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☆ 10-year Treasury yield dips slightly as traders weigh up Fed officials' comments
▼ + stars: | 2024-10-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield slipped over 1 basis point to 4.021%. The 10-year U.S. Treasury yield wavered slightly early Wednesday as bond traders digested the latest comments from Federal Reserve officials this week. Bond markets reopened Tuesday after the Columbus Day holiday on Monday, with bond traders digesting the latest comments from Fed officials this week. On Tuesday, however, San Francisco Fed President Mary Daly said there's room for the central bank to lower rates further. No Fed officials are due to speak publicly Wednesday and no major economic data releases are due.

Persons: Neel Kashkari, Christopher Waller, Mary Daly, —, Lisa Kailai Han, Sophie Kiderlin Organizations: Treasury, Federal Reserve, Bond, Columbus, Minneapolis, San Francisco Fed

☆ Treasury yields inch higher after Columbus Day holiday
▼ + stars: | 2024-10-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.9560%, rising over one basis point. U.S. Treasury yields were slightly higher on Tuesday as bond markets reopened after the Columbus Day holiday. Investors were assessing the outlook for the economy as they considered the latest comments from Federal Reserve officials and looked to economic data due throughout the week. Investors are also looking ahead to upcoming economic data releases, including fresh insights from the manufacturing sector on Tuesday, as well as the latest consumer inflation expectations report. In Europe, the next interest rate decision from the European Central Bank is due on Thursday.

Persons: Neel Kashkari, Christopher Waller Organizations: Treasury, Columbus, Federal Reserve, Minneapolis, European Central Bank, ECB Locations: U.S, Europe

The European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles. “Today, the European Commission’s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from E.U. Member States for the adoption of tariffs,” the E.U. first announced that it would slap higher tariffs on Chinese electric vehicle imports in June, on the grounds that they benefit “heavily from unfair subsidies” and pose a “threat of economic injury” to electric vehicle producers in Europe. to start investigations of potential tariffs, Germany has advocated against them, raising concerns about consequences for its own struggling carmakers.

Persons: Peter Szijjarto Organizations: Union, E.U, European, China’s Ministry of Commerce, Reuters, European Commission Locations: China, “, States, Europe, Beijing, E.U, France, Germany, Hungarian

☆ Treasury yields rise as attention shifts to jobs data
▼ + stars: | 2024-10-03 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 3.8056%. The 2-year Treasury yield was last at 3.6539% after rising by more than one basis point. U.S. Treasury yields were higher on Thursday as investors looked to the latest labor market insights and considered the state of the economy. Investors assessed the state of the economy as attention turned to the latest jobs data. Figures from ADP on Wednesday showed that private payrolls grew by more than expected in September, with private companies adding 143,000 jobs.

Persons: Jerome Powell Organizations: Treasury, Investors, U.S . Labor, Federal Reserve

☆ Treasury yields rise as investors weigh economic, geopolitical outlook
▼ + stars: | 2024-10-02 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was last up by 2 basis points at 3.766%. The yield on the 2-year Treasury was last less than 1 basis point higher at 3.625%. Treasury yields were last higher on Wednesday as investors weighed the state of the U.S. economy and considered the latest developments in the Middle East. Powell also said that the recent 50 basis point rate cut from the Fed should not be taken as a signal that the central bank will continue cutting rates aggressively. Treasury yields had pulled back Tuesday as investors looked to them for safety among the developments in the region.

Persons: Dow Jones, Jerome Powell, Powell Organizations: Treasury, U.S . Labor, Federal Reserve, Investors, Tuesday Locations: U.S, Iran, Israel, Lebanon

☆ Treasury yields fall as investors look to fresh economic data
▼ + stars: | 2024-10-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET the yield on the 10-year Treasury was down by over three basis points to 3.7638%. The 2-year Treasury yield was last more than two basis points lower to 3.6289%. U.S. Treasury yields were lower on Tuesday as investors looked ahead to fresh economic data and weighed comments from Federal Reserve Chairman Jerome Powell. On Monday, he indicated that if economic data remained consistent, two more rate cuts could come this year but in smaller, 25-basis-point increments. More Fed policymakers are set to give remarks throughout this week, which investors will be following closely alongside the latest data releases.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Federal, Investors, P Global U.S, Manufacturing, ISM, PMI, U.S . Bureau of Labor Statistics, Labor, Survey

☆ Euro zone inflation falls to 1.8% in September, below the European Central Bank's 2% target
▼ + stars: | 2024-10-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Euro zone inflation fell to 1.8% in September, coming in below the European Central Bank's 2% target, flash data from statistics agency Eurostat showed Tuesday. The reading was in line with the expectations of economists polled by Reuters, after annual inflation hit a three-year-low of 2.2% in August. The core inflation rate, which excludes more volatile energy, food, alcohol and tobacco prices, came in at 2.7%. The figures come after September inflation eased below the 2% European Central Bank target in several key euro zone economies, including France and Germany. European Central Bank President Christine Lagarde on Monday said that policymakers were becoming more confident about inflation returning to the 2% target.

Persons: Christine Lagarde, Lagarde Organizations: Central, Reuters, Central Bank, European Central Bank, European Parliament's, Economic, Monetary Affairs Locations: A Coruna, Spain, France, Germany

☆ German inflation drops to 1.8% in September, below expectations
▼ + stars: | 2024-09-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

The September harmonized CPI figure had been forecast to come in at 1.9% according to a Reuters poll. The German harmonized CPI figure was last under 2% — which is the European Central Bank's target rate for inflation — in February 2021, LSEG data indicated. For that, the still elevated core inflation rate would also need to ease notably. Within Europe, data published last week showed that the harmonized inflation rate in France and Spain fell below the 2% target in September. "The recent series of disappointing economic sentiment indicators and lower-than-expected inflation data have provided new strong arguments for ECB doves," he said.

Persons: Destatis, Sebastian Becker, Becker, Carsten Brzeski Organizations: European Union, Deutsche Bank Research, CNBC, European Central Bank, ING, ECB Locations: Berlin, Germany, European, Westphalia, Europe, France, Spain

The yield on the 10-year Treasury added more than 3 basis points to 3.787%. The 2-year Treasury yield was last at 3.637% after rising more than 7 basis points. U.S. Treasury yields advanced Monday as investors considered the state of the economy after the latest data release and commentary from Federal Reserve chair Jerome Powell. Investors were assessing the state of the economy, including the path ahead for inflation and what this could mean for interest rates after the release of key data. The 12-month inflation rate came in at 2.2%, down from 2.5% in July and the lowest since February 2021.

Persons: Jerome Powell, Powell, Dow Jones Organizations: Treasury, U.S, Federal, National Association for Business Economics, Investors, PCE, Fed, PMI

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ Treasury yields dip ahead of key inflation data
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: 1 min

U.S. Treasury yields were lower on Friday, with investors looking to the release of key inflation data as they weighed the state of the economy. ET, the yield on the 10-year Treasury was down by over one basis point to 3.7714%. The 2-year Treasury yield was last at 3.6021% after falling by more than two basis points. Yields and prices have an inverted relationship. One basis point equals 0.01%.

Organizations: Treasury

☆ Commerzbank and UniCredit set to meet as takeover prospect looms
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty ImagesCommerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. Speaking at a financial conference, Orlopp said the German bank was open minded, but that the speed of synergies and risks needed to be considered. The potential for a takeover or merger has been met with opposition from Germany's government and several senior figures at Commerzbank. Orlopp herself earlier this month told journalists that the process had taken Commerzbank by surprise, but urged a calm approach.

Persons: Krisztian Bocsi, Bettina Orlopp, Orlopp, Commerzbank, Manfred Knof, Germany's, Jens Weidmann, Stefan Wittmann Organizations: AG, Bloomberg, Getty, Reuters, CNBC Locations: Frankfurt, Germany, Commerzbank

☆ Treasury yields hold steady as investors look to economic data, Fed speaker comments
▼ + stars: | 2024-09-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by less than one basis point to 3.7791%. The 2-year Treasury yield was last at 3.5653% after rising by over one basis point. U.S. Treasury yields were little changed on Thursday as investors looked to fresh economic data and remarks from Federal Reserve officials. Economists polled by Dow Jones are expecting weekly initial jobless claims to come in at 223,000 for the most recent period. Elsewhere, the Swiss National Bank on Thursday cut its key interest rate by a quarter point, marking the third reduction this year.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, Swiss National Bank Locations: U.S

☆ Treasury yields inch higher as investors consider the state of the economy
▼ + stars: | 2024-09-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.533% after rising by just over one basis point. U.S. Treasury yields were slightly higher on Wednesday as investors weighed economic data and considered the state of the economy. Economic data points will therefore be watched closely in the coming days and weeks as concerns about a potential slowdown of the economy linger. Later this week, investors will also hear from various Fed officials including Chairman Jerome Powell. At the end of the week, key economic data in form of the latest personal consumption expenditures price index is also set to be published.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, PCE Locations: U.S

☆ Bettina Orlopp: The woman tasked with leading Commerzbank amid UniCredit takeover battle
▼ + stars: | 2024-09-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020. Commerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit. The bank has been on the defensive as UniCredit looks to become its largest shareholder, signaling the potential for a full takeover. Earlier this month, the Milan-based bank started building its shareholding with a 9% stake in Commerzbank. Senior officials at Commerzbank and the German government, which was the company's largest shareholder until UniCredit stepped in, have both said they oppose a hostile takeover.

Persons: Bettina Orlopp, Commerzbank, UniCredit, Orlopp, Manfred Knof Organizations: Commerzbank AG Locations: Frankfurt, Germany, Milan, Commerzbank

☆ Treasury yields rise as investors digest Fed’s jumbo rate cut
▼ + stars: | 2024-09-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last less than one basis point higher to 3.6127%. U.S. Treasury yields were higher on Thursday as investors digested the Federal Reserve's decision to cut interest rates by 50 basis points on Wednesday. The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75%-5%. The size of the cut was in line with market expectations, which had shifted from expecting a 25 basis point cut to a bigger 50 basis point one in recent days. Elsewhere, the Bank of England is set to announce its latest interest rate decision.

Organizations: Treasury, U.S, Federal Reserve, Bank of England Locations: U.S

☆ European markets set for lower open as investors weigh UK inflation data
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Italy's FTSE MIB meanwhile was set to fall by around 39 points to 33,784. LONDON — European markets were headed for a lower open on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision. In Europe, U.K. inflation figures for August were published Wednesday, coming in at 2.2% according to data from the Office for National Statistics. The data comes ahead of the Bank of England meeting and interest rate policy decision scheduled for later this week. The Fed is all but guaranteed to announce an interest rate cut on Wednesday, which would be its first since it started hiking rates in March 2022.

Persons: Germany's DAX Organizations: CAC, LONDON, U.S . Federal, Office, National Statistics, Bank of England, Bank of Japan, U.S . Federal Reserve, Traders Locations: Europe, Asia, Pacific

☆ Treasury yields inch higher as investors look to Fed rate decision
▼ + stars: | 2024-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 3.6046% after adding over one basis point. U.S. Treasury yields were little changed on Wednesday as all eyes were on the Federal Reserve's interest rate decision expected for later in the day. The focus on Wednesday will be on the Federal Reserve's latest interest rate decision and guidance for the monetary policy outlook. While a interest rate cut is all but guaranteed, traders are divided about the size of the rate reduction. Investors are also hoping for hints about what Fed interest rate policy could look like for the remainder of the year and if more cuts are on the horizon.

Persons: Jerome Powell, Dow Jones Organizations: Treasury, Federal, Investors

☆ Treasury yields little changed as Fed meeting set to kick off
▼ + stars: | 2024-09-17 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was down by less than one basis point to 3.6194%. The 2-year Treasury yield was last less than one basis point lower to 3.5506%. U.S. Treasury yields held steady on Tuesday as the Federal Reserve's monetary policy meeting is scheduled to begin, with policymakers widely expected to announce an interest rate cut at its conclusion. All eyes are on the Federal Reserve this week, with an interest rate cut from the central bank all but guaranteed. The key question across markets remains how big the rate cut from the Fed will be on Wednesday.

Persons: Dow Jones Organizations: U.S, Treasury, Federal, Federal Reserve, Fed, Traders, Bank of England, Bank of Locations: Bank of Japan

☆ Pictures show floods ravaging Central and Eastern Europe as death toll rises
▼ + stars: | 2024-09-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Floods brought on by days of heavy rainfalls have been ravaging countries including Poland, Romania, the Czech Republic and Austria, with thousands of people being evacuated as the death toll rises. Austrian Chancellor Karl Nehammer on Monday said in a post on social media platform X, that was translated by CNBC, that two more people had died following floods in the country. Over the weekend, Reuters also reported several deaths in Poland and Romania, while Czech media agency CTK reported one death and several missing people. Elsewhere, Polish Prime Minister Donald Tusk on Sunday announced that he had declared a "state of natural disaster" in response to the flooding, according to a translated social media post. Pictures show the floods and their aftermath across Europe.

Persons: Karl Nehammer, CTK, Petr Fiala, Fiala, Donald Tusk Organizations: CNBC, Reuters, Sunday Locations: Poland, Romania, Czech Republic, Austria, Austrian, Czech, Polish, Europe

☆ U.S. Treasury yields dip as investor focus shifts to Fed meeting
▼ + stars: | 2024-09-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was less than one basis point lower at 3.6401%. U.S. Treasury yields were slightly lower on Monday as investors looked ahead to this week's Federal Reserve meeting and interest rate decision. The Federal Reserve meeting and interest rate decision are top of mind for investors this week, with the central bank's meeting kicking off Tuesday and concluding Wednesday. Markets are anticipating a rate cut from the Fed, the first since it began hiking rates in March 2022, but uncertainty about how big the reduction will be has been widespread. The central bank is also set to publish its latest economic projections on Wednesday.

Persons: Jerome Powell Organizations: Treasury, U.S, Reserve, Federal Reserve, Fed, Bank of England

☆ 2-year Treasury yield slides as investors assess interest rate outlook
▼ + stars: | 2024-09-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over four basis points to 3.6364%. The 2-year Treasury yield was last more than six basis points lower to 3.5824%. Attention began to turn to the Federal Reserve meeting next week at which the central bank is widely expected to cut interest rates. Traders were last pricing in a 59% chance of a 12-basis-point rate cut and a 41% probability of a 50-basis-point reduction, according to CME Group's FedWatch tool. The Fed's meeting is set to begin Tuesday before concluding Wednesday, with the interest rate decision and a post-meeting press conference.

Persons: Dow Jones Organizations: Treasury, U.S, Federal Reserve, Traders, PPI, Dow

The European Central Bank on Thursday delivered a quarter-point interest rate cut, marking its second reduction to the deposit rate this year. The widely anticipated move comes after a period of sluggish economic growth across the euro zone and cooling inflation, which fell back toward the central bank's 2% target in August. The ECB lowered its 2024 growth forecast to 0.8%, down slightly from an earlier projection of 0.9%, citing "weaker contribution from domestic demand over the next few quarters." For many market participants, the big question was not whether the ECB would cut rates in September — but whether the central bank will provide any clues as to what will follow. The ECB's meeting comes just days before the Federal Reserve appears poised to start its own rate-cutting cycle.

Organizations: European Central Bank, ECB, Federal

German automotive giant Volkswagen on Tuesday said it was scrapping six labor agreements as the company's standoff with unions and its works council intensified. "The company sees itself forced to do so because of the current economic challenges," Volkswagen said in a statement translated by CNBC. That applies to the company as well as the wage agreement levels," Volkswagen human resources chief Gunnar Kilian said in the statement. In a statement released Tuesday, VW Works Council head Daniela Cavallo reiterated that there would be pushback to Volkswagen's plans. We will not accept this silently and without action," he said in a statement translated by CNBC.

Persons: Gunnar Kilian, Daniela Cavallo, Thorsten Gröger Organizations: Volkswagen, VW, CNBC, VW Works, IG Metall Locations: Zwickau, Germany

☆ British fintech Revolut valued at $45 billion in secondary share sale
▼ + stars: | 2024-08-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

British fintech startup Revolut on Friday said it was valued at $45 billion in a secondary share sale with existing and new investors. The $45 billion transaction sharply increases the company's valuation from the $33 billion notched in July 2021. The valuation comes just weeks after Revolut was granted a banking license with restrictions in the U.K., ending a three-year wait after first applying for the license in 2021. The license allows Revolut to take customer deposits and issue products such as loans and credit cards. The company is now set to build up banking infrastructure in the U.K. before the official launch.

Persons: Revolut, We're, Nik Storonsky Organizations: Coatue, D1 Capital Partners, Tiger Global, U.K, Prudential, Authority Locations: Krakow, Poland, British

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