DIRS.INFO The most relevant business & tech news

☆ Take Five: You (may) have arrived at your destination
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +5 min

No wonder markets see a 70% chance that the Fed's brutal 20-month tightening cycle is over and that rate cuts could begin as soon as June. So watch closely to see if the top central bankers push back against the cut chatter until inflation is truly tamed. Shekel, gold, oil response to the war5/RACE DAY RATE HIKEThe famous Melbourne Cup horse race runs on Tuesday, but some of the shortest odds are on an Aussie central bank rate hike over in Sydney that day. Three-year and 10-year Australian government bond yields have hit their highest since 2011, though backed off slightly on the Fed's hold. The Australian dollar has also rallied strongly against its New Zealand counterpart as rate expectations diverge.

Persons: Marc Jones, Dhara, Kevin Buckland, Tom Westbrook, Lewis Krauskopf, BoE, Horton, Walt Disney, Mittal, shekel, Antony Blinken, Jordan, Luci Ellis, Kripa Jayaram, Riddhima Talwani, Gareth Jones Organizations: Federal Reserve, Fed, ECB, FX, Bank of Japan, Reuters, eBay, Nvidia, UBS, ABN Amro, Allianz, Friday, U.S, Melbourne Cup, Westpac, New Zealand, Thomson Locations: Australia, Gaza, Here's, London, Tokyo, Singapore, New York, Britain, U.S, Europe, Commerzbank, Israel, Gaza City, Iran, Sydney

☆ Morning Bid: Yield curve control morphs
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

It will keep buying bonds, but time will tell whether and how tenaciously it will impede yields rising beyond 1%. After touching an almost 10-year low in morning trade, Japanese government bond futures rallied following the announcement. For the meantime the sense that some sort of anchor remains also spread some cheer to Treasury trade, sparking a brief rally. Falls in Hong Kong and Shanghai led MSCI's broadest index of Asia-Pacific shares outside Japan 0.9% lower (.MIAPJ0000PUS). Meanwhile, outside of markets, Hamas said its militants fired anti-tank missiles at Israel's invading forces in Gaza early on Tuesday as the conflict intensified.

Persons: Tom Westbrook, DAOU, Christopher Cushing Organizations: REUTERS, Staff, Bank of Japan, Nikkei, Treasury, Bond, Federal Reserve, U.S . Treasury Department, Samsung Electronics, Brookfield consortium, Treasury Wine Estates, Anheuser, Busch Inbev, Bouygues, BASF, BP, Pfizer, Caterpillar, Thomson Locations: Frankfurt, Germany, U.S, Europe, Asia, Falls, Hong Kong, Shanghai, Pacific, Japan, Australia, Gaza

☆ More China companies buyback shares as Beijing seeks to stabilise market
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Oct 30 (Reuters) - More than 30 Chinese listed companies unveiled share buyback and purchase plans over the weekend while major mutual fund house E Fund Management Co said it would invest in its own product as Beijing steps up efforts to put a floor under a sliding stock market. China has already announced a slew of measures, including share purchases by state fund Central Huijin, to stem declines in a stock market (.CSI300) that last week hit the lowest level since 2019. Amid government calls to revive the market, more than 20 listed companies, including Hainan Mining Co (601969.SS), Vatti Corp (002035.SZ) and Zhejiang Sanmei Chemical (603379.SS), unveiled share buyback plans or proposals late on Sunday. In addition, companies such as CRRC Corp (601766.SS) and Wuxi Lead Intelligent Equipment (300450.SZ) disclosed share purchase plans by their controlling shareholders. ($1 = 7.3145 Chinese yuan renminbi)Reporting by Samuel Shen and Tom Westbrook; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Samuel Shen, Tom Westbrook, Lincoln Organizations: E Fund Management, Central, Hainan Mining Co, Vatti Corp, Chemical, CRRC, E, CSI, Huijin, Shanghai Securities, Thomson Locations: SHANGHAI, Beijing, China, Hainan, Zhejiang, Wuxi

☆ Analysis: Yen comeback may be a longer waiting game
▼ + stars: | 2023-10-27 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

One result is an uneasy calm in spot and options markets for dollar/yen as traders give up waiting for the yen to bounce. Driven weaker by the widening gap between U.S. and Japanese interest rates, the yen has lost 13% on the dollar this year and at 150 is near the three-decade low of 151.94 that prompted government intervention a year ago. Market participants say what's changed is the expectation that Japan would be in the driver's seat for the yen this year. Yet together with the risk of intervention, it only seems to have stopped the yen from falling, rather than driving the sort of rally investors had been girding for at the outset of 2023. To be sure, Sachdev said interest in 'carry trades' - borrowing yen to sell for higher-interest paying currencies is waning, while investors have been keen for long exposure to yen assets.

Persons: Kim Kyung, Patrick Law, Masafumi Yamamoto, Yen, Shafali Sachdev, Sachdev, Tom Westbrook, Jacqueline Wong Organizations: National Printing Bureau, Bank of Japan, REUTERS, Rights, Federal, Pacific FX, Bank of America, Bank of International Settlements, Bank of, Mizuho Securities, U.S ., Swiss, Reuters, BNP, Wealth Management, Citi, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Hong Kong, U.S

☆ Morning Bid: ECB on hold, five's alive in the US
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

A view shows the European Central Bank (ECB) flag and the flag of the European Union in front of the ECB Building in Frankfurt, Germany, September 14, 2023. All 85 economists polled by Reuters last week expected the European Central Bank to stay on hold. Israel bombarded Hamas targets as it prepared for a ground invasion, with Russia warning the conflict could spread beyond the Middle East. Russia said it successfully tested its ability to deliver a massive retaliatory nuclear strike by land, sea and air. Reuters GraphicsKey developments that could influence markets on Thursday:Economics: European Central Bank meeting, U.S. GDPEarnings: Unilever, Mercedes, Standard Chartered and, after market close, AmazonReporting by Tom Westbrook.

Persons: Wolfgang Rattay, Tom Westbrook, Mike Johnson, Trump, Ted Pick, James Gorman, Morgan Stanley, Pick, Israel, Sam Holmes Organizations: European Central Bank, European Union, REUTERS, Reuters, Unilever, Mercedes, Treasury, Nasdaq, Republican, United Auto Workers, Ford, Standard Chartered, Amazon, Thomson Locations: Frankfurt, Germany, Asia, U.S, Louisiana, Ukraine, Russia, East

☆ Asian stocks bounce on China spending plans; inflation jolts Aussie
▼ + stars: | 2023-10-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% and the Hang Seng (.HSI) 2%. China's top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure. Investors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594. The annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Oil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday.

Persons: Dado Ruvic, hawkish, Bonds, Steven Leung, UOB Kay Hian, Leung, Glenn Yin, Lincoln Organizations: REUTERS, Japan's Nikkei, Treasury, Central, Central Huijin, Investors, 25bp, ANZ, Brent, AETOS Capital Group, U.S . Securities, Exchange Commission, Thomson Locations: China, SINGAPORE, Asia, Pacific, Japan, Tokyo, U.S, Hong Kong, Central, Australia, Europe, Melbourne, United States, Russia, Israel, Gaza, BlackRock

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ Bitcoin leaps to 2023 high on ETF bets
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global (COIN.O) or bitcoin owner MicroStrategy (MSTR.O) rose in after-hours trade. An exchange-traded fund (ETF) owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stockmarket. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo.

Persons: Dado Ruvic, MicroStrategy, Steen Jakobsen, Kyle Rodda, Capital.com, Javier Milei, Tom Westbrook, Rae Wee, Brigid Riley, Shri Navaratnam Organizations: REUTERS, BTC, Investment, BlacRock's, Reuters, U.S . Securities, Exchange Commission, Saxo, BlackRock, SEC, Hamas, Thomson Locations: Asia, SINGAPORE, BlackRock, U.S, Singapore, Tokyo

☆ BlackRock bitcoin ETF added to eligibility file, says clearing house DTCC
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSummaryCompanies Potential ETFs added to DTCC file as 'standard practice'-DTCCBlackRock iShares Bitcoin Trust ETF added in August-DTCCMove is not indicative of regulatory approval-DTCCBitcoin holds gains made on ETF approval speculationSINGAPORE, Oct 25 (Reuters) - BlackRock's (BLK.N) proposed bitcoin exchange-traded fund (ETF) was added to a clearing-house eligibility file in August, but the move is not indicative of any regulatory approval, clearing house DTCC said. Speculation that BlackRock or a number of other pending bitcoin ETF applicants would succeed has sent bitcoin on its biggest two-day rally for seven months. The clearing house said the list was its eligibility file, which includes active and potential ETFs and that Blackrock's iShares Bitcoin Trust ETF was added in August as "standard practice...in preparation for the launch of a new ETF". Bitcoin touched an 18-month high of $35,198 on Tuesday and was last at $33,802 in Asia trade on Wednesday.

Persons: Carlo Allegri, Bitcoin, DTCC, Rae Wee, Tom Westbrook, Muralikumar Anantharaman, Jamie Freed Organizations: REUTERS, BlackRock, Traders, U.S . Securities, Exchange Commission, SEC, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S, SINGAPORE, Asia, Singapore

☆ Bitcoin soars 10% to 2-1/2 year high
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

Bitcoin logo, representation of cryptocurrencies and rising stock graph are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsSINGAPORE, Oct 24 (Reuters) - Cyrptocurrency bitcoin leapt as much as 14% to a 2-1/2 year high of $34,283 in early Asia hours on Tuesday, on speculation that the U.S. could soon approve a bitcoin exchange-traded fund. Bitcoin was last up 10% at $33,030. Smaller rival ether was up 6% at $1,763. Reporting by Tom Westbrook; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, bitcoin, Bitcoin, Tom Westbrook, Christopher Cushing Organizations: REUTERS, Rights, Thomson Locations: Rights SINGAPORE, Asia, U.S

☆ China leaves benchmark lending rates unchanged as expected
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Oct 20 (Reuters) - China kept its benchmark lending rates unchanged at the monthly fixing on Friday, matching market expectations, as a set of economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Jason Lee, Li Gu, Tom Westbrook, Edmund Klamann, Jacqueline Wong Organizations: People's Bank of China, REUTERS, Rights, TD Securities, Barclays, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE

☆ Morning Bid: Bonds haunted by uncertainties old and new
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Tom WestbrookIt's looking like the worst week of another bad year for bonds. Curiously, the dollar hasn't moved higher with the latest leap in yields, perhaps because currency traders see recession in the offing. Fed Chair Jerome Powell said little that markets didn't already know on Thursday, but in keeping his options open he kept the pressure on bonds. "A range of uncertainties, both old and new, complicate our task of balancing the risk of tightening monetary policy too much against the risk of tightening too little," he said.

Persons: Brendan McDermid, Tom Westbrook It's, Brent Donnelly, Jerome Powell, Joe Biden, Israel, Fed's Mester, Harker, Tom Westbrook, Edmund Klamann Organizations: New York Stock Exchange, REUTERS, Spectra Markets, MSCI's, Bank of Japan, North America ., Thomson Locations: New York City, U.S, New York, MSCI's Asia, Japan, Gaza, China, London, North America

☆ China ramps up yuan internationalisation under Belt and Road Initiative
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +4 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. And funding BRI projects has helped China revitalise the once-stalled process of yuan internationalisation. Another policy bank, the Export-Import Bank of China, signed a yuan-based loan agreement with Saudi National Bank, while Bank of China helped Egypt issue Africa's first yuan-denominated Panda bonds. Beijing also allocated an additional 80 billion yuan ($10.94 billion) to its Silk Road Fund for BRI projects. "Can you do this in a targeted way with MOUs with all BRI countries?

Persons: Thomas White, Vladimir Putin, Xi, Alicia Garcia Herrero, China revitalise, Malaysia's Maybank, Haoxin Mu, Natixis, Garcia Herrero, Samuel Shen, Tom Westbrook, Simon Cameron, Moore Organizations: REUTERS, Rights, Initiative, Forum, Asia Pacific, Natixis, China International Capital Corp, China Development Bank, BBVA, Export, Import Bank of China, Saudi National Bank, Bank of, Fund, Thomson Locations: China, Rights SHANGHAI, SINGAPORE, Beijing, Russia, Asia, U.S, Ukraine, Africa, Europe, Egypt's, BBVA Peru, Bank of China, Egypt

Official data showed China's economy grew 1.3% in the third quarter, accelerating from 0.5% in the previous quarter and topping market forecasts for an increase of 1%. China's yuan hit a one-week high of 7.2905 per dollar, though it then retreated to 7.312. The China-sensitive Australian dollar , was last up 0.24% at $0.6381, while the New Zealand dollar was 0.18% higher at $0.5907. Reuters GraphicsThe euro was steady at $1.0571, while sterling was up 0.1% at $1.2194 after data showed British inflation failed to fall as expected in September. Israel's shekel was pinned to the weaker side of 4 to the dollar, around its lowest since 2015.

Persons: Dado Ruvic, Joe Biden, I'm, Erik Nelson, Wells, Nelson, we're, It's, it's, Imre Speizer, Israel's shekel, Tom Westbrook, Harry Robertson, Shri Navaratnam, Sharon Singleton Organizations: REUTERS, Rights, U.S ., Israel, Wednesday, New Zealand, Westpac, Reuters, Treasury, Bank of Japan, Thomson Locations: Rights SINGAPORE, LONDON, Gaza, China, Wells Fargo, Israel, Iran, U.S, Japan, Tokyo, Singapore, London

☆ Morning Bid: Equity bounce ebbs with eyes on Middle East
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Israeli soldiers stand near to a tank near Israel's border with Lebanon in northern Israel, October 16, 2023. U.S. and European equity futures were flat, while MSCI's broadest index of Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) rose 0.7%. British wages data, U.S. retail sales figures and corporate earnings are the calendar items in focus. In China, where gross domestic product data is due on Wednesday, Country Garden (2007.HK) was on the brink of a possible offshore default. Reuters reported China's civil servants and state-enterprise employees face tighter travel constraints, as Beijing wages a campaign against foreign influence.

Persons: Lisi Niesner, Tom Westbrook, Vladimir Putin, Joe Biden, Goldman Sachs, Johnson, Edmund Klamann Organizations: REUTERS, U.S, Israel, Investors, Tel, HK, Reuters, Bank of Australia, Bank of America, Thomson Locations: Lebanon, Israel, Tom, Tom Westbrook Asia, Asia, Pacific, Japan, Russian, Beijing, China, Iran, Tel Aviv, Australia, New Zealand

☆ More Chinese companies vow share buybacks as market sags further
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

People cross a street during morning rush hour in front of the skyline of the central business district (CBD) in Beijing, China December 15, 2020. This follows more than a hundred Chinese companies committing to buybacks or withdrawing share sales in August after China imposed new rules as part of measures to shore up a sinking stock market as the country's post-COVID-19 recovery lost momentum. Its blue-chip stock index <.CSI300>, however, is near one-year lows as investor sentiment remained weak in recent months despite stimulus policies to shore up confidence. Meanwhile, more than 70 other companies in filings vowed that their major shareholders would not sell shares in the coming months, or withdrew plans to offload shares. Reporting by Jason Xue in Shanghai and Tom Westbrook in Singapore Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Jason Xue, Tom Westbrook, Marguerita Choy Organizations: REUTERS, Rights, China Petroleum & Chemical Corp, China Railway Construction Corp, China Mobile, Wanma Technology, GoodWe Technologies, Central Huijin Investment, Thomson Locations: Beijing, China, Shanghai, Singapore

☆ Bond yields ease, stocks near flat ahead of Fed minutes
▼ + stars: | 2023-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The Fed minutes are due later Wednesday, and investors will assess them for further hints about the economic outlook and where U.S. rates are heading. The pan-European STOXX 600 index (.STOXX) rose 0.15% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.19%. Global stocks have edged higher in recent sessions with U.S. bond yields - which underpin borrowing costs around the world - easing as Fed officials have suggested interest rate hikes may be over for now. U.S. crude fell 2.68% to $83.67 per barrel and Brent was at $85.73, down 2.19% on the day.

Persons: Brendan McDermid, Edward Moya, Brent, Herbert Lash, Harry Robertson, Tom Westbrook, Sam Holmes, Alex Richardson, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Companies, Treasury, Reserve, Palestinian, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Israel, Gaza, New York, London, Singapore

REUTERS/Staff/File Photo Acquire Licensing RightsSummaryCompanies Global stocks tick up; U.S. futures riseBond yields tumble again but remain highOil prices steady after rising on Israel-Hamas warLONDON/SINGAPORE, Oct 11 (Reuters) - Global stocks edged higher on Wednesday while bond yields dropped again as investors waited for minutes from the latest Federal Reserve meeting and U.S. inflation figures. Meanwhile, oil prices were little changed as traders kept an eye on the conflict between Palestinian militants and Israel. The MSCI All World stock index (.MIWD00000PUS) was last up 0.21% on Wednesday, after rising 1% in the previous session. Futures for the S&P 500 were up 0.26% after the stock index (.SPX) climbed 0.52% on Tuesday. Global stocks, which had been on the slide since early August, have rallied for the last few sessions.

Persons: Dow Jones, I'm, Florian Ielpo, Arthur van Slooten, Raphael Bostic, Harry Robertson, Tom Westbrook, Sam Holmes, Alex Richardson Organizations: REUTERS, Staff, LONDON, Reserve, Nasdaq, Dow, Lombard, Global, Investors, Treasury, Societe Generale, Atlanta Fed, Bloomberg, Thomson Locations: Frankfurt, Germany, Israel, SINGAPORE, Palestinian, Nashville, Gaza, Brent, China, London, Singapore

☆ Asia stocks hit 2-week high as Fed talk turns dovish
▼ + stars: | 2023-10-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. The S&P 500 (.SPX) gained overnight and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.3% to a two-week high in morning trade. "I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic told the American Bankers Association, to applause, in Nashville on Tuesday. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. European gas prices, which had jumped on news of the Middle East violence, surged further on Tuesday on concern a gas pipe in Finland was sabotaged.

Persons: Tyrone Siu, Raphael Bostic, Peter Dragicevich, Brent, Vivek Dhar, Sam Rines, Sam Holmes Organizations: REUTERS, Federal Reserve, paring, Japan's Nikkei, Atlanta Fed, American Bankers Association, Treasury, New Zealand, U.S, CPI, Fed, Bloomberg, HK, Benchmark, Samsung, Pepsi, Thomson Locations: Exchange, Hong Kong, China, SINGAPORE, paring U.S, Asia, Pacific, Japan, Nashville, Tuesday's, Israel, Finland, Estonia, Europe, Texas

☆ Morning Bid: Fed's dovish shift welcomed; inflation's next
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Futures pricing suggests traders now see about a 30% chance of another rate hike this year, down from about 45% a week ago. Ahead on Wednesday, the European Central Bank's inflation survey and U.S. producer price data will lead in to U.S. inflation data on Thursday. The S&P 500's retreat on Tuesday from the day's high, closing only 0.5% firmer, also suggests nervousness. Later in the week U.S. corporate earnings season hits full swing, with bank profits set to rise. Overnight markets welcomed Pepsi (PEP.O) promising to keep on lifting prices, which is a good sign for demand but perhaps a warning sign for inflation.

Persons: Jonathan Ernst, Westbrook Stocks, Raphael Bostic, Fed's Bowman, Waller, Collins, Tom Westbrook, Edmund Klamann Organizations: . Federal, REUTERS, Bankers, Atlanta Fed, Pepsi, Exxon Mobil, U.S, Natural Resources, Reuters, Bank, PPI, Thomson Locations: Washington, Nashville, Asia, Finland, Estonia, Marrakech, Morocco, Bostic

Bostic was partly responding to the outburst of violence in Israel and Gaza, said Joseph Trevisani, senior analyst at FXStreet in New York. "You can pretty much count on the Fed taking that into its world view and that's only going to be lower rates." U.S. Treasuries rallied, pushing two-year yields to their lowest in a month, as safe-haven demand was driven by the ongoing Mideast bloodshed and dovish Fed comments. The yield on the 10-year U.S. Treasury , which moves inversely to the price, was down 12.5 basis points at 4.6571%. The Swiss franc , a traditional safe-haven currency, was at 0.9045 to the dollar, which weakened about 0.21%.

Persons: Dado Ruvic, Raphael Bostic, Bostic, Joseph Trevisani, Treasuries, Shaun Osborne, Israel's shekel, They're, Chris Turner, Herbert Lash, Harry Robertson, Tom Westbrook, Simon Cameron, Moore, Susan Fenton, Sharon Singleton, Jonathan Oatis, Mark Heinrich, Richard Chang Organizations: REUTERS, Federal Reserve, Atlanta Fed, Fed, American Bankers Association, U.S, Scotiabank, Traders, Bloomberg, Analysts, Columbus, Kyodo, Bank of Japan, . Treasury, ING, Swiss, Thomson Locations: China, U.S, Israel, Gaza, New York, Toronto, Palestinian, London, Singapore

Moves were relatively muted as traders waited for more Fed officials to speak later in the day, as well as minutes from the last Fed meeting to be released on Wednesday and U.S. inflation data on Thursday. The euro was last up 0.12% against the dollar at $1.0581. The dollar index , which tracks the greenback against six peers, was last up less than 0.1% at 106.05. The Swiss franc , a traditional safe-haven currency, was last flat, with the dollar trading at 0.9068 francs. Fed officials Raphael Bostic, Christopher Waller, Neel Kashkari and Mary Daly are due to speak later on Tuesday.

Persons: Dado Ruvic, Simon Harvey, Israel's shekel, They're, Chris Turner, Israel, Raphael Bostic, Christopher Waller, Neel Kashkari, Mary Daly, Harry Robertson, Tom Westbrook, Sam Holmes, Simon Cameron, Moore, Susan Fenton, Sharon Singleton Organizations: REUTERS, Hamas, Bloomberg, Columbus, Treasury, Kyodo, Bank of Japan, . Treasury, ING, Swiss, Thomson Locations: SINGAPORE, China, Israel, Palestinian, Gaza, London, Singapore

☆ 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

☆ China funds look to Mideast cash as US investments wane
▼ + stars: | 2023-10-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Seven China equity funds, including hedge funds and mutual funds, running more than $500 billion in combined assets, told Reuters they visited the Middle East this year to raise money, three of them for the first time. The search for new capital could affect Asia's hedge fund scene, where China firms account for more than half the market. "In the past perhaps the holy grail of capital raising was the U.S.," said Effie Vasilopoulos, co-Leader of law firm Sidley Austin's Asia-Pacific investment funds group. So that dynamic is leading many of our clients to the Middle East." However, sovereign funds in the Middle East have been large buyers.

Persons: Aly, Effie Vasilopoulos, Sidley, Steven Luk, Erin Wu, Wong Kok Hoi, Wong, Summer Zhen, Tom Westbrook, Jacqueline Wong Organizations: REUTERS, Seven, Reuters, FountainCap Research & Investment, OP Investment Management, POLITICO, Big U.S, ' Pension, California State Teachers, APS, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, Seven China, U.S, Asia, Pacific, Europe, Australia, Hong Kong, Texas, Singapore, Middle Eastern

☆ Investors hope U.S. job numbers give Fed less reason to hike
▼ + stars: | 2023-10-06 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

Although the MSCI All-Country stock index (.MIWD00000PUS) was 0.2% higher, it has lost about 8% since its July peak, leaving it about 7% ahead for the year. We are talking about the duration, rather than higher rates," Spencer said. The dollar index is up 12 weeks in a row, equalling a streak that ran from July to October 2014. The dollar index was steady on Friday at 106.38. Gold was also steady at $1,821 an ounce after nine days of losses driven by rising global bond yields.

Persons: Brendan McDermid, Nonfarm, Patrick Spencer, RW Baird, Spencer, YEN, Kyle Rodda, Huw Jones, Tom Westbrook, Shri Navaratnam, Clarence Fernandez, Chizu Organizations: New York Stock Exchange, REUTERS, Federal, Treasury, Global, Analysts, Tokyo's Nikkei, London, Thomson Locations: New York City, U.S, Europe, Asia, Pacific, Japan

Search resuls for: "Tom Westbrook"

25 mentions found