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March 3, 2021

Employment / Unemployment Data / Policy

China’s market rates unlikely to rise rapidly in short term: state media

Reuters
SHANGHAI (Reuters) – China’s market interest rates are unlikely to rise rapidly in the short term despite the recent sharp uptick in U.S. bond yields, the state-run China Securities Journal said on Thursday. Chinese bonds have been “desensitized” to their U.S. counterpart, as economic cycles in the world’s two largest......

Fed’s Daly calls for ‘patience,’ says too-low inflation costly

Reuters
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday pushed back against the fear that easy Fed policy could bring on unwanted inflation,......

Australia job advertisements near 2-1/2 year peak in Feb

Reuters
SYDNEY, March 1 (Reuters) – Australian job advertisements rose to a near 2-1/2 year peak in February, providing another sign massive fiscal and monetary stimulus were working to prop up the country’s economy following a coronavirus pandemic induced recession. Monday’s figures from Australia and New Zealand Banking Group showed total......

US STOCKS-S&P 500, Nasdaq set to bounce back after rout

Reuters
By Devik Jain, Medha Singh (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Tech-focused stocks rebound * Energy stocks slip as oil prices slide * Banks stocks drop as U.S. bond yields ease * Futures: Dow......

China’s factory activity growth likely moderated during Feb holiday lull: Reuters poll

Reuters
BEIJING (Reuters) – China’s factory activity likely grew at a slightly slower rate in February as factories closed for the Lunar New Year holiday, a Reuters poll showed, although growth is expected to remain firm, buoyed by an early resumption of production. FILE PHOTO: A worker wearing a face mask......

Asian markets roiled as bond rout turns ‘lethal’

Reuters
SYDNEY/MIAMI (Reuters) – Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets. FILE PHOTO: A man rides a bicycle past a screen displaying Nikkei share......

Euro zone corporate lending growth slows as monthly flows dry up

Reuters
FILE PHOTO: A woman walks past the European Central Bank (ECB) headquarter as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown and a demand by the German government for more home office possibilities in Frankfurt, Germany, January 28, 2021. REUTERS/Kai Pfaffenbach FRANKFURT (Reuters) – Lending to......

JGB yields jump to multi-year highs on global reflation trade

Reuters
TOKYO, Feb 25 (Reuters) – Yields on Japanese government bonds jumped to multi-year highs on Thursday, tracking a rise in U.S. and European bond yields as investors bet on ultra-easy monetary policy igniting inflation. Growing speculation that the Bank of Japan will widen the trading band for the benchmark 10-year......

Global equities rise as U.S. bond yield fears ease

Reuters
NEW YORK (Reuters) – A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher. FILE PHOTO: The German share......

U.S. new home sales exceed expectations in January

Reuters
WASHINGTON, Feb 24 (Reuters) – Sales of new U.S. single-family homes increased more than expected in January, boosted by historically low mortgage rates and an acute shortage of previously owned houses on the market. New home sales rose 4.3% to a seasonally adjusted annual rate of 923,000 units last month,......

Canadian banks set for earnings decline but investors optimistic about recovery

Reuters
TORONTO (Reuters) – Canadian banks are set to post their fourth straight year-on-year quarterly profit drop when they report results next week, the longest decline streak since the financial crisis, on margin compression and declining commercial lending, but flattening loan loss provisions signal a turning point, investors said. Banks’ profit......

Sudan devalues currency to meet key condition for debt relief

Reuters
KHARTOUM (Reuters) – Sudan’s central bank sharply devalued the currency on Sunday, announcing a new regime to “unify” official and black-market exchange rates in an effort to overcome a crippling economic crisis and access debt relief. The change is a key reform demanded by foreign donors and the International Monetary......

Australian dlr holds ground, hits 2-year high on euro

Reuters
SYDNEY, Feb 18 (Reuters) – The Australian and New Zealand dollars held steady on Thursday as solid domestic data helped offset a broad bounce in the U.S. dollar, while lofty local yields lifted the Aussie to a two-year peak on the euro. The Aussie had levelled out at $0.7761 having......

Fed minutes highlight willingness to steer past coming inflation

Reuters
WASHINGTON (Reuters) – Facing a still-scarred economy that may need an extended time to recover fully, Federal Reserve officials last month debated how to lay the groundwork for the public to accept coming higher inflation, and also the need to “stay vigilant” for signs of stress in buoyant asset markets,......

U.S. producer prices post biggest gain since 2009

Reuters
WASHINGTON (Reuters) – U.S. producer prices increased by the most since 2009 in January as the cost of goods and services surged, suggesting inflation at the factory gate was starting to creep up. FILE PHOTO: People shop at Macy’s Department store in New York City, U.S., March 11, 2019. REUTERS/Brendan......

UK inflation ticks up before expected acceleration in spring

Reuters
By William Schomberg, David Milliken LONDON (Reuters) – British inflation edged up in January as locked-down consumers paid more for food and sellers of furniture and other household goods offered smaller-than-usual New Year discounts to people seeking to spruce up their homes. FILE PHOTO: People walk along Oxford Street as......

Exclusive: Japan’s factory mood turns positive for first time since 2019 – Reuters Tankan

Reuters
TOKYO (Reuters) – Sentiment among Japanese manufacturers turned positive in February for the first time since mid-2019, the Reuters Tankan poll found, lifted by improving overseas demand though caution about the ongoing fallout from the coronavirus persisted. FILE PHOTO: An employee wearing a protective face mask and face guard works......

GRAPHIC-Take Five: Here comes the bull

Reuters
1/GONG HEI FAT CHOY! It’s the Lunar Year of the Ox. Since the same Chinese character can be used to denote a bull, some investors might see that as a good omen for world markets. Higher bond yields could spoil the party at some point, but for now equity markets......

IMF chief economist: G20 should consider SDRs among COVID financing options

Reuters
FILE PHOTO: Gita Gopinath, Economic Counsellor and Director of the Research Department at the International Monetary Fund (IMF), speaks during a news conference in Santiago, Chile, July 23, 2019. REUTERS/Rodrigo Garrido WASHINGTON (Reuters) – The Group of 20 major economies need to focus on broad-based vaccine rollouts and consider all......

Bitcoin extends gains above $47,000 in Asia

Reuters
FILE PHOTO: The logo of the Bitcoin digital currency is seen in a shop in Marseille, France, February 7, 2021. REUTERS/Eric Gaillard SINGAPORE (Reuters) – Cryptocurrencies extended gains in Asia on Tuesday, with bitcoin and ethereum reaching record highs, in the wake of a Tesla Inc investment in bitcoin. Bitcoin......

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