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☆ CNBC Daily Open: Investors shrugged off a hawkish Fed and hot PPI
▼ + stars: | 2023-10-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineInvestors shrugged off Fed minutes that tilted hawkish and a hotter-than-expected PPI report to give markets a fourth consecutive winning session. Unfortunately, September's PPI report came in surprisingly hot. It's true the PPI report focuses on producer prices, while the Fed tends to scrutinize the consumer side of the equation more. Investors could be feeling defiant — or wanting to seize the opportunity to snap up stocks at relatively cheaper prices — after September's stocks slump.

Persons: Jerome Powell, Ryan Collerd, Derek Schug, weren't fazed, Treasurys Organizations: US Federal Reserve, Bloomberg, Getty, CNBC, PPI, Fed, CPI, today's, Kestra Investment Management, Dow Jones, Nasdaq Locations: York , Pennsylvania

☆ The CPI trade: Here's where JPMorgan sees the market going, based on these scenarios
▼ + stars: | 2023-10-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

"This would be the Goldilocks Scenario," JPMorgan wrote. This could lead to the S & P 500 rallying between 1% and 1.5%. This outcome could pull the S & P 500 down in a range of 1.5% to 2%. "Another tail-risk outcome where some of the most interesting moves could come from the bond market," JPMorgan wrote. JPMorgan expects the S & P 500 to jump 1.5% to 2%.

Persons: Dow Jones, — CNBC's Michael Bloom Organizations: Federal Reserve, JPMorgan, Fed, CPI Locations: U.S

Yet increasingly, euro area specific factors, particularly exposure to higher oil prices, risk further weakness in an already stagnating economy, and the single currency. The euro is especially vulnerable to rising oil prices, with net imports accounting for over 90% of oil products available in the European Union. "High oil prices are weighing on the euro area's terms of trade, and if oil prices move above $100 per barrel to $110 per barrel we think it will be difficult for the euro to avoid parity," said Nomura's G10 FX strategist Jordan Rochester. But it also lifts price pressures through higher import costs, compounding the impact from higher oil prices. "Definitely the euro zone is not in a good place right now," said Moec, adding that he did not rule out a euro move to parity.

Persons: Dado Ruvic, Jordan, Nomura, Morgan Stanley, Jens Eisenschmidt, Francesco Pesole, Athanasios, Gilles Moec, Dhara Ranasinghe, Alun John, Yoruk, Christina Fincher Organizations: U.S, REUTERS, European Union, OPEC, Barclays, European Central Bank, ECB, ING, Germany, Bank of America, AXA Investment, Thomson Locations: Jordan Rochester, United States, ITALY, Italy, U.S, London, Amsterdam

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The yen eased to 149.83 per dollar, its weakest in more than 11 months, moving ever closer to the 150 mark that some traders believe could prompt intervention by Tokyo to support the currency. "If the yen breaks 150 per dollar, which I think is likely, and verbal intervention is not followed by action then we could see dollar-yen at 155." In the broader currency market, sterling was last 0.4% lower at $1.2158, having slid nearly 4% against the dollar in the third quarter. Elsewhere, the Australian dollar slid 0.6% to $0.6395, while the New Zealand dollar edged 0.4% lower to $0.5972, as traders looked ahead to rate decisions from their respective central banks this week.

Persons: Florence Lo, Dane Cekov, Shunichi Suzuki, Jarrod Kerr, Nordea's Cekov, bitcoin, Samuel Indyk, Rae Wee, Shri Navaratnam, Simon Cameron, Moore, Emelia, Alex Richardson Organizations: U.S, REUTERS, Bank of Japan, Bank of Japan's, Finance, Congress, Democratic, Australian, New Zealand, Thomson Locations: Tokyo, Britain, U.S

☆ Stocks make meandering start to quarter; yen hits near 1-year low
▼ + stars: | 2023-10-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The yen fell to within a whisker of 150-per-dollar and its weakness is a boon for exporters' and the pricing of their foreign earnings in yen. European futures rose 0.2%. Japanese stocks were also boosted by the Bank of Japan's quarterly Tankan survey, which showed an improvement in business sentiment. In the Treasury market 10-year yields rose 4 bps to 4.6124% and the two-year yield rose 3.7 bps to $5.0832%. Crude oil steadied after late-week fallsBrent December crude futures rose 16 cents, or 0.2%, to $92.36 a barrel.

Persons: Issei Kato, Christopher Wong, Brent, Kevin Buckland, Tom Westbrook, Edwina Gibbs, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Japan's Nikkei, Bank, Bank of Japan, Futures, Treasury, New, . West Texas, Thomson Locations: Tokyo, Japan, U.S, India, Hong Kong, China, Asia, Pacific, New Zealand, Singapore

☆ Buoyant dollar pushes fragile yen to within striking distance of 150
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The dollar kicked off the last quarter of the year on the front foot on Monday as the prospect of higher-for-longer U.S. rates provided solid support, pushing the yen to an 11-month low. Sterling was last 0.13% lower at $1.2188, having similarly slid nearly 4% against the dollar in the third quarter. "This puts the 1 November FOMC meeting back on the table as a potential venue for a further 25-basis-point rate hike." Elsewhere, the Australian dollar fell 0.07% to $0.64305, while the kiwi edged 0.1% lower to $0.59925.

Persons: Olivier d'Assier, Jarrod Kerr, Sterling, Kiwibank's Kerr, Chris Weston Organizations: U.S, Congress, Democratic, U.S . Labor Department, CPI Locations: Tokyo, Japan, Asia, Australia, China

☆ Bitcoin has limited upside in the fourth quarter as the possibility of higher rates casts a shadow over crypto
▼ + stars: | 2023-09-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

In the final quarter of the year, bitcoin is likely to see continued chop and although there's room for some upside, it may be limited. Despite this, it remains on pace for an 11% decline in the third quarter, historically a weaker quarter for the cryptocurrency. Meanwhile, holding a non-yielding asset like gold or bitcoin could become "less interesting" as rates go higher, Amberdata's Magadini said. There's a significant crowd on both sides, Cox said – "that's why bitcoin is up 60% in a year when the Fed has hiked interest rates so aggressively." The answer to that depends on interest rates, which will probably stay high."

Persons: Bitcoin, bitcoin, Greg Magadini, Rob Ginsberg, wouldn't, haven't, Callie Cox, That's, Amberdata's Magadini, Cox Organizations: SEC, –, Wolfe Research, Fed

☆ Morning Bid: Rate jitters wear down wary markets
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Asian markets were under pressure as the day progressed, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) sliding to its lowest in 10 months. Futures indicate the sombre mood is likely to continue as Europe wakes, with markets there due to open lower. Congress has shut down the government 14 times since 1981, though most of those funding gaps lasted only a day or two. Meanwhile, tech stocks are likely to be in the spotlight after a long-awaited antitrust lawsuit against Amazon.com (AMZN.O) from the U.S. Federal Trade Commission was filed on Tuesday. It also said the popular game has reached $20 billion in revenue since its 2012 launch.

Persons: Treasuries, Candy Crush, King, Ankur Banerjee, Edmund Klamann Organizations: Ankur, Treasury, Nikkei, Republicans, Congress, China Evergrande, HK, Bloomberg, Amazon.com, U.S . Federal Trade Commission, FTC, Big Tech, Microsoft, Wall Street, Reuters, Thomson Locations: U.S, Asia, Pacific, Japan, Europe, Swiss

☆ Morning Bid: Markets catch breath after bruising recoil
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +5 min

China's markets will also be disrupted by Golden Week holidays next week. Ten-year Treasury yields hit another 16-year high at 4.56% on Tuesday before dialling back a bit on Wednesday, with 10-year real yields hitting 14-year peaks at 2.24%. Risk spreads in junk bond and overseas sovereign bond markets are also creeping higher again, with exchange-traded U.S. junk bond funds hitting their lowest since May and Italy's government bond yield premium over Germany widening too. Worrying for many investors this week has been how bond yields have climbed despite weaker economic signals and how stock and bond losses are correlating again. World markets were more mixed, with China's bourses managing some gains ahead of the big holiday week.

Persons: Mike Dolan, Goldman Sachs, Jerome Powell's, Neel Kashkari, shakeout, Shorter, China's bourses, Michelle Bowman, Jane Merriman Organizations: Federal Reserve, Minneapolis Fed, Golden, Nasdaq, Big Tech, U.S . Federal Trade Commission, Costco, China Evergrande, HK, United, Treasury, Micron, Paychex Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Washington, Germany, United States

☆ US yields revisit highs, Asia stocks sag on hawkish Fed angst
▼ + stars: | 2023-09-26 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Asia-Pacific stock benchmarks sagged along with gold, while crude oil continued to drift back from 10-month highs. Westpac strategists see risks skewed toward even higher yields in the near term, pulling up the dollar as well. "We expect 10yr yields to establish a new, higher, yield range in coming weeks," with a possible peak around 4.75%, they said. The European Central Bank and Bank of England have also touted higher rates for longer in policy meetings since the middle of the month. Crude oil remained weak amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight.

Persons: Brendan McDermid, Hong, HSI, Austan Goolsbee, Sterling, Gold, Kevin Buckland, Shri Navaratnam Organizations: New York Stock Exchange, REUTERS, Rights, Treasury, Federal Reserve, U.S, Tokyo's Nikkei, Traders, Westpac, Chicago Fed, Fed, European Central Bank and Bank of England, Brent, U.S . West Texas, Thomson Locations: New York City, U.S, Asia, Pacific, Japan, Britain

☆ Dollar at 10-month top as US yields spike; yen slides
▼ + stars: | 2023-09-26 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

U.S. Dollar banknote is seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSINGAPORE, Sept 26 (Reuters) - The dollar stood by 10-month highs against a basket of major currencies on Tuesday, supported by U.S. bond yields scaling 16-year peaks, while the yen tiptoed deeper into the intervention danger zone. "Few currencies will resist the bullish dollar macro resiliency theme and the euro and Chinese yuan look more vulnerable than most." The yen has slowly but inexorably slid toward the 150-per-dollar mark as policymakers stuck with ultra-easy settings. The yen hit 148.97 to the dollar on Monday and last traded at 148.72.

Persons: Dado Ruvic, Sterling, Jane Foley, Tom Westbrook, Jamie Freed Organizations: REUTERS, Rights, Treasury, U.S, Australia's Westpac, Swiss, Traders, Bank of Japan, Thomson Locations: Rights SINGAPORE, Europe, Asia, U.S, Tokyo

☆ Dollar at 10-month top as U.S. yields spike, yen slides
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: +3 min

The dollar stood by 10-month highs against a basket of major currencies on Tuesday, supported by U.S. bond yields scaling 16-year peaks, while the yen tiptoed deeper into the intervention danger zone. "Few currencies will resist the bullish dollar macro resiliency theme and the euro and Chinese yuan look more vulnerable than most." The yen has slowly but inexorably slid toward the 150-per-dollar mark as policymakers stuck with ultra-easy settings. The yen hit 148.97 to the dollar on Monday and last traded at 148.72. "We remain of the view that the dollar is unlikely to weaken significantly until Fed rate cuts are firmly on the horizon," she said.

Persons: Sterling, Jane Foley Organizations: Treasury, U.S, Australia's Westpac, Swiss, Traders, Bank of Japan Locations: Europe, Asia, U.S

Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. REUTERS/Stringer Acquire Licensing RightsCompanies Baker Hughes Co FollowLONDON, Sept 25 (Reuters) - Oil prices held steady on Monday after Russia relaxed its fuel ban, taking the edge off earlier gains on a tighter supply outlook and wariness over interest rates that could curb demand. Russia approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels and diesel with high sulphur content, a government document showed on Monday. Crude prices fell last week after a hawkish Federal Reserve rattled global financial markets and raised concerns over oil demand. However, analysts flagged that oil prices face technical resistance at the November 2022 highs reached hit last week.

Persons: Stringer, Baker Hughes, Tony Sycamore, IIR, Goldman Sachs, Paul Carsten, Mohi Narayan, Florence Tan, Louise Heavens, David Goodman Organizations: REUTERS, Brent, . West Texas, Federal Reserve, Northern, IIR Energy, Thomson Locations: Heilongjiang province, China, Russia, Saudi Arabia, Moscow, United States, London

REUTERS/Stringer Acquire Licensing RightsSept 25 (Reuters) - Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Both contracts fell last week, snapping a three-week winning streak, after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. However, analysts flagged that oil prices face technical resistance at the November 2022 highs that were hit last week. In a positive sign, China's oil demand increased 0.3 million barrels per day (bpd) to 16.3 million bpd last week, partly due to a gradual recovery in jet fuel demand for international flights, they added.

Persons: Stringer, Tony Sycamore, Vandana Hari, Baker Hughes, Goldman Sachs, Mohi Narayan, Florence Tan, Sonali Paul, Christian Organizations: REUTERS, Brent, . West Texas, IG, Northern, Vanda Insights, Thomson Locations: Heilongjiang province, China, Moscow, Saudi Arabia, Russia, United States, Florence

☆ Sliding yen raises intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) 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. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.05% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.58.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling, Thierry Wizman, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S

☆ Sliding yen stokes intervention threat; dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) 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. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman, Rae Wee Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S, Asia

☆ Sliding yen stokes intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

An employee counts Japanese 10,000 yen banknotes at the Birdy Exchange in Hong Kong, China. Several factors were supporting the recovery in the Japanese yen on Tuesday. Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman Organizations: Birdy, Bank of Japan, Reserve, Commonwealth Bank of Australia, U.S, Treasury, Bank, Fed, New Zealand Locations: Hong Kong, China, Washington, Japan, U.S, Asia

☆ Oil climbs with tight supply back in focus
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Both contracts snapped a three-week winning streak to fall last week after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. However, analysts flagged that oil prices face technical resistance at November 2022 highs that were hit last week. In a positive sign, China's oil demand increased 0.3 million barrels per day to 16.3 million bpd last week, partly due to a gradual recovery in jet fuel demand for international flights, they added.

Persons: Tony Sycamore, Baker Hughes, Goldman Sachs Organizations: Brent, . West Texas, IG Locations: Moscow, Saudi Arabia, Russia, United States, China

☆ S&P 500, Nasdaq notch biggest weekly losses since March
▼ + stars: | 2023-09-22 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. All three posted weekly losses, with the S&P 500 and the Nasdaq registering their largest Friday-to-Friday percentage drops since March. On Thursday, the S&P 500 dipped below its 100-day moving average - a key support level - for the first time since March, Its failure to break above that level suggests the index is still under downward pressure. Among the 11 major sectors of the S&P 500, consumer discretionary (.SPLRCD) suffered the steepest percentage loss, while tech (.SPLRCT) and energy (.SPNY) were the only gainers. The S&P 500 posted one new 52-week high and 35 new lows; the Nasdaq Composite recorded 33 new highs and 321 new lows.

Persons: Brendan McDermid, Alibaba, Zachary Hill, Hill, Jerome Powell, Michelle Bowman, Robert Pavlik, Li Auto, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Reuters, UAW, Dow, Nasdaq, Horizon Investments, Benchmark U.S, Treasury, Dakota Wealth, Dow Jones, Ford Motor, United Auto Workers, Activision, Microsoft, PDD Holdings, Baidu, Bloomberg, Hong, NYSE, Thomson Locations: New York City, U.S, Hong Kong, Charlotte , North Carolina, Fairfield , Connecticut, Bengaluru

☆ US stocks rise but head for losing week amid spike in bond yields and surging oil prices
▼ + stars: | 2023-09-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks ticked higher Friday but were on track for a losing week. Oil prices and bond yields surged during the week, with Brent crude up 0.75% Friday. Policymakers made no rate adjustment Wednesday, but could make one more hike before year's end. The major indexes are coming off three consecutive days of losses and remain on track to finish the week in the red as bond yields jump on hawkish Federal Reserve commentary and surging oil prices. After policymakers indicated that rates could remain higher for longer into 2024, bond yields surged, with the 10-year Treasury hitting 4.49%, its highest level since 2007.

Persons: Brent, Nicholas Colas Organizations: Service, Fed, Treasury, Labor Department, Markets, Dow Jones Locations: Wall, Silicon

NICKELS & STEAMROLLEREstimating the size of hedge funds' basis trade bets is difficult because transparency and visibility around hedge funds is so low at the best of times, especially with regard to their more complex activities and strategies. Many analysts look at leveraged funds' position in Treasuries futures, and the Aug. 30 Fed paper also noted speculators' repo borrowings. This is a fairly reliable sign of basis trade activity, the Aug. 30 Fed paper says. Overnight repo rates have steadily tracked the fed funds policy rate since March 2022. Basis trade liquidation, as funds got squeezed out of their positions through margin and collateral calls as volatility rocketed, likely contributed to that dislocation.

Persons: Steven Zeng, Christoph Schon, Jamie McGeever, Paul Simao Organizations: Fed, Bank for International, Deutsche Bank, STEAMROLLER, Futures, Reuters, Thomson Locations: ORLANDO, Florida, U.S

☆ US stocks close at lowest since June, Treasury yields spike on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Interest rate-sensitive megacaps, led by Amazon.com (AMZN.O), Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) dragged the S&P 500 and the Nasdaq to their lowest closing levels since June. "It gives people another chance to say that the lag time of higher rates – which we're just starting to feel – might really bite." All 11 major sectors of the S&P 500 lost nearly 1% or more, with real estate stocks (.SPLRCR) suffering its biggest one-day percentage drop since March. The S&P 500 posted three new 52-week highs and 29 new lows; the Nasdaq Composite recorded 22 new highs and 373 new lows.

Persons: Brendan McDermid, Jerome Powell, dampening, Thomas Martin, we're, –, Martin, Rupert Murdoch, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Treasury, Amazon.com, Nvidia Corp, Apple Inc, Inc, UAW, Dow Jones, . Semiconductor, SOX, Klaviyo Inc, Arm Holdings, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Atlanta, Philadelphia, New York, Bengaluru

☆ Stocks retreat, US yields advance, dollar strengthens on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

Passersby walk past an electric board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Sept 21 (Reuters) - Asian stocks followed Wall Street's lead on Thursday, dipping across the board as investors interpreted the U.S. Federal Reserve's latest policy statements as signalling higher-for-longer interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.6%, with the Hong Kong benchmark shedding 0.8%. The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970%. The overall tone of the Fed's latest meeting was not overly hawkish but there were two surprises, he said.

Persons: Issei Kato, Ben Luk, Luk, Brent, Xie Yu Organizations: Nikkei, REUTERS, . Federal, Hong, Japan's Nikkei, Treasury, State Street Global Markets, Fed, U.S ., Major U.S, Bank of England, Thomson Locations: Tokyo, Japan, HONG KONG, ., Asia, Pacific, Hong Kong, U.S, Indonesia, Philippines, Taiwan

☆ European shares slide on hawkish Fed; more c.bank decisions on tap
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Summary STOXX 600 down 0.6%Sept 21 (Reuters) - European shares fell on Thursday, tracking overnight losses on Wall Street after the U.S. Federal Reserve signalled higher-for-longer interest rates and ahead of rate decisions from the Swiss National Bank, Riksbank, Norges Bank and Bank of England. The pan-European STOXX 600 index (.STOXX) shed 0.6% by 0709 GMT, with rate-sensitive tech stocks (.SX8P) easing 0.8%. The Fed held key interest rates steady on Wednesday, as widely expected, and revised economic projections higher with warnings that the battle against inflation was far from over. The focus is now also on the monetary policy decisions in Switzerland, Sweden, Norway and the UK later in the day after the European Central Bank (ECB) raised its key interest rate last week to a record high of 4%. Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bansari Mayur, Savio D'Souza Organizations: U.S . Federal Reserve, Swiss National Bank, Norges Bank and Bank of England, Fed, Nasdaq, European Central Bank, FTSE, Thomson Locations: Riksbank, Switzerland, Sweden, Norway, Bengaluru

☆ India shares close at two-week low as hawkish Fed spooks investors
▼ + stars: | 2023-09-21 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. Both the indexes fell for a third straight session on Thursday, losing as much as 1%. The Fed on Wednesday held key interest rates unchanged as widely expected, but warned that the battle against inflation was far from over. Higher interest rates dry up liquidity from the markets, increasing the cost of capital. The small-cap and mid-cap stocks fell 1.3% and 0.9% on Thursday, respectively.

Persons: Francis Mascarenhas, Siddhartha Khemka, Janane Organizations: Bombay Stock Exchange, REUTERS, Rights, U.S . Federal Reserve, BSE, Motilal Oswal Financial Services, Fed, . Banking, Sethuraman NR, Thomson Locations: Mumbai, India, Bengaluru

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