Oil prices remain steady as differing views from the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) cloud the outlook. The dollar tumbles the most in a year as traders bet on the end of US interest rate hikes. The European Central Bank (ECB) sends a stark warning to bank executives with new regulations on environmental, social, and governance (ESG) practices. Top Korean banks are sending staff abroad as won trading goes longer.
Singapore's Sea swings back to a loss after new rivals take a toll. Bond traders shift to aggressive bets on 2024 Federal Reserve cuts after the Consumer Price Index (CPI) report. Tencent and Alibaba earnings hold the key to the $44 billion China tech run. Gold and copper prices rise as cool US CPI eases bets on more Federal Reserve rate hikes. Treasury yields slide as soft CPI boosts the view that the Fed is done hiking rates. Ottawa extends the deadline for underused housing tax. Surveys show that women are less likely than men to request a raise or negotiate salary. Many Canadians are 'uncomfortably close to broke' and stuck in a 'chaotic whirlwind of personal finance stress'. Canadian tech workers make 46% less than their US counterparts
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Bonds Surge on CPI Surprise; Asia Stocks to Jump: Markets WrapBonds surge and Asian stocks are expected to jump as US CPI eases bets on more Fed rate hikes. Gold and copper prices rise. Treasury yields slide as soft CPI boosts the view that the Fed is done hiking rates. Cathie Wood predicts negative US inflation rate in 2024. Nvidia adds $200 billion to its value. Canada to review Glencore deal for Teck Coal Mines. Flybondi plans Brazil expansion after SPAC deal. US court ruling revives fight over solar panel tariff waiver. Ottawa extends deadline for underused housing tax. Surveys show women less likely to request a raise or negotiate salary. Many Canadians are financially stressed and tech workers make 46% less than their US counterparts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Treasury Yields Slide as Soft CPI Boosts View Fed Is Done Hiking RatesTreasury yields slide as soft CPI boosts view Fed is done hiking rates. Cathie Wood predicts US inflation rate will turn negative in 2024. Nvidia adds $200 billion as winning streak set to match record. Canada to 'carefully' review Glencore deal for Teck Coal Mines. Australian dealmakers rush to save $24 billion worth of deals. Israel latest: Gaza hospitals in focus as Biden urges restraint. Meta has more Wall Street fans than ever as rally nears 300%. Alphabet CEO Pichai grilled on record-keeping at Google Play trial. Investors are covering their short bets, sending stocks higher. Ottawa extends deadline for underused housing tax. Women less likely than men to request a raise, negotiate salary: surveys. Many Canadians 'uncomfortably close to broke': MNP. Many Canadians stuck in 'chaotic whirlwind of personal finance stress': Edward Jones. Canadian tech workers make 46% less than U.S.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Asia Stocks Set to Gain as CPI Data, Fedspeak Loom: Markets WrapSummary of the latest news in the financial markets, including Asia stocks, failed trade talks, TSX index gain, FTX employee bonus demand, oil output projections, yen surge, emerging-market stocks, hedge fund activities, housing tax deadline extension, salary negotiation gender gap, and Canadian financial stress.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Bonds Surge on CPI Surprise; Asia Stocks to Jump: Markets WrapSummary of recent news including bond and stock market rallies, Japan's weakening economy, focus on Gaza hospitals, support for battery-management startup, and more.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Gold and Silver Prices Rise on Tamer U.S. Inflation ReportGold and silver prices are solidly higher in midday U.S. trading Tuesday, following a key U.S. inflation report this morning that came in tamer than market expectations and in turn sunk the U.S. dollar index and dropped U.S. Treasury yields. Short covering in the gold and silver futures markets was featured today, along with some perceived bargain hunting in the cash markets. December gold was last up $17.40 at $1,967.50. December silver was last up $0.837 at $23.20. Today’s U.S. data point of the week saw the consumer price index report for October come in at up 3.2%, year-on-year. CPI was forecast at up 3.3%, year-on-year, versus a gain of 3.7% in the September report. The core CPI rate was up 4.0% in October, compared to the consensus forecast of up 4.1% and up 4.1% in the September CPI report. This data falls into the camp of the U.S. monetary policy doves, who want to see the Federal Reserve halt its interest-rate-tightening cycle. U.S. Treasury yields solidly down-ticked on the CPI data and the U.S. dollar index sold off sharply. The U.S.
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