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Oct 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The rebound in risk sentiment was largely due to comments from two Fed officials that the recent rise in long-term bond yields and tightening of financial conditions mean the Fed may be done raising rates. The U.S. bond market was closed on Monday for the Columbus Day holiday but futures traded, and the 10-year Treasury future posted its biggest rise since March. The IMF and World Bank annual meetings in Morocco kick into gear on Tuesday, with U.S. Treasury Secretary Janet Yellen, European Central Bank president Christine Lagarde and many other leading global policymakers in attendance. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Lori Logan, Philip Jefferson nodded, Janet Yellen, Christine Lagarde, Raphael Bostic, Christopher Waller, Neel Kashkari, Mary Daly, Lorie Logan, Philip Jefferson, Waller, Daly Organizations: Dallas, Columbus, Treasury, IMF, World Bank, U.S, European Central Bank, Fed, Bank, Thomson, Reuters Locations: Israel, Gaza, U.S, Lower U.S, Asia, Japan, Pacific, Philippines, Morocco, Marrakech, Kashkari

"If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the fed funds rate," Logan said. The Dallas Fed president said the economy has been stronger than she had expected, as has been the labor market, and that inflation was still too high despite progress in lowering it. But because Logan ran the New York Fed's bond portfolio for years before she took the top job at the Dallas Fed, her views on what's driving long-term rates higher could carry considerable weight as policymakers weigh their next moves. "The expectation of lower Federal Reserve asset holdings over time implies that other investors will need to hold more long-duration securities, which appears to be one factor among the many contributing to higher term premiums," Logan said. Figuring out how much of the higher long-term rates is due to higher term premiums is complex, she added.

Persons: Lorie Logan, Ann Saphir, Logan, Mary Daly, Julia Coronado, Lorie, she's, Krishna Guha, Guha, Paul Simao Organizations: Federal Reserve Bank, Dallas, Kansas City, REUTERS, Rights, Treasury, Federal Reserve, National Association for Business Economics, Market, San Francisco Fed, Evercore ISI, Dallas Fed, Fed, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S, York

☆ The Fed is at odds with itself. That’s a feature, not a bug
▼ + stars: | 2023-10-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

So, Fed officials are divided, but it doesn’t really matter. Fed officials are still people, and as the saying goes, opinions are like bellybuttons in that everyone’s got one. Fed officials in that committee with voting power have the option to dissent, but it’s only happened twice this cycle. This year’s voters, which are Dallas Fed President Lorie Logan, Chicago Fed President Austan Goolsbee, Philadelphia Fed President Patrick Harker, and Minneapolis Fed President Neel Kashkari, will be rotated out next year. Up NextMonday: Fed officials Lorie Logan, Michael Barr and Phillip Jefferson deliver remarks.

Persons: Mary Daly, Michelle Bowman, ”, Biden, That’s, Michael Feroli, everyone’s, “ It’s, ” Feroli, Esther George, Ed Al, Hussainy, JPMorgan’s Feroli, It’s, Jerome Powell, John Williams, Lorie Logan, Austan Goolsbee, Patrick Harker, Neel Kashkari, Logan, Kashkari, Raphael Bostic, San Francisco Fed’s Daly, – CNN’s Elisabeth Buchwald, Michael Barr, Phillip Jefferson, Christopher Waller Organizations: CNN Business, Bell, CNN, Federal, San Francisco Fed, JPMorgan, Fed, Market Committee, Kansas City, Columbia Threadneedle Investments, Governors, New York Fed, Dallas Fed, Chicago Fed, Philadelphia Fed, Minneapolis Fed, San Francisco, Treasury, PepsiCo, The National Federation of Independent Business, US Labor Department, Federal Reserve, Delta, China’s National Bureau of Statistics, The University of Michigan Locations: San, Kansas, Columbia, Cleveland, Richmond, Atlanta, San Francisco, Walgreens

☆ Wall Street's dream scenario is dead
▼ + stars: | 2023-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

Wall Street's vision of a Goldilocks scenario for the stock market and economy is unraveling. AdvertisementAdvertisementWall Street's dream of a Goldilocks scenario for the stock market and economy is probably dead. Interest rates soared. As painful as inflation and higher interest rates were, the economy remained resilient as consumers held onto their jobs and kept swiping their credit cards. It has to acknowledge that interest rates are now sufficiently restrictive, and decide that it's next monetary policy move isn't an interest rate hike, but rather a pause, and then a cut.

Persons: —, it's, Jerome Powell, Powell's, Powell, Buckle, Greg Daco, Something's, Kevin O'Leary, we've, Wharton, Jeremy Siegel, Mary Daly, Raphael Bostic Organizations: Service, Treasury, Valley Bank, Bloomberg, CNBC Locations: America

The September jobs report that the Labor Department will issue Friday will show just how much of that durability remains. A growing body of evidence, though, suggests that the job market is cooling — something Fed officials would like to see. Businesses often raise their prices to cover their higher labor costs. Fewer Americans are quitting their jobs after a surge in resignations in the aftermath of the pandemic. Most people quit to take other jobs with higher pay, so the decline in quitting indicates that workers now see fewer available opportunities elsewhere.

Persons: Jerome Powell, Mary Daly, ” Daly, Goldman Sachs Organizations: WASHINGTON, Federal Reserve, Labor Department, Institute for Supply Management, Federal Reserve Bank of San, Economic, of New Locations: United States, Federal Reserve Bank of San Francisco, of New York

☆ Wall Street will seek confirmation inflation is easing in the week ahead after Friday's jobs report
▼ + stars: | 2023-10-06 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A soft inflation reading in the week ahead after Friday's jobs report could be the signal stocks need to turn around after their recent carnage from rising bond yields. Some market participants are hopeful stocks can start to rebound from their recent lows if next week's inflation reports confirm price pressures easing. The producer price index comes out Wednesday, while the consumer price index is due out Thursday. The September consumer price index that's due out Thursday is expected to show easing inflation. Export Price Index (September) 10 a.m. Michigan Sentiment preliminary (October) Earnings: BlackRock , UnitedHealth Group , The PNC Financial Services Group , JPMorgan Chase , W ells Fargo , Citigroup

Persons: Stocks, Jim Lebenthal, Lebenthal, Dow Jones, it's, Mary Daly, we'll, Hogan, Wells, BlackRock, Price, JPMorgan Chase Organizations: Federal Reserve, Dow Jones Industrial, Cerity Partners, CPI, PPI, Treasury, Dow, San Francisco Fed, Riley, JPMorgan Chase, Citigroup, UnitedHealth, PepsiCo, Treasury Budget, Delta Air Lines, Walgreens, Alliance, Price, UnitedHealth Group, PNC Financial Services Group, JPMorgan Locations: U.S, Wells Fargo, Michigan

☆ Bond rout won't end Fed balance sheet cuts, but endgame bubbling into view
▼ + stars: | 2023-10-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +5 min

Since June 2022, the Fed has allowed more than $1 trillion of bonds to mature from its portfolio, including roughly $840 billion of Treasuries. QT drains liquidity from the banking system, reducing bank reserves parked at the Fed and cash stashed in its reverse repo facility. Others believe money market rates will start to move up in ways suggesting the system is short of cash. A New York Fed report in April projected an end to QT around the middle of 2025. A survey of major banks by the New York Fed released in August eyed an end to QT in mid-2024.

Persons: it's, ”, Kathy Bostjancic, Bostjancic, Goldman Sachs, Loretta Mester, “, Austan Goolsbee, Mary Daly, Michael Barr, Michael Cloherty, Mark Cabana, ” Cabana, Cabana, Michael S, Ann Saphir, Dan Burns, Andrea Ricci Organizations: Goldman Sachs, Federal Reserve, Silicon Valley Bank, Fed, Treasury, Reuters Graphics Reuters, Cleveland Fed, Bloomberg, Chicago Fed, San Francisco Fed, UBS, Bank Policy Institute, New York Fed, Bank of America, Daily, Derby, Thomson Locations: Silicon, Washington

☆ Morning Bid: Oil soothes but jobs dictate
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +5 min

U.S. crude oil has recoiled almost 9% this week and prices have lost almost 14% peak-to-trough since last Thursday's high above $95 per barrel. The year-on-year oil price is now falling again and tracking losses of 5%. Copper prices fell to their lowest of the year on Thursday and core commodity indexes are back at August levels. All of which sees U.S. bond yields retain an uneasy calm into the jobs numbers. Implied rates from Fed futures markets pulled back the chances of another hike in the cycle to less than 50%.

Persons: Andrew Kelly, Mike Dolan, Mary Daly, Kevin McCarthy, Donald Trump, Jim Jordan, Janet Yellen's, Christopher Waller, Toby Chopra Organizations: REUTERS, ADP, San Francisco Fed, Treasury, St, International Monetary Fund, World Bank, Tesla, Exxon Mobil, Natural Resources, Federal Reserve, Challenger, Thomson, Reuters Locations: Manhattan , New York City, U.S, Morocco, Canada

Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.

Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Morning Bid: Nervy bond bounce on soft jobs and oil
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +5 min

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Although both oil and bond yields calmed somewhat overnight, U.S. crude plunged by more than $5 per barrel on Wednesday. The tentative bond bid and shifting interest rate picture stopped the rot in stock markets too, with Wall St stocks rallying on Wednesday and the Nasdaq (.IXIC) staging its biggest daily gain since August. But in a sign of the nervousness, European stock markets stalled again and Wall St futures were back in the red. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Kevin McCarthy, Michael Barr, Mary Daly, Thomas Barkin, Loretta Mester, Lamb Weston, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Nasdaq, Wall, Metro Bank, U.S, Federal, San Francisco Fed, Richmond Fed, Cleveland Fed, Treasury, Brands, Constellation Brands, Reuters, Thomson Locations: New York City, U.S, Wall, York

We're buying 75 shares of Oracle (ORCL) at roughly $107.96 each. Following Thursday's trade, Jim Cramer's Charitable Trust will own 650 shares of ORCL, increasing its weighting to 2.54% from 2.26%. That's why we are buying more Oracle — bulking up our position size into the stock's recent weakness. Oracle stock pulled back in September after the company missed on quarterly revenue estimates and provided an outlook that failed to live up to lofty expectations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Mary Daly, Daly, Safra Catz, Catz, Jim Cramer, Jim, Spencer Platt Organizations: Oracle, ORCL, San Francisco Fed, Treasury, CNBC, New York Stock Exchange, Getty Locations: Manhattan, New York City

☆ San Francisco Fed President Mary Daly: The need for further Fed tightening has diminished
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSan Francisco Fed President Mary Daly: The need for further Fed tightening has diminishedCNBC's Steve Liesman joins 'Halftime Report' to discuss the latest statement from San Francisco Fed President Mary Daly covering monetary policy and the status of inflation.

Persons: Mary Daly, Steve Liesman Organizations: San, Fed, San Francisco Fed

☆ Wall St ends down slightly; investors await Friday's payrolls
▼ + stars: | 2023-10-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Friday's monthly payrolls report could be the week's most important economic news, however, investors remained concerned about whether the Federal Reserve will keep rates higher for longer. Stocks ended well off their weakest levels of the session, and strategists noted the S&P 500 was holding above its 200-day moving average, currently at around 4,206. After recent market weakness, investors are keen for third-quarter earnings reports to kick off mid-month. S&P 500 company earnings overall are expected to have risen 1.6% year-over-year for the quarter, according to LSEG IBES data. The S&P 500 posted three new 52-week highs and 39 new lows; the Nasdaq Composite recorded 24 new highs and 330 new lows.

Persons: Stocks, Mary Daly, Peter Cardillo, Brendan McDermid, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta, David Gregorio Our Organizations: Companies, Dow, Nasdaq, Federal Reserve, Benchmark U.S, Treasury, Spartan Capital Securities, San Francisco Fed Bank, Economic, of New, New York Stock Exchange, REUTERS, Dow Jones, Dell Technologies, NYSE, Thomson Locations: New York, of New York, U.S, New York City, Bengaluru

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Even as longer-dated Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities. The Labor Department's report showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-resilient labor market conditions. Following a mixed jobs reports earlier this week, focus will be on the more comprehensive September non-farm payrolls data on Friday. Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and a 1.22-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Charles, Henry Monchau, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Lamb, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, U.S, Treasury, Syz Group, Healthcare, Labor, Dow Jones, Traders, Federal, Democratic, Rivian, EV, Dell Technologies, Lamb Weston Holdings, NYSE, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Americans support strikes — until they affect their daily lives
▼ + stars: | 2023-10-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

The public will continue to support them – that is until the strikes begin to affect Americans’ daily lives. CNN reached out to the Justice Department for comment but has not received a response. The US Labor Department releases August figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of worker filings for jobless benefits in the week ended September 30. The US Labor Department releases September data on the state of the job market, including payroll gains, wage growth and the unemployment rate.

Persons: –, ” Andrew Flowers, “, Eva Rothenberg, Suisse’s, Jerome Powell, Patrick Harker, Michael Barr, John Williams, Loretta Mester, Raphael Bostic, Michelle Bowman, Levi Strauss, Tom Barkin, Mary Daly Organizations: CNN Business, Bell, DC CNN —, Gallup, Guild of America, Teamsters, Reno, United Auto Workers, UAW, Toyota, Honda, CNN, Nationwide, UBS, DOJ, US Department of Justice, Credit Suisse, “ UBS, CS, Bloomberg, Justice Department, P Global, Institute for Supply Management, McCormick, US Labor Department, Atlanta Fed, Constellation Brands, Conagra, Co, US Commerce Department, Carnival Corp Locations: Washington, United States, Hollywood, Las Vegas, Germany, Russia

"I expect rates may have to stay higher, and for longer, than previous projections had suggested," said Collins. San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari are scheduled to make remarks later on Friday as the Fed's "blackout" period on post-meeting policy comments lifted. The central bank's decision to hold its benchmark overnight interest rate steady this week was unanimous. Collins does not currently have a vote on rate policy under a Fed system that rotates votes among the 12 reserve bank presidents year by year. New projections issued at the end of a two-day policy meeting on Wednesday showed 12 of 19 Fed officials expect one additional quarter point rate increase this year.

Persons: Dado Ruvic, Michelle Bowman, Susan Collins, Collins, Mary Daly, Neel Kashkari, Bowman, Howard Schneider, Paul Simao, Andrea Ricci Organizations: REUTERS, Rights, . Federal, Independent Community Bankers of, Maine Bankers Association, Boston, Fed, San Francisco Fed, Minneapolis Fed, Thomson Locations: Independent Community Bankers of Colorado

☆ Stocks stall, yields climb on "higher for longer" rate worries
▼ + stars: | 2023-09-22 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

U.S. stock futures , , were slightly firmer ahead of the opening bell on Wall Street, signalling a pause after sharp losses on Thursday amid uncertainty over interest rates going into 2024. Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.508%, later trading at 4.48%, while 30-year yields hit their highest in a dozen years. The Fed revised downwards its unemployment rate forecast for next year, and if the U.S. economic data continued to improve, it would put "upside risk" on interest rates, making the need for a soft landing all the greater, Osman added. Ten-year Japanese government bond futures rallied though cash yields were little changed and near decade highs at 0.745%. Gold firmed 0.3% to $1,925 an ounce despite pressure from the stronger dollar and bond yields.

Persons: what's, Eren Osman, Arbuthnot Latham, Osman, Mary Daly, Neel Kashkari, Susan Collins, Lisa Cook, Craig Ebert, Huw Jones, Tom Westbrook, Edmund Klamann, Kim Coghill, Rashmi Organizations: Bank of Japan, Global, Nasdaq, Treasury, ING, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: Europe, U.S, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

☆ Morning Bid: Edgy market calm after worst day of 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. World stocks captured by MSCI's all-country index (.MIWD0000PUS) recorded their worst day of the year so far - dropping 1.69%. The yen fell back again but the dollar/yen rate remained below Thursday's 2023 high of 148.45. The pound hit its lowest level since March and 10-year British gilt yields fell to their lowest level since July. Elsewhere, oil prices nudged higher again on Friday as concerns that a Russian ban on fuel exports could tighten global.

Persons: Sarah Silbiger, Mike Dolan Punch, Rupert Murdoch, Lisa Cook, Susan Collins, Neel Kashkari, Mary Daly Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Bank of Japan, Fed, European Central Bank and Bank of England, Treasury, Sterling, of, Activision Blizzard, Markets Authority, Ubisoft, Cisco Systems, Cisco, Fox Corp, News Corp, JPMorgan, Federal Reserve, Boston, Minneapolis Fed, San Francisco Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: Washington ,, U.S, Australia, Britain, United States, India

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Consumer Price Index reading for August is due on Sept. 13, while the Federal Reserve's policy decision is scheduled for Sept. 20. New York Fed President John Williams kept his options open over future interest rate policy and Dallas Fed President Lorie Logan said while it "could be appropriate" to skip a rate hike in the upcoming meeting, more policy tightening might be needed. DocuSign (DOCU.O) added 3.1% as the e-Signature product provider beat second-quarter results estimates and raised its annual revenue forecast. GameStop (GME.N) fell 2.3% on a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Persons: Brendan McDermid, Mark Haefele, Morgan Stanley, John Williams, Lorie Logan, Mary Daly, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Mizuho, Dow, Nasdaq, Federal, UBS Global Wealth Management, Traders, FedWatch, Apple, Wall, Dow e, . New York Fed, Dallas Fed, San Francisco Federal Reserve Bank, GameStop, U.S . Securities, Exchange Commission, Thomson Locations: New York City, U.S, Beijing, China, Bengaluru

☆ Morning Bid: Markets find feet after Apple topples
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +4 min

People walk near an Apple logo outside its store in Shanghai, China September 8, 2023. The stock appeared to stabilize in out-of-hours trade on Friday and Morgan Stanley analysts claimed China's iPhone bans would at most hit Apple revenues by about 4%. The upshot was the rates market calmed a bit - with the odds on another Fed hike in the cycle falling back below 50% despite the red hot jobless claims readout. That helped Treasury yields <US10YT+RR> fall back too, aided by the stock market wobble and an oil price coming off the boil. The stock exchange there halted trading in both securities and derivatives markets due to a black rainstorm warning.

Persons: Aly, Mike Dolan, Apple sideswipe, Morgan Stanley, We've, John Williams, Austan Goolsbee, Lorie Logan, Michael Barr, Mary Daly, Andrew Cawthorne Organizations: Apple, REUTERS, Federal, Huawei, New, Fed, Chicago Fed, Dallas Fed, San Francisco Fed, Kroger Reuters Graphics Reuters, Reuters, Thomson Locations: Shanghai, China, U.S, India, Asia, Hong Kong, United States, New Delhi

☆ Key San Francisco Fed official who oversaw supervision of SVB will retire
▼ + stars: | 2023-08-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Azher Abbasi, head of supervision at the Federal Reserve Bank of San Francisco — and a key official with direct oversight over failed Silicon Valley Bank — will retire at the end of October, the regional reserve bank announced this week. Abbasi and Mary Daly, president of the San Francisco Fed, came under scrutiny after a post-mortem report undertaken by the Federal Reserve found problems with how SVB was supervised. The San Francisco Fed declined to share additional details with CNN about Abbasi’s departure. Outside of the report, there have been concerns about potential conflicts of interest regarding Greg Becker, the former CEO of SVB, serving as a director on the San Francisco Fed board, potentially having a say over how SVB was supervised. Willardson previously worked at the Minneapolis Fed in a variety of positions from 1990 to 2022, including as senior vice president for supervision, regulation and credit for eight years.

Persons: New York CNN — Azher Abbasi, Federal Reserve Bank of San Francisco —, Abbasi, Mary Daly, SVB, San Francisco Fed, Greg Becker, Niel Willardson, Willardson Organizations: New, New York CNN, Federal Reserve Bank of San, San Francisco, Federal Reserve, Fed, CNN, San Francisco Fed, Minneapolis Fed, Deposit Insurance Corporation Locations: New York, Federal Reserve Bank of San Francisco, San Francisco Fed, midsized

☆ Stocks fall, yields rise after hotter than expected inflation reading
▼ + stars: | 2023-08-11 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

The U.S. producer price index (PPI) for final demand rose 0.3% in July, according to the Labor Department. And in the 12 months through July, the PPI rose 0.8% against estimates for a 0.7% advance. On Thursday, Wall Street's main indexes had finished flat, giving up most early gains on milder-than-feared consumer price inflation data. In currencies, the dollar index rose 0.107%, with the euro down 0.18% to $1.0959. On the U.S. Treasuries side, yields rose after the hotter than expected PPI.

Persons: Brendan McDermid, Paul Christopher, Christopher, Mary Daly, Sterling, Brent, Sinéad Carew, Elizabeth Howcroft, John Stonestreet, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Treasury, Reserve, Labor Department, PPI, Wells, Wells Fargo Investment Institute, Dow Jones, Nasdaq, San Francisco Federal Reserve Bank, Britain, International Energy Agency, Thomson Locations: New York City, U.S, Wells Fargo, St Louis, Asia, Pacific, Japan, London

Asian stocks fell to a one-month low and European indexes were in the red, with the STOXX 600 down 0.8% at 1125 GMT (.STOXX). "We’re still getting a mixed message from the inflation numbers," said Ben Laidler, global markets strategist at eToro. The pound was up 0.4% at $1.2725 , after GDP data showed Britain eked out some unexpected growth in the second quarter, helped by a strong June performance. But it remains the only large advanced economy that has not yet regained its pre-COVID late-2019 level, data showed on Friday. Investors will be watching for UK inflation data next Wednesday.

Persons: DAX, Mary Daly, We’re, Ben Laidler, eToro's Laidler, Brent, Elizabeth Howcroft, John Stonestreet, Susan Fenton Organizations: Credit Suisse, Wall, San Francisco Federal Reserve Bank, Investors, Nasdaq, HK, Britain, West Texas, International Energy Agency, Thomson Locations: Silicon, China, Australia, Japan

☆ Dollar set for fourth week of gains, inflation cements rate outlook
▼ + 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. The pound was last up 0.3% at $1.2711, but was still heading for a fourth weekly drop. Data on Thursday showed U.S. consumer inflation rose 0.2% last month, matching the gain in June, and by 3.2% in the 12 months through July. The dollar index , which measures the U.S. currency against six others, fell 0.1% to 102.50, but was still set for a fourth weekly gain, thanks in part to a rise in Treasury yields. The dollar fell against the euro , which rose 0.1% to $1.0995 and against the Australian dollar , which rose 0.14% to $0652.

Persons: Florence Lo, Moh Siong Sim, Nick Rees, Mary Daly, Ankur Banerjee, Shri Navaratnam, Simon Cameron, Moore, David Evans Organizations: U.S, REUTERS, Federal, Bank of Japan, Singapore, Ministry of Finance, Reuters, CPI, FX, Monex, San Francisco Fed, Thomson Locations: Japan, Monex Europe, U.S, Singapore

☆ Asia stocks drop to month low as US CPI fails to enthuse
▼ + stars: | 2023-08-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The yen touched a six-week low of 144.89 per dollar in early trade, though volumes were thinned owing to a public holiday in Japan. Its stock markets were closed and Treasuries went untraded in the Asia session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7% with stocks in Hong Kong and China the biggest drag. Headline U.S. CPI was 0.2% last month, the same as a month earlier, and the details were encouraging - with core goods inflation slowing down and only rents proving stubbornly sticky. DOLLAR GAINSIn foreign exchange markets, choppy trade in the wake of the inflation data left the dollar on course for a weekly gain.

Persons: Issei Kato, Treasuries, Mary Daly, Andrew Lilley, Philip Lowe, Nozomu Ogawa, Sally Auld, JB, There's, HSI, Tom Westbrook, Muralikumar Anantharaman Organizations: REUTERS, SYDNEY, Headline U.S, CPI, San Francisco Fed, Yahoo Finance, Daiwa, Markets, HK, Chevron, Brent, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Hong Kong, China, Sydney, New York, Australia

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