The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting, as expected. This decision leaves the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The European Central Bank (ECB) is expected to maintain the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The decision will be announced on Thursday at 13:15 GMT. The rate...
China's 10-year government bond yield rose to around 1.65%, as the People's Bank of China (PBOC) announced plans to sell 60 billion yuan worth of six-month bills in Hong Kong on January 15. This move was the largest sale since 2018, aimed to absorb liquidity from the market and reduce speculative bets against the yuan. This tightening of liquidity is expected to push up short-term interest rates, adding upward pressure on bond yields. The PBOC's actions reflect its continued efforts to stabilize the currency and manage volatility in the market. Last week, the PBOC unexpectedly paused bond...
The unemployment rate in the United States went down to 4.1% in December of 2024 from 4.2% in the previous month, below market expectations of 4.2%. The number of unemployed individuals decreased by 235,000 to 6.886 million, while employment levels increased by 478,000 to 161.661 million. Meanwhile, the labor force participation rate was unchanged at 62.5%, and the employment-population ratio went up to 60% from 59.8%. Source: Trading Economics
According to the U.S. Bureau of Labor Statistics on Friday (10/1), U.S. nonfarm payrolls rose to 256K in December. This figure is up from the estimate of 164K. (yds) Source: Newsmaker
The People's Bank of China (PBoC) announced on Friday that it would suspend treasury bond purchases in the open market due to a supply shortage, effective immediately. The central bank stated it would resume purchases at an appropriate time based on market conditions. This decision comes amid repeated warnings from the PBoC about bubble risks in China's overheated bond market, where long-term yields have plummeted to record lows. Over the past year, yields on key bonds, including the benchmark 10-year government bond, have reached unprecedented lows as investors flock to safe-haven assets....
The British pound fell to $1.22566, its lowest since November 2023, as concerns over Britain's fiscal and inflation outlook weighed on investor sentiment. The decline came despite a surge in UK bond yields, with the 30-year yield at its highest since 1998 and the 10-year yield at a level not seen since 2008. Higher yields typically boost currencies, but the drop suggests capital flight is being driven by persistent inflation concerns and fiscal instability. Rising borrowing costs are also weighing on Chancellor Rachel Reeves, whose fiscal flexibility is shrinking. In October, Reeves...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...