Wednesday, 10 June, 2015
(Bloomberg) — The yen surged after Bank of Japan Governor Haruhiko Kuroda said it was hard to see his nation’s currency falling further. Bunds fell and oil rose, while emerging-market stocks ended their longest losing streak since 1990. Japan’s currency jumped 1.2 percent, the most this year, to 122.81 per dollar as of 9:32 a.m. London time. Germany’s 10-year bund yield surpassed 1 percent for the first time since September and oil in New York […] Read More
Tuesday, 09 June, 2015
(Bloomberg) — European stocks dropped for a sixth day, with miners among the biggest losers, and Asian equities retreated on signs of slowing Chinese growth. Oil gained on forecasts for less U.S. shale production. The Stoxx Europe 600 Index declined 0.7 percent at 7:17 a.m. in New York, extending its longest losing streak of the year. The MSCI Asia Pacific Index dropped 0.8 percent, led by slides in technology shares, and Standard & Poor’s 500 […] Read More
Friday, 05 June, 2015
(Bloomberg) — Payrolls climbed in May by the most in five months and worker pay accelerated, showing companies were upbeat about the U.S. economy’s prospects after an early-year slump. The 280,000 advance exceeded the median forecast in a Bloomberg survey and followed a revised 221,000 April increase, figures from the Labor Department showed Friday in Washington. The median forecast called for a 226,000 May gain. The unemployment rate crept up to 5.5 percent as more […] Read More
Friday, 05 June, 2015
(Bloomberg) — Prime Minister Alexis Tsipras raised the stakes in Greece’s showdown with creditors, rejecting demands for more austerity to receive bailout funds and opting for an unconventional deferral of International Monetary Fund payments. Tsipras told German Chancellor Angela Merkel and French President Francois Hollande during a midnight call Thursday that a list of demands needed to unlock bailout funds hammered out earlier this week by officials from the IMF and the euro area can’t […] Read More
Friday, 05 June, 2015
CRT’s Survey results are less bullish than the last month, but the bias was one of neutrality more than anything actionable. Specifically, when asked what they would do if the market moved higher in price post-NFP, only 13% said they’d buy — least since January. 33% want to sell which is just under the 34% average with the balance, 55%, sitting on their hands vs. the average of 50%. When pressed as to what they […] Read More
Thursday, 04 June, 2015
(Bloomberg) — German bonds fell, sending 10-year yields to an eight-month high, as the rout in the global debt market gathered pace. Stocks retreated around the world, commodities dropped and Russia’s ruble led emerging-market currencies lower. Yields on benchmark German bunds climbed six basis points to 0.94 percent by 10:25 a.m. in London, leading a selloff that sent Treasury yields to the highest since October. The euro strengthened against 15 of 16 major peers. The […] Read More
Wednesday, 03 June, 2015
(Bloomberg) — The European Central Bank kept interest rates on hold at record lows as data signaled that the risk of deflation in the euro area is waning. The Governing Council, meeting in Frankfurt, maintained the benchmark rate at 0.05 percent. The deposit rate and the marginal lending rate stayed at minus 0.2 percent and 0.3 percent, respectively. ECB President Mario Draghi will explain the decision at 2:30 p.m., when he’s also due to present […] Read More
Tuesday, 02 June, 2015
(Bloomberg) — Most Asian stocks fell and the yen slid to a 12 1/2-year low amid stronger-than-expected U.S. factory data that boosted expectations the Federal Reserve will raise interest rates. Australia’s dollar rose after its central bank held interest rates at a record low and gave little guidance on future policy moves. The MSCI Asia Pacific Index decreased for a second day, down 0.7 percent by 1:42 p.m. in Tokyo as benchmarks in Australia and […] Read More
Tuesday, 02 June, 2015
(Bloomberg) — Australia left its key interest rate unchanged at a record low and was coy about whether further cuts would be needed to boost growth, sending the currency higher. Central bank Governor Glenn Stevens and his board left the cash rate at 2 percent in Sydney Tuesday, as predicted by traders and economists. “Monetary policy needs to be accommodative” as the economy is likely to operate with spare capacity “for some time yet,” he […] Read More
Monday, 01 June, 2015
(Bloomberg) — U.K. manufacturing expanded less than economists forecast in May as producers struggled to attract demand from foreign markets. A factory Purchasing Managers’ Index rose to 52 from a revised 51.8 in April, Markit Economics said Monday. Economists had forecast an increase to 52.5 from a previous reading of 51.9. A reading above 50 indicates expansion. The report highlights Britain’s reliance on domestic demand while an economic recovery has yet to gain momentum in […] Read More
