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Many of the “over-reported records” in the audit were because of bad data entry processes, "rather than intentional falsification of traffic stop data,” said the report, commissioned by Gov. The investigators, however, also said they found “significant failures” by state police in reporting accurate traffic stop information to a statewide databased used to analyze any potential racial profiling by police. The audit said 130 troopers had been identified as having a significant disparity between traffic stop information submitted to the database compared with the court system. State police have been reviewing the traffic citation data. What we have seen is information that provides explanations for why some of the data may have been inaccurate.”

Persons: “, ”, Ned Lamont, Attorney Deidre Daly, —, Lamont, Ken Barone, ” Barone Organizations: Gov, U.S, Attorney, University of Connecticut, UConn, Justice, Transportation Locations: HARTFORD, Conn, Seven Connecticut

☆ Fed meeting walkup: Chair Powell expected to announce rates will hold steady
▼ + stars: | 2024-01-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington, DC CNN —The Federal Reserve is widely expected to hold interest rates steady Wednesday for the fourth consecutive meeting, leaving them at a 23-year high as policymakers likely discuss the timing of rate cuts. That’s because, if inflation drifts lower but interest rates remain elevated, it causes “real” interest rates to rise, unnecessarily squeezing the economy and risking job losses. A rapidly weakening economy threatening mass job losses is an obvious reason to cut rates, which most economists aren’t currently forecasting. But another concern that has gained some traction is the rise of inflation-adjusted interest rates, which is an argument for rate cuts. The Fed is set to announce its latest policy decision at 2 pm ET on Wednesday, followed by a press conference from Chair Powell at 2:30 pm ET.

Persons: Jerome Powell’s, —, ” Sarah House, “, ”, Christopher Waller, it’s, Mary Daly, they’re, aren’t, Austan Goolsbee, Subadra Rajappa, Générale, Powell Organizations: DC CNN, Federal Reserve, Fed, CNN, ” San Francisco Fed, Fox Business, Chicago Fed, CNBC, PCE, Labor Department Locations: Washington, Wells, ” San

When Aaliyah Iglesias was caught vaping at a Texas high school, she didn’t realize how much could be taken from her. ___E-cigarettes have inundated middle and high schools. The episode that got her in trouble happened elsewhere in Texas, at Athens High School, where her debate team was competing last February. She was sent to her district’s alternative school for 30 days, which was the minimum punishment for students caught vaping under Tyler schools' zero-tolerance policy. In a pilot program, the district installed vape sensors in bathrooms and cameras outside the doors.

Persons: Aaliyah Iglesias, vaping, ___, Iglesias, “, ” Iglesias, I’m, Tyler, Rick Cadiz, ”, Michael Allman, Jennifer Villines, they’re, ” Villines, it’s, “ I’m, McCarthy, Yasmeen Saadi, Mikaela, Asplen Gengenbacher, Alexis Simmerman, Parker Daly, Elise Darragh, Ford, Emily Handsel, Henry Hill, Victoria Ren, Shaurya Sinha, Carolyn Stein, Jessica Yu Organizations: Schools, Stanford University, University of Missouri, Associated Press, Tyler High School, Athens High School, Smart Sensors, IPVideo, HALO, “, San Dieguito Union High School District, Coppell Independent School District, vaping, National Honor Society, Tyler Junior College Locations: Texas, Tyler , Texas, Tyler, ” Cadiz, Cadiz, California, Gorman, AP.org

Five players from Canada's 2018 world junior team have taken a leave of absence from their current clubs in recent days amid a report that five members of that team have been asked to surrender to police to face sexual assault charges. The NHL Players' Association declined to comment. In the meantime, members of the organization, including Flyers players, will not be commenting any further. Hockey Canada has made wholesale changes after a scathing independent report and lost major sponsors in the nearly two years since this and other scandals emerged. Nike last year permanently ended its partnership with the organization after earlier pausing it, along with other sponsors, given the heavy criticism of Hockey Canada leadership.

Persons: Michael McLeod, Cal Foote, Carter Hart, Dillon Dube, Alex Formenton, Formenton, McLeod, Foote, Sandasha Bough, Daniel Briere, “, Bill Daly, Daly, ” Daly, Hart's, Briere, ” Briere, “ We’re, ”, Lindy Ruff, Dube, Dillon, ” Formenton, Scott Smith, Dan Gelston, John Wawrow, ___ Organizations: NHL, New Jersey Devils, Philadelphia Flyers, Calgary Flames, Flyers, Swiss, HC Ambri, Devils, NHL Players, Association, Hockey Canada, Globe &, London Police, The Associated Press, Associated Press, London police, Flames, Ottawa Senators, Switzerland's National, Hockey, Nike, AP, AP Hockey Locations: Europe, Swiss, Canada, London , Ontario, Toronto, Detroit, Colorado, Newark , New Jersey, Hockey Canada, Voorhees , New Jersey, Buffalo , New York

☆ Dollar hovers near 6-week high on Fed view; yen edges up after BOJ
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +4 min

The Japanese yen , though, ticked higher as expectations rose for a stimulus exit as soon as March, following hawkish comments from the Bank of Japan on Tuesday. "We have seen ECB (European Central Bank) officials push back on rate cut expectations as well, in line with the Federal Reserve." The dollar declined 0.17% to 148.085 yen, after swinging from as low as 146.99 and as high as 148.70 on Tuesday. The Bank of Canada meets on policy on Wednesday, and is expected to leave its key overnight rate unchanged at a 22-year high of 5%. Traders have unwound bullish positions built up in anticipation of U.S. approval of the country's first spot bitcoin exchange traded fund (ETF).

Persons: Mary Daly, Christopher Waller, James Kniveton, Christine Lagarde's, Sterling, Kazuo Ueda, China's, cryptocurrency, Bitcoin Organizations: Federal Reserve, Bank of Japan, U.S, San Francisco Fed, ECB, European Central Bank, Bank of England, Bank of Canada, Bloomberg, Traders Locations: U.S

☆ Dollar struggles to retain gains even as March rate cut odds recede
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +3 min

Japan's yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday's one-month low of 148.80. San Francisco Federal Reserve Bank President Mary Daly on Friday said she believes the U.S. economy and monetary policy are in a "good place" and it is premature to think rate cuts are imminent. Short-term interest rate futures market show traders are betting interest rate cuts will start in May, with the probability of a March cut dropping below 50%, down from near 80% in the first weeks of January, according to CME Group data. "The USD holds a fair relationship with the evolving implied pricing for a March Fed cut, where rate cut probability falls the USD rallies, and vice versa," he wrote. Much of the gains have come from investor bets on Fed rate cuts.

Persons: dovish, Mary Daly, Chris Weston, Pepperstone Organizations: U.S, of Japan's, Federal Reserve, San Francisco Federal Reserve Bank, Group, NatWest Markets, European Central Bank, ECB Locations: Japan, Europe, U.S

☆ Markets tried to fight the Fed on rate cuts. It didn’t work
▼ + stars: | 2024-01-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Now there’s roughly a 50/50 chance that the Fed could either cut rates or hold them steady in March, according to futures. A few developments this past week tempered investors’ optimism, and now the possibility of a rate cut in March could be completely thrown out the window, according to economists. He echoed other Fed officials who’ve recently said that beginning to cut rates in March is just not realistic. In addition to officials’ comments, recent economic data also doesn’t bode well for a March rate cut. Markets are expecting twice as many rate cuts this year than what Fed officials themselves estimated in their latest economic projections released in December.

Persons: ’, Christopher Waller, ”, who’ve, Loretta Mester, “, Mary Daly, it’s, Daly, bode, Waller, ” Bill Adams, ” Daniel Altman, Jerome Powell’s, Donald Trump, Christine Lagarde, couldn’t, Jamie Dimon, Trump, Joe Biden, Bank of America’s Brian Moynihan, OpenAI’s Sam Altman, Johnson, Lockheed Martin, Levi Strauss, Booz Allen Hamilton, CNN’s Elisabeth Buchwald Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Fed, Brookings Institution, ” Cleveland Fed, Bloomberg, ” San Francisco Fed, Fox Business, Commerce Department, Labor Department, Employers, Comerica Bank, CNN, Biden, Trump, Economic, European Central Bank, ”, JPMorgan, Bank of America’s, United Airlines, The Bank of Japan, Netflix, General Electric, Procter, Gamble, Johnson, Verizon, Lockheed, Haliburton, Tesla, IBM, Bank of Canada, Global, American Airlines, Southwest Airlines, Alaska Airlines, Co, Visa, Intel, Mobile, Comcast, Capital, US Commerce Department, Chicago Fed, US Labor Department, American Express, Colgate, Palmolive, Booz, National Association of Realtors Locations: Washington, ” San, East, Iran, Davos, Switzerland, Iowa, Swiss, United States

☆ The Fed could cut interest rates as early as the first quarter of 2024. Here are 7 quotes from central bankers that hint at what comes next.
▼ + stars: | 2023-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Markets are betting the Federal Reserve will cut interest rates as soon as early 2024. AdvertisementWall Street largely anticipates that the Federal Reserve has finished its interest rate-hiking cycle, and markets are betting central bankers will begin easing policy soon. Tom Barkin, Federal Reserve Bank of Richmond president, November 29: "If inflation comes down naturally and smoothly, awesome. Mary Daly, Federal Reserve Bank of San Francisco president, November 30: "I'm not thinking about rate cuts at all right now. John Williams, Federal Reserve Bank of New York president, November 30: "My assessment is that we are at, or near, the peak level of the target range of the federal funds rate."

Persons: Jerome Powell, —, CME's, Christopher Waller, Tom Barkin, Raphael Bostic, Mary Daly, John Williams, Williams Organizations: Federal Reserve, Service, ING, Barclays, Federal Reserve Bank, Richmond, Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco, Federal Reserve Bank of New York, Federal

Ms. Dettore and Mr. Grozier were each fined several hundred dollars, and she has since left Rankin County. After Mr. McAlpin arrested Mr. Loveday and accused him of consorting with drug dealers, he ordered him to leave town. Before he left Mississippi, Mr. Loveday said, he called Sheriff Bailey personally to warn him about his deputies’ behavior. He called Mr. Loveday a dirty cop and accused him of secretly recording the call. Then, Mr. Loveday said, “He hung up on me.”Jerry Mitchell , Ilyssa Daly , Eric Sagara and Irene Casado Sanchez contributed reporting.

Persons: Robert Grozier, Christian Dedmon, Dettore, Grozier, Hobson, Loveday, McAlpin, ”, Sheriff Bailey, Bailey, “, ” Jerry Mitchell, Ilyssa Daly, Eric Sagara, Irene Casado Sanchez, Kitty Bennett Organizations: Big Local, Stanford University, Pulitzer Center Locations: Rankin County, Mississippi

It is the strongest overhaul of lead rules in more than three decades, and will cost billions of dollars. The Biden administration has previously said it wants all of the nation’s roughly 9 million lead pipes to be removed, and rapidly. Lead pipes connect water mains in the street to homes and are typically the biggest source of lead in drinking water. The Biden administration says investment is vital to fix this injustice and ensure everyone has safe, lead-free drinking water. A home with dangerous lead levels can be next to a house with no lead exposure at all.

Persons: Biden, ”, Mona Hanna, Radhika Fox, Erik Olson, “ We’re, Fox, Donald Trump's, ” ___ Matthew Daly Organizations: Environmental Protection Agency, EPA, Natural Resources Defense Council, The Association of Metropolitan Water Agencies, Washington , D.C, Associated Press, Walton Family Foundation, AP Locations: U.S, Flint , Michigan, Washington, Flint, Michigan, Benton Harbor , Michigan, Newark , New Jersey, Washington ,

While the Dow rose to 35,725.11 points, crossing its intraday high of 35,679.13 points hit in August, all three main indexes were on course for their strongest November since 2020. The S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) were also poised for their biggest monthly percentage gain since July 2022, on signs of cooling price pressures. The personal consumption expenditure (PCE) index - the Fed's preferred inflation gauge - showed inflation remained unchanged in October on a monthly basis, against economists' projections of a 0.1% increase. Core inflation, which excludes volatile food and energy prices, rose 0.2% on a monthly basis, in line with estimates. But most megacap stocks edged lower, with Tesla (TSLA.O) down 1.4% and leading declines, keeping the S&P 500 (.SPX) and Nasdaq (.SPX) under pressure.

Persons: Caitlin Ochs, Salesforce, Dow Jones, Dow, Anthony Saglimbene, Mary Daly, John Williams, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Reserve, U.S, Treasury, Fed, San Francisco Fed, Bank of New York, Dow Jones, Inc, NYSE, Thomson Locations: New York City, U.S, Troy , Michigan, Bengaluru

Fresh data shows price pressures are easing and the labor market is gradually cooling, evidence that the slowdown the Fed has tried to engineer with its rate hikes to date is underway. Still, the unemployment rate at last read was 3.9%, only a few tenths of a percentage point above where it was when the Fed first began raising rates in March 2022. UNCERTAIN PATHTraders have been betting heavily that the Fed will keep its overnight benchmark interest rate steady in the 5.25%-5.50% range for the next several months. "I'm not losing too much sleep" over the market's view "because there's a lot of uncertainty about the future path of policy," Williams said. "I'm not thinking about rate cuts at all right now," Daly said.

Persons: John Williams, Williams, Janet Yellen, I'm, Mary Daly, Daly, Jerome Powell, Christopher Waller, Oscar Munoz, Dan Burns, Michael S, Howard Schneider, David Lawder, Chizu Nomiyama, Paul Simao, Andrea Ricci, Will Dunham Organizations: Federal Reserve, New York Fed Bank, Fed, U.S, Treasury, PATH Traders, San Francisco Fed, Spelman College, Derby, Thomson Locations: U.S, New, Atlanta

☆ The black hole at the center of the Milky Way is spinning so fast, it's squishing space-time down like a football
▼ + stars: | 2023-11-29 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

Scientists found that the black hole at the center of our galaxy is spinning so fast its dragging space-time along. AdvertisementA team of scientists has discovered that the black hole at the center of the Milky Way galaxy is spinning so fast that it's squishing space-time. Advertisement"But if you have a rapidly rotating black hole, the space-time around it is not symmetric," Daly said, according to CNN. "The spinning black hole is dragging all of the space-time around with it … it squishes down the space-time, and it sort of looks like a football." That may sound alarming, but don't worry; the black hole is way too far away to affect us here on Earth.

Persons: —, Chandra, Ruth Daly, We're, Daly Organizations: Service, Royal Astronomical Society, NASA, CNN

☆ Sagittarius A*, our galaxy’s black hole, spins fast and drags space-time with it
▼ + stars: | 2023-11-28 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +5 min

The researchers confirmed that the black hole is spinning, which causes what is known as the Lense-Thirring effect. “But if you have a rapidly rotating black hole, the space-time around it is not symmetric — the spinning black hole is dragging all of the space-time around with it … it squishes down the space-time, and it sort of looks like a football,” she said. Black holes and galactic historyKnowing the mass and the spin of a black hole helps astronomers understand how the black hole might have formed and evolved, Daly said. However, a black hole that was made with accretion of surrounding gas would see a high spin value. “The question of whether our central galactic black hole rotates or not, or how fast it rotates, is quite important,” Stojkovic said in an email.

Persons: NASA’s Chandra, Ruth Daly, Daly, ” Daly, “ We’re, ”, “, Dejan Stojkovic, ” Stojkovic Organizations: CNN, Royal Astronomical Society, Penn State University, University, Buffalo

☆ The USDA's new plant zone map could change how you garden, including when and what you grow
▼ + stars: | 2023-11-21 | by ( Grace Eliza Goodwin | Jenny Mcgrath | ) www.businessinsider.com time to read: +7 min

According to the new map, central Arkansas shifted half a zone up from zone 7b to zone 8a since the USDA last updated its map in 2012. The 2023 USDA map shows warmer zones in central Michigan, as well as shifts in some Northeastern states. AdvertisementLimitations of the USDA's new plant zone map"The map is a guideline, not a guarantee," Foster wrote, and plants can thrive in several zones. AdvertisementIn the Northwestern US, the 2023 USDA map (left) shows some regions of Montana in new, warmer zones. Sections of the South Central US, including Houston, Texas, and New Orleans, Louisiana, have changed to new zones in the 2023 USDA map (left).

Persons: Megan London, NPR she's, Chris Daly, Daly, Jonathan Foster, The University of Maine's Maine, Foster, you'll, US Department of Agriculture Foster, US Department of Agriculture Daly, " Daly Organizations: USDA, Service, NPR, Better Homes, Gardens, Oregon State University, US Department of Agriculture, North Central, The University of Maine's, The University of Maine's Maine Gardner, Southwestern, Northwestern, South Central Locations: Arkansas, Florida, Montana, Central, Michigan, Northeastern, Omaha , Nebraska, Minnesota, Southwestern US, Maine, Houston , Texas, New Orleans , Louisiana

☆ Mead back in England squad for Nations League games
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

Nov 21 (Reuters) - Beth Mead has been recalled to the England squad for the first time in over a year after recovering from an anterior cruciate ligament injury. Manager Sarina Wiegman named her squad for the Lionesses' last two games of the Nations League on Tuesday. Team GB is made up of players from England, Scotland, Wales and Northern Ireland and as the highest ranked British team, England are the nominated nation to qualify on Britain's behalf. This means Scotland may need to lose against England if they are to take part in the Olympics. The Netherlands have a home game with Belgium in their final group game.

Persons: Beth Mead, Sarina Wiegman, Mead, We've, Wiegman, Khiara Keating, Ellie Roebuck, Mary Earps, Hannah Hampton, Millie Bright, Lucy Bronze, Jess Carter, Niamh Charles, Alex Greenwood, Maya Le Tissier, Esme Morgan, Lotte Wubben, Grace Clinton, Fran Kirby, Georgia Stanway, Ella Toone, Keira Walsh, Katie Zelem, Rachel Daly, Lauren Hemp, Lauren James, Chloe Kelly, Alessia Russo, Trevor Stynes, Christian Radnedge Organizations: England, Nations League, Brighton & Hove Albion, Wembley, Team, Scotland, British, Olympics, Manchester City, Thomson Locations: Spain, Arsenal's, England, Netherlands, Belgium, Scotland, Wales, Northern Ireland, Georgia

☆ Rupee likely to inch up on more dollar losses; eyes oil prices
▼ + stars: | 2023-11-20 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session. The dollar index fell 1.8% last week, the worst performance since mid-July. Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said. "And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.

Persons: Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

The U.S. Department of Agriculture’s ” plant hardiness zone map ” was updated Wednesday for the first time in a decade, and it shows the impact that climate change will have on gardens and yards across the country. One key figure on the map is the lowest likely winter temperature in a given region, which is important for determining which plants may survive the season. It's calculated by averaging the lowest winter temperatures of the past 30 years. Winter temperatures and nighttime temperatures are rising faster than daytime and summer temperatures, Primack said, which is why the lowest winter temperature is changing faster than the U.S. temperature overall. “There are a lot of downsides to the warmer winter temperatures, too,” said Theresa Crimmins, who studies climate change and growing seasons at the University of Arizona and was not involved in creating the map.

Persons: Chris Daly, Richard Primack, ” Primack, Primack, ”, Theresa Crimmins Organizations: WASHINGTON, The U.S . Department, Oregon, Agricultural Research Service, Boston University, University of Arizona, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Boston, The, U.S

Speaking on CNBC, Boston Fed President Susan Collins also said the U.S. central bank must be "patient and resolute, and I wouldn't take additional firming off the table." Inflation by the Fed's preferred measure was 3.4% in September, down from its 7.1% peak last summer, but above the central bank's target. And he expressed increased confidence that the Fed can meet its inflation goal without the kind of rise in unemployment seen in the U.S. central bank's prior battles with inflation. Speaking on Thursday, Cleveland Fed President Loretta Mester, one of the central bank's more hawkish policymakers, said she had not yet assessed whether she would continue to pencil in a further rate hike. Fresh economic and interest rate projections are due to be the released at the Dec. 12-13 policy meeting.

Persons: Mary Daly, Daly, Susan Collins, Collins, Austan Goolsbee, Loretta Mester, Ann Saphir, Michael S, Pete Schroeder, Dan Burns, Balazs Koranyi, Paul Simao Organizations: Federal, San Francisco Fed, CNBC, Boston, Deutsche Bank, Chicago Fed, Fed, Cleveland Fed, Derby, Thomson Locations: Frankfurt, Germany, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. The S&P 500 and the Nasdaq rose for the third straight session on Thursday as Treasury yields fell after higher-than-expected weekly jobless claims underscored market expectations that interest rates have peaked. The communication services index (.SPLRCL) led declines among the 11 major S&P 500 sectors, while energy shares (.SPNY) rose 1.1% as oil prices gained. Advancing issues outnumbered decliners by a 2.72-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Michael Barr, Mary Daly, Daly, Thomas Hayes, Russell, Rick Wilmer, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal Reserve, Treasury, Microsoft, Materials, San Francisco Fed, Great, Capital, Dow, Dow Jones, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

☆ Xi revealed the extent of China's economic woes by the speed at which he caved to some of Biden's demands
▼ + stars: | 2023-11-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

China's Xi Jinping and President Joe Biden had their first meeting in a year this week. Xi entered the talks in an unfamiliar position of weakness amid China's economic woes. It was a stark contrast to recent public remarks by the Chinese president, where he sought to blame crises and conflicts across the globe on US meddling. The New York Times noted just how quickly Xi agreed to the demands, with previous US-China deals brokered after days of painstaking diplomatic negotiations. Though Xi is hoping for a short-term decrease in tensions, Chinese economic woes are unlikely to have altered his long-term calculations.

Persons: China's Xi Jinping, Joe Biden, Xi, —, Xi Jinping, Biden, Patricia Kim, Nancy Pelosi's, he'd, Robert Daly, Wilson, Vladimir Putin Organizations: Service, APEC, Center for East Asia Policy Studies, Biden, UAE ., New York Times, Associated Press, Institute, Russian, The New York Times Locations: San Francisco, China, United States, UAE, Taiwan, Beijing, Russia, Ukraine, East, Iran, Gaza, Washington

☆ Morning Bid: Oil slide, Walmart stoke disinflation speculation
▼ + stars: | 2023-11-17 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 17 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Asia has been in a contemplative mood so far on Friday after another week of wild swings in bonds, equities and commodities. The market now implies 98 basis points of cuts next year, compared with 73 basis points a week ago. U.S. data on housing starts for OctBy Wayne Cole; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Wayne Cole, Brent, Christine Lagarde, De Cos, BoE's Greene, Ramsden, Barr, Daly, Collins, Muralikumar Organizations: REUTERS, Walmart, Federal Reserve, Westpac, EU, Thomson Locations: Wayne, Asia, Ukraine, Goolsbee .

REUTERS/Kim Kyung-Hoon Acquire Licensing RightsNov 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Asia Pacific economic data and policy calendar on Friday is very light, with only Malaysian third quarter GDP and current account reports scheduled for release. Ahead of the data the ringgit is trading around 4.6850 per dollar, near last month's 25-year low of 4.79 per dollar. Anyone hoping for market-moving news from the Asia Pacific Economic Cooperation forum in San Francisco will have been disappointed. The gathering of APEC leaders has been cordial and cooperative but, viewed through an economic and market lens, lacking any real substance.

Persons: Kim Kyung, Jamie McGeever, Joe Biden, Xi Jinping, Fed's Barr, Collins, Daly, Josie Kao Organizations: Nikkei, REUTERS, Treasury, Asia, Malaysian, Asia Pacific Economic Cooperation, APEC, CSI, Brent, Thomson, Reuters Locations: Tokyo, Japan, U.S, Asia Pacific, Asia, San Francisco, China, Malaysia

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