World markets kicked off November in an upbeat mood, riffing off buoyant company earnings and calmer trade relations while batting away OPEC's planned end to output hikes and this week's Supreme Court hearing on President Donald Trump's tariffs. Following last week's meeting between Trump and China's President Xi Jinping in South Korea, the White House announced Saturday that China would lift export controls on rare earths and end probes into U.S. chip firms. But Trump said AI giant Nvidia's most advanced chips would be reserved for U.S. companies and kept out of China and other...
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...
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...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...