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☆ Stocks fall, bond yields rise as focus shifts to Fed, rate outlook
▼ + stars: | 2022-10-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

The Fed, which begins its two-day meeting Tuesday, is expected to deliver a fourth straight 75-basis-point rate hike on Wednesday in its attempt to tame inflation. The pan-European STOXX 600 index (.STOXX) rose 0.35% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.44%. read moreKey food and energy prices drop after initial panicGRAINS REPORTIn currencies, the dollar rose 0.8% against the struggling yen to 148.62 yen . Brazil's currency and main stock index rallied Monday, a day after leftist Luiz Inacio Lula da Silva won the country's presidential election. The Bovespa stock index (.BVSP) sank 2% at the opening and ended the session up 1.3%.

[1/2] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. Defeated President Jair Bolsonaro had not made public remarks more than 17 hours after the race was called. Some of his key allies have recognized publicly that Lula had won the race, easing concerns of contested election results. "There will be no transition problem, even if Bolsonaro reacts badly, most of his allies have already recognized Lula's victory". Francisco Levy, chief strategist at Empiricus Investimentos, said a favorable international reaction to Lula may help markets on the short term.

☆ Take Five: It's rate hike central
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +5 min

LONDON, Oct 28 (Reuters) - It's rate hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Graphics by Vincent Flasseur and Sumanta Sen.1/ FOUR IN A ROWA fourth straight jumbo 75-basis point (bps) interest rate hike is widely expected when the Federal Reserve meets on Nov 1-2. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. Inflation in the bloc hit 10.7%, accelerating from 9.9% last month and dashing hopes that peak inflation could be near. The European Central Bank just delivered its second 75 bps rate increase to control price pressures.

☆ Liverpool: After another Premier League defeat, what has gone wrong at Liverpool?
▼ + stars: | 2022-10-30 | by ( Aimee Lewis | ) edition.cnn.com time to read: +7 min

The team had won the League Cup and the FA Cup, was going toe-to-toe with Manchester City in the English Premier League, and had reached the Champions League final. Ultimately, two trophies went to Anfield instead of four, as Liverpool lost to Real Madrid in the Champions League and fell one point short in the league. For years, Liverpool has been the only team to challenge City for the league title – winning it in 2020 – yet this season Liverpool and City are worlds apart. ‘Liverpool being bullied’So, why is Liverpool struggling so badly in the league this season? “The Premier League is a really hard league to play in and is a long, difficult, sometimes physically and mentally, nine months for you.

☆ Egypt's pound sinks further against dollar after flexibility pledge
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

CAIRO, Oct 30 (Reuters) - Egypt's pound fell about 4% to 24 against the dollar as trading resumed on Sunday, Refinitiv data showed, after authorities committed to a flexible exchange rate under an International Monetary Fund support deal. The pound slid about 14.5% to 23 against the dollar on Thursday after they pledged a "durably flexible" exchange rate in conjunction with a staff-level agreement for a $3 billion IMF extended fund facility. Egypt's currency has been held steady or allowed to depreciate only gradually following previous sharp devaluations in 2016 and this March. It has weakened about 34.5% against the dollar so far this year. It introduced a mandatory requirement for importers to use letters of credit, leading to a sharp slowdown in imports and bottlenecks at ports.

☆ Polls close in Brazil’s polarizing Bolsonaro-Lula contest
▼ + stars: | 2022-10-30 | by ( ) www.cnbc.com time to read: +9 min

The runoff shaped up as a close contest between President Jair Bolsonaro and his political nemesis, former President Luiz Inácio Lula da Silva. There were multiple reports of what critics said appeared attempts to suppress the turnout of likely da Silva voters. Most opinion polls gave a lead to da Silva, universally known as Lula, though political analysts agreed the race grew increasingly tight in recent weeks. But while da Silva topped the Oct. 2 first-round elections with 48% of the vote, Bolsonaro was a strong second at 43%, showing opinion polls significantly underestimated his popularity. "If da Silva wins, we're going to have a problem," said Pedro Correia, 40, who joined his wife and two children in Copacabana.

☆ De Bruyne puts Manchester City top, Liverpool suffer shock defeat
▼ + stars: | 2022-10-29 | by ( Martyn Herman | ) www.reuters.com time to read: +5 min

Liverpool's second successive defeat against a team in the bottom three, following last week's reverse at Nottingham Forest, left them in ninth place, eight points off the top four. Chelsea also lost ground as Graham Potter's return to Brighton & Hove Albion ended in a 4-1 hammering. Manchester City have 29 points from 12 games, one point more than Arsenal who host bottom club Nottingham Forest on Sunday. Spurs moved to 26 points from 13 games with Newcastle, who have lost only once all season, on 24. Fulham could have moved level on points with Chelsea but were held to a 0-0 draw at home to Everton.

☆ Asian shares slip, yen steady ahead of Bank of Japan meeting
▼ + stars: | 2022-10-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, Oct 28 (Reuters) - Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.32%, set to snap a three-day winning streak. On Thursday, the European Central Bank raised interest rates again, but said "substantial" progress had already been made in its bid to fight off a surge in inflation. The central bank is set to keep ultra-low interest rates and remind markets it will remain a dovish outlier among a wave of central banks tightening monetary policy. Inflation in the Tokyo area thus exceeded the central bank's 2% target for five straight months.

☆ Take Five: It's rate-hike central
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +4 min

LONDON, Oct 28 (Reuters) - It's rate-hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. A consequential week for markets also includes Friday's October U.S. payrolls report, with economists polled by Reuters forecasting the economy created 200,000 new jobs. Inflation in the bloc is running at almost 10% and the European Central Bank just delivered its second 75 bps rate increase to control price pressures. Like other big central banks, the ECB is hoping for signs that peak inflation is coming.

☆ Brazil's rural boomtowns ensure Bolsonarismo's future
▼ + stars: | 2022-10-28 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +7 min

REUTERS/Gabriel StargardterCATANDUVA, Brazil, Oct 28 (Reuters) - The small city of Catanduva in the rural farm belt of Sao Paulo state has been ahead of the political curve in Brazil. The residents of Catanduva, who have benefited from robust Chinese demand for Brazilian commodities, are now fully behind Bolsonaro. Since Sahao stepped down in 2005, the PT has spent nearly two decades locked out of power at Catanduva's city hall. Across Sao Paulo, countless PSDB mayors and state lawmakers have, like Father Oliveira of Catanduva, thrown in their lot with Bolsonaro. Bassitt, the farmer, said the conservative values of rural, small-town Brazil were now the driving force in national politics.

BUENOS AIRES/LONDON, Oct 28 (Reuters) - Argentina reached a deal to restructure some $1.97 billion it owes the Paris Club, Argentina's government and the creditor group said on Friday, which will push repayments back as far as 2028 and bring relief of some $248 million to the country. "Today, Argentina successfully completed an agreement with the Paris Club to normalize relations between our country, our companies, and our workers with the countries of the European bloc," Argentine Economy Minister Sergio Massa said. The deal would see the current 9% interest rate on the debt cut to a weighted average of 4.5%, according to a document shared with Reuters by officials. read moreThe Paris Club, whose members include the United States, Japan and Germany, last year gave Argentina more time to repay the debt while it carried out an ultimately successful negotiation with the IMF over a new $44 billion program. The Paris Club said in a statement the two sides had revamped the debt deal to clear remaining payments over a six-year period between December 2022 and September 2028.

Financial markets have largely priced in a Lula victory, but the uncertainty about a contested result has some on edge. "There is apprehension about whether the election result will be respected," said J.P. Morgan equity strategist Emy Shayo. The TSE rejected the complaint in a Wednesday ruling due to lack of evidence and asked Brazil's top prosecutor to investigate the Bolsonaro campaign for possible intent to disrupt the election. Another son, Congressman Eduardo Bolsonaro, told journalists that to address the issue properly might require postponing the election. Senior Bolsonaro campaign officials have said publicly that a postponement of the election is not up for discussion.

☆ Dollar slips as bets mount for less hawkish Fed, euro above parity
▼ + stars: | 2022-10-27 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The euro peaked at $1.00935 and sterling at $1.1645 in early Asia trade, both their highest since Sept. 13. "Our sense is that fundamentally, there are factors that are still favouring the U.S. dollar: rate differentials, the fact that the Fed still has more work to do," said Rodrigo Catril, senior currency strategist at National Australia Bank. The Canadian dollar last traded at 1.3549 per U.S. dollar. Against a basket of currencies, the U.S. dollar index was up 0.06% at 109.63, following a 1.1% fall overnight. The kiwi rose to $0.58505, its highest in more than a month, and was last up 0.19% at $0.5842.

☆ China equity selloff not on fundamentals, creates opportunity - JPM
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

A men wearing a mask walk at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 3, 2020. REUTERS/Aly SongOct 24 (Reuters) - Monday's selloff in Chinese equities does not correspond with fundamentals and creates an opportunity for investors, analysts at JPMorgan said on Monday. "We believe this is a good opportunity to add given an expected growth recovery, gradual COVID reopening, and monetary and fiscal stimulus," wrote the bank's analysts in a strategy note, adding that growth data in China was a positive surprise over the weekend. Hong Kong stocks (.HSI) fell 6.4% on Monday while a Shanghai index (.SSEC) dropped 2% after Xi Jinping's newly unveiled leadership team heightened fears that economic growth will be sacrificed for ideology-driven policies. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rodrigo CamposOur Standards: The Thomson Reuters Trust Principles.

☆ Leeds' problems deepen with home defeat by Fulham
▼ + stars: | 2022-10-23 | by ( Richard Martin | ) www.reuters.com time to read: +1 min

LEEDS, Oct 23 (Reuters) - Leeds United sank to a 3-2 defeat at home to Fulham in the Premier League on Sunday, leaving them in the relegation zone and heaping more pressure on coach Jesse Marsch. Leeds, who are without a league win since August, are 18th in the standings on nine points after a fourth consecutive defeat. Fulham also wasted two clear efforts but took the lead in the 74th minute when full-back Bobby Decordova-Reid headed in another cross from Pereira. The goal led to Leeds fans quickly turning on American coach Marsch, some chanting "You're getting sacked in the morning". Register now for FREE unlimited access to Reuters.com RegisterReporting by Richard Martin, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian politician resists arrest, fires at police
▼ + stars: | 2022-10-23 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +2 min

RIO DE JANEIRO, Oct 23 (Reuters) - Brazilian politician Roberto Jefferson fired at police while resisting arrest ordered by the country's Supreme Court on Sunday for offending a justice, federal police said in a statement. Federal police said two officers were injured by shrapnel of a grenade thrown by the former congressman. Both went to the hospital and were later released, the statement said. Two opposition senators, Randolfe Rodrigues and Eliziane Gama had asked the Supreme Court to punish Jefferson for offending Lucia. Bolsonaro, who tried to distance himself from Jefferson, tweeted that he "condemns the statements against minister Carmem Lucia and armed resistance against the federal police".

☆ Here’s how venture capital is helping to lift the next generation of Latinos in finance
▼ + stars: | 2022-10-21 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

A group of Latino-led and focused venture capital firms is looking to change that. Similarly, only 2% of venture capital professionals and partner-level professionals at institutional firms are Latino, a study from LatinxVC discovered. "We're trying to increase [Latino] venture capitalists within established venture organizations," said Mariela Salas, the executive director of LatinxVC. Latino-focused venture capitalThere are several Latino-focused venture capital firms that are working on at least one piece of the puzzle: investing in their communities. "We give the opportunity to first-time accredited investors, people of color and women to get access to venture capital," Mendoza said.

☆ Analysis: Mexico's non-bank lenders may now need bank licenses to survive
▼ + stars: | 2022-10-17 | by ( Isabel Woodford | ) www.reuters.com time to read: +4 min

During the pandemic, the non-bank institutions grew to represent 20% of Mexico's private credit market. Also known as "shadow banks," they offer everything from unsecured credit to payroll lending to Mexico's 4-to-5 million small and medium-sized businesses. Now banks are less willing to finance non-bank lenders. "Non-bank lenders will always play a role. Some nonbank lenders hope to stick with the existing business model, which emerged to tackle the country's reported $160 billion funding gap.

☆ Asian shares track Wall Street higher as jitters abound
▼ + stars: | 2022-10-14 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.6% in early Asia trade. Offshore, risk appetite is already softening, with U.S. S&P 500 futures sliding 0.1% while the Nasdaq futures falling 0.2%. Wall Street had a volatile session, after initial sell-off on the data proved short-lived with technical support and short-position covering helping stocks stage a strong rebound. Futures have also suggested that rates would now peak at 5%, bringing them to levels not seen since 2007. read moreOil prices fell in early Asian trade.

☆ U.S. grants Philippines $100 million in foreign military financing
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

ABOARD USS RONALD REAGAN, Oct 14 (Reuters) - The United States has made available $100 million in foreign military financing to the Philippines, its ambassador in Manila said on Friday, part of efforts to boost the Southeast Asian country's defence capabilities and military modernisation. The new military financing underscores improved defence ties between the treaty allies under President Ferdinand Marcos Jr, whose predecessor, Rodrigo Duterte, shifted his country's foreign policy away from the United States to pursue warmer ties with China. "The United States has now made available $100 million in foreign military financing in part for the Philippine military to use as it wishes," Ambassador MaryKay Carlson told a media briefing aboard the USS Ronald Reagan, which was on a scheduled port call in Manila. Manila is looking to buy heavy-lift Chinook helicopters from the United States. The amount includes $475.3 million worth of foreign military financing to Philippines, among the biggest in Southeast Asia.

☆ Dollar holds firm, yen hovers around 32-year low
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +2 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The dollar index was little changed after falling 0.5% in the previous session as investors digested data that showed U.S. consumer prices increased more than expected in September. "I doubt the weaker dollar will sustain … the dollar is the safe-haven currency currently," Kong said. The dollar was trading at 147.43 to the yen , not far off from the 32-year peak of 147.665 it hit in the previous session. The Australian dollar was up 0.22% versus the greenback at $0.631, coming off two and half year low it touched in the previous session.

☆ Europe is still quietly importing Russian nuclear energy
▼ + stars: | 2022-10-14 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

On presenting its latest sanctions package, the European Commission did not propose targeting the trade of Russian nuclear fuel. Hungary and Bulgaria were the most vocal in opposing sanctions on Russian uranium and other nuclear tech last week, according to Rodrigo. "Russian nuclear terror requires a stronger response from the international community - sanctions on the Russian nuclear industry and nuclear fuel," Zelenskyy said via Twitter at the time. Mikhail Metzel | Afp | Getty ImagesThere are 18 Russian nuclear reactors in Europe, in countries including Finland, Slovakia, Hungary, Bulgaria and the Czech Republic. How 'green' is nuclear energy?

☆ Volatile sterling surges on reports of potential UK fiscal plan U-turn
▼ + stars: | 2022-10-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

However, the central bank later officially reiterated that its programme of temporary gilt purchases will end on Oct. 14. UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the BoE's Friday deadline. The yen "has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank. Investors were focusing on U.S. core inflation data due later, which is projected at 6.5% year-on-year in September. Minutes from the Federal Reserve's policy meeting last month showed that officials agreed they needed to raise interest rates to a more restrictive level - and then keep them there for some time - to meet their goal of lowering "broad-based and unacceptably high" inflation.

☆ Sterling volatile ahead of BoE deadline, fragile yen tests 1998 low
▼ + stars: | 2022-10-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

LONDON, Oct 13 (Reuters) - Sterling rose on Thursday in volatile trade as investors awaited the impending deadline for the Bank of England to end an emergency bond-buying programme. Sterling was up 0.44% at $1.1147 at 1054 GMT in a volatile week. "We can expect potential market take-up to continue to increase as market participants prepare for the BoE to exit the market. Sterling volatilityElsewhere, the yen struggled against the U.S. dollar trading 0.1% lower at 146.8. Investors were focusing on U.S. core inflation data due later today, which is projected to rise 6.5% year-on-year in September.

A fragile yen languished near a fresh 24-year low, while markets were also on edge ahead of U.S. inflation data due later in the day for possible clues on how much higher the Federal Reserve will push interest rates. On Thursday, BoE saidUK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the BoE's Friday deadline. "We can expect potential market take-up to continue to increase as market participants prepare for the BoE to exit the market. Another currency struggling against the U.S. dollar was the yen , which traded 0.1% lower at 146.8. The yen "has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank.

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