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☆ Morning Bid: Shutdown, oil, auctions and China rankle
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +5 min

Even before U.S. markets kick off on Monday, China's ongoing property bust threw another curve ball at stocks markets there. Country Garden (2007.HK) fell more than 7% as investors nervously watch out for its latest dollar bond coupon payment on Wednesday. Fed aside, there were multiple domestic issues to trouble the horizon - not least a government shutdown next weekend. U.S. 10-year Treasury yields nudged back close to 16-year highs above 4.5% set last week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Kevin Wurm, Mike Dolan, China Evergrande, Charles Wang Zhonghe, Kevin McCarthy, Morgan Stanley, Neel Kashkari, Christine Lagarde, Isabel Schnabel, Bernadette Baum Organizations: U.S, Capitol, REUTERS, HK, hawkish U.S, Federal, Republicans, Treasury, Dallas Fed, Chicago Fed, Minneapolis Federal, European Central Bank, ECB, Reuters Graphics, Thomson, Reuters Locations: Washington , U.S, U.S, Wall St, China, HK, hawkish, St, Washington, ., California

☆ Defeating inflation without high unemployment is still unlikely
▼ + stars: | 2023-09-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

And the US economy’s surprising resilience, despite 11 rate hikes, has raised hopes of a soft landing becoming a reality. “I’ve always thought that the soft landing was a plausible outcome, that there was a path to a soft landing,” he said. But historical records show that a soft landing has only occurred once in the 1990s, or perhaps even a handful of times. The US Commerce Department releases its final estimate of second-quarter gross domestic product. The US Commerce Department releases August data on household income, spending, and the Fed’s preferred inflation gauge.

Persons: it’s, Jerome Powell, Powell, “ I’ve, ”, “, Powell’s, ” “ Jerome Powell, ” Quincy Krosby, Krosby, ” Krosby, Matt Egan, ” Neil Bradley, “ We’ve, Read, Christine Lagarde, Michelle Bowman, Austan Goolsbee, Lisa Cook, John Williams Organizations: CNN Business, Bell, DC CNN, Fed, LPL, CNN, Corporate, US Chamber of Commerce, European Central Bank, Costco, Global, Board, Survey, US Commerce Department, Micron, Nike, US Labor Department, National Association of Realtors, Carnival Corp, University of Michigan, New York Fed, China’s National Bureau of Statistics Locations: Washington

☆ Frozen Russian assets should be taxed to fund Ukraine's rebuild, Treasury Secretary Janet Yellen says
▼ + stars: | 2023-09-22 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Janet Yellen signaled her support for a plan to tax profits made on frozen Russian assets this week, according to Bloomberg. Any money made would be used to help fund the reconstruction of Ukraine. The trading bloc's leaders want to levy any profits made on state-backed investments, and then use the money raised to help fund the rebuild of Ukraine. "This seems like a reasonable proposal," Yellen told the outlet. The money raised could be use to help fund the reconstruction of Ukraine.

Persons: Janet Yellen, ”, Yellen, Christine Lagarde Organizations: Bloomberg, Service, European Union, EU, Bank of Russia, European Commission, World Bank, United Nations, European Central Bank Locations: Ukraine, Wall, Silicon, Kremlin, Moscow's, France, Germany

☆ Global central banks unite in "higher for longer" credo
▼ + stars: | 2023-09-21 | by ( Mark John | ) www.reuters.com time to read: +6 min

The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.

Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara

☆ Morning Bid: Fed leaves shoe dangling in policy parade
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +5 min

At least eight major central banks are meeting on Thursday. Central banks in South Africa and Turkey are also meeting. Futures now show the implied Fed policy rate for the end of next year at a new cycle high of 4.85% - up a whopping 35 basis points in just over a week. Key developments that should provide more direction to U.S. markets later on Thursday:* Bank of England policy decision; South Africa Reserve Bank policy decision, Central Bank of Turkey policy decision. European Central Bank President Christine Lagarde speaks* Philadelphia Fed's September business survey, U.S. weekly jobless claims, U.S. Aug existing home sales, U.S. Q2 current account estimate.

Persons: Sarah Silbiger, Mike Dolan, Jerome Powell, Goldman Sachs, Goldman, Jan Hatzius, Robin Brooks, Brooks, BoE, Christine Lagarde, Darden, Christina Fincher Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Swiss National Bank, Bank of, Fed, for International Finance, Treasury, Swiss, Africa Reserve Bank, Central Bank of, European Central Bank, Factset, Reuters, Thomson Locations: Washington ,, U.S, Norwegian, Bank of England, South Africa, Turkey, Central Bank of Turkey, Philadelphia

The new German central bank (Bundesbank) vice-president Claudia Buch poses during a photocall at the Bundesbank headquarters in Frankfurt, May 20, 2014. Buch, who has been the vice-president of Germany's central bank for 10 years after a career in academia, was chosen last week over Spain's Margarita Delgado, the European Parliament's preferred candidate. The EU Parliament will have a final say on the appointment on Wednesday at a vote scheduled for 1400 GMT. At the hearing, Buch said she would immediately resign from her role as an alternate if appointed as chief supervisor. ECB President Christine Lagarde said last week that the 26-member Governing Council followed the rules in Buch's selection.

Persons: Claudia Buch, Ralph Orlowski, Buch, Spain's Margarita Delgado, Joachim Nagel, Christine Lagarde, Marco Zanni, Frank Siebelt, Hugh Lawson, Alexandra Hudson Organizations: REUTERS, Central, Single, EU, ECB, Reuters, Council, Democracy Group, Alexandra Hudson Our, Thomson Locations: Frankfurt, FRANKFURT, Spain

☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

☆ Major central banks are on the brink of peak rates — but the inflation battle might not be over
▼ + stars: | 2023-09-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, Sept. 14, 2023. The ECB raised interest rates again, acting for the 10th consecutive time to choke inflation out of the euro zone's increasingly feeble economy. The European Central Bank last week signaled that its Governing Council feels rates may have got there. Federal ReserveFed Chair Jerome Powell made clear last month that further hikes were on the table, and the central bank is deeply concerned about inflation experiencing a fresh acceleration if financial conditions ease. The consumer price index rose at its fastest monthly rate this year in August, mainly driven by energy prices, and was 3.7% year-on-year.

Persons: Christine Lagarde, Berenberg's Holger Schmieding, Raphael Thuin, Thuin, Jerome Powell, J . Safra Sarasin Organizations: European Central Bank, ECB, Bloomberg, Getty, Deutsche Bank, Tikehau, Federal, U.S . Federal, J ., Fed, Markets, Reuters, Bank of England Locations: Frankfurt, Germany, Europe, U.S

A view shows the placards of the political parties in front of the European Central Bank (ECB) building in Frankfurt, Germany, September 14, 2023. The central bank for the 20 countries that use the euro has already raised interest rates 10 times to record levels but inflation remains well above its 2% target. ECB President Christine Lagarde said last week that policymakers had not discussed the bond-buying schemes at their latest policy meeting. She described the PEPP as the ECB's "first line of defence" to preserve policy transmission - central bank jargon for bond market stability in the most indebted countries. Slovenian central bank governor Bostjan Vasle recently backed selling bonds bought under the ECB's older Asset Purchase Programme, which is less flexible than the PEPP.

Persons: Wolfgang Rattay, Christine Lagarde, Bostjan Vasle, Peter Kazimir, Catherine Evans Organizations: European Central Bank, REUTERS, Central Bank, Reuters, ECB, Thomson Locations: Frankfurt, Germany, Italy, FRANKFURT, Athens, Slovenian, PEPP, Sintra

☆ Inflation is expected to slow because of these trends
▼ + stars: | 2023-09-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —US inflation has slowed steadily from its four-decade peak last June, and it’s expected to cool further thanks to easing car prices and rents. Despite the expected inflation drop, she said investors anticipate the Fed will keep interest rates steady and not cut them anytime soon. “It may take a little bit longer than expected for inflation to come down to 2%, and inflation being in a 2-3% range next year is reasonable,” she said. Tuesday: Canada’s statistics agency releases August inflation data. The UK’s Office for National Statistics releases August inflation data.

Persons: we’re, ” José Torres, “, ”, Sarah House, Saira Malik, Michelle Toh, ” Read, General Mills, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Interactive Brokers, CNN, “, ”, United Auto Workers, CPI, San, San Francisco Fed, National Association of Home Builders, US Commerce Department, Japan’s Ministry of Finance, FedEx, General, National Statistics, Federal Reserve, Darden Restaurants, The Bank of England, US Labor Department, National Association of Realtors, The Bank of Japan, European Central Bank, Global Locations: Washington, Wells Fargo, San Francisco, China, Michelle Toh ., Japan’s

European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. Lagarde stigmatised the leak at the start of the two-day meeting, a criticism that was echoed by several colleagues. But as borrowing costs were pushed higher, more policymakers expressed reservations about further hikes, the sources said. Lagarde has spared no effort in trying to woo her colleagues. In return, she asked for governors to stop trashing policy decisions once taken, keep internal disputes out of the media and put their phones away while colleagues were speaking.

Persons: Christine Lagarde, Kai Pfaffenbach, Mario Draghi, Claudia Buch, Andrea Enria, Lagarde's, Lagarde, Weeks, Draghi, Francesco Canepa, Mike Harrison Organizations: European Central Bank, ECB, REUTERS, SANTIAGO DE, Central Bank, Reuters, Governing Council, Single, Thomson Locations: Frankfurt, Germany, FRANKFURT, SANTIAGO, SANTIAGO DE COMPOSTELA, Draghi

☆ ECB's Lagarde defends bank supervisor pick after pushback
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO DE COMPOSTELLA, Sept 15 (Reuters) - European Central Bank President Christine Lagarde defended on Friday the bank's pick to head its bank supervision arm, despite the European Parliament's preference for a rival candidate to oversee a 26 trillion euro banking sector. Lagarde said that the 26-member Governing Council, who selected Buch, took the committee's opinion into account but noted that the committee had no veto but merely an opportunity to formulate an opinion. Once that opinion was received, policymakers followed the letter of the law in the selection process, Lagarde added. The key point of contention is that Buch has relatively limited experience in bank supervision, having joined the ECB's Supervisory Board only this year, while Delgado has spent decades in the field. Buch must now go back to the same committee for a public hearing, tentatively scheduled for 0800 GMT on Wednesday.

Persons: SANTIAGO, Christine Lagarde, Claudia Buch, Margarita Delgado, Buch, Lagarde, Delgado, Jan Strupczewski, Balazs Koranyi, Chizu Organizations: SANTIAGO DE COMPOSTELLA, Central Bank, ECB, Bank of Spain, Economic, Monetary Affairs, ECB's, Thomson Locations: Bank

☆ Morning Bid: China adds fuel to global equity rally
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 29, 2023. Signs that the recent flurry of support measures from Beijing are working to stabilise the economy showed up in August retail sales and factory production data released this morning. The dollar remains king, with the euro swooning in the course of a very eventful few days. That sets the stage for another pivotal week ahead, featuring policy decisions from not just the Fed, but the Bank of England and the Bank of Japan. There will be plenty of opportunity to hear from ECB officials today, with the Eurogroup convening in Spain.

Persons: Kevin Buckland, Moody's, Boss Christine Lagarde, Fabio Panetta, Edmund Klamann Organizations: REUTERS, Staff, Graphics, Bank of England, Bank of Japan, ECB, Bank of Italy, Sweden CPI, France CPI, NY Fed, Thomson Locations: Frankfurt, Germany, China, Beijing, Spain, Sweden, France, Italy, Michigan, NY

"The inflation momentum is simply too strong for the ECB to pause," Danske Bank economist Piet Haines Christiansen said. In contrast, markets have fully priced in unchanged rates at next week's meeting of the U.S. Federal Reserve, which started raising rates earlier and has moved higher than the ECB. "We doubt that this will be possible and expect that a decision to hold rates steady today would mark the end of the tightening cycle." The euro zone's biggest economy, Germany, is bearing the brunt of an industrial slump and heading for recession, according to several forecasts. ECB President Christine Lagarde will hold a news conference at 1245 GMT.

Persons: Piet Haines Christiansen, Dirk Schumacher, Christine Lagarde, Catherine Evans Organizations: ECB, European Central Bank, Reuters, Danske Bank, U.S . Federal Reserve, Services, Thomson Locations: FRANKFURT, Germany

☆ European Central Bank hikes rates to record level as inflation risks outweigh economic gloom
▼ + stars: | 2023-09-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

President of the European Central Bank (ECB) Christine Lagarde gestures as she addresses a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on July 27, 2023. The European Central Bank on Thursday announced a 10th consecutive hike in its main interest rate, as the fight against inflation took precedence over a weakening economy. The unprecedented series of rate rises has now hauled the central bank's deposit facility from -0.5% in June 2022 to a record 4%. Money markets indicated a roughly 63% chance of a hike through Thursday morning, up from a more even split in recent days. The report came from a source ahead of the release of its quarterly projection Thursday.

Persons: Christine Lagarde Organizations: European Central Bank, ECB Locations: Frankfurt, Germany

Traders cheered the expected end of rate hikes that have raised borrowing costs from minus 0.5% in just over a year. That sent euro zone government bond yields tumbling, the euro down and stocks (.STOXX) higher. The ECB cut its outlook for euro area growth this year to 0.7%, while economists polled by Reuters expect growth of 0.6%. A market rally is also likely unwelcome to the ECB. Hawkish policymakers have started calling for an earlier end to PEPP reinvestments, and the ECB is likely to begin a debate on furthering its balance-sheet runoff with rate hikes likely done.

Persons: Charles Diebel, Simon Bell, Jason Simpson, Anna Stupnytska, reinvesting, Mediolanum's Diebel, reinvestments, Divyang Shah, Christine Lagarde, Shah, Yoruk Bahceli, Naomi Rovnick, Dhara, Dhara Ranasinghe, Hugh Lawson Organizations: European Central Bank, Traders, Reuters Graphics, Mediolanum Asset Management, ECB, Reuters, Legal, General Investment Management, State, Fidelity International, Thomson Locations: Italy, Germany

ECB President Christine Lagarde has said the latest rate decision will be made based on available data, a switch from the last nine meetings when rate hikes were signaled ahead of time. But Valli added that it was “a very close call.”Market indicators of future rate moves show many are leaning against an ECB rate hike Thursday. They are betting that the U.S. Federal Reserve might manage a “soft landing” by finishing its rate hikes without pushing the economy into a downturn. Economists and investors generally expect the Fed to skip a rate hike at its meeting next week, but it could increase again in November. The flip side is that rate hikes can hurt economic growth if they're overdone.

Persons: Christine Lagarde, Marco Valli, Valli, Klaas Knot Organizations: European Central Bank, ECB, Federal Reserve, UniCredit Bank, Services, U.S . Federal Reserve, Fed, Bank of Locations: FRANKFURT, Germany, Milan, France, Spain, Italy, Europe's, Europe, China, U.S, Central, Ukraine, Bank of England

"Weakness in domestic demand, in particular consumption, shows that high and still increasing consumer prices for most goods and services are taking a heavier toll than expected," a commission statement said. The commission cut its forecast for Europe's largest economy this year to minus 0.4%. The economic rebound from the pandemic sent consumer prices higher as demand for goods created bottlenecks in supplies of raw materials and parts, which have now mostly eased. Higher prices spread to food and then services, a broad category ranging from haircuts and hotel stays to medical treaments and car repairs. Prospects of weakening economic growth have led some economists to predict the European Central Bank may avoid raising interest rates Thursday following nine straight hikes.

Persons: Paolo Gentiloni, ”, Alexander Valentin, Gentiloni, Christine Lagarde Organizations: European Union, European Commission, European Central Bank, EU, ECB, Oxford, International Monetary Fund, U.S . Locations: FRANKFURT, Germany, —, China, Ukraine, Russia, Europe, U.S

European Central Bank (ECB) President Christine Lagarde speaks to the media following the Governing Council's monetary policy meeting at the ECB headquarters in Frankfurt, Germany, July 27, 2023. "It's such a close call between the pause and the rate hike," said ING's global head of macro Carsten Brzeski. Traders are torn but favour an ECB pause, pricing in around a 40% chance of a hike. For many economists, one thing is clear: if the ECB has further tightening to deliver, September is likely its last chance. Even the hawks, keeping a hike on the table, say fresh ECB projections on Thursday are key to the decision.

Persons: Christine Lagarde, Kai Pfaffenbach, Reinhard Cluse, Mario Centeno, Isabel Schnabel, Austria's Robert Holzmann, Iain Stealey, Philip Lane, Kaspar Hense, Yoruk Bahceli, Stefano Rebaudo, Dhara Ranasinghe, Susan Fenton Organizations: European Central Bank, ECB, REUTERS, Central Bank, Traders, UBS, JPMorgan Asset Management, Reuters, ING, BlueBay Asset Management, Reuters Graphics Reuters, Thomson Locations: Frankfurt, Germany, Italy

☆ Europe faces dirtier inflation fight than US
▼ + stars: | 2023-09-06 | by ( Francesco Guerrera | ) www.reuters.com time to read: +6 min

The euro zone’s export-led economy is weak, consumers and businesses are borrowing less, and higher borrowing costs mean there’s further pain to come. The contrasting fortunes of Christine Lagarde, president of the European Central Bank, and Jerome Powell, chair of the U.S. Federal Reserve, can be summed up in two numbers. The equivalent figures for the euro zone were 5.3% and 0.6%, respectively. Euro zone inflation has halved from the 10.6% peak it reached in October 2022. Europe faces a longer and dirtier fight to tame rising prices.

Persons: Kai Pfaffenbach, Christine Lagarde, Jerome Powell, That’s, Lagarde, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: European Central Bank, REUTERS, Reuters, U.S . Federal, P, International Monetary Fund, ECB, Economics, Labour, Thomson Locations: Frankfurt, Germany, Europe, United States, U.S, China

☆ Shares, oil rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October. Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, I'm, Craig Erlam, we're, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema, Ed Osmond Organizations: Federal Reserve, Country Garden, Lazard, Investor, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, European Central Bank, Brent, Thomson Locations: United States, Beijing, China, Europe, U.S, Saudi Arabia, Sydney

☆ Dollar eases as risk appetite improves on China's measures
▼ + stars: | 2023-09-04 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The Australian dollar and the New Zealand dollar also got a lift from those measures. "The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank. The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Persons: Dado Ruvic, Jane Foley, Christine Lagarde, Isabel Schnabel, Foley, Jeremy Hunt, Sterling, Joice Alves, Ankur Banerjee, Sharon Singleton, Christina Fincher Organizations: REUTERS, U.S, Australian, New Zealand, Rabobank, European Central Bank, ECB, FOCUS, Reserve Bank of Australia, Canadian, Bank of, Thomson Locations: China, Beijing, FOCUS British, U.S, London, Singapore

☆ Shares, commodities rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.1%, having climbed 2.3% last week, thanks in large part to a 1.3% rise in Chinese blue chips (.CSI300). S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, gold benefited from the diminished risk of a U.S. rate rise to stand at $1,940 an ounce . Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema Organizations: Federal Reserve, Country Garden, Lazard, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: China, United States, Beijing, Asia, Pacific, Japan, drugmaker Novo, Canada, Australia, U.S, Saudi Arabia

"Whether this bounce will continue remains to be seen, but it has given China equities a shot in the arm." S&P 500 futures and Nasdaq futures both edged up 0.1%, while stocks in Europe opened on a strong footing. "The soft landing crowd will be pleased that the labour market is softening without much stress at the moment," Deutsche Bank strategist Jim Reid. Any path to a hard landing, outside of a shock, has to go via signs of a soft landing first," he said. Brent crude futures were steady on the day at $88.50 a barrel, while U.S. futures were also flat at $85.55.

Persons: Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Federal Reserve, Country Garden, RBC Capital Markets, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: U.S, China, SYDNEY, United States, Beijing, Shanghai, Asia, Pacific, Japan, Europe, drugmaker Novo, Canada, Australia, Saudi Arabia

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