The rebound in risk sentiment was largely due to comments from two Fed officials that the recent rise in long-term bond yields and tightening of financial conditions mean the Fed may be done raising rates. The U.S. bond market was closed on Monday for the Columbus Day holiday but futures traded, and the 10-year Treasury future posted its biggest rise since March. The IMF and World Bank annual meetings in Morocco kick into gear on Tuesday, with U.S. Treasury Secretary Janet Yellen, European Central Bank president Christine Lagarde and many other leading global policymakers in attendance. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Lori Logan, Philip Jefferson nodded, Janet Yellen, Christine Lagarde, Raphael Bostic, Christopher Waller, Neel Kashkari, Mary Daly, Lorie Logan, Philip Jefferson, Waller, Daly Organizations: Dallas, Columbus, Treasury, IMF, World Bank, U.S, European Central Bank, Fed, Bank, Thomson, Reuters Locations: Israel, Gaza, U.S, Lower U.S, Asia, Japan, Pacific, Philippines, Morocco, Marrakech, Kashkari

Oct 9 (Reuters) - Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets. Investors were on guard for the potential of the conflict spreading to embroil other countries, including Iran, and a continued spike in oil prices. Prices for gold, a popular destination for investors during uncertain times, were up 1.2% at $1,854.10 per ounce. Among those is the potential of a rebound in oil prices that could weigh on U.S. economic growth and endanger the so-called soft landing narrative that has helped boost stocks this year. “The worst-case scenario from a geopolitical risk perspective would be a full-scale confrontation between Israel and Iran,” said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight.

Persons: Brent, ”, Mohit Kumar, Tina Fordham, Paul Nolte, Emmanuel Cau, Althea Spinozzi, Naomi Rovnick, Lewis Krauskopf, Dhara Ranasinghe, Davide Barbuscia, Noel Randewich, Marc Jones, Ira Iosebashvili, Nick Zieminski Organizations: Jefferies, Fordham Global Foresight, Federal Reserve, Murphy, Sylvest Wealth Management, Reuters Graphics Reuters, Treasury, Barclays, Mobileye, Intel, Solaredge Technologies, East, Saxo Bank, Thomson Locations: U.S, Gaza, Iran, Europe, London, Israel, United States, Germany

Oct 9 (Reuters) - Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets. Investors were on guard for the potential of the conflict spreading to embroil other countries, including Iran, and a continued spike in oil prices. Prices for gold, a popular destination for investors during uncertain times, were up 0.9% at $1,849.40 per ounce. Among those is a potential rebound in oil prices that could weigh on U.S. economic growth and endanger the so-called soft landing narrative that has helped boost stocks this year. “The worst-case scenario from a geopolitical risk perspective would be a full-scale confrontation between Israel and Iran,” said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight.

Persons: Brent, ”, Mohit Kumar, Tina Fordham, Paul Nolte, Murphy, Emmanuel Cau, Althea Spinozzi, Naomi Rovnick, Lewis Krauskopf, Dhara Ranasinghe, Davide Barbuscia, Marc Jones, Ira Iosebashvili, Nick Zieminski Organizations: Jefferies, Fordham Global Foresight, Federal Reserve, Sylvest Wealth Management, Treasury, Barclays, Mobileye, Intel, Solaredge Technologies, East, Saxo Bank, Thomson Locations: U.S, Gaza, Iran, Europe, London, Israel, United States, Germany

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTX co-founder Gary Wang set to wrap up testimony in SBF trial: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nikhilesh De, CoinDesk's managing editor for global policy and regulation, weighs in on the SBF trial and the testimony heard so far.

Persons: Gary Wang, explainers, Nikhilesh, CoinDesk's Organizations: CNBC Crypto, CNBC

The collective impact of higher rates across the economy could also weaken the government's own finances. With borrowing rates high and inflation still relatively elevated, consumers, who drive about 70% of economic growth, are expected to spend more cautiously. “Those tighter, higher rates will have an impact on the economy.”Financial analysts point to several reasons for the rapid increase in lending rates. Overseas buyers have reduced their purchases, thereby forcing rates higher to attract buyers. “All of that is driving these fears of higher rates, and no one knows when it’s going to stop,” said Gennadiy Goldberg, head of US rates strategy at TD Securities.

Persons: Kevin McCarthy, Goldman Sachs, Goldman, Freddie Mac, Loretta Mester, ” Mester, it’s, ”, Gennadiy Goldberg, Benson Durham, Piper Sandler, Durham, Jerome Powell, ‘, we’re, ’ ”, Nancy Vanden Houten, David Page Organizations: WASHINGTON, United Auto Workers, Representatives, Republican, Treasury, Federal Reserve Bank of Cleveland, ”, Fed, Treasury Department, TD Securities, Oxford Economics, AXA Locations: U.S, ’ ” Durham, London

☆ A government shutdown would be a 'gut punch' to Head Start programs that serve 10,000 low income children
▼ + stars: | 2023-09-30 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Head Start programs, which serve over 10,000 children across the nation, would lose funding. If the shutdown isn't averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. The 16-day October 2013 shutdown was the last to hit Head Start hard, affecting 19,000 children and shuttering programs in several states. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.

Persons: —, Monette Ferguson, Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, Lynn Karoly, John, Laura Arnold, what's Organizations: Service, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Center for American, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida

If the shutdown isn’t averted, Head Start programs serving more than 10,000 children would immediately lose federal funding, including Ferguson's program. That's what worries Lori Milam, executive director of the West Virginia Head Start. This is a particular concern with nearly 20% of Head Start staff positions vacant nationwide, according to the National Head Start Association. Another pot of COVID-19 relief funds that helped Head Start ran out in the spring. Laketia Washington, a mother of eight whose 3- and 5-year-olds attend Head Start programs in Tallahassee, Florida, lamented the turmoil as she rang up customers at a discount store.

Persons: Monette Ferguson, “, ”, Ferguson, Tommy Sheridan, Sheridan, Bobby Kogan, Lori Milam, she's, Philip Shelly, Nikki Budzinski, Maureen Coffey, “ It’s, Lynn Karoly, John, Laura Arnold, what’s Organizations: KANSAS CITY, Alliance for Community Empowerment, Start Association, Sunday, Center for American Progress, West Virginia, Democratic U.S ., Start, Rand Corp, Tim Center, Capital Area Community Action Agency Locations: KANSAS, Mo, Connecticut, Florida , Alabama , Connecticut, Georgia , Massachusetts, South Carolina, Illinois, Minnesota , New York, Maine, Houston, Florida, Laketia Washington, Tallahassee , Florida

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This may hinge largely on whether the U.S. bond market regains its footing. Here are key developments that could provide more direction to markets on Monday:- Singapore inflation (September)- Vietnam inflation, trade, industrial production (September)- Vietnam GDP (Q3)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Issei Kato, Jamie McGeever, Goldman Sachs, Lisa Shumaker Organizations: REUTERS, Fed, Bank of England, Swiss National Bank and Bank of Japan, Treasury, Thailand's, Thomson, Reuters Locations: Tokyo, Japan, Asia, U.S, Vietnam, Singapore

☆ Euro zone economy likely contracted this quarter
▼ + stars: | 2023-09-22 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

LONDON, Sept 22 (Reuters) - The euro zone economy is likely contract this quarter and won't return to growth anytime soon, a survey showed, as the dampening effect of central banks' long campaign of interest rates rises becomes clearer. HCOB's flash euro zone Composite Purchasing Managers' Index (PMI), compiled by S&P Global and seen as a good gauge of overall economic health, rose to 47.1 in September from August's 33-month low of 46.7. "The increase in the ECB key interest rate by 450 basis points in the meantime is slowing down the economy in all euro countries." OUT OF ORDERSeptember's fall in overall activity in the euro zone came despite firms barely increasing their charges. The services PMI rose to 48.4 from 47.9 but spent its second month below the breakeven mark this year.

Persons: Christoph Weil, France's, Andrew Bailey, Sarah Meyssonnier, Bert Colijn, Jonathan Cable, Toby Chopra Organizations: P Global, August's, Hamburg Commercial Bank, ECB, PMI, European Union, Bank of England, Carrefour, REUTERS, European Central Bank, ING, Thomson Locations: Hamburg, Germany, Commerzbank, Europe's, Britain, Montesson, Paris, France, Spain

☆ Gold defies strength in dollar, yields as global rates peak
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: +1 min

Gold firmed on Friday despite pressure from a stronger U.S. dollar and bond yields, as investors assessed major central banks' decisions to stand pat on interest rates as a signal of imminent global economic pain. Spot gold was up 0.3% to $1,924.45 per ounce by 0551 GMT, having logged its biggest daily drop since Sept. 5 on Thursday. "The markets looked at central banks and said you're not stopping hikes because inflation is beaten, you're stopping because you're worried that global growth is about to stop," said Ilya Spivak, head of global macro at Tastylive. The dollar stood near a six-month peak on the prospects of higher-for-longer U.S. rates, while benchmark 10-year Treasury yields climbed a 16-year high and global equities eyed their worst week in a month. Investors traditionally buy gold as a hedge against economic uncertainty, but higher rates tend to weigh on non-interest-paying bullion.

Persons: Ilya Spivak, Silver Organizations: Investors, U.S . Federal Reserve, of Locations: U.S

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