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More than 1,200 people in Israel died, most of them in the Hamas attack, and about 240 hostages were taken from Israel into Gaza by Palestinian militants. The army said Tuesday that it has captured Gaza’s legislature building, the Hamas police headquarters and a compound housing Hamas’ military intelligence headquarters. Israeli news sites showed pictures of Israeli soldiers hoisting the Israeli national flag and military flags in some of the buildings. The Israeli military did not give a reason for her death, while Hamas said she was killed in an Israeli strike. On Nov. 5, the Israeli military struck a car on the road between the southern Lebanese towns of Ainata and Aitaroun.

Persons: —, Gilad, Luiz Inácio Lula da Silva, Lula, ” Lula, “, Lynn Gottlieb, KNTV, WASHINGTON, Janet Yellen, Shelly Shem Tov, Omer Shem Tov, Benjamin Netanyahu, JERUSALEM — Vivian Silver, Silver, Yonatan Zeigen, ” Zeigen, Noa Marciano, Marciano, ”, Israel, Iqbal Abu Saud, Ramzi Kaiss, Israel’s, KFAR, Ayelet, David Kachko Kazir, Aftonbladet Organizations: Palestinian, Hamas, Health Ministry, “, FIRE, Jewish, Peace, Berkeley, Consulate, Grand, Station, New York, Islamic, Treasury Department, TEL, JERUSALEM TEL, Israel, JERUSALEM, Israel Radio, Rights Watch, Israel — Residents, DR Locations: Gaza, Israel, Gaza City, Palestinian, Gaza's, Detroit, israel, ISRAEL, GAZA, JERUSALEM, DE JANEIRO, Brazil, “, CALIFORNIA, FIRE OAKLAND, California —, Oakland , California, Chicago, New York, United States, Islamic Jihad, Iran, Lebanese, United Kingdom, U.S, TEL AVIV, JERUSALEM TEL AVIV, Tel Aviv, Jerusalem, Canadian, BEIRUT, Lebanon, Ainata, Rights Watch Lebanon, KFAR AZA, Israel —, Kfar Aza, SWEDEN, DENMARK, COPENHAGEN, Denmark, Sweden, Danish, Egypt

[1/5] A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 14 (Reuters) - A benign U.S. inflation report is bolstering hopes that the Federal Reserve can bring down consumer prices without hurting the economy, a so-called Goldilocks environment that investors believe will benefit stocks and bonds. This does feel like a Goldilocks moment for the entire market.”The data fueled a powerful rally in stocks and bonds. The S&P 500 (.SPX) was up about 2% on the day, on track for its biggest one-day rise since January. Still, some investors believed it was too early to call a victory in the fight against inflation.

Persons: Brendan McDermid, Eric Kuby, bearish, “, Daniel Kirsch, Piper Sandler, Thomas Hayes, ”, Brian Rose, Jamie Cox, Lewis Krauskopf, Saqib Iqbal Ahmed, Davide Barbuscia, Ankika Biswas, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, North Star Investment Management Corp, Thomson Reuters, BofA's Global, Fed, Fund, UBS Global Wealth Management, Harris Financial, Thomson Locations: New York City, U.S, Thomson Reuters United States, New York, Bengaluru

☆ Investors wary of lingering Treasury volatility as US stocks rally
▼ + stars: | 2023-11-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Nov 10 (Reuters) - A still-jittery bond market is clouding the outlook for a rally in U.S. stocks, analysts tracking measures of market volatility said. At the same time, the Cboe Volatility Index, (.VIX), which measures expectations for stock gyrations, has fallen to a seven-week low of 14.13. That could be a problem if Treasury yields - which move inversely to bond prices - resume a climb that has pressured stocks since the summer. A significant drop in Treasury market volatility would be great news for stock market bulls, Purves said.

Persons: Carlo Allegri, Stocks, Alex Kosoglyadov, Michael Purves, Purves, Saqib Iqbal Ahmed, Ira Iosebashvili, Paul Simao Organizations: New York Stock, REUTERS, Treasury, Equity, Nomura, Capital, Thomson Locations: Manhattan, New York City , New York, U.S

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 10 (Reuters) - A hawkish lean from Federal Reserve Chair Jerome Powell chilled a recent rebound in stocks and bonds, with some investors suggesting the central bank was pushing back against loosening financial conditions. Some investors said Powell may have been leaning against a recent loosening of financial conditions that has come as yields have tumbled in recent weeks. Evidence of the dynamic between yields and financial conditions - factors that reflect the availability of funding in an economy - was on display in last week's 0.5% decline in the Goldman Sachs Financial Conditions Index, its sixth-biggest weekly drop since 1990. "If their concept is to have tighter financial conditions, they can’t really let those yields go down. "The rally of the markets both in equity and fixed income unwound the financial conditions tightening to a large degree," Desai said.

Persons: Jerome Powell, Brendan McDermid, Powell, Charlie Ripley, Powell …, Spencer Hakimian, Sonal Desai, Franklin, Desai, Vassili Serebriakov, Jeffrey Roach, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Karen Brettell, Ira Iosebashvili, Sam Holmes Organizations: Economic, of New, REUTERS, International Monetary Fund, Treasury, Allianz Investment Management, Goldman, Tolou Capital Management, UBS, Investors, LPL Financial, Thomson Locations: of New York, New York City, U.S, New York

☆ Falling Treasury yields could turn Fed hawkish if financial conditions ease
▼ + stars: | 2023-11-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Falling Treasury yields helped launch an explosive rebound in stocks and lifted U.S. government bonds from 16-year lows. Evidence of the dynamic between yields and financial conditions could be seen in last week’s 0.5% decline in the Goldman Sachs Financial Conditions Index, its sixth biggest weekly drop since 1990. Policymakers have largely refrained from verbally pushing back on the easing in financial conditions during a flurry of appearances by policymakers this week. Analysts at TD Securities, however, believe further easing in Treasury yields will eventually become a "double-edged sword." To be sure, not every scenario sees the Fed in a higher-for-longer posture if Treasury yields continue falling.

Persons: Jerome Powell, Kevin Lamarque, Brian Jacobsen, Jacobsen, CME's, Sameer Samana, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: Federal Reserve, Federal, Committee, REUTERS, Goldman, Treasury, Annex Wealth Management, Reuters Graphics, International Monetary Fund, TD Securities, Fed, Wells, Investment Institute, Thomson Locations: Washington , U.S, United States, China, Samana, U.S

☆ Investors spurn options hedges as U.S. stock rally crushes fear
▼ + stars: | 2023-11-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 8 (Reuters) - Fear has plunged in the U.S. equity market following last week's explosive rally, and some options mavens are urging clients to stock up on portfolio protection while it's cheap. Meanwhile, the Cboe Volatility Index (.VIX), known as Wall Street's fear gauge, has tumbled to its lowest level in seven weeks. They recommended taking advantage of the drop in volatility to deploy stock replacement trades, which involve swapping long stock positions for cheap call options that would reap gains if the market continued to rally. Investors' equity positioning fell to a five-month low before last week's rally, Deutsche Bank data showed. With investors less exposed to stocks, "they don't necessarily need to be rushing to get hedges now," Murphy said.

Persons: Matthew Tym, Cantor Fitzgerald, Cantor's Tym, Chris Murphy, Murphy, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: Federal, Reuters Graphics, Barclays, Treasury, Susquehanna Financial Group, Deutsche Bank, Thomson Locations: U.S, Santa

☆ Wall St Week Ahead Investors seek shelter as U.S. stocks grow more turbulent
▼ + stars: | 2023-10-20 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Wall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index (.VIX), on Friday hit its highest in nearly seven months, as the S&P 500 slid for the week. That has left investors piling into other traditional safe-haven assets such as the dollar and gold, as well as short-term debt. Rising bond yields have dampened risk appetite, raising the cost of capital for companies and offering investment competition to stocks. Geopolitical uncertainties, climbing bond yields and the risk of more losses in stocks means "investors face fresh uncertainties," they wrote.

Persons: Carlo Allegri, Angelo Kourkafas, Edward Jones, “, Jerome Powell, Brent Kochuba, ”, Rick Meckler, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Equity, Treasury, Reuters Graphics, Federal, Microsoft, UBS Global Wealth Management, Swiss, Cherry Lane Investments, UBS, Brent, Thomson Locations: New York, Israel, Cherry Lane Investments .

☆ Falling stocks, climbing mortgage rates: how 5% Treasury yields could roil markets
▼ + stars: | 2023-10-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Expectations that the Federal Reserve will keep interest rates elevated and mounting U.S. fiscal concerns are among the factors driving the move. Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. "The longer we remain at higher interest rates, the more likely something is to break." Elon Musk warned that high interest rates could sap electric-vehicle demand, which knocked shares of the sector on Thursday. Reuters GraphicsThe U.S. dollar has advanced an average of about 6.4% against its G10 peers since the rise in Treasury yields accelerated in mid-July.

Persons: Brendan McDermid, Gennadiy Goldberg, Jerome Powell, Powell, Elon Musk, Tesla’s, gravitating, Athanasios Vamvakidis, Saqib Iqbal Ahmed, Ira Iosebashvili, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, TD Securities, Reuters, Global Research, Reuters Graphics, ICE, Fed, Thomson Locations: New York City, U.S, New York, Treasuries

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. "That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ”, Greg Whiteley, ” Whiteley, Gennadiy Goldberg, Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Megan Davies Organizations: Economic, of New, REUTERS, Treasury, Federal Reserve, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp, Thomson Locations: of New York, New York City, U.S, DoubleLine

☆ Banks’ wealth-management heyday may have passed
▼ + stars: | 2023-10-18 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

For wealth managers, that will make revenue growth much harder to come by, shifting the focus to controlling expenses. LOSING ITS SPARKLEIn Wall Street parlance, wealth management is a capital-light business. Little wonder Morgan Stanley boss James Gorman focused on wealth management after taking charge in 2010. The good news for UBS and Morgan Stanley is that they are better placed than most to handle these pressures. The bank’s wealth-management business generated a 35% ROTE, while the division that houses investment banking and trading managed just 8%.

Persons: UBS –, Morgan Stanley’s, Morgan Stanley, James Gorman, Sergio Ermotti, Goldman Sachs, Italy’s, Iqbal Khan, Morgan Stanley’s Andy Saperstein, Peter Thal Larsen, Sharon Lam, Oliver Taslic Organizations: Reuters, Wealth, UBS, Credit Suisse, HSBC, HK, Lloyds Banking Group, Revenue, Treasury, Big, Thomson Locations: Swiss, United States, Americas, Switzerland, Britain’s St, James’s

☆ Dollar up after inflation data boost
▼ + stars: | 2023-10-13 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. Data on Wednesday had shown U.S. producer prices increased more than expected in September amid higher costs for energy products and food. The dollar index , which measures the U.S. currency against six of its major peers, ticked up 0.11% to 106.63. Sweden's crown , edged up against both the dollar and euro after consumer price data came in higher-than-forecast, adding to risks that the Riksbank could raise rates further. Investors also digested producer and consumer prices data out of China on Friday that showed deflationary pressures were slightly stronger than expected.

Persons: Jose Luis Gonzalez, Helen, Jonas Goltermann, Patrick Harker, Adam Cole, Saqib Iqbal Ahmed, Brigid Riley, Samuel Indyk, Miral Fahmy, Mark Potter, Alexander Smith, Jonathan Oatis Organizations: REUTERS, U.S, Federal, Reuters, PPI, Capital Economics, Fed, Federal Reserve Bank of Philadelphia, RBC, of Canada, Thomson Locations: Ciudad Juarez, Mexico, Israel, Gaza, Sweden's, China

☆ Options traders see larger-than-usual stock swings as banks report results
▼ + stars: | 2023-10-12 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Oct 12 (Reuters) - Options traders are braced for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. Big banks, including JPMorgan (JPM.N), Wells Fargo (WFC.N) and Citigroup Inc (C.N) are set to report financial results on Friday, with others, including Goldman Sachs (GS.N) and Morgan Stanley (MS.N), due next week. The biggest U.S. consumer lenders are set to post higher third-quarter profits, in contrast with investment banks still facing a dealmaking slump, analysts said. Options data shows traders braced for a larger-than-usual post-earnings move from Wells Fargo in particular. The options-implied earnings move for Goldman Sachs, Morgan Stanley, Bank of America (BAC.N) and Citigroup also signal a larger-than-usual post-earnings swing, data from Trade Alert showed.

Persons: JP Morgan Chase, Mike Segar, Goldman Sachs, Morgan Stanley, Mike Santomassimo, Steve Sosnick, Saqib Iqbal Ahmed, Richard Chang Organizations: JP, Co, REUTERS, JPMorgan, Citigroup Inc, U.S, Traders, Bank of America, Citigroup, Trade, Interactive, Thomson Locations: New York, Wells Fargo

The dollar index , which measures the currency's strength against a basket of six rivals, was down 0.31 % to 106.03 . The index rose as high as 106.98 earlier in the session after data showed U.S. nonfarm payrolls increased by 336,000 jobs last month. The numbers for August were revised higher to show 227,000 jobs added instead of the previously reported 187,000. Economists polled by Reuters had forecast September payrolls rising by 170,000 jobs. The payrolls data showed monthly wage growth remained moderate, with average hourly earnings rising 0.2% after a similar gain in August.

Persons: Dado Ruvic, nonfarm, Karl Schamotta, Tony Welch, Helen, Corpay's Schamotta, Saqib Iqbal Ahmed, Gertrude Chavez, Dreyfuss, Chuck Mikolajczak, Rae Wee, Alun John, Marguerita Choy, Susan Fenton, Andrew Heavens Organizations: REUTERS, U.S, Reuters, Thomson Locations: U.S, Toronto, Atlanta, New York, Singapore, London

Jobs growth for September nearly doubled expectations as nonfarm payrolls increased by 336,000 for the month, strengthening views that policymakers will need to keep interest rates elevated to cool inflation. Treasury yields move inversely to bond prices. “It’s quite a report,” said Peter Cardillo, chief market economist at Spartan Capital Securities. On the long end of the curve, 30-year yields surged above 5% hitting their highest since 2007. However, Craig Ellinger, head of Americas fixed income at UBS Asset Management, believes more rate increases could be in store.

Persons: Dado Ruvic, ”, Peter Cardillo, Jake Schurmeier, ” Alex McGrath, Tiffany Wilding, Craig Ellinger, Ellinger, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Stephen Culp, Sruthi Shankar, Ira Iosebashvili, Chizu Nomiyama, Diane Craft Organizations: REUTERS, U.S, Treasury, Federal Reserve, Spartan Capital Securities, Harbor Capital, ADP, Fed, UBS Asset Management, Thomson Locations: Treasuries, Americas

☆ US dollar's rally supercharged by soaring real yields on Treasuries
▼ + stars: | 2023-10-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

At the same time, climbing real yields make it more expensive to bet against the dollar. With real yields pushing higher, "only the bravest of traders are willing to bet against the greenback," he said. That, combined with a deceleration in inflation, has sent real yields soaring. The dollar has tracked real yields in recent years, with peaks and troughs closely aligned. Still, high real yields make him hesitant to short the U.S. currency.

Persons: Dado Ruvic, Karl Schamotta, Aaron Hurd, Hurd, Corpay's Schamotta, Saqib Iqbal Ahmed, Chuck Mikolajczak, Ira Iosebashvili, David Gregorio Our Organizations: REUTERS, U.S . Treasury Department, Futures Trading Commission, UBS Global Wealth Management, State Street Global Advisors, Thomson Locations: Toronto, U.S, Europe, China

☆ Soaring Treasury yields ignite turbulence throughout markets
▼ + stars: | 2023-10-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. Higher Treasury yields can curb investors' appetite for stocks and other risky assets by tightening financial conditions as they raise the cost of credit for companies and individuals. With some Treasury maturities offering far above 5% to investors holding the bonds to term, rising yields have also dulled the allure of equities. Reuters GraphicsWith Treasury yields surging, credit market spreads have widened as investors demand a higher yield on riskier assets, such as corporate bonds. The MOVE index (.MOVE), a measure of expected volatility in U.S. Treasuries, has surged to a 4-month high, signaling expectations for continued Treasury market ructions.

Persons: Andrew Kelly, That's, Saqib Iqbal Ahmed, Davide Barbuscia, Ira Iosebashvili, Nick Zieminski Organizations: United States Department of, Washington , D.C, REUTERS, Treasury, Federal Reserve, Bank of America Global Research, Reuters, Traders, Reuters Graphics, Silicon Valley Bank, Signature Bank, Thomson Locations: Washington ,, U.S, Silicon

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Traders have been on watch for weeks for a possible intervention by Japanese officials to combat a sustained depreciation in the yen. "It could just be people expecting intervention and then reacting to what they believed to be intervention," said Asher. To support the Japanese currency, authorities need to tap Japan's foreign reserves of dollars to sell for yen. A senior Japanese ministry of finance official declined to comment on whether Japan had intervened in foreign exchange markets.

Persons: Florence Lo, Michael Brown, Brown, Colin Asher, Asher, Niels Christensen, Jeremy Stretch, Edward Moya, Stretch, Tuesday's, Chuck Mikolajczak, Samuel Indyk, Saqib Iqbal Ahmed, Gertrude Chavez, Dreyfuss, Dhara Ranasinghe, Lucy Raitano, Ira Iosebashvili, Megan Davies, Jonathan Oatis, Andrea Ricci, Hugh Lawson, Gareth Jones Organizations: U.S, REUTERS, Trader, Mizuho, Nordea, Bank of Japan, New York Federal Reserve, CIBC Capital Markets, Ministry, Finance, Seven, Japan, Thomson Locations: TOKYO, London, Copenhagen, Japan, U.S, Tokyo, Asia, New York, United States

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Seven megacap stocks -- Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon (AMZN.O), Nvidia (NVDA.O), Tesla (TSLA.O) and Meta Platforms (META.O) -- have led broader markets higher this year. Their rising stock prices ballooned valuations, however, and some investors say the megacaps could be vulnerable if climbing bond yields keep pressuring stocks. "When the big tech stocks start going down ... the indexes go down," said Matt Maley, chief market strategist at Miller Tabak. Still, strategists point out that the rise in implied volatility for tech stocks is no more than for the broader market.

Persons: Carlo Allegri, megacaps, LSEG, Matt Maley, Miller, ”, Matt Stucky, Chris Murphy, Rick Meckler, J, Bryant Evans, ” Evans, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock, REUTERS, Microsoft, Nvidia, Apple, Federal Reserve, Northwestern Mutual Wealth Management, Nasdaq, Susquehanna Financial Group, Amazon, Cherry Lane Investments, Cozad Asset Management, Thomson Locations: Manhattan, New York City , New York, U.S, New Jersey

☆ Traders wary of volatility as JP Morgan fund's big options trade looms
▼ + stars: | 2023-09-28 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

The fund's sheer size means its options reset can rack up a massive surge in trading volume in S&P 500 options and set off related hedging activity that can aggravate market moves. How the fund's rebalancing could end up affecting the whole market has to do with market makers - typically big financial institutions that facilitate trading but seek to remain market-neutral. As things stand, with the S&P 500 trading around the 4,290 level, market makers are short about 40,000 September 29 S&P 500 options at the 4,210 strike. Market makers who have sold these put options must sell stock futures to minimize their own risk, as the market drifts closer to the strike price of the sold options. "As we move lower, market makers need to sell and as we move higher market makers need to buy it back," Murphy said.

Persons: Brendan McDermid, Morgan, Chris Murphy, Murphy, Brent Kochuba, Saqib Iqbal Ahmed, Megan Davies, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, JPMorgan Hedged Equity, Apple Inc, Microsoft Corp, Amazon.com Inc, Treasury, Susquehanna Financial Group, Traders, Thomson Locations: New York City, U.S

KARACHI, Pakistan, Sept 28 (Reuters) - Pakistan's rupee has gained 6.1% against the dollar so far in September, following an official clampdown on illegal foreign exchange trade in grey and black markets by security agencies. September's gains have almost made up for all of the rupee's losses in August and technically make it the best-perfoming currency in the world this month. The Pakistani rupee closed 0.3% up in the interbank market at 287.8 per dollar on Thursday. The crackdown on black market operators against the informal market resulted in tens of millions of dollars pouring back into Pakistan's interbank and open markets, dealers said. "The rupee has indeed performed well but this data does not reflect the sharp depreciation preceding this performance.

Persons: Fahad Rauf, Ismail Iqbal, Rauf, Ariba Shahid, Jane Merriman, Sharon Singleton, Hugh Lawson Organizations: Finance Ministry, Research, Ismail, Ismail Iqbal Securities, International Monetary Fund, Thomson Locations: KARACHI, Pakistan, Karachi

☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

☆ Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. The Japanese yen strengthened against the greenback before Friday's Bank of Japan policy announcement, while the pound and the Swiss franc slipped after the British and Swiss central banks kept rates unchanged. The BOJ will end its negative interest rate policy next year, the majority of economists said in a Reuters poll, as the market has begun to envisage the demise of its ultra-easy monetary settings. The pound fell to its lowest since March after the Bank of England held interest rates steady on Thursday, following a cooler-than-expected inflation report the previous day. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations.

Persons: Jason Lee, Helen, Powell didn't, BoE, Monex's, Brad Bechtel, Sweden's, bitcoin, Saqib Iqbal Ahmed, Sam Holmes, Shri Navaratnam, Sharon Singleton, Richard Chang Organizations: Hong, REUTERS, U.S, Federal Reserve, Friday's Bank of Japan, Swiss, British, Fed, Monex, ECB, Traders, FX, Jefferies, Bank of England, Swiss National Bank, Thomson Locations: Hong Kong, Swiss, Japan, Swedish, Norwegian

☆ U.S. stock prices near level for 'mechanical selling' - Nomura's McElligott
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

[1/2] Options floor brokers work on the floor of the NYSE American, formerly known as the American Stock Exchange (AMEX), at New York Stock Exchange (NYSE) in New York City, U.S., July 11, 2023. On Wednesday, the S&P 500 (.SPX) dropped to 4,401.38, near a a four-week low, putting the index on the verge of setting off a deluge of "mechanical selling", or stock selling by options dealers and certain trend-following investors, including commodity trading advisors (CTAs), Nomura’s McElligott said. The selloff also pushed the Cboe Volatility Index (.VIX) - an options-based gauge of expected stock market gyrations - to its highest in nearly four weeks. A drop below the 4,409 level for the S&P 500 triggers selling by CTAs with an estimated $12.3 billion of stock futures up for sale in aggregate, McElligott estimates. If investors react to the latest drop in the market by selling volatility or by taking profits on existing hedges it could help stifle the selling pressure on the market, he said.

Persons: Brendan McDermid, Nomura, Charlie McElligott, Nomura’s McElligott, McElligott, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: NYSE, American Stock Exchange, New York Stock Exchange, REUTERS, Federal Reserve, Thomson, & $ Locations: New York City, U.S, Charlie McElligott .

☆ Dollar higher as Fed skips rate hike but stiffens hawkish stance
▼ + stars: | 2023-09-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range, just a quarter of a percentage point above the current range. But from there, the Fed's updated quarterly projections show rates falling only half a percentage point in 2024 compared with the full percentage point of cuts anticipated at the meeting in June. Interest rate sensitive two-year Treasury yields hit 17-year highs on Wednesday after the Fed decision. "It looks as though the Fed is trying to send as hawkish a signal as it possibly can," said Gennadiny Goldberg, interest rate strategist at TD Securities. The yen was down 0.13% versus the greenback at 148.05 per dollar after the Fed decision.

Persons: Dado Ruvic, Karl Schamotta, Schamotta, Jerome Powell, Gennadiny Goldberg, Dominic Bunning, BoE, Masato Kanda, Janet Yellen, bitcoin, Saqib Iqbal Ahmed, Herbert, Joice Alves, Brigid Riley, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, U.S, Federal Reserve, TD Securities, Bank of England, Reuters, FX Research, HSBC, Washington, Treasury, Thomson Locations: Toronto, Japan, U.S, New York, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 20 (Reuters) - Shares of Arm Holdings fell for a fourth straight session on Wednesday after the chip designer's stellar market debut last week, with short seller interest picking up. That was up from 5.12 million shares on loan, or 2.7% of the stock's free float, on Tuesday. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, Ortex said. Arm and Instacart were "pumped up to do the IPO," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Arm also has a limited number of publicly traded shares, with SoftBank (9984.T) holding a roughly 90% stake.

Persons: Dado Ruvic, Ortex, Peter Tuz, Caroline Valetkevitch, Lewis Krauskopf, Saqib Iqbal Ahmed, Lance Tupper, Richard Chang Organizations: REUTERS, Arm Holdings, Chase Investment, People, Thomson Locations: Charlottesville , Virginia

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