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October 22, 2021

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U.S. stock options traders see smooth sailing as Fed taper looms

Reuters
Morning sunlight falls on the facade of the New York Stock Exchange (NYSE) building in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/ NEW YORK, Oct 22 (Reuters) – Options traders are showing little fear that U.S stocks will turn volatile in coming weeks, even......

China Evergrande lines up funds for interest payment to avert default -source

Reuters
Evergrande remits funds for interest payment to trustee -source Company faced end of 30-day grace period for payment on Oct. 23 Evergrande shares jump, drive gains in other developers Next 30-day grace period expires Oct. 29 for Sept. 29 payment HONG KONG/SHANGHAI, Oct 22 (Reuters) – China Evergrande Group (3333.HK)......

EXCLUSIVE BOJ discussing phasing out pandemic support as economy reopens – sources

Reuters
Businessmen wearing protective face masks walk on a pedestrian bridge, amid the spread of the coronavirus disease (COVID-19), in a business district in Tokyo, Japan June 24, 2020. REUTERS/Issei Kato Markets expect extension of scheme’s March deadline Decision on pandemic loan programme due Dec at earliest Some fret of cost......

No ‘Squid Game’: South Korea’s real-life debt trap

Reuters
Passengers wearing masks to avoid contracting the coronavirus disease (COVID-19) walk at Seoul railway station in Seoul, South Korea, October 19, 2021. REUTERS/Kim Hong-Ji/Files SEOUL, Oct 22 (Reuters) – Many small business owners in South Korea recognise themselves in the cash-strapped characters of the wildly popular Netflix (NFLX.O) drama ‘Squid......

U.S. regulators to unveil blueprint to tackle financial climate risks

Reuters
WASHINGTON, Oct 21 (Reuters) – A top U.S. regulatory panel is scheduled on Thursday to unveil recommendations for ensuring the financial system can withstand risks created by climate change, a development that could ultimately lead to new rules and stricter oversight for Wall Street. The report by the Financial Stability......

Hong Kong finance chief says city’s exposure to Evergrande ‘very minimal’ -SCMP

Reuters
The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. REUTERS/Tyrone Siu/File Photo Oct 3 (Reuters) – Hong Kong’s exposure to debt-laden developer China Evergrande Group (3333.HK) is “very minimal” at 0.05%, or HK$14 billion ($1.79 billion), of banking assets,......

Biden says he’ll ‘work like hell’ to pass infrastructure, social spending bills

Reuters
WASHINGTON, Oct 2 (Reuters) – U.S. President Joe Biden said on Saturday he was going to “work like hell” to get both an infrastructure bill and a multi-trillion-dollar social spending bill passed through Congress and plans to travel more to bolster support with Americans. Biden visited the Capitol on Friday......

Analysis: ‘Perfect storm’ lifts dollar over unsettled markets

Reuters
A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo NEW YORK, Oct 1 (Reuters) – A grinding rally in the dollar is picking up speed, fueled by a hawkish tilt from the Federal Reserve, rising Treasury yields and concerns over the......

Equity, bond funds see inflows as markets hit rough patch – BOFA

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS/Brendan McDermid LONDON, Oct 1 (Reuters) – Global equity and bond funds saw modest inflows at the expense of cash and gold funds even as global markets hit a rough......

Asian stocks extend global slide as inflation fears bite

Reuters
A man wearing a protective mask, amid the COVID-19 outbreak, is reflected on an electronic board displaying stock prices outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon Asia-Pac stocks fall 1% after decline on Wall St overnight Concerns about inflation-growth outlook send bonds higher Gold in demand,......

Pelosi says House to vote on infrastructure bill, outcome uncertain

Reuters
WASHINGTON, Sept 30 (Reuters) – The U.S. House of Representatives will vote Thursday on a $1 trillion infrastructure bill championed by President Joe Biden and passed in a bipartisan Senate vote, the chamber’s top Democrat said, even as some in her party threaten to vote against it. Speaker of the......

Analysis: From chips to ships, shortages are making inflation stick

Reuters
A gas burner is pictured on a cooker in a private home in Bordeaux, soutwestern France, December 13, 2012. REUTERS/Regis Duvignau Analysts still view price pressures as temporary But watching supply, worker shortages closely U.S. seen more at risk from wage-induced inflation LONDON, Sept 30 (Reuters) – Soaring gas prices,......

Powell: “Tension” between jobs, inflation is the chief challenge facing Fed

Reuters
Federal Reserve Chairman Jerome Powell testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, U.S., September 28, 2021. Kevin Dietsch/Pool via REUTERS Sept 29 (Reuters) – Resolving “tension” between high inflation and still-elevated unemployment is......

Democrats mobilize to extend government funding, avert shutdown

Reuters
WASHINGTON, Sept 29 (Reuters) – Democrats in Congress on Wednesday mobilized to defuse one of several crises they face this week, saying they would vote to head off an imminent government shutdown before funding expires at midnight on Thursday. The Senate could vote on Wednesday or Thursday to fund the......

Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......

China Evergrande to sell $1.5 bln stake in Shengjing Bank to state firm

Reuters
Shengjing demands repayment of debts due to it Evergrande says sale will help stabilise Shengjing Evergrande faces bond interest payment deadline HONG KONG, Sept 29 (Reuters) – Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group (3333.HK) said on Wednesday it plans to sell a 9.99 billion yuan......

China asking state-backed firms to pick up Evergrande assets – sources

Reuters
An aerial view shows the construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for Guangzhou FC, developed by China Evergrande Group, in Guangzhou, Guangdong province, China. Picture taken September 26, 2021 with a drone. REUTERS/Thomas Suen HONG KONG, Sept 28 (Reuters) – Beijing is prodding government-owned firms and......

EXCLUSIVE JPMorgan’s Dimon cautions a U.S. default would be ‘potentially catastrophic’

Reuters
Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit during a panel discussion at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018. REUTERS/Brian Snyder/File Photo WASHINGTON, Sept 28 (Reuters) – JPMorgan Chase & Co (JPM.N) has......

Two Fed officials depart amid scrutiny over investment trades

Reuters
WASHINGTON, Sept 27 (Reuters) – Two Federal Reserve officials who came under scrutiny for investment trades they made last year announced their retirements on Monday, in a controversy that has already sparked a planned review of the Fed’s ethics rules. Dallas Fed President Robert Kaplan said he will retire on......

PBOC promises to protect consumers as China Evergrande teeters

Reuters
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Housing consumers rights to be safeguarded – PBOC Evergrande shares up, bonds remain at distressed prices EV unit slides after cash warning Wednesday payment deadline looms BEIJING/HONG KONG,......

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