Bond volatility has busted the 60/40 portfolio’s safety valve
The biggest swings in bonds in more than a decade this year are a fresh challenge to the time-honored 60/40 investment strategy.
US Dollar Rides High as Debt Debate Continues Amid Fitch Re-Rating. Higher DXY?
The US Dollar galloped to a 2-month peak today with Treasury yields continuing their climb as the debt ceiling resolution proves elusive and the Fed joins the fracas. New highs for USD?
RBNZ Rate Hike to 5.50, U.K. Inflation Back to 1Digit 8.7, U.S. Flash PMIs Increased Business Activity
PREVIOUS TRADING DAY EVENTS 23 May 2023 Announcements As expected, New Zealands central bank RBNZ increased the Official Cash Rate to 5.50, from 5.25. It also signalled that tightening is probably over, keeping the OCR to a restrictive level to ensure that consumer price inflation returns to the 1 to 3 annual target range; the […]
Oil Prices Rise as much as 1 on Concerns over Tightening Supply
May 24 Reuters Oil prices pared their gains on Wednesday but were still solidly bid, after U.S. inventories and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC output cuts. Brent crude futures last rose 74 cents, or 1, to 77.58 a barrel by […]
South Korea Asks US to Review China Rule for Chip Subsidies
SEOUL, May 24 Reuters South Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as China, a U.S. public filing showed. In March, the U.S. commerce department proposed rules to prevent China and other countries it deems to be of concern […]
RBNZ Signals Done Raising Rates after Hiking to 14Year High
RBNZ sees cash rate staying at 5.5 until mid2024 NZ dollar slumps 1 after rate hike Economists see policy statement as dovish WELLINGTON, May 24 Reuters New Zealand39;s central bank on Wednesday signalled it was done tightening after raising rates by 25 basis points to the highest in more than 14 years at 5.5, ending […]
Chinas Exports to North Korea Surge in April
BEIJING, May 20 Reuters China39;s exports to North Korea soared in April from a year earlier, with wigs and fertiliser among major shipments, Chinese customs data showed on Saturday. Chinese outbound shipments to the isolated country surged 69 yearonyear to 166 million in April, data released by China39;s General Administration of Customs showed. The top […]
IMF says Britain no Longer Faces Recession this Year
LONDON, May 23 Reuters The International Monetary Fund no longer expects a recession in Britain this year, it said on Tuesday, praising steps taken by the government to stabilise the economy and fight inflation and warning against preelection tax cuts. The IMF said gross domestic product now looks set to grow by 0.4 in 2023 […]
Inflation Tightens Grip on UK Services Firms in Worry for BoE Flash PMI
LONDON, May 23 Reuters Companies in Britain39;s services sector increased prices at a rapid pace in May as they saw another month of strong demand, according to a survey that could add to the Bank of England39;s worries about the persistence of high inflation. Measures of inflation for services firms39; costs and their prices edged […]
Japan Manufacturers Mood Turns Positive as Economy Recovers
Big manufacturers index 6 in May, first positive figure in 2023 Servicesector mood at 5month high, outlook hardly unchanged Manufacturers39; sentiment seen up ahead despite uncertainty Reuters Tankan closely correlates with BOJ tankan TOKYO, May 24 Reuters Business sentiment at big Japanese manufacturers turned positive for the first time this year and servicesector morale hit […]