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

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

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

☆ China's new trading rules target more oversight, not killing 'flash boys', says lobby group
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI/SINGAPORE, Sept 26 (Reuters) - China's securities regulators have told market participants that tighter rules for programme trading were not designed to kill the business, but were a response to calls for more oversight, according Asia's largest financial lobby group ASIFMA. "There's no intent to be prejudiced against high frequency trading firms," said Lyndon Chao, ASIFMA managing director and head of equities and post trade. Quant funds in China include global players such as Winton, Two Sigma and D.E.Shaw though these three aren't members of ASIFMA. The rules "came out all of a sudden because the regulators might be facing pressure from investors suffering from recent poor stock market performance," he said. There are a lot of quant funds out there that do a great job of injecting liquidity when needed.

Persons: Lyndon Chao, They're, ASIFMA, Chao, Ren Zeping, Liu Yuhui, ASIFMA's Chao, Samuel Shen, Jason Xue, Tom Westbrook, Shri Navaratnam Organizations: Sigma, Reuters, Thomson Locations: SHANGHAI, SINGAPORE, China, Winton, Shanghai, Shenzhen

☆ BOJ may hold off on ending negative rates until April - ex-board member
▼ + stars: | 2023-09-26 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

With inflation exceeding 2% for more than a year, markets are rife with speculation the BOJ will raise short-term interest rates from the current -0.1% as early as the end of this year. Ending negative interest rates likely won't hurt the economy much as inflation-adjusted real borrowing costs will remain low, said Sakurai, a former BOJ board member who retains close ties with incumbent policymakers. "Ending negative rates will be largely a symbolic move, but the BOJ probably wants to time it very carefully," Sakurai said. Even if the central bank were to end negative rates, it will likely describe the move as a modest adjustment to the degree of monetary stimulus, he said. In July, it raised a hard cap for the 10-year yield to 1.0% from 0.5% to allow long-term interest rates to rise more freely reflecting higher inflation.

Persons: Issei Kato, BOJ Sakurai, Sakurai, Sakurai TOKYO, Makoto Sakurai, Leika, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Reuters, Thomson Locations: Tokyo, Japan

☆ California Escapes Fire Season Mostly Unharmed, but Danger Could Lie Ahead
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

After disastrous years in 2020 and 2021, wildfire damage this season has been largely limited to the sparsely populated northwest corner of the state. Cal Fire has reported 5,474 wildfires burning 257,407 acres (104,169 hectares) in 2023, similar to the same period of 2022. The five-year average over the same interval is 6,142 fires and 1.2 million acres burned. "We're really only a prolonged heatwave followed by a windstorm away from having major fires," Chavez said. UCLA meteorologist Daniel Swain said climate change is going to result in more extreme dry years periodically interspersed with more extreme wet years.

Persons: Daniel Trotta, California's, Tim Chavez, Nick Schuler, Michele Steinberg, Chavez, Daniel Swain, we'll, Swain, Shri Navaratnam Organizations: of Water Resources, Labor, California Department of Forestry, Fire Protection, Cal Fire, National Fire Prevention, UCLA, YouTube Locations: California, Western Canada, United States, Hawaii, Lahaina, Southern California

Riverside Animal Control looks for stray dogs as as the Fairview Fire smoulders near Hemet, California, U.S., September 9, 2022. After disastrous years in 2020 and 2021, wildfire damage this season has been largely limited to the sparsely populated northwest corner of the state. The five-year average over the same interval is 6,142 fires and 1.2 million acres burned. "We're really only a prolonged heatwave followed by a windstorm away from having major fires," Chavez said. UCLA meteorologist Daniel Swain said climate change is going to result in more extreme dry years periodically interspersed with more extreme wet years.

Persons: David Swanson, California's, Tim Chavez, Nick Schuler, Michele Steinberg, Chavez, Daniel Swain, we'll, Swain, Daniel Trotta, Shri Navaratnam Organizations: Riverside, REUTERS, of Water Resources, Labor, California Department of Forestry, Fire Protection, Cal Fire, National Fire Prevention, UCLA, YouTube, Thomson Locations: Fairview, Hemet , California, U.S, California, Western Canada, United States, Hawaii, Lahaina, Southern California

☆ LG Chem partners with Huayou Group to build joint LFP cathode plant in Morocco
▼ + stars: | 2023-09-24 | by ( Heekyong Yang | ) www.reuters.com time to read: +3 min

The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSummaryCompanies LG Chem to build joint LFP cathode plant in Morocco with China's YoushanCompany to enter LFP cathode business for the first timeCompany partners with Huayou Group to build 4 facilities in Morocco and IndonesiaSEOUL, Sept 24 (Reuters) - South Korea's LG Chem Ltd (051910.KS) said on Sunday it has entered into partnership with China's Huayou Group's subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco in an effort to diversify its portfolio. LG Chem said LFP cathodes produced at the Morocco plant will be supplied to the North American market and receive subsidies from the U.S. Inflation Reduction Act (IRA) as Morocco is a free-trade partner with the United States. LG Chem and Youshan would need to adjust their respective equity share in compliance with the U.S. Treasury Department's guideline of a "foreign entity of concern," a provision aimed at China, LG Chem said in the statement. The size of LG Chem's investments for its four facilities with Huayou Group has not been finalised yet.

Persons: Kim Hong, China's, LG Chem, LFP cathodes, Heekyong Yang, Shri Navaratnam Organizations: LG Chem, REUTERS, China's Youshan Company, Huayou Group, LG Chem Ltd, LG, North, U.S, U.S . Treasury, U.S . Treasury Department, Huayou, Thomson Locations: Seoul, South Korea, Morocco, Indonesia SEOUL, KS, United States, Korea, China, U.S, Indonesia

☆ Taiwan raises concerns about situation 'getting out of hand' with China drills
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +3 min

China, which views democratically governed Taiwan as its own territory, has in recent years carried out many such drills around the island, seeking to assert its sovereignty claims and pressure Taipei. Warships from China's southern and eastern theatre commands have been operating together off Taiwan's east coast, he added. China has not commented about the drills around Taiwan, and its defence ministry has not responded to requests for comment. Ministry spokesman Sun Li-fang added that China's Eastern Theatre Command forces were the "attacking force", simulating a battle scenario. China normally performs large-scale exercises from July to September, Taiwan's defence ministry has said.

Persons: Tingshu Wang, Chiu Kuo, cheng, Chiu, Sun Li, Ben Blanchard, Roger Tung, Shri Navaratnam Organizations: Air Force, Eastern Theatre Command, Liberation Army, PLA, REUTERS, Rights, Taiwan Defence, Thomson Locations: Taiwan, Beijing, China, Rights TAIPEI, Shandong, Taipei

Sept 23 (Reuters) - U.S. auto workers expanded their strike on Friday with a clear target for distress: dealers who sell and service GM and Stellantis vehicles. The strategy of choking parts delivery increases problems for some dealers who say it already had been difficult to source some components. The broader strike, which targets 38 parts distribution centers owned by GM and Stellantis, "is going to have these shops telling their customers 'We don't know when we can fix your vehicle. "It's definitely going to impact customers," said Thomas Morris, 60, who went on strike on Friday at a General Motors parts distribution center in the suburbs of Philadelphia. The center serves GM dealerships from Pennsylvania to Maine, moving some 30,000 parts for auto repairs each day, workers said.

Persons: Richard Fasulo, Howard Drake, Mike Stanton, It's, Thomas Morris, Stellantis, Arthur Wheaton, Brad Sowers, Jim Butler, he'll, Abhirup Roy, Doyinsola, Jarrett Renshaw, Peter Henderson Organizations: Cadillac, GM, National Association of Auto Dealers, UAW, Motors, Cornell's School of Industrial and Labor Relations, Jim Butler Auto Group, Chevrolet, Thomson Locations: Wappinger , New York, California, Philadelphia, Pennsylvania, Maine, St.Louis , Missouri, San Francisco, New York, Pennyslvania

☆ Costa Rica's homicide rate rises in deadliest year ever
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

People cross the street, one day after Costa Ricans elected Carlos Alvarado Quesada, as the new president, in San Jose, Costa Rica April 2, 2018. REUTERS/Juan Carlos Ulate/File Photo Acquire Licensing RightsSAN JOSE, Sept 22 (Reuters) - More than 656 people have been killed so far in Costa Rica's deadliest year on record, official homicide data showed on Friday, though the government expects this figure to soar past 900 by the end of this year. Costa Rica's homicides hit a record 654 last year according to the historically peaceful Central American country's Judicial Investigation Agency (OIJ). The national rate for violent deaths is set to rise to 16 per 100,000 people this year, from 12.6 in 2022. Costa Rica's security minister Mario Zamora told Reuters in a statement that there are no "magic" and short-term responses to tackle crime in the country, and that it would need a series of security and prevention initiative.

Persons: Carlos Alvarado Quesada, Juan Carlos Ulate, Costa, Randall Zuniga, Mario Zamora, Zamora, Laura Chinchilla's, Rodrigo Chaves, Chaves, Alvaro Murillo, Carolina Pulice, Sarah Morland Organizations: Costa Ricans, REUTERS, JOSE, Judicial Investigation Agency, Central, Authorities, Reuters, Central American, Thomson Locations: San Jose, Costa Rica, Costa Rica's, Jose, Caribbean, Limon, Colombia, United States, Europe

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. While workers across the entertainment industry waited for word of the outcome, no agreement had been announced as of late Friday, the 144th day of the strike. Representatives for the WGA and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, had no comment. Producer and WGA member Al Septien, also picketing outside Netflix on Friday, said he wanted to get back to work, but only under the right terms. We don't want to fold for a less-than-fair and good contract for the writers,” he said.

Persons: Mike Blake, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, Matthew Weiner, Weiner, Al Septien, We've, ”, Lisa Richwine, Dawn Chemielewski, Sandra Stojanovic, Shri Navaratnam Organizations: Writers Guild of America, Disney Studios, REUTERS, Netflix, Warner Bros Discovery, Comcast's, WGA, Alliance, Television Producers, SAG, Thomson Locations: Burbank , California, U.S, Angeles

☆ US, South Korea, Japan raise concerns over Russia-North Korea military cooperation
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing Guan Acquire Licensing RightsSEOUL, Sept 23 (Reuters) - U.S. Secretary of State Antony Blinken and South Korean, Japanese counterparts expressed "serious concern" over the discussion of military cooperation between Russia and North Korea, including possible arms trade, South Korea's Foreign Ministry said on Saturday. Blinken, South Korea's Foreign Minister Park Jin and Japan's Foreign Minister Yoko Kamikawa agreed to respond firmly to any acts that threaten regional security in violation of U.N. Security Council resolution in a brief meeting on Friday, the ministry said in a statement. North Korea's leader Kim Jong Un made a weeklong visit to Russia last week and discussed military cooperation with Russian President Vladimir Putin. U.S. and South Korean officials have expressed concern that the summit was aimed at allowing Russia to acquire ammunition from the North to supplement its dwindling stocks for its war in Ukraine. Reporting by Joyce Lee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Antony Blinken, Bing Guan, Park Jin, Yoko Kamikawa, North, Kim Jong Un, Vladimir Putin, Yoon Suk Yeol, Joyce Lee, Shri Navaratnam Organizations: 78th United Nations General Assembly, Lotte, REUTERS, Rights, South Korea's Foreign, Security, South, Thomson Locations: New York City, U.S, Rights SEOUL, South, Russia, North Korea, Ukraine, Seoul

☆ Inaugural Indian MotoGP race shortened due to heat
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +1 min

NOIDA, India, Sept 23 (Reuters) - The inaugural Indian Grand Prix race has been shortened by three laps after MotoGP riders asked for race distances to be adjusted due to hot and humid conditions during practice sessions, organisers said on Saturday. After Friday's two practice sessions, reigning champion Francesco Bagnaia said the conditions were "very demanding". "I thought Malaysia and Thailand were hot but here you feel like you're burning in some parts of the track." Ducati's Bagnaia will carry a 36-point lead over Pramac Racing's Jorge Martin in the 13th race of the year. Reporting by Hritika Sharma in Hyderabad Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Francesco Bagnaia, I've, MotoGP's, Ducati's, Pramac Racing's Jorge Martin, Hritika Sharma, Shri Navaratnam Organizations: Buddh, Circuit, Thomson Locations: NOIDA, India, Malaysia, Thailand, Hyderabad

Dombrovskis, who is also the bloc's trade commissioner, is on a four-day visit to China seeking more balanced economic ties with the EU. Citing the bloc's trade deficit as an example, he added "the EU also needs to protect itself in situations when its openness is abused." LITMUS TESTThe EU blames its 400 billion euro trade deficit partly on Chinese restrictions on European companies. A "thousand" barriers to market access have propelled the trade deficit to its "highest in the history of mankind", EU Ambassador to China Jorge Toledo lamented at a forum in Beijing on Thursday. One with whom the EU wishes to work towards a more balanced trade and investment relationship."

Persons: Valdis Dombrovskis, Jason Xue, Dombrovskis, China Jorge Toledo, Lifeng, Moscow, Brenda Goh, Albee Zhang, Shri Navaratnam, William Mallard Organizations: European Commission, Reuters, REUTERS, Rights, European Union, Bund Summit, EU, Global Times, Thomson Locations: Shanghai, China, Moscow, Russian, Ukraine, Beijing, Dombrovskis

Chevron/Handout via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies Strikes end at Gorgon, Wheatstone LNG operationsUnions, Chevron accept proposals from industrial umpireUnions pushed Chevron to match Woodside pay dealSYDNEY, Sept 22 (Reuters) - An Australian union alliance on Friday called off strikes at Chevron's (CVX.N) two major local liquefied natural gas (LNG) projects, agreeing to resolve disputes that had threatened to disrupt around 7% of global LNG supplies. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers suspended strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. YEARS-LONG CAMPAIGNThe deal caps a years-long campaign by the Offshore Alliance for higher pay and better conditions at major Western Australian LNG sites. A 2022 agreement with Japan's Inpex at its Ichthys LNG operation set a benchmark for subsequent talks with Shell, Woodside and Chevron.

Persons: Brad Gandy, Japan's, Saul Kavonic, Yin, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Shell, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Woodside, Chevron, Australia, Sydney, Singapore

[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers were set to end strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant. Energy analyst Saul Kavonic said the deal should see an end to most industrial action offshore Western Australia with union agreements, which last for around four years, now in place for most offshore LNG sites.

Persons: Brad Gandy, Saul Kavonic, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney, Singapore

[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The agreement would resolve a wage fight that has roiled global gas markets since early August, amid fears strikes would disrupt output from Chevron's Gorgon and Wheatstone LNG projects that produce around 7% of the world's LNG supply. On Thursday, the Fair Work Commission (FWC), which has the power to impose a settlement, said it "strongly recommended" parties accept its proposals to end work stoppages. Chevron accepted arbitration terms late on Thursday to resolve all outstanding issues and finalise the agreements with the unions. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant.

Persons: Brad Gandy, Renju Jose, Lewis Jackson, Alasdair Pal, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, SYDNEY, Offshore Alliance, Woodside Energy, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney

The data comes hours before the Bank of Japan (BOJ) concludes its two-day policy meeting that began on Thursday. While government subsidies pushed down utility bills, prices rose for a range of food and daily necessities in a sign that steady inflation was taking hold in the world's third-largest economy. "The persistent stickiness of inflation means the BOJ will need to revise up their inflation forecasts at its October meeting," said Gabriel Ng, an economist at Capital Economics. After hitting a peak of 4.2% in January, core inflation continued to slow as the effects of last year's sharp rises in fuel and raw material prices dissipate. But some analysts say the slowdown has not been as large as expected due to steady rises in food prices, and could keep inflation above the BOJ's target longer than initially thought.

Persons: Kazuo Ueda, Gabriel Ng, Ueda, Leika Kihara, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, Capital Economics, Thomson Locations: TOKYO

☆ Taiwan Raises Concerns About Situation 'Getting Out of Hand' With China Drills
▼ + stars: | 2023-09-22 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

China, which views democratically governed Taiwan as its own territory, has in recent years carried out many such drills around the island, seeking to assert its sovereignty claims and pressure Taipei. Warships from China's southern and eastern theatre commands have been operating together off Taiwan's east coast, he added. China has not commented about the drills around Taiwan, and its defence ministry has not responded to requests for comment. But China has increasingly been flexing its muscles off Taiwan's east coast, and generally displaying its ability to operate much further away from China's own coastline. China normally performs large-scale exercises from July to September, Taiwan's defence ministry has said.

Persons: Chiu Kuo, cheng, Chiu, Sun Li, Ben Blanchard, Roger Tung, Shri Navaratnam Organizations: Taiwan Defence, Eastern Theatre Command Locations: TAIPEI, Taiwan, Shandong, China, Taipei

☆ AlphaTauri confirm Tsunoda and Ricciardo for 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Summary Tsunoda and Ricciardo to be race line-upLawson to serve as reserve for both Red Bull teamsSUZUKA, Japan, Sept 23 (Reuters) - AlphaTauri confirmed Daniel Ricciardo and Yuki Tsunoda as their 2024 Formula One lineup on Saturday and said current stand-in Liam Lawson would be reserve driver for both of Red Bull's teams. "Both Daniel and Yuki have not just shown fantastic race craft but are also great global ambassadors for our team and our sport. We are building and it is a great feeling...bring on 2024," Ricciardo said in the statement. Tsunoda, Japan's only current F1 driver and backed by AlphaTauri's engine partner Honda, will be racing for a fourth season after joining in 2021. AlphaTauri said the Kiwi driver will attend all F1 races next season, focusing on testing, simulator and development work.

Persons: Lawson, AlphaTauri, Daniel Ricciardo, Yuki Tsunoda, Liam Lawson, Red, Williams, Zealander Lawson, Peter Bayer, Daniel, Yuki, Liam, Ricciardo, Honda, Franz Tost, Laurent Mekies, Peter, Laurent, Alan Baldwin, Rory Carroll, Toby Davis Organizations: Red Bull, SUZUKA, McLaren, Japan's, Kiwi, Thomson Locations: Japan, London, Los Angeles

☆ Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. The Japanese yen strengthened against the greenback before Friday's Bank of Japan policy announcement, while the pound and the Swiss franc slipped after the British and Swiss central banks kept rates unchanged. The BOJ will end its negative interest rate policy next year, the majority of economists said in a Reuters poll, as the market has begun to envisage the demise of its ultra-easy monetary settings. The pound fell to its lowest since March after the Bank of England held interest rates steady on Thursday, following a cooler-than-expected inflation report the previous day. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations.

Persons: Jason Lee, Helen, Powell didn't, BoE, Monex's, Brad Bechtel, Sweden's, bitcoin, Saqib Iqbal Ahmed, Sam Holmes, Shri Navaratnam, Sharon Singleton, Richard Chang Organizations: Hong, REUTERS, U.S, Federal Reserve, Friday's Bank of Japan, Swiss, British, Fed, Monex, ECB, Traders, FX, Jefferies, Bank of England, Swiss National Bank, Thomson Locations: Hong Kong, Swiss, Japan, Swedish, Norwegian

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Pound, franc slide as central banks pause hikes; dollar holds firm
▼ + stars: | 2023-09-21 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The euro rose as high as 0.9677 francs and is set for its biggest one-day rise since June. The dollar rose 0.8% to 0.9053 francs , hitting its highest level since June 13. "The Swiss franc has understandably weakened after the surprise hold in the policy rate today," ING strategists said in a note. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations. Although you never know for sure with this central bank," said Matt Simpson, senior market analyst at City Index.

Persons: Dado Ruvic, Sterling, Goldman Sachs, Michael Cahill, Sweden's, Niels Christensen, Matt Simpson, Samuel Indyk, Brigid Riley, Kevin Buckland, Sam Holmes, Shri Navaratnam, Sharon Singleton Organizations: REUTERS, Swiss, British, U.S . Federal Reserve, Friday's Bank of Japan, Bank of England, Swiss National Bank, ING, Fed, Bank of Japan, New Zealand, NZ, Thomson Locations: Swiss, Sweden, Norway, Swedish, Norwegian

☆ Exclusive: China scrutinizes quant strategies as market weakness stokes public anger - sources
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. Separately, the Shanghai and Shenzhen stock exchanges, under the CSRC's guidance, have sought information from major quant funds on their money-making strategies, another source said. The weakness has triggered finger-pointing in social media, as well as criticism from fund managers and retail investors against these quant funds and short sellers. Short-selling activities by quant funds could also be caught in the crossfire, he said. Another brokerage source said the CSRC asked them to elaborate on the size of their quant clientele and whether quant trading had impacted recent stock market.

Persons: Aly, shortsellers, Yuan Yuwei, Yang Tingwu, Shri Navaratnam Organizations: Shanghai Stock Exchange, REUTERS, Rights, China Securities Regulatory Commission, Global, Sigma, Huatai Securities, China's, Quant Investment, Yanfu Investments, Shanghai Minghong Investment Management Co, Wisdom Asset, Tongheng Investment, Shanghai, Thomson Locations: Pudong, Shanghai, China, Shenzhen, Winton, Beijing

☆ India suspends visa services for Canadians as stand-off escalates
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A security personnel stands guard outside the Canadian High-Commision in New Delhi, India, September 19, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsNEW DELHI, Sept 21 (Reuters) - India on Thursday suspended visa services for Canadian citizens, a foreign ministry spokesperson said, citing security threats to its staff in its consulates in Canada. BLS International(BLSN.NS), an Indian company offering visa facilities, said the notice from the Indian mission in Canada cited "operational reasons" for suspension of visa services "till further notice". Canadian officials have so far declined to say why they believe India could be linked to Nijjar's murder. Industry estimates show the Comprehensive Economic Partnership Agreement (CEPA) between Canada and India could boost two-way trade by as much as $6.5 billion.

Persons: Adnan Abidi, Narendra Modi's, Justin Trudeau, Hardeep Singh Nijjar, Dominic LeBlanc, Sakshi Dayal, Shivam Patel, Rupam Jain, Krishn Kaushik, Shri Navaratnam, Tomasz Janowski Organizations: Canadian, REUTERS, BLS, Global Affairs Canada, Canadian Bureau of International Education, Industry, Thomson Locations: New Delhi, India, DELHI, Canada, Ottawa, British Columbia, Punjab

[1/2] A South Korea won note is seen in this illustration photo May 31, 2017. South Korean companies repatriated a record $33.13 billion of overseas earnings during the January-July period, 6.3 times the amount a year earlier, central bank data on current account balances showed. "The coming home of earnings retained abroad has been a big help for the won," a government official in charge of foreign exchange market said, asking not to be named due to internal policy. The automaker said on June 12 it plans to invest 7.8 trillion won ($5.82 billion) of retained earnings from overseas operations this year in electric car factories at home. The surge in repatriation also comes ahead of trading reforms planned for next year, when South Korea will extend onshore trading hours until 2 a.m. to improve access for foreign investors.

Persons: Thomas White, Yoon Suk, Hong Sung, kook, Min Gyeong, 1,340.7400, Jihoon Lee, Cynthia Kim, Joyce Lee, Heekyong Yang, Vidya Ranganathan Organizations: South, REUTERS, Rights, Samsung Electronics, Hyundai Motor, Kia Corp, Reuters Graphics Bank of Korea, Woori Bank, Hyundai, Hyundai Motor Group, Shinhan Bank, Yena, Thomson Locations: South Korea, Rights SEOUL, Korea

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