Analysts are transitioning from inflation and interest-rate worries to concerns over weakening growth and falling profitsSingapore — Asia’s stock markets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the US, and investors curbed their enthusiasm about China’s reopening.
Facebook parent Meta also dragged down markets, with shares sliding 6.8%, after reports that EU regulators have ruled the company will need to ask users before running advertising based on their personal data.In the US, big banks are bracing for a worsening economy in 2023 as inflation and rate rises threaten consumer demand, with top executives at Goldman Sachs, JPMorgan and Bank of America all sounding downbeat in remarks on Tuesday.
The yield on benchmark 10-year US treasuries fell 8.6 basis points to 3.513% overnight and was last at 3.5442%. That is more than 80 bps below the two-year yield as investors anticipate high rates hurting growth. “But execution matters,” he added. “And there are very few precedents for what the country is looking to achieve ... the world will need to be braced for the inflation implications, which have accompanied every major reopening.”
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Castle Lager campaign champions township business growthSPONSORED | “Our townships have completely transformed, this is where good is happening, it is a place of excellence, where people are choosing to do business in their local neighbourhoods — “ Wendy Bedforth, CastleLagerSA brand director. KeepItWithin
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: News24 - 🏆 4. / 80 Read more »