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☆ Women's World Cup final eight is wide open, as sport sees a changing of the guard
▼ + stars: | 2023-08-09 | by ( Lori Ewing | ) www.reuters.com time to read: +4 min

When the tournament was expanded to 32 teams, there was apprehension around whether lower-ranked sides could compete at this level. Concerns about blowouts were blown out of the water in a changing of the guard. Japan are the only previous World Cup champions remaining, having climbed the winners' podium in 2011. In an end of an era, the elimination of the U.S., Canada and Brazil marked inauspicious World Cup finales for some of the game's biggest trailblazers in Megan Rapinoe, Christine Sinclair and Marta. The Lionesses have more big-game experience as reigning European champions, but Colombia have enjoyed better fan support than any team except Australia.

Persons: Rachel Daly, Georgia Stanway, Dan Peled SYDNEY, gunning, Sarina Wiegman, Megan Rapinoe, Christine Sinclair, Marta, Linda Caicedo, France's, Kadidiatou Diani, Roja, Australia's Matildas, Sam Kerr, Kerr, Les Bleues, Herve Renard, We're, Renard, Lauren James, Nigeria's Michelle Alozie, Lori Ewing, Michael Perry Organizations: Soccer Football, FIFA, Brisbane Football, United States, Germany, Norway, Olympic, Canada, Sweden, Vietnam, France, Morocco, England, Saturday, Columbia, Thomson Locations: New Zealand, England, Nigeria, Brisbane, Australia, Georgia, Colombia, France, Spain, Netherlands, Japan, Sweden, Brazil, U.S, Canada, Norway, Switzerland, Denmark, European, Nigeria's

☆ Women’s World Cup roundup: Australia blanks Denmark to advance
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - FIFA Women’s World Cup Australia and New Zealand 2023 - Round of 16 - Australia v Denmark - Stadium Australia, Sydney, Australia - August 7, 2023 Australia's Hayley Raso celebrates scoring their second goal REUTERS/Carl Recine TPX IMAGES OF THE DAYAugust 7 - Caitlin Ford and Hayley Raso scored and team captain Sam Kerr made her triumphant Women's World Cup debut in Australia's 2-0 win over Denmark at Stadium Australia on Monday. Ford tallied in the 29th minute and Raso scored in the 70th to put the match away. --England 1, Nigeria 0 (PK)England took the penalty kicks 4-2 to defeat Nigeria and advance to the quarterfinals. Beth England, Rachel Daly and Alex Greenwood converted on PKs before Chloe Kelly delivered the winning tally for England. England survived extra time playing with just 10 women after top scorer Lauren James was issued a red card in the 87th minute.

Persons: Hayley Raso, Carl Recine, Caitlin Ford, Sam Kerr, Denmark's, Ford, Raso, Kerr, Beth England, Rachel Daly, Alex Greenwood, Chloe Kelly, Lauren James, James, Michelle Alonzi Organizations: Soccer Football, FIFA, Stadium, REUTERS, Denmark, Stadium Australia, ., WWC, England, Thomson Locations: New Zealand, Australia, Denmark, Stadium Australia, Sydney, France, Morocco, Brisbane, Nigeria, England, Jamaica, Colombia

☆ England through to World Cup quarter-finals after beating Nigeria in shootout
▼ + stars: | 2023-08-07 | by ( Lori Ewing | ) www.reuters.com time to read: +4 min

BRISBANE, Aug 7 (Reuters) - England dumped Nigeria out of the Women's World Cup in a last-16 penalty shootout on Monday with Chloe Kelly scoring the decisive spot-kick, following a 0-0 draw over 120 nerve-jangling minutes. Beth England, Rachel Daly and Alex Greenwood also converted in a 4-2 shootout win for the European champions, who had a player sent off in regulation time. "You dream of playing in a World Cup when you're a kid," Earps said. England are making their sixth World Cup appearance and have their sights set on beating their best finish of third in 2015. The 40th-ranked Super Falcons bow out of their ninth World Cup in the last 16 for the second consecutive time.

Persons: Chloe Kelly, Beth England, Rachel Daly, Alex Greenwood, Kelly, Lauren James, Michelle Alozie, Nigeria's Desire Oparanozie, Alozie, James, Sarina Wiegman, Wiegman, it's, Mary Earps, Earps, Ashleigh Plumptre, Daly, Rasheedat Ajibade, Chiamaka Nnadozie, England, Asisat Oshoala, Lori Ewing, Hugh Lawson, Christian Organizations: BRISBANE, BBC, Brazil, Germany, Manchester City, England, Sydney, Manchester United, Falcons, Thomson Locations: England, Nigeria, Jamaica, Colombia, Lang, France

☆ Women's World Cup roundup: Lauren James lifts England over China
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

China failed to advance from the group stage for the first time in a Women's World Cup. A video review before halftime took away a goal or James would've bagged a hat trick against China (1-2-0, three points). England got three goals during group stage matches from James and next plays Nigeria on Monday in Brisbane. Chloe Kelly and Rachel Daly also netted goals for England, which matched its widest margin of victory in a Women's World Cup game. Vietnam concluded its first Women's World Cup appearance with losses in all three of its games.

Persons: Chloe Kelly, Lauren James REUTERS, Hannah Mckay, Lauren James, China's Shuang Wang, Keira Walsh, James, James would've, Lionesses, Alessia Russo, Lauren Hemp, Rachel Daly, Pernille, Troelsgaard, Harder, Dayana Pierre, Louis, Esmee Brugts, Jill Roord, Lieke Martens, Katja Snoeijs, Danielle van de Donk Organizations: Soccer Football, FIFA, England, Hindmarsh, China, Haiti, Vietnam, Thomson Locations: New Zealand, China, Adelaide, Australia, England, Denmark, Nigeria, Brisbane, Haiti, Perth, Netherlands, Vietnam, Dunedin , New Zealand

☆ England smash China for six to ease into last 16 as group winners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

Alessia Russo gave the European champions the perfect start with a goal in the fourth minute and Lauren Hemp and James added two more to give England a comfortable lead at the break at Hindmarsh Stadium. Without the injured Keira Walsh as the holding midfielder, England shifted to a 3-5-2 formation and caused havoc for China with balls into the box from the flanks. "The team showed that they're really adaptable ... that we can change shape very easily, that's what we showed tonight." It was a record World Cup defeat for Asian champions and 1995 semi-finalists China, who exit in the group stage for the first time in eight appearances at the global showpiece. "It's very unfortunate that we had this terrible loss," said China coach Shui Qingxia.

Persons: Lauren James, Alex Greenwood, Lauren Hemp, Alessia Russo, Hannah Mckay, James, Chloe Kelly, Rachel Daly, Keira Walsh, Sarina Wiegman, Shui, Russo, Millie Bright, Wang, Lucy Bronze, Jess Carter's, Kelly, Zhu Yu, wingback Daly, Nick Mulvenney, Christian Radnedge Organizations: Soccer Football, FIFA, England, Hindmarsh, Alessia Russo REUTERS, Reuters Connect, Nigeria, China, Denmark, Haiti, Manchester City, Thomson Locations: New Zealand, China, Adelaide, Australia, Brisbane, England

☆ James screamer gives England 1-0 win over Denmark
▼ + stars: | 2023-07-28 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

"It was a dream, it was something I've been thinking about, but most importantly, just happy to help the team win," James told the BBC. "We really, really had to fight for the win, and that's what we did," Wiegman told the BBC. England had chances to increase their lead, including Alessia Russo's fierce shot in the 71st minute that sailed just wide. "It did look serious, if you can't walk off the pitch it looks serious," Wiegman said of the injury to Walsh, who left the stadium on crutches. Denmark, who beat China 1-0 to kick off their campaign, play Haiti the same day.

Persons: Lauren James, Sarina Wiegman, Rachel Daly, James, I've, Daly, Lene Christensen, Keira Walsh, Reece, Wiegman, Alessia, Mary Earps, Pernille, Walsh, Leah Williamson, Beth Mead, Fran Kirby, Lionesses, Lori Ewing, Christian Radnedge Organizations: SYDNEY, Denmark, European, Sydney Football, BBC, Chelsea, England, Bayern, Danes, Haiti, China, Thomson Locations: England, Barcelona, Denmark, Bayern Munich, China, Haiti

☆ Mickelson, Morikawa miss Open cut, Smith just makes it
▼ + stars: | 2023-07-21 | by ( Ed Osmond | ) www.reuters.com time to read: +2 min

[1/3] Golf - The 151st Open Championship - Royal Liverpool, Hoylake, Britain - July 21, 2023 Phil Mickelson of the U.S. at the 1st tee during the second round REUTERS/Phil NobleHOYLAKE, England, July 21 (Reuters) - Americans Phil Mickelson and Collin Morikawa were among former champions to miss the cut in the British Open at Hoylake on Friday. "It was nice," Smith told reporters. Defending is one thing, but just the golf that I feel like I'm playing and to miss out on the weekend would be very frustrating." Fifty-year-old American Stewart Cink, Open champion in 2009, did make the weekend after adding a 73 to his opening 68 to finish at one under alongside 2016 winner Henrik Stenson of Sweden. Two former St Andrews Open champions also advanced on two over par, South African Louis Oosthuizen, winner of the Claret Jug in 2010, and American Zach Johnson who lifted the trophy in 2015.

Persons: Phil Mickelson, Phil Noble HOYLAKE, Collin Morikawa, Cameron Smith, Smith, Brian Harman, Mickelson, Francesco Molinari, Shane Lowry, John Daly, Darren Clarke, Ernie Els, Dustin Johnson, Justin Thomas, Justin Rose, Italian Molinari, Stewart Cink, Henrik Stenson, Sweden, South African Louis Oosthuizen, Zach Johnson, Ed Osmond, Pritha Sarkar Organizations: 151st, Royal, REUTERS, Sandwich, Carnoustie, St Andrews, South, Thomson Locations: Royal Liverpool, Hoylake, Britain, England, British, Australian, Muirfield, South African

☆ This high-risk global bond fund isn't for everyone, but it's tempting investors with a 10% yield
▼ + stars: | 2023-07-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

For global investors, the Abrdn Frontier Markets Bond Fund is one example of a fund offering substantial returns. What are frontier markets? While there is no formal definition, frontier markets are typically low-income, developing countries with underdeveloped capital markets, according to Daly. Investment director for emerging market debt, Abrdn Kevin Daly The appeal of these frontier markets is twofold, according to Daly. Managing FX risks Managing foreign exchange risk is tricky in frontier markets, where hedging instruments are often inefficient or unavailable.

Persons: Kevin Daly, Daly, Fitch, You've, who's, … Organizations: Markets Bond, CNBC Pro, Monetary Fund, Bank Locations: U.S, Abrdn, Nigeria, Kenya, Iraq, Ecuador, Uzbekistan, Mozambique, Daly, Benin, African, Europe, South Korea, Singapore, Taiwan, stockbrokers

In 2012, three months after Eddie Scott became sheriff of Clay County, Miss., a claim by a woman he had helped put behind bars threatened to tarnish his earliest days in office. The woman said in an April court filing that, while chief deputy less than three years earlier, he had coerced her into a sexual relationship after she was arrested. She laid out her allegations in state circuit court in October 2012 and asked a judge to overturn her prison sentence. To back up her story, the 26-year-old showed suggestive letters with a return address of the Clay County Sheriff’s Office and signed by then-Chief Deputy Scott, who was 47. “Hey Sexy,” he wrote to her in prison nine months before his election to the top job.

Persons: Eddie Scott, Scott, ”, “ Organizations: Sheriff’s Locations: Clay County, Miss, Clay

☆ Why declaring victory over inflation too soon may be a mistake for economy
▼ + stars: | 2023-07-16 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +9 min

The market is fully expecting another interest rate hike from the Fed in July, after it skipped a rate hike in June. For the Fed, ideal inflation is in the target range of 2%. But he is more encouraged about the economy avoiding recession, which recent economic history said would not be possible. San Francisco Fed President Mary Daly expressed her commitment to lowering inflation even further on "Squawk on the Street" last week. "It's really too early to say that we can declare victory on inflation.

Persons: Tom Werner, Jerome Powell, Ed Yardeni, Yardeni, Paul McCulley, Tom Lee, Fundstrat, Lee, Liz Young, Roger Ferguson, Ferguson, Hugh Johnston, they've, CFOs, Milton Friedman's, Pimco, Tiffany Wilding, Wilding, Mary Daly Organizations: Federal Reserve, Market Committee, Fed, CME Fed, Yardeni, Dow Jones, Dow, PepsiCo, CNBC, Francisco Fed Locations: U.S, Georgetown

☆ From inflation to mortgages: What last week’s data says about the economy
▼ + stars: | 2023-07-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

The Fed’s preferred gauge of inflation, the Personal Consumption Expenditures index, showed that inflation was double the target in May (more on inflation shortly). Wednesday’s Consumer Price Index showed that annual inflation slowed from 4% to 3% in June, the lowest level since March 2021. Then on Thursday came Producer Price Index data, which measures the average change in prices that businesses pay to suppliers. That data showed annual wholesale inflation cooled last month to the lowest level in nearly three years. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs,” she wrote.

Persons: Michael Scott, Price, ”, Mary Daly, “ It’s, Alicia Wallace, Freddie Mac, Jamie Dimon, JPMorgan Chase, can’t, Dimon, “, — CNN’s Bryan Mena, Matt Egan Organizations: New, New York CNN, Reserve, ” San Francisco Federal Reserve Bank, University of Michigan, JPMorgan, CNN Locations: New York, ” San Francisco

☆ Morning Bid: Markets bet July 2023 is 'peak Fed'
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanSurprise news of a 2%-plus print on U.S. headline inflation rate for June has world markets betting the peak of the Federal Reserve's interest rate campaign will now be this month. Either way, the latest inflation cheer means U.S. rate futures have wiped out bets of another Fed rate hike after a final quarter-point move to 5.25-5.50% at July 26's meeting. Although they see peak rates held there to year-end, futures now price as much as a full percentage point of cuts by this time in 2024. The VIX "fear index" (.VIX) fell back below 14 to its lowest of the month so far. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, That's, Christopher Waller, Mary Daly, Joe Biden, Christine Lagarde, Toby Chopra Organizations: Fed, Nasdaq, PepsiCo, Delta Airlines, Bank of, Swiss, Bank of Canada, Federal Reserve, San Francisco Fed, Nordic, European Central Bank, . Treasury, Reuters, Thomson Locations: U.S, Beijing, Jackson, Fastenal, Helsinki, Brussels, Japan

☆ San Francisco Fed president: ‘It’s really too early to declare victory on inflation’
▼ + stars: | 2023-07-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Despite promising signs that inflation is abating, San Francisco Federal Reserve Bank President Mary Daly said the fight against price increases isn’t over. But she cautioned, “It’s really too early to declare victory on inflation.”The latest Consumer Price Index report published on Wednesday showed that annual inflation slowed from 4% to 3% in June, the lowest level since March 2021. However, the Fed’s preferred gauge of inflation, the Personal Consumption Expenditures index, showed that inflation was double its 2% target in May. Daly acknowledged there’s a risk the Fed will raise rates higher than what’s ultimately needed to get inflation down to 2%. Daly, who will be voting on interest rates at the Fed’s meetings next year, said she wouldn’t necessarily consider cutting rates once inflation hits 2%.

Persons: Mary Daly, ” Daly, “ It’s, Daly, there’s, “ can’t, ”, Daly’s, James Bullard Organizations: New, New York CNN, San Francisco Federal Reserve Bank, CNBC, Louis Federal Reserve Bank Locations: New York, San, St

☆ San Francisco Fed President Mary Daly: Too early to declare victory on inflation
▼ + stars: | 2023-07-13 | 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: Too early to declare victory on inflationSan Francisco Fed President Mary Daly joins 'Squawk on the Street' to discuss the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Mary Daly Organizations: San, Fed, San Francisco Fed Locations: U.S

The 2-year Treasury yield was down by more than 1 basis point at 4.847%. U.S. Treasury yields declined Tuesday as investors assessed what could be next for Federal Reserve monetary policy following remarks from central bank officials and ahead of key economic data. Investors considered the Federal Reserve's next interest rate policy moves ahead of key inflation data due this week and the central bank's upcoming meeting on July 25-26. Investors are also looking out for several major economic data points scheduled for this week, including the latest consumer inflation figures on Wednesday and wholesale inflation on Thursday. No key data is expected on Tuesday.

Persons: Mary Daly, Jerome Powell, CME's Organizations: Treasury, U.S, Federal Reserve, Investors, Federal, San Francisco Fed, Institution

☆ Stock Market Today: Dow, Nasdaq Futures Edge Up
▼ + stars: | 2023-07-11 | by ( ) www.wsj.com time to read: +2 min

Stock futures edged higher as investors looked ahead to inflation data that are expected to play a crucial role in shaping the next stretch of monetary policy. Investors eyed gains in overseas stock markets Tuesday, which came after Beijing announced new loan-relief measures for China’s troubled property sector. European indexes also rose, with the exception of the U.K.’s benchmark stock index, which fell after data showed wage growth remained strong there. Stock futures edged higher. Futures tied to the S&P 500 and the tech-focused Nasdaq-100 both gained 0.2%, while those tied to the Dow industrials edged up 0.1%.

Persons: Loretta Mester, Mary Daly, ’, Hong, Seng, Brent Organizations: Labor Department, Investors, Traders, Beijing, Dow, Treasury, Shanghai, Nikkei Locations: Europe

☆ The number of small firms raising prices fell to the lowest level since March 2021
▼ + stars: | 2023-07-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The number of small businesses saying they raised their prices fell in June to its lowest level since March 2021, according to a survey released Tuesday by the National Federation of Independent Business. The share of respondents who reported higher prices dropped by three points last month to 29%, “still a very inflationary level but trending down,” the report showed. “Inflation and labor shortages continue to be great challenges for small businesses,” said the NFIB’s chief economist Bill Dunkelberg in a release. The current tight labor market has been keeping pressure on employers to raise prices to protect their margins — a dynamic that Fed Chair Jerome Powell discussed in recent remarks. The impact of improving supply chainsThe economy has slowed from its red-hot pace after rebounding from the pandemic, but some dynamics that prompted businesses to raise prices have been slowly unwinding.

Persons: “, Kieran Clancy, ”, Bill Dunkelberg, Jerome Powell, Mary Daly Organizations: DC CNN, National Federation of Independent Business, Pantheon, Federal Reserve, Fed, Research, San Francisco Fed Locations: Washington, San

The Fed has raised interest rates by 5 percentage points since March 2022 to bring down the highest U.S. inflation in four decades. "We may end up doing less because we need to do less; we may end up doing just that; we could end up doing more. Fed policymakers are widely expected to deliver a rate hike at their meeting later this month, a move that would bring the policy rate to the 5.25%-5.50% range. That could buttress the case that price pressures are weakening, which in turn could take some pressure off the central bank to hike rates again. Atlanta Fed President Raphael Bostic, speaking at yet another event on Monday, repeated his view that the Fed can be "patient" on rates and allow restrictive policy to bring down inflation without further action by the central bank.

Persons: Mary Daly, Daly, Jerome Powell, Ann Saphir, Michael Barr, Raphael Bostic, Loretta Mester, Mester, Dan Burns, Howard Schneider, Paul Simao Organizations: Federal Reserve, San Francisco Fed, Brookings Institution, San Francisco Federal, REUTERS, New York Fed, Atlanta Fed, Cleveland Fed, Thomson Locations: U.S, San Francisco , California

☆ US dollar drops to three-week low as Fed rate hikes nearly done
▼ + stars: | 2023-07-10 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

In afternoon trading, the dollar index , which tracks the U.S. currency against a basket of major peers, slid 0.3% to 101.98, a three-week low. With U.S. nonfarm payrolls out of the way, attention turns to U.S. inflation data due on Wednesday. The Norwegian crown firmed against the dollar and euro following Norway's inflation data. The Chinese yuan slumped against the dollar after weak inflation numbers in the world's second-largest economy. The weak Chinese data dragged down the Australian and New Zealand dollars, which are often used as liquid proxies for the Chinese yuan.

Persons: gainers, Mary Daly, nonfarm, Erik Nelson, Wells, Nelson, Gertrude Chavez, Dreyfuss, Alun John, Rae Wee, Jamie Freed, Ed Osmond, Emelia, Will Dunham, Sharon Singleton Organizations: Federal Reserve, San Francisco Fed, U.S, CPI, New, New Zealand, Thomson Locations: U.S, Wells Fargo, London, Europe, China, Norwegian, New Zealand, Singapore

All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Fed's interest rate decision later in the month. The second-quarter earnings season kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the quarter, Refintiv data showed. Most megacap growth and technology stocks slid in mid-day trading, with the FANG index (.NYFANG) falling 1.3%. Big banks such as JPMorgan Chase (JPM.N) and Citigroup (C.N) edged up, ahead of reporting earnings on Friday.

Persons: Carl Icahn, Chris Larkin, Morgan Stanley, Michael Barr, Loretta Mester, Mary Daly, Jefferies, JPMorgan Chase, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Federal Reserve, PPI, Traders, Dow Jones, JPMorgan, Icahn Enterprises, Intel, Qualcomm, U.S, Treasury, NYSE, Thomson Locations: U.S, Bengaluru

☆ 10-year Treasury yield rises as investors look to Fed speaker comments, key economic data
▼ + stars: | 2023-07-10 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield, meanwhile, was last trading around 1 basis point lower at 4.923%. The yield on the 10-year Treasury rose Monday as investors awaited the latest comments from U.S. Federal Reserve officials and key inflation data due this week. Various Fed speakers are due to make remarks this week which investors will be scanning for fresh hints about the outlook for interest rates. Cleveland Fed President Loretta Mester and San Francisco Fed President Mary Daly are among those expected to speak about the economic and monetary policy outlook on Monday. Several key economic reports that could in inform the Fed's next policy decisions are also expected this week, including June's consumer price index print on Wednesday.

Persons: Loretta Mester, Mary Daly Organizations: Treasury, U.S . Federal Reserve, Cleveland Fed, San Francisco Fed, Labor Department, Fed Locations: U.S

☆ Morning Bid: Bruised bonds relying on disinflation
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

While that data took the edge off the red-hot private-sector jobs readout the previous day, it left a bruised bond market still wary of further Federal Reserve interest rate rises and praying disinflation may stay its hand after one more hike later this month. Although Treasury bond volatility (.MOVE) backed off six-week highs on Friday, its weekly rise was the biggest since the wild swings around the banking stress in March. Stock futures were in the red again ahead of Monday's open despite gains in Chinese and European bourses. British markets - where the UK government bond market selloff last week had been worse than in Treasuries - remained edgy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, disinflation, Janet Yellen, Joe Biden, Jeremy Hunt, Andrew Bailey, Michael Barr, Mary Daly, Loretta Mester, Raphael Bostic, Ed Osmond Organizations: Wednesday's, Treasury, NATO, HSBC, Sunday . Bank of England, Federal, San Francisco Fed, Cleveland Fed, Atlanta Fed, Bank of England, . Treasury, Graphics Reuters, Reuters, Thomson Locations: U.S, China, Vilnius, British, Treasuries, South Korea, Ukraine

☆ San Francisco Fed president: Silicon Valley Bank’s failure wasn’t our fault
▼ + stars: | 2023-07-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. SVB operated in Daly’s district before the regional bank’s stunningly rapid failure in March, but she noted she doesn’t have a supervising role. Daly said the supervisors at the San Francisco Fed simply report issues to the Fed’s Board of Governors, which is ultimately responsible for fixing any regulatory issues. “My job is to support the supervision that the vice chair of supervision has set out, so how do I do that? The possibility of a rate hike in September remains unclear, though Powell said he wouldn’t take consecutive rate hikes off the table.

Persons: Mary Daly, SVB, ” Daly, Michael Barr, Democratic Sen, Elizabeth Warren, Daly, Jerome Powell, Warren, ”, Barr, it’s, It’s, Powell, Loretta Mester, Mester, “, Raphael Bostic, ” Bostic, ” — CNN’s Elisabeth Buchwald Organizations: DC CNN, Valley Bank, San Francisco Federal Reserve Bank, Brookings Institution, Signature Bank, First Republic Bank, Democratic, San Francisco Fed, Fed’s, of Governors, Fed, San Francisco, Cleveland Fed, University of California, Atlanta Fed, trickling, Cobb County Chamber of Commerce Locations: Washington, Daly’s district, Washington ,, San Francisco Fed, San Diego, Cobb County, Atlanta

☆ Morning Bid: China disinflation a mix of good and bad
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

On the face of it, this implies there is plenty of scope to ease monetary and fiscal policy further. Yet it also underlines the scale of the challenge that Beijing faces in avoiding an outright deflationary spiral. Globally, a deflationary pulse from China could over time help to offset service-driven inflation in developed nations. Disinflation in goods is a major reason analysts expect coming U.S. CPI data to show a slowdown in June. One side effect of the surge in bond yields has been a shake-out of carry trades in the forex market.

Persons: Wayne Cole, Andrew Bailey, Jeremy Hunt, Mary Daly, Loretta Mester, Raphael Bostic, Edmund Klamann Organizations: CPI, Headline, Treasury, Bank of Japan, Bank of England, San, Cleveland, Atlanta, Thomson Locations: Wayne, Beijing, China

MSCI's broad Asia ex-Japan index shed 1.5% last week, its third consecutive week without rising, and is flat for the year. Much of that is due to the sluggishness of China's markets, and key indicators from the region's largest economy on Monday will get the trading week underway. Annual producer price inflation, already the most negative since 2016, is seen falling to -5.0% from -4.6% in May. Chinese banking stocks, measured by the Hong Kong-listed Hang Seng Mainland Banks Index (.HSMBI), plunged 10.5% last week. Reflecting just how poorly China's post-lockdown economy has performed relative to consensus forecasts, Citi's Chinese economic surprises index has now fallen 11 weeks in a row.

Persons: Jamie McGeever, Janet Yellen's, Yellen, Fed's Barr, Daly, Mester, Diane Craft Organizations: U.S, Mainland Banks Index, Treasury, China CPI, PPI, Thomson, Reuters Locations: China, New Zealand, South Korea, Wall, MSCI's, Asia, Japan, Hong Kong, Mainland, underperformance

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