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Benchmark 10-year yields reached 4.312%, testing October's 4.338%, a break past which would be its highest since 2007. "What's interesting is usually when you have volatility around rates that's the market trying to price in a higher fed funds rate. "The impact of higher yields is standard: a dollar that is well supported and equities under pressure," he added. MSCI's world index (.MIWD00000PUS) was down 0.1% on Thursday, having dropped to its lowest level since July 6 early in the session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slid to its lowest since late November in early trading Thursday.

Persons: Brendan McDermid, Samy Chaar, der Linde, Van der Linde, Shunichi Suzuki, Brent, Ankur Banerjee, Alun John, Anisha, Sonali Paul, Angus MacSwan Organizations: New York Stock Exchange, REUTERS, Lombard, Atlanta Federal, Nasdaq, Zhongzhi Enterprise Group, HSBC, Reuters Global Markets, Finance, Thomson Locations: New York City, U.S, SINGAPORE, CHINA, China's, Asia, Pacific, Japan, Hong Kong, China, Singapore, London, Bengaluru

The Adyen share plunge "was because expectations were much higher. Analysts believed that Adyen would take significantly more share in this difficult market environment," said Jefferies equity analyst Hannes Leitner. Was the share price reaction justified? One European equities trader, who asked not to be named, noted there were orders to sell Adyen shares at any price and referred to "apocalypse selling." According to data from Refinitiv, 17 analysts rated Adyen "buy", 12 "hold", and 4 "sell" before the earnings announcement.

Persons: Eva Plevier, Jefferies, Hannes Leitner, Refinitiv, Adyen, Worldline, Italy's, Marco Simion, Pieter van der, ”, Samuel Indyk, Elizabeth Howcroft, Danilo Masoni, Toby Sterling, Dhara, Alun John, Cynthia Osterman Organizations: REUTERS, Analysts, Citigroup, UBS, KPMG, Privately, Thomson Locations: Amsterdam, Netherlands, MILAN, North America, Swiss, Adyen, EMEA, Refinitiv, London, Milan

☆ In England, Morris Dancing Is Loved, Mocked and Getting a Makeover
▼ + stars: | 2023-08-15 | by ( Genevieve Marks | ) www.nytimes.com time to read: +1 min

At the other end of the Morris dancing spectrum are those interested not in genre-bending but in fidelity to form, like Alun Pinder, a 28-year-old data analyst. (There are approximately 800 active national Morris teams.) By his own estimation, his team, Fool’s Gambit, a roving collective that performs most weekends across the country, belongs in that top three. The Westminster dancers are proud of their command over one of the more distinctive elements of Morris: the flicking and waving of handkerchiefs. “We have trained ourselves to lower our hankies at a certain velocity so that they are almost in tandem and vertical,” Bentham said.

Persons: Morris, Alun Pinder, “, Morris snob, ”, ” Pinder, Fool’s, Charlotte Dover, Westminster Morris, Elizabeth II’s, “ Morris, James Jack Bentham, ” Bentham Organizations: Morris teams Locations: Westminster

☆ Dollar gains, crosses key 145 yen level
▼ + stars: | 2023-08-11 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. In the 12 months through July, the PPI rose 0.8% after a 0.2% gain the prior month. Prior to the inflation data, that chance was already above 85%. The stronger dollar led the yen to briefly touch 145.03 in late afternoon trade, its highest since June 30. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Finance Ministry to buy the yen and push the pair back to around 140 yen.

Persons: Florence Lo, Thierry Wizman, Wizman, Everyone's, Marvin Loh, Loh, Moh Siong Sim, Herbert Lash, Alun John, Ankur Banerjee, Kirsten Donovan, William Maclean, Jonathan Oatis Organizations: U.S, REUTERS, Federal, PPI, Labor Department, Treasury, Singapore, Finance Ministry, Swiss, Thomson Locations: Macquarie, New York, Boston, Japan, London, Singapore

☆ Dollar set for fourth week of gains, climbs back towards 145 yen
▼ + stars: | 2023-08-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "You should expect the rhetoric once yen gets to 145," said Bank of Singapore currency strategist Moh Siong Sim. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. Prior to the inflation data, that chance was already above 85%. ,The Australian dollar rose 0.12% to $0.652.

Persons: Florence Lo, Moh Siong Sim, Francesco Pesole, Ankur Banerjee, Alun John, David Evans, Kirsten Donovan Organizations: U.S, REUTERS, Federal, Bank of Japan, Singapore, Ministry of Finance, ING, Swiss, Thomson Locations: Japan, Washington, Frankfurt, Beijing, Singapore, London

☆ Country Garden credit distress likely to spill over to China markets - Moody's
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File PhotoLONDON, Aug 11 (Reuters) - Credit distress at Chinese private developer Country Garden is likely to spill over to the country's property and financial markets, weakening sentiment and delaying the recovery of the property sector, Moody's Investors Service said on Friday. Country Garden (2007.HK) on Tuesday said it had not paid two dollar bond coupons due on Aug. 6 totalling $22.5 million. The developer's shares and bonds dropped to record lows on Friday, deepening concerns about the property sector outlook in the absence of stronger support from Beijing. Reporting by Alun John; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Alun John, Amanda Cooper Organizations: Shanghai Country Garden, REUTERS, Moody's Investors, HK, Thomson Locations: Shanghai, China, Beijing

☆ US dollar recovers from inflation-related losses; yen slumps
▼ + stars: | 2023-08-10 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

The greenback climbed to five-week peaks against the yen of 144.735 , and last traded up 0.7% at 144.71 yen. The recovery of the dollar against both the euro and yen pushed the dollar index up 0.1% to 102.56 . Earlier in the session, the dollar dropped after data showed the consumer price index (CPI) rose 0.2% last month, matching the gain in June. Investors are also on the lookout for possible intervention by the Japan to lift the yen. In September, Japan intervened when the dollar rose above 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar.

Persons: Florence Lo, Yen, Helen, It's, Francisco Federal Reserve Bank Mary Daly, Gertrude Chavez, Dreyfuss, Alun John, Mark Potter, Andrea Ricci, Richard Chang Organizations: REUTERS, Monex USA, Francisco Federal Reserve Bank, Federal, Market, Fed, Labor Department, Analysts, Ministry of Finance, Thomson Locations: U.S, Washington, Japan, London

Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. REUTERS/Florence Lo/IllustrationTOKYO/LONDON, Aug 10 (Reuters) - The dollar slipped against most currencies on Thursday ahead of U.S. inflation data that will shape the Fed's policy direction, although the prospect of higher energy costs pushed it to a one-month high against the yen. "Though you could argue it the other way given the euro zone recession risk if energy stays higher," she added. The impact of higher energy costs were also a factor in the softer yen, as resource-poor Japan is a major oil importer. A break above 145 would open the way potentially to 148 "if we get the U.S. dollar flexing again after the CPI," he said.

Persons: Florence Lo, it's, Jane Foley, We've, Foley, that's, Tony Sycamore, Kevin Buckland, Brigid Riley, Alun John, Kim Coghill, Sharon Singleton, Susan Fenton Organizations: REUTERS, U.S, CPI, Federal Reserve, Rabobank, U.S . Treasury, ECB, IG, People's Bank of China, New, Swiss, Thomson Locations: U.S, Japan, New Zealand, Tokyo, London

☆ Morning Bid: China trade data disappoints, again
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +3 min

U.S. equity markets saw their first positive day in August on Monday, but then along came Chinese trade data. Parsing the export data, David Chao, global market strategist at Invesco, says the miss was driven by lower prices rather than lower volumes, and that Chinese export volumes remain surprisingly robust. Though, he says, "looking at other export-related data such as export orders, the outlook appears weak." Even Chinese imports from Russia fell year-on-year in July, the first fall since Feb 2021. Tuesday looks quiet on the U.S. data front, but traders are bracing for the big one - Thursday's CPI data.

Persons: Alun John ., David Chao, Hong, Intesa, Banca, Banks, Moody's, Fed's Harker, Alun John, Barbara Lewis Organizations: Shipping, cnsphoto, REUTERS, Nasdaq, BPER Banca, Bank of New York Mellon, US Bancorp, Truist, Thomson, Reuters Locations: Shanghai, China, U.S, Hong Kong, Russia, Europe

☆ Italian windfall tax sends euro zone bank stocks tumbling
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON, Aug 8 (Reuters) - An index of euro zone banks (.SX7E) fell as much as 3.4% on Tuesday, after Italy approved a 40% windfall tax on banks for 2023. The index is on track for its biggest daily drop since the turmoil in the banking sector in March. BPER Banca (EMII.MI) fell to the bottom of the STOXX 600 and was last down 8.8% while Intesa Sanpaolo (ISP.MI) was last down 8%. The pan-European STOXX 600 (.STOXX) was last down 0.3%, while a broader index of European banks fell 2%.

Persons: Dado Ruvic, Intesa, Lucy Raitano, Alun John Organizations: REUTERS, BPER Banca, Thomson Locations: Italy, EMII.MI

☆ Big central banks hike again with end of tightening in sight
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +5 min

LONDON, Aug 3 (Reuters) - Major central banks are tentatively eyeing the end of aggressive interest rate hikes as price pressures finally show signs of abating. So far, nine developed economies have raised rates by a combined 3,865 basis points (bps) in this cycle. This may have marked the end of a 20-month hiking cycle, with economists polled by Reuters expecting the central bank to stay put for the rest of 2023. Canada's inflation rate fell to 2.8% in June. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, kept its interest rate target at -0.1% in July, but shook markets by making its yield curve control policy more flexible.

Persons: Jerome Powell, BoE, Riksbank, Nell Mackenzie, Alun John, Naomi Rovnick, Harry Robertson, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Tomasz Janowski, Toby Chopra Organizations: UNITED, Federal Reserve, ZEALAND, Reserve Bank of New, Reuters, BRITAIN, Bank of England, bps, Bank of Canada, BoC, European Central Bank, ECB, Reserve Bank of Australia, Norges Bank, Swiss, Bank of Japan, Thomson Locations: Japan, Reserve Bank of New Zealand, NORWAY, SWEDEN, SWITZERLAND Swiss, JAPAN

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

☆ Dollar gains after Fed loan survey, yen slips
▼ + stars: | 2023-07-31 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The dollar index , a measure of the greenback against six major currencies, rose 0.28% after trading little changed earlier in the session. The euro retreated from early gains after data showed economic growth in Europe nudged higher and inflation ticked lower. The dollar advanced 0.78% against the yen at 142.250 after a fresh intervention by the BoJ on Monday. The dollar posted its first monthly loss against the yen since March, and its second successive monthly loss against the euro and pound. The euro earlier rose after data showed euro zone inflation fell further in July, while the bloc returned to growth in the second quarter of 2023 with a greater-than-expected expansion.

Persons: Marc Chandler, Chandler, Jackson, Joe Manimbo, Sterling, BoE, Herbert Lash, Alun John, Rae Wee, Himani Sarkar, Kim Coghill, Christina Fincher, Mark Heinrich, Deepa Babington Organizations: YORK, Federal Reserve, Survey, Bannockburn Global, Index, Bank of Japan, China's State, Federal, Market, Central Bank, Rabobank, ECB, Bank of England's, Thomson Locations: Bannockburn, New York, U.S, Jackson Hole , Wyoming, Washington, Europe, Asia, China, London, Singapore

☆ BOJ tweak stirs yen volatility; dollar stays down after US data
▼ + stars: | 2023-07-28 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

[1/3] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Whipsawing as traders digested the decision, the Japanese yen weakened 1.13% versus the greenback and was last at 141.05 per dollar in the New York afternoon session. U.S. annual inflation in June increased by the smallest amount in more than two years, with underlying price pressures moderating. CENTRAL BANK WEEKEarlier this week, the Fed and the European Central Bank announced interest-rate hikes, as expected. The ECB raised the possibility of a pause in September as inflation pressures show tentative signs of easing with recession worries mounting.

Persons: Florence Lo, Karl Schamotta, Adam Button, Jerome Powell, Sterling, bitcoin, Laura Matthews, Amanda Cooper, Alun John, Ankur Banerjee, Jonathan Oatis, Matthew Lewis Organizations: U.S, REUTERS, Bank of Japan, New York, Bank of, Federal Reserve, Commerce Department, ForexLive, Federal, CENTRAL, Fed, European Central Bank, ECB, Thomson Locations: Whipsawing, New, Corpay, Toronto, Japan, Bank of Japan, New York, London, Singapore

☆ Investors manoeuvre, warily, for long-shot BOJ policy move
▼ + stars: | 2023-07-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +5 min

SLOWLY, STEADILYBOJ sources say the central bank is leaning towards keeping its yield control policy unchanged as policymakers wait for data to affirm wages and inflation will keep rising. The benchmark 10-year JGB yield also retreated to 0.445% from as high as 0.485%. "We don't short the JGB market. In part, it's an expensive thing to do - as you know, the Bank of Japan owns 110% of the 10-year JGB market," he said. "Nobody's calling for them to hike aggressively, just bringing some function back to the JGB market, allowing themselves to step away because the data has given them an opportunity to do so.

Persons: Jimmy Lim, Lim, Kazuo Ueda, Nigel Foo, Haruhiko Kuroda, Jim Leaviss, Leaviss, Michael Michaelides, Ales Koutny, James Athey, Athey, Kevin Buckland, Ankur Banerjee, Summer Zhen, Alun John, Divya Chowdhury, Harry Robertson, Vidya Ranganathan, Edmund Klamann Organizations: Bank of Japan, Management, ING, Investors, G Investments, Vanguard, Thomson Locations: TOKYO, Singapore, FSI, abrdn

☆ Big central banks hike again with end in sight
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +5 min

To date, nine developed economies have raised rates by a combined 3,840 basis points (bps) in this cycle. Expectations for a big rate increase have eased after latest data showed inflation fell to a softer-than-expected 7.9% in June. Markets think there's a 50% chance of a 25 bps increase in September, and an equal chance of a hold. Reuters Graphics10) JAPANThe Bank of Japan, the world's most dovish major central bank, concludes a two-day meeting on Friday. The central bank is leaning towards keeping the dial set to dovish, Reuters reported last week.

Persons: Jerome Powell, BoE, Philip Lowe's, Michele Bullock, Riksbank, Kazuo Ueda, Nell Mackenzie, Alun John, Naomi Rovnick, Harry Robertson, Chiara Elisei, Vincent Flasseur, Sumanta Sen, Pasit, Sharon Singleton Organizations: UNITED, Federal Reserve, ZEALAND, Reserve Bank of New, Reuters, BRITAIN, Bank of England, Bank of Canada, BoC, European Central Bank, Norges Bank, bps, Swiss National Bank, Markets, Bank of Japan, Thomson Locations: Japan, Reserve Bank of New Zealand, AUSTRALIA, NORWAY, Norway, SWEDEN, SWITZERLAND, JAPAN

Deutsche Bank's emerging market carry strategy index had its best year on record in the 12 months to May. Reuters GraphicsOVERCROWDING FEARSInvestors, however, are becoming concerned the carry trade might be becoming too popular for its own good. "You have to be worried about some of these more crowded positions," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "I think that is big enough to offset any carry trade income," said Yujiro Goto, head of FX strategy for Japan at Nomura. A hypothetical $50,000 invested in a short Norwegian crown, long dollar carry trade in the first three weeks of July would have lost $3,000, according to Refinitiv.

Persons: Refinitiv, Kamakshya Trivedi, Goldman Sachs, Stephen Gallo, Gallo, James Athey, Yujiro Goto, Oliver Brennan, Brennan, Robin Winkler, Goldman's Trivedi, Geoff Yu, BNY Mellon, Harry Robertson, Alun John, Ankur, Rae Wee, Bernadette Baum Organizations: LONDON, Bank of America, FX, Deutsche, Federal Reserve, European Central Bank and Bank of Japan, BMO Capital Markets, Nomura, BNP Paribas, Bank of England, Bank of Japan, Reuters Graphics, Federal, Deutsche Bank, Swiss, Reuters, Korean, BNY, Thomson Locations: SINGAPORE, Japan, European, U.S, America, Asia, London, Singapore

The yuan firmed by more than 0.5% in both the onshore and offshore markets as investors cheered comments at the closely watched Politburo meeting, though many were still seeking specific details on greater stimulus measures. The yuan traded offshore was last at 7.1444 per dollar and in the onshore market it was at 7.1454 per dollar. Also propping up the yuan were China's major state-owned banks selling U.S. dollars to buy yuan in both onshore and offshore spot markets on Tuesday, sources told Reuters. The positive sentiment from China lifted the Australian dollar, often used as a liquid proxy for the yuan, which rose 0.4% to $0.6767. In Europe, the pound rose 0.22% to $1.2854, its first day of gains after seven straight sessions of losses, its longest such streak since March 2020.

Persons: Tommy Xie, Guillermo Felices, Ueda, Aninda Mitra, Rae Wee, Alun John, Shri Navaratnam, Lincoln, Christina Fincher Organizations: Reuters, European Central Bank, Federal Reserve, Bank of Japan, BNY Mellon Investment Management, Thomson Locations: SINGAPORE, LONDON, China, Europe, Asia, Singapore, London

☆ Dollar clings to gains with central banks in focus
▼ + stars: | 2023-07-24 | by ( Laura Matthews | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The euro was down 0.49% at $1.1069 while sterling was last trading at $1.2823, down 0.25% on the day, kicking off a busy week for central bank meetings with investors expecting rate hikes in Europe and the United States. The Fed concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan (BOJ) on Friday, as well as earnings from many heavyweight companies. The BOJ is the most likely of the three central banks to throw up a market-moving surprise, traders say, with a tweak to its yield curve control policy seen as a possibility. "There's a deep sense of unease around what might come next from the Bank of Japan," said ForexLive's Button.

Persons: Dado Ruvic, Adam Button, John Velis, ForexLive's Button, bitcoin, Laura Matthews, Alun John, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, ForexLive, European Central Bank, Bank of Japan, Investors, ECB, Fed, BNY Mellon, Reuters, Thomson Locations: York, Europe, Toronto, U.S, United States, Americas, New York

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. The euro slid after PMI data showed euro zone business activity shrank much more than expected in July. The pound also dropped after British business activity data, but its move was less dramatic. There is plenty more for investors to watch this week - the Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan on Friday, as well as earnings from many heavyweight companies.

Persons: Dado Ruvic, Joe Manimbo, bitcoin, Laura Matthews, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, P Global, Washington D.C, ECB, PMI, Reserve, European Central Bank, Bank of Japan, Investors, Fed, Reuters, Thomson Locations: York, LONDON, U.S, Europe, Washington, United States, New York

The European common currency fell 0.4% to $1.1083 , skidding after a quiet Asian session on PMI data that showed euro zone business activity shrank much more than expected in July. The pound dropped after British activity data, but less dramatically and was last down 0.1% at $1.2839. The yen strengthened with the dollar down 0.47% at 141.2 yen , and the euro down 0.7% at 156.6 yen. The Swiss franc was steady at 0.8648 per dollar, and the dollar index was up 0.1% at 101.2. Reporting by Tom Westbrook; Editing by David Holmes and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Harvey, Bob Savage, Tom Westbrook, David Holmes, Jacqueline Wong Organizations: SYDNEY, PMI, Reserve, European Central Bank, Bank of Japan, Investors, ECB, Fed, U.S, BNY Mellon, The Bank of Japan, Reuters, Commonwealth Bank of Australia, Swiss, Thomson Locations: LONDON, Europe, United States, Ukraine

☆ Take Five: School's (not) out for summer
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +5 min

LONDON, July 21 (Reuters) - The peak holiday season is gearing up, but school's not quite out for summer in financial markets. Also in focus are earnings from some of the massive tech and growth stocks that have led markets higher this year. Reuters Graphics2/ SUMMER READINGBefore they go on their summer break, ECB policymakers have a well-flagged rate hike to deliver. Rate-setters' summer reading list just got longer. Second-quarter earnings are expected to decrease 9.2% from a year earlier, according to I/B/E/S data from Refinitiv, with aggregate earnings likely to be weighed down by poor performance from energy companies.

Persons: school's, Ira Iosebashvili, Kevin Buckland, Naomi Rovnick, Alun John, Dhara, Jerome Powell, Christine Lagarde, Kazuo Ueda's, Shinichi Uchida, Uchida, Ueda, Stocks, it's, Dhara Ranasinghe, Muralikumar Organizations: U.S . Federal Reserve, European Central Bank and Bank of Japan, Reserve, Microsoft, Reuters, ECB, Bank of Japan, Barclays, People's Party, Socialist Workers ' Party, Thomson Locations: Spanish, Ira, New York, Tokyo, London, Europe, SPAIN, Spain

☆ Investors' dash to cash may have peaked - BofA
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - Investors' rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. (.SPX)Tech stocks have seen strong inflows for the past eight weeks, BofA said, and high yield bonds saw their third weekly inflow in the week to Wednesday versus outflows from investment grade bonds. The weekly data, however, showed $7.5 billion of flows into cash, as well $1.4 billion to bonds, $600 million from gold and $2.1 billion from stocks. Bank loans saw inflows of $400 million, the most since May 2022, and Japanese equities saw their seventh week of inflows, its longest streak since January. Reporting by Alun John; Editing by Amanda Cooper and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, BofA's, Alun John, Amanda Cooper, Kim Coghill Organizations: Bank of America, Silicon Valley Bank, Tech, Bank, Thomson Locations: U.S, United States

[1/3] Pound notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble/LONDON/SINGAPORE, July 19 (Reuters) - Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. ,That was the British currency's lowest in a week against the dollar, as it continued to roll off a 15-month high of $1.3144 hit Thursday. Bank of Japan Governor Kazuo Ueda said on Tuesday there was still some distance to sustainably achieving the central bank's 2% inflation target, signalling his resolve to maintain ultra-loose monetary policy for the time being, in contrast to the hawkishness at other major central banks. Economists polled by Reuters expect the Fed to deliver a 25-basis-point rate hike at its upcoming policy meeting this month, with a majority betting that will bring an end to the central bank's current monetary tightening cycle.

Persons: ber, Phil Noble, Sterling, “, Kenneth Broux, Kazuo Ueda, Alun John, Rae Wee, Shri Navaratnam, Sam Holmes, Sharon Singleton Organizations: REUTERS, LONDON, Bank of England, Bank of Japan, Societe Generale, New Zealand, Federal, Reuters, Thomson Locations: Manchester, Britain, SINGAPORE, British, Asia Pacific, London, Singapore

☆ Cooler inflation unleashes monster rally in UK markets, dents pound
▼ + stars: | 2023-07-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

British annual consumer price inflation fell to a lower than expected 7.9% in June, below a forecast for a decline to 8.2%. June's rate was a long way off last October's 41-year high of 11.1%, but far above the BoE's 2% target rate. "Some good news on UK inflation at last, coming in below expectations for June and most importantly the core inflation rate fell more than thought," Neil Birrell, who is chief investment officer at Premier Miton Investors, said. British finance minister Jeremy Hunt said there was still a long way to go to reduce inflation towards target. Meanwhile, interest-rate derivatives showed traders no longer believe UK rates will have to rise above 6% to temper inflation.

Persons: Barratt, Taylor Wimpey, Neil Birrell, Sterling, Jeremy Hunt, Hunt, Jeremy Batstone, Carr, Raymond James, Danilo Masoni, Alun John, Dhara Ranasinghe, Andrew Organizations: Reuters, Premier Miton Investors, Bank of England, Thomson Locations: United States, European, Milan

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