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☆ Thai central bank to deliver third straight 25bps hike on Nov. 30
▼ + stars: | 2022-11-28 | by ( Anant Chandak | ) www.reuters.com time to read: +3 min

"Negative real interest rates will continue to favour the Thai economic recovery as it diverges away from an ultra-tight monetary policy elsewhere in the world, most notably in the U.S. and Europe." Despite the wide interest rate gap, the baht has been one of the top performers in emerging market currencies, depreciating only about 7% so far this year. The government wants tourism next year to reach 80% of its pre-pandemic levels, even as global growth is likely to slow. "We expect Thai international tourism arrivals to be resilient to the global economic slowdown, with arrivals showing low sensitivity to global economic activity fluctuations historically," said Chua Han Teng, economist at DBS. Reporting and Polling by Anant Chandak; Editing by Ross Finley and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Canada October producer prices up 2.4% on petroleum products
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Producer prices in Canada rose by 2.4% in October from September on higher prices for refined petroleum energy products, Statistics Canada said on Friday. The depreciating Canadian dollar continued to affect prices. Raw materials prices were up 1.3% in October, and were up 9.0% on the year. "If the CAD-USD exchange rate had remained the same from September to October, the overall IPPI would have increased 1.7% instead of 2.4%," Statscan said. (Reporting by Dale Smith)Our Standards: The Thomson Reuters Trust Principles.

That would surpass the October 2020 peak of 89% in the central bank series dating back to 2006. "It reduces the degree of freedom for the central bank to manage monetary policy," said Ramos. Brazil's central bank has held interest rates at 13.75% since August, after 12 straight hikes that lifted rates from a 2% record low in March 2021. Lula campaigned openly against the constitutional spending cap that limits spending growth to inflation. The proposal also removes some public investments from the cap, opening space for another 23 billion reais in public spending next year.

☆ INDIA STOCKS Indian shares edge down as consumer, tech stocks drag
▼ + stars: | 2022-11-15 | by ( Praveen Paramasivam | ) www.reuters.com time to read: +2 min

[1/2] A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis MascarenhasBENGALURU, Nov 15 (Reuters) - Indian shares gave up opening gains on Tuesday, dragged by consumer and IT stocks, as investors secured profits after a four-week rally, even as data showed annual retail inflation for October eased roughly in line with estimates. Slower rise in food prices helped India's annual retail inflation ease to 6.77% in October, from 7.41% in the previous month, data showed on Monday. More than 1,000 companies reported their quarterly results on Monday as the country's month-long earnings season drew to a close. Globally, investors will get another look at U.S. inflation when the producer price index data is released at 1330 GMT.

☆ INDIA STOCKS Indian shares may edge higher as inflation eases
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 15 (Reuters) - Indian shares are expected to open slightly higher on Tuesday, as data showing annual retail inflation eased to a three-month low in October strengthened bets of smaller interest rate hikes from the country's central bank. Globally, investors will get another look at U.S. inflation when the producer price index data is released later in the day. ** Tyremaker Apollo Tyres (APLO.NS) reported a rise in quarterly profit. ** Biocon (BION.NS) reported a decline in quarterly profit as the drugmaker booked a heavy tax expense. ** Indian viscose and chemicals manufacturer Grasim Industries (GRAS.NS) reported a fall in quarterly profit, with brokerage Jefferies saying global slowdown weighed on earnings.

☆ Sri Lanka budget to seek recovery for crisis-hit economy
▼ + stars: | 2022-11-14 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

President Ranil Wickremesinghe's first full-year budget to parliament will include measures aimed at helping Sri Lanka restructure its debt, increase revenues and trim spending as it works on the bailout with the International Monetary Fund, analysts say. "This is a budget that is being presented at a time Sri Lanka is facing an unprecedented crisis," said State Minister for Finance Ranjith Siyambalapitiya. The World Bank estimates Sri Lanka's economy will contract by 9.2% this year and 4.2% in 2023. Unable to pay for critical imports, Sri Lanka struggled to buy essentials such as fuel, and the public faced soaring inflation, a rapidly depreciating currency and sharply shrinking growth. Spending cuts will likely to be tricky, given Sri Lanka's large public workforce and high debt.

And that was despite recording its worst day since the global financial crisis the day before. Hong Kong tech stocks might have bounced 3%, but they've still lost 45% in just four months. It is depreciating fast as capital outflows accelerate - the onshore yuan is at its weakest since 2009 and the offshore yuan is the lowest ever since its 2010 launch. chartchartAll that said, perhaps the bouyant sentiment across U.S. markets will filter through to China and Asia on Wednesday. It was 'Turnaround Tuesday' for Treasuries - especially the long end - while Wall Street posted another solid rally.

☆ Sterling dips after Truss resigns, fragile yen weakens past 150 level
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates. The euro fell 0.15% to $0.97725, after tracking the move in sterling to an overnight high of $0.98455. Meanwhile, the yen last bought 150.20 per dollar, after hitting a fresh 32-year low of 150.29 overnight. U.S. Treasury yields extended their climb overnight, with the two-year Treasury yield hitting a 15-year high of 4.623%, while the benchmark 10-year Treasury yield peaked at 4.243%, its highest level since June 2008.

☆ Analysis: The UK just stepped back from the brink. But there's more trouble ahead
▼ + stars: | 2022-10-18 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

The sudden reversal of almost all tax cuts announced just three weeks ago could put financial markets on more stable footing. Yields on 30-year UK government bonds, which move opposite prices, have dipped to 4.34% after topping 5% last week. But concerns about the economy are resurfacing in lieu of angst about the country’s financial markets — though on that front, too, uncertainty remains. The specter of additional volatility in financial markets still lingers. And restoring investor confidence in UK assets will be an effort that takes time — especially as questions about Truss’ political future swirl.

☆ The yen may be weak, but Japan's tourism isn't expected to get a 'bona fide' rebound without Chinese visitors
▼ + stars: | 2022-10-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

After more than two years of strict Covid-19 border controls, Japan reinstated visa-free travel to 68 countries on Tuesday. After more than two years of strict Covid border controls, Japan reinstated visa-free travel to 68 countries on Tuesday. With the easing of restrictions and the depreciating yen, tourism to the country will return quickly — especially from Asia, said Jesper Koll, director of financial services firm Monex Group told CNBC. "The cheapness of the yen obviously increases the probability of tourism contributing greatly to the economy," Koll said. "As the restrictions get rolled back further, and the capacity of inbound flights open up, I expect that we will see inbound spending and inbound tourism accelerate very, very quickly."

☆ Asian economies may have to brace for rising debt and capital flight, IMF warns
▼ + stars: | 2022-10-13 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

watch nowAsia's biggest economic challenges will be rising debt and capital flight as interest rates continue to rise, the International Monetary Fund has warned. The warnings come as the IMF trimmed its global growth predictions in its latest economic outlook this week and warned the new year would feel like a recession for many parts of the world. "Debt has gone up in Asia," IMF Deputy Director of Asia and Pacific Department Anne-Marie Gulde told CNBC's "Squawk Box Asia" on Wednesday. "First, private sector debt has gone up since the global financial crisis but afterwards since Covid, public sector debt has gone up. The crisis in the U.K stemmed from rising yields and plunging bond prices, which sparked collateral calls for pension funds to cover their LDI-related derivatives.

I know I'll need passive income to support myself if I want to retire early. I asked financial planners who work with millionaires which passive income streams are most lucrative. That's why financial planner Darren Colananni says it's one of the most common passive income streams among millionaires. "You can get a tax deduction on the rental income by depreciating the property," which means deducting the cost of buying or improving a rental property, says Colananni. Social Security, collected strategicallyA passive income stream that most American workers get when they retire, Social Security, is one that millionaires also bank on, according to financial planner Scott Sturgeon.

☆ Billionaire investor Ray Dalio warns the US faces a 'perfect storm' of problems - and predicts more pain for markets and the economy
▼ + stars: | 2022-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The US faces a "perfect storm" of debt, political strife, and an overseas war, Ray Dalio said. Dalio warned the Fed will have to hurt markets and the economy to conquer stubborn inflation. Dalio complained that "ridiculously stupid" interest rates and a flood of cheap money have inflated US asset prices and overstimulated the economy in recent years. "They will raise interest rates to the point that there's enough economic pain and financial market pain to deal with that," he said. Dalio, the founder of Bridgewater Associates, recently stepped down as the hedge fund's co-chief investor, and now serves as a mentor to its bosses.

☆ Factbox: Strained emerging economies in focus at the IMF World Bank meeting
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

On Friday, the IMF said its executive board approved Kyiv's request for $1.3 billion in emergency funding through a Rapid Financing Instrument. This is on top of $1.4 billion the IMF has provided to Ukraine since the start of the war. Former central bank governor Kyrylo Shevchenko said in July that Kyiv hoped for a $15-$20 billion IMF programme before year-end. On Friday, IMF staff said talks with Ghana's government about a potential loan programme had been constructive but more work was needed on a debt-sustainability analysis. EGYPTA major grain importer that depends heavily on tourism revenue, Egypt has experienced a double whammy from COVID-19 and soaring food prices with no current IMF programme in place.

☆ China's yuan unlikely to continue rapid depreciation -state media
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Sept 29 (Reuters) - China's yuan is unlikely to continue depreciating rapidly, the state-owned Securities Times said in a front-page commentary on Thursday, as currencies continue to be pressured by a U.S. dollar boosted by hawkish Federal Reserve monetary tightening. Prudent balance of payments has lent support and led somewhat "restrained" losses in the yuan compared with peers, the newspaper said. Register now for FREE unlimited access to Reuters.com RegisterMarket participants usually view such state media commentary as indicative of authorities growing uncomfortable with rapid currency movement. The People's Bank of China on Wednesday said stabilising the yuan is a top priority and warned market participants against making heavy one-way bets on the currency. Register now for FREE unlimited access to Reuters.com RegisterReporting by Winni Zhou and Brenda Goh; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ RBI may need to reload reserves as Indian rupee falls further, HDFC Bank economist says
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/MUMBAI, Sept 27 (Reuters) - The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee, HDFC Bank Chief Economist Abheek Barua said. read more"The central bank should intervene to ensure that a falling currency does not eclipse India's fundamentals," Barua wrote in a note this week. According to Barua, the central bank may need to think of ways to bulk up its forex reserves, should the pool shrink to near $500 billion in the coming months. "More capital is needed at this stage to stabilise the rupee and enable the RBI to replenish its reserves chest," he said.

"With the United States raising interest rates, emerging economies have little choice but to hike rates to avoid their currencies from depreciating too much," he said. Asakawa said many Asian emerging economies have sufficient buffers, such as ample current account surpluses and foreign reserves, to weather another crisis. "Some emerging Asian countries could intervene to prevent their currencies from depreciating. Countries like Malaysia put in place capital controls during the Asian financial crisis," Asakawa said. Asian policymakers must also prepare for when volatile market moves destabilise regional economies, he added.

☆ Some Gen Zers are hoping for a housing market crash so they can afford to buy a home
▼ + stars: | 2022-09-14 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

According to their results, 78% of respondents think we'll soon face a housing market crash and nearly half believe it will happen in 2023. Indeed, 84% of the survey's respondents born between 1996 and 2015 said they wanted a market crash. "Gen Z was the generation most likely to want a housing crash or correction so they could buy a home," researchers wrote. "Despite their hopes for a cooler market, Gen Zers have the least saved for a home." Do you feel a housing crash — or a less dramatic slowdown — would make it easier for you to buy a house?

☆ ‘Bubblicious’ used car prices are rising faster than bitcoin, market researcher Jim Bianco warns
▼ + stars: | 2021-12-26 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Used auto prices are rising faster than bitcoin and other assets, according to market researcher Jim Bianco. He's building his analysis based on the Manheim index of used car prices, which is designed to track pricing trends in the market. Bianco cites two bullish drivers in the used car market. "Used car prices are supposed to be a depreciating asset. As for a peak in auto prices, Bianco suggests it's anyone's guess.

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