China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of the Pacific hope will ease months of trade tensions. "The two heads of state will have in-depth communication on strategic and long-term issues," a Foreign Ministry spokesperson said on Wednesday, without directly referring to the trade deal the leaders of the world's two largest economies are expected to reach in the port city of Busan. "We are willing to make joint efforts with the United...
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...
China's latest inflation figures are out on Thursday, and they could not be coming at a more fascinating - some might say alarming - time for global bond markets. Long-term yields around the world are shooting higher as investors bet that sticky inflation will force the U.S. Federal Reserve and other central banks to dial down or even halt their rate-cutting cycles. The 30-year UK gilt yield is the highest since 1998, the 30-year U.S. Treasury yield is a whisker from 5%, and the U.S. 'term premium' - the risk premium investors demand for lending long to Uncle Sam rather than rolling over...
Private businesses in the US added 122K workers to their payrolls in December 2024, the least in four months, compared to 146K in November and below forecasts of 140K. "The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains. Health care stood out in the second half of the year, creating more jobs than any other sector", said Nela Richardson, chief economist, ADP. The service-producing sector added 112K jobs, led by education/health services (57K); leisure/hospitality (22K); financial activities (12K);...
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...
China has confirmed that President Xi Jinping will meet with US President Donald Trump in South Korea on Thursday. The meeting is a highly anticipated one that traders and investors on both sides of...