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☆ Morning Bid: Oil-fueled rally turns to Powell
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +5 min

[1/2] Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. And that's hit home by dragging U.S. pump prices down to levels not seen since March. Overall, U.S. 10-year yields remained on the back foot at 4.57% first thing and ahead of Wednesday's auction. Although Asian and European stocks fell back a bit, Wall St stock futures were unchanged before the bell. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Kevin Lamarque, Mike Dolan, who's, Christine Lagarde, Andrew Bailey, Michelle Bowman, Austan Goolsbee, Christopher Waller, BoE, Ping, Donald Trump, White, Philip Jefferson, Michael Barr, Lisa Cook, John Williams, Joachim Nagel, Walt Disney, Ralph Lauren, Toby Chopra Organizations: Federal Reserve, Federal, Committee, REUTERS, Mike Dolan Wall, European Central Bank, Bank of England, Atlanta, Fed, Chicago Fed, St, Reuters, Ping An Insurance, HK, New York Fed, Warner Bros Discovery, MGM Resorts, Biogen, Energy, Treasury, Federal Reserve Bank of New, Thomson Locations: Washington , U.S, U.S, Gaza, Tokyo, Ohio, Kentucky, Brussels, Federal Reserve Bank of New York

☆ BT maintains 2024 outlook after Q2 core profit beat
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - BT Group (BT.L), Britain's biggest broadband and mobile provider, posted second quarter earnings slightly ahead of forecasts putting it on track to meet 2024 guidance, in one of the outgoing CEO's final announcements. Strong cost controls helped BT post a 3% rise in adjusted core profit (EBITDA) to 2.06 billion pounds ($2.51 billion) for the three months to the end of September, beating the 2.03 billion pounds consensus forecast. "These results show that BT Group is delivering and on target: we're rapidly building and connecting customers to our next generation networks, we're simplifying our products and services," Jansen said in a statement on Thursday. The quarterly result meant BT maintained its outlook to grow revenue and profits for its current 2024 financial year, and the group said it expected free cash flow towards the top end of its 1 billion to 1.2 billion pound range. ($1 = 0.8215 pounds)Reporting by Yadarisa Shabong in Bengaluru and Sarah Young in London; Editing by Savio D'Souza and James DaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Allison Kirkby, Sweden's, Philip Jansen, Jansen, Yadarisa, Sarah Young, Savio D'Souza, James Davey Organizations: BT, Britain's, Sweden's Telia, Thomson Locations: Bengaluru, London

☆ BT rises after quarterly earnings beat forecasts
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: +1 min

A BT Group Plc logo on a EE/BT Group Plc store in London, UK, on Wednesday, May 17, 2023. BT Group, Britain's biggest broadband and mobile provider, posted a second quarter earnings beat and forecast annual cash flow at the top end of a range, lifting its shares in a parting boost for outgoing CEO Philip Jansen. Shares in BT jumped 5% in early deals, good news for Jansen who is due to step down early next year and has long said he has been disappointed by the group's stock performance. Her job will be to complete Jansen's multi-billion pound push into fibre networks and extending 5G networks, the cost of which has hit free cash flow and weighed on the share price. For the three months to the end of September, BT posted a 3% rise in adjusted core profit (EBITDA) to 2.06 billion pounds ($2.51 billion) beating the 2.03 billion pounds consensus forecast.

Persons: Philip Jansen, Jansen, Hargreaves, Matt Britzman, Allison Kirkby, Sweden's Organizations: BT, BT Group Plc, BT Group Locations: London

☆ Morgan Stanley Names Ted Pick, a Bank Veteran, Its Next C.E.O.
▼ + stars: | 2023-10-25 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +2 min

Pick, 54, joined Morgan Stanley in 1990 and rose through the ranks in its investment banking and trading businesses, most recently serving as a co-president overseeing those units. In an interview, he said he hadn’t found out that he would be named chief executive until around 4:30 p.m. Wednesday, when the bank’s board of directors called him into a meeting and welcomed him with a standing ovation. He stands to inherit a very different bank from the one Mr. Gorman took over after the 2008 financial crisis. The power struggle was captured in “Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley,” by the journalist Patricia Beard. With a strong technology banking practice, Morgan Stanley played a central role last year in Mr. Musk’s takeover of Twitter, now known as X.

Persons: Pick, Morgan Stanley, hadn’t, Gorman, Morgan Stanley’s, John J, Mack, Philip J, Purcell, ”, Patricia Beard, Smith Barney, Morgan Organizations: Credit Suisse, Elon, Twitter

☆ Morning Bid: To 5% and beyond, bond yields soar
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +5 min

The company earnings picture, meantime, was mixed to sour over the past 24 hours in both the U.S. and Europe. Despite decent demand at a typically awkward 20-year bond auction on Wednesday, yields continued to spiral higher overnight and ahead of Fed Chair Jerome Powell's key speech later on Thursday. The upshot of all factors has seen Treasury yields climb ever higher through the night - with two-year and 20-year yields , now both above 5.25%, the latter at a record high and the former the highest since 2006. Ten and five-year tenors also saw yields soar to within a hair's breadth of 5% early on Thursday too. The ructions in the bond market and incoming earnings saw Wall St indexes (.SPX), (.NDX) hit their lowest in 10 days on Wednesday and futures were in the red again ahead of the open today.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Republican Jim Jordan, Blackstone, Philip Morris, Jerome Powell, Philip Jefferson, Michael Barr, Lorie Logan, Austan Goolsbee, Raphael Bostic, Patrick Harker, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S, Netflix, Republican, Bank of Japan, Mortgage Bankers Association, HK, Fifth Third Bancorp, Philip Morris , Union Pacific, CSX, Truist Financial, American Airlines, Alaska Air, Philadelphia Fed, U.S . Federal, Dallas, Chicago Fed, Atlanta Fed, Treasury, Housing, Reuters, Thomson Locations: New York City, U.S, Washington, Venezuela, Europe, Frankfurt, Freeport, McMoRan, China

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

☆ Here are 3 things to watch in the stock market after a very difficult week
▼ + stars: | 2023-10-14 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +10 min

MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, WTI, Jerome Powell's, There's, Patrick Harker, John Williams, Harker, Austan Goolsbee, Lorie Logan, Powell, Christopher Waller, Philip Jefferson, Waller, Jefferson, – Morgan Stanley, Gamble –, Morgan Stanley YTD, Morgan, Jim Cramer, Morgan Stanley, there's, Gamble, Jim, we'll, Charles Schwab, Goldman Sachs, Johnson, Philip Morris, — CNBC's Zev Fima, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow, Columbus Day, West Texas, Federal Reserve, Club, Fed, Market, Philadelphia Fed, New York Fed, Chicago Fed, Dallas Fed, United Auto Workers, General Motors, Chrysler, Ford, National Association of Realtors, Procter, Procter & Gamble, Natural Resources, Exxon Mobil, Coterra Energy, of America, United Airlines, Gamble, Housing, Netflix, Alcoa, American Airlines, Taiwan Semiconductor Manufacturing Company, Alaska Air, CSX, American Express, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Israel, U.S, New, Wells, KBW, Silicon, Manhattan, New York City

The 10-year yield on Thursday afternoon stood at about 4.7%, some 18 basis points from the 16-year highs touched last week. “Every time the Fed pauses, yields come down, but the market is not convinced they’re quite there yet." There's plenty of evidence that financial conditions, which reflect the availability of credit in the economy, have tightened in recent months. Credit market spreads have widened as investors demand a higher yield on riskier assets, such as corporate bonds. Fed funds futures show investors pricing in a roughly 15% chance of the central bank's raising rates next month, from around 27% last week.

Persons: Dado Ruvic, ”, Leslie Falconio, they’re, Philip Jefferson, Lorie Logan, Mark Dowding, Goldman Sachs, Edward Al, Hussainy, Neuberger Berman, Jonathan Cohn, Davide Barbuscia, Ira Iosebashvili, Megan Davies, Leslie Adler Organizations: REUTERS, Federal, . Treasury, UBS Global Wealth Management, Reuters Graphics, Dallas Fed, RBC Global Asset Management, Reuters, Treasury, Columbia, Nasdaq, Nomura Securities International, Thomson

☆ Asian shares rally as markets wager on Fed pivot; US inflation in focus
▼ + stars: | 2023-10-12 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.7% to the highest level in three weeks. Tokyo's Nikkei (.N225) rallied 1.3% for a third straight day, climbing away from its five-month low hit last week. U.S. Fed Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let it "watch and see" if its own policy rate needs to rise again or not. With the long-awaited pivot for the Fed in sight, traders are bracing for the all-important U.S. consumer inflation report later in the day. Stakes are higher because a producer price inflation report came in hotter than expected on Wednesday.

Persons: HSI, Christopher Waller, Waller, Philip Jefferson, Lorie Logan, Alan Ruskin, payrolls, Brent, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Federal Reserve, Tokyo's Nikkei, Central Huijin Investment, Federal, U.S, Fed, Dallas Fed, Markets, FedTool, Deutsche Bank AG, Saudi, . West Texas, Thomson Locations: Asia, Pacific, Japan, U.S, Saudi Arabia, Israel, Palestine

Oct 11 (Reuters) - U.S. Federal Reserve Governor Christopher Waller on Wednesday said higher market interest rates may help the Fed slow inflation, and let the central bank "watch and see" if its own policy rate needs to rise again or not. We will see how those higher rates feed into what we do on policy in the coming months." Waller's comments added weight to similar statements this week by Fed Vice Chair Philip Jefferson and Dallas Fed President Lorie Logan. Still, Waller offered some of the most optimistic reads yet on the path of inflation. "We're finally getting very good inflation data," he said.

Persons: Christopher Waller, Waller, Paul Ryan, Philip Jefferson, Lorie Logan, We're, Howard Schneider, Andrea Ricci Organizations: . Federal, Republican, Wisconsin, Dallas Fed, Treasury, Reuters, Thomson Locations: Utah

According to the minutes, "several participants" felt that "the focus of monetary policy decisions and communications should shift from how high to raise the policy rate to how long to hold the policy rate at restrictive levels." For now, "all participants agreed that policy should remain restrictive for some time" until it is clear inflation "is moving down sustainably toward its objective." The release on Thursday of the consumer price index report for September could add to the impetus for the Fed to remain on hold. Waller said that if recent month-to-month inflation trends continue, it would mean "we're pretty much back to our target." Reporting by Howard Schneider; Additional reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Philip Jefferson, Christopher Waller, Waller, Paul Ryan, Howard Schneider, Ann Saphir, Paul Simao Organizations: U.S, Treasury, U.S . House, Investors, Fed, Thomson Locations: U.S, Utah

☆ Most Fed officials expect one more interest rate hike and that they'll remain elevated for a while, minutes show
▼ + stars: | 2023-10-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Most Federal Reserve officials said last month that they expect one more rate hike, according to minutes from their September policy meeting released Wednesday. Some officials said that how fast inflation cools in the coming months will determine how long rates remain elevated. Inflation’s steady descent over the past year, and the job market’s gradual cooldown, gave officials enough reassurance to pause, the minutes showed. The central bank’s latest set of economic projections also showed that most Fed officials expect fewer rate cuts next year, confirming investors’ fears that rates could remain higher for longer. It’s unclear how much higher yields will weigh on economic activity, but several Fed officials have said in public remarks this week that it could mean less action from the Fed.

Persons: ’, Jerome Powell, Philip Jefferson, ”, Lorie Logan, Mack Trucks Organizations: DC CNN, Federal, Fed, Treasury, ” Dallas, Employers, Labor Department, United Auto Workers, UAW Locations: Washington

In both cases the outcome would push the Fed from that "golden path" onto a far more familiar one: An economy buckling as borrowing costs rise and confidence wanes. "I don't think it is unavoidable" that joblessness will have to rise significantly for inflation to return to target, Dallas Fed President Lorie Logan said on Monday. But the most important thing is that we stay focused on restoring price stability, and I think that will require some rebalancing in the labor market." Her look at past periods of inflation and disinflation makes her think the labor market may still need a shock for the Fed to succeed. "As nice as it is to see a really strong labor market, when you are trying to get inflation down, that's not your friend."

Persons: Lorie Logan, Philip Jefferson, Austan Goolsbee, Jefferson, Christina Romer, Romer, Goolsbee, that's, Howard Schneider, Ann Saphir, Dan Burns, Paul Simao Organizations: DALLAS, Federal, National Association for Business Economics, Dallas, Chicago Fed, Treasury, University of California, White House's Council, Economic Advisers, Fed, Thomson Locations: U.S, Dallas, Israel, Palestinian, Berkeley

☆ The days of rising interest rates could soon be over
▼ + stars: | 2023-10-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: US Treasury rates are white hot — 10-year Treasury yields are near their highest levels since 2007. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. US mortgage rates are at 23 year-highs, and home affordability is at its lowest level since 1984.

Persons: haven’t, Philip Jefferson, ” That’s, Lorie Logan, Raphael Bostic, ”, “, ” Bostic, Mary Daly, Bonds, What’s, Birkenstock, Elisabeth Buchwald, Megan Penick, Robinson, Rachel Ramirez, It’s, they’re Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Financial, CME, Treasury, New York Federal Reserve, Federal Reserve Bank of New, Consumer, Dallas, Federal Reserve Bank of Atlanta, American Bankers Association, San Francisco Fed, Index, PPI, CPI, New York Stock Exchange, Renaissance, Nature Communications Locations: New York, Germany, Czech Republic, Slovenia

☆ Dollar stalls as dovish Fed tone dials down rate expectations
▼ + stars: | 2023-10-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Oct 10 (Reuters) - The dollar remained steady against major peers on Tuesday, after a pause in its rally following a slight dovish shift in Federal Reserve officials' tone. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the Fed funds rate," said Dallas Fed president Lorie Logan -- a notable shift from previously hawkish rhetoric. Fed Vice Chair Philip Jefferson said the central bank would need to "proceed carefully" given the recent rise in yields. "There are another 13 Fed speakers scheduled this week which could see this theme develop further," said analysts at Westpac. "The idea that the increases in bond yields have done part of the tightening job appears to be gaining traction among some Fed officials," said OCBC rates strategist Frances Cheung.

Persons: Dado Ruvic, Lorie Logan, Philip Jefferson, Frances Cheung, Ken Cheung, Tom Westbrook, Sam Holmes, Simon Cameron, Moore Organizations: REUTERS, Rights, Federal, New, East, Swiss, Palestinian, Dallas, Fed, Westpac, Columbus, People's Bank of, Thomson Locations: Rights SINGAPORE, Asia, New Zealand, Israeli, Israel, Tokyo, People's Bank of China

☆ Gold rally loses steam as yields edge up, stocks rebound
▼ + stars: | 2023-10-10 | by ( Harshit Verma | ) www.reuters.com time to read: +2 min

(Reuters) - Gold prices edged down on Tuesday after clocking a sharp rise in the last session as risk sentiment improved and bond yields rebounded, while investors awaited the U.S. inflation data due later this week. Gold rose about 1.6% on Monday, its biggest one-day jump in five months, as military clashes between Israel and Palestinian Islamist group Hamas boosted demand for safe-haven investments. European stocks rebounded sharply on Tuesday as dovish comments from Fed policymakers and easing oil prices helped calm investor nerves. Benchmark 10-year Treasury yields rose to 4.7049%, decreasing the appeal for non-yielding bullion. Spot silver fell 0.8% to $21.72 per ounce, platinum slipped 0.3% to $883.97 and palladium dropped 0.8% to $1,130.52.

Persons: Alexander Manzyuk, ”, Craig Erlam, Erlam, Philip Jefferson, Lorie Logan, Kyle Rodda Organizations: Reuters, REUTERS, OANDA, U.S, Consumer, Dallas Fed Locations: Novosibirsk, Siberian, Russia, Israel, Palestinian, U.S . Federal, EU, U.S

☆ Dollar slips as dovish Fed speak dials down rate expectations
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: +2 min

The dollar softened on Tuesday along with U.S. interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials' tone. The yen held small gains as violence in the Middle East supported buying of safe-haven assets, and last traded firmly at 148.34 per dollar. However comments from two Fed officials turned around the mood and U.S. rate forecasts overnight after noting the recent selloff in bonds might negate the need for further hikes. Fed Vice Chair Philip Jefferson said the central bank would need to "proceed carefully" given the recent rise in yields. "A handful of other officials, including Fed Governor Christopher Waller, are scheduled to speak today.

Persons: —, Lorie Logan —, Philip Jefferson, Christopher Waller, Carol Kong, Sterling Organizations: Treasury, Federal, East, Swiss, Dallas, Columbus, New Zealand Locations: Asia, Tokyo

☆ Treasury yields fall as investors seek safe havens amid Israel-Hamas conflict
▼ + stars: | 2023-10-10 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 2-year Treasury yield was down by over nine basis points to 4.9843%. The 10-year Treasury yield was last more than 12 basis points lower at 4.6571%. U.S. Treasury yields fell on Tuesday as trading resumed after Columbus Day, with investors weighing the potential geopolitical and economic impact of the Israel-Hamas war . Concerns about the implications of the Israel-Hamas conflict continued, with investors considering whether it may affect markets and the global economy. Investors poured into government bonds, which are traditionally seen as safer investments, driving Treasury yields lower.

Persons: Philip Jefferson, Lorie Logan Organizations: U.S, Treasury, Columbus, Investors, Hamas, Israel, Federal, Dallas, Fed, International Monetary Fund Locations: Israel, Gaza

☆ Gold builds on Middle East conflict-fueled gains as U.S. dollar, bonds retreat
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Spot gold gained 0.1% to $1,862.80 per ounce by 0314 GMT, after earlier hitting its highest since Sept. 29. Gold rose about 1.6% on Monday, its biggest one-day jump in five months, as military clashes between Israel and Palestinian Islamist group Hamas boosted demand for safe-haven assets and oil. "The events in the Middle East have provided a catalyst for gold to rebound from oversold conditions," said Kyle Rodda, financial market analyst at Capital.com. Spot silver fell 0.2% to $21.85 per ounce, platinum rose 0.3% to $889.11 and palladium climbed 0.5% to $1,144.82.

Persons: Kyle Rodda, Philip Jefferson, Lorie Logan Organizations: Aurum, U.S, Federal Reserve, Capital.com, Dallas Fed Locations: Israel, Palestinian, U.S

☆ Treasury-bond rout eases as more Fed officials hint further rate hikes may not be necessary
▼ + stars: | 2023-10-10 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Bond yields plunged lower Tuesday following comments from Fed officials about a rate hike reprieve. Atlanta Fed President Raphael Bostic said he sees no need for further rate hikes to cool down the economy. Dallas Fed President Lorie Logan said rising term premiums on bonds may do the job of rate hikes. AdvertisementAdvertisementUS Treasurys rallied Tuesday, taking a breather after a blistering sell-off, as more Federal Reserve officials suggested further rate hikes may not be needed. More than a year and a half of steady rate hikes has brought the fed funds rate to a 22-year high.

Persons: Raphael Bostic, Lorie Logan, —, Bostic, Philip Jefferson Organizations: Atlanta Fed, Dallas, Service, Federal Reserve, American Bankers Association, National Association for Business Locations: Israel, Dallas

☆ Morning Bid: 'Remarkable' US markets surf crosscurrents
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Stock futures are higher once again ahead of the bell today. As cash Treasury markets returned from Monday's Columbus Day holiday to a week of heavy long-term debt auctions, they were also greeted with rekindled optimism about the Federal Reserve's policy rate trajectory. Ten-year U.S. Treasury yields are set to kick off Tuesday's U.S. trading day at some 4.65% - almost a quarter of a percentage point below the peak set just after Friday's blowout September jobs report. Elsewhere, PepsiCo (PEP.O) edged 0.8% higher ahead of the beverage maker's third-quarter results and Unity (U.N) jumped 6.4% after the video-game software maker said its CEO John Riccitiello would retire.

Persons: Brendan McDermid, Mike Dolan, Lorie Logan, Logan, Philip Jefferson chimed, John Riccitiello, Christopher Waller, Neel Kashkari, Mary Daly, Raphael Bostic, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Columbus, Federal, Dallas Fed, Treasury, Monetary Fund, IMF, World Bank, Fund, HK, Bloomberg, Alibaba, Baidu, PepsiCo, Reserve, San Francisco Fed, Atlanta Fed, PepsiCo NFIB Consumer, Reuters Messaging, Thomson, Reuters Locations: New York City, U.S, Israel, Marrakesh, China, Beijing, Minneapolis, San

☆ Cramer says the pullback in bond yields is 'what I want,' as stocks edge up
▼ + stars: | 2023-10-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "This decline in yields and increase in bond [prices] is what I want," Jim Cramer said Tuesday. And Club holding Amazon (AMZN) remained the market leader in ecommerce, with 55% of teens citing the platform as their No. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Philip Jefferson, Vimal Kapur, Jim, Kapur, Piper Sandler, Mary Dillon, Jim Cramer's Organizations: CNBC, Treasury, Federal, West Texas, Club, Honeywell, Aerospace Technologies, Industrial Automation, Energy, Sustainability Solutions, Tuesday, TJX Companies Locations: ecommerce, TJX, FL

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

“I will remain cognizant of the tightening in financial conditions through higher bond yields and will keep that in mind as I assess the future path of policy,” Jefferson said in remarks to the National Association for Business Economics. The remarks by Jefferson and earlier by Dallas Fed president Lorie Logan, one of the Fed system's more influential voices on financial markets, caused investors to undercut the likelihood of further Fed rate increases. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the fed funds rate," said Logan, who has been among the more hawkish officials in supporting the need for continued rate increases. Since the Fed last raised its policy interest rate a quarter of a percentage point in July, long-term bond yields have risen a full percentage point, a fast rate of change for a massive market. A rise in the so-called “term premium," if it proves persistent, could put an enduring drag on the economy and perhaps give the Fed less reason to raise its own policy rate.

Persons: Philip Jefferson, ” Jefferson, Jefferson, Lorie Logan, FedWatch, Gregory Daco, Logan, policymaker, Chris Varvares, Howard Schneider, Andrea Ricci, Nick Zieminski Organizations: DALLAS, Federal, Treasury, National Association for Business Economics, Dallas, New York Fed, Fed, P, Thomson Locations: U.S, Jefferson, Israel

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