Bloomberg Business -Stocks rise, bonds fall: The MSCI Asia Pacific Index gained 0.9 percent overnight, with Japan’s Topix jumping 1.5 percent as the yen weakened. Equities in Europe were slightly higher, with the Stoxx 600 Index gaining 0.1 percent at 10:18 a.m. London time after falling as much as 0.7 percent earlier in the session.....
Bloomberg Business -Stocks: The Stoxx Europe 600 Index jumped 1.4 percent as a measure of energy shares snapped a two-day decline, tracking oil higher. Fresnillo Plc and Anglo American Plc led commodity producers higher with gains of at least 3.3 percent. L’Oreal rallied 4.8 percent after its quarterly sales beat analysts’ estimates. Standard & Poor’s....
Bloomberg Business -ECB day: The European Central Bank will announce its latest interest rate decision at 7:45 a.m. Eastern Time today. With 100 percent of economist surveyed by Bloomberg expecting no change, investor interest will focus on ECB President Mario Draghi’s press conference beginning 45 minutes later. With doubts remaining over the efficacy of the....
Bloomberg Business -Stocks: The Stoxx Europe 600 Index rose 0.4 percent as of 8:49 a.m. New York time. BP rallied 4.6 percent and Standard Chartered jumped 12 percent in London after the bank reported a decline in loan impairments and capital increased more than some analysts estimated. Futures on the Standard & Poor’s 500 Index....
Bloomberg Business -Commodities: Brent rose 2.2 percent to $48.88 a barrel at 8:35 a.m. in New York, reaching the highest since November, after Friday’s 0.5 percent loss. China’s refineries processed crude at record rates in April, helping ease a supply glut as the number of active rigs in the U.S. declines. West Texas Intermediate climbed....
Bloomberg Business -Fed minutes fallout: Minutes of the April 26-27 Federal Open Market Committee meeting released yesterday showed that central bank officials want to raise rates in June, provided the U.S. economy shows signs that the slowdown in the first quarter was a blip rather than a trend. The reaction in the bond market was....
Bloomberg Business -Europe’s big weekend: Political developments moved apace in Europe over the weekend. In a vote on Sunday the Greek parliament approved additional austerity measures that will help the country unlock further loans from the euro area. Greece’s creditors are preparing to disburse €11 billion ($12.3 billion) once the country successfully completes a review....
Bloomberg Business -Greece deal reached: Another Eurogroup meeting that ran into the early hours of the morning, another deal reached on Greece. This one paves the way for a €10.3 billion ($11.5 billion) aid payment to Athens. Significantly, the International Monetary Fund dropped its push for ‘up front’ debt burden reduction ahead of any further....
Bloomberg Business -Yellen’s conversation: Traders hoping to get away early for their Memorial Day weekend will have to hang around a little longer than they might like today as Fed Chair Janet Yellen is due to give a speech at an event in Massachusetts at 1:15 p.m. ET. The event, billed as a conversation with....
Bloomberg Business -ECB day: The European Central Bank, meeting in Vienna, is due to announce its latest monetary policy decision at 7:45 a.m ET this morning. Every economist surveyed by Bloomberg expects there to be no change in interest rates, with investors likely to focus on ECB President Mario Draghi’s press conference beginning at 8:30....
Bloomberg Business -Yellen’s hawkish/dovish speech: In her last speech ahead of next week’s FOMC meeting, Federal Reserve Chair Janet Yellen managed to walk a line between hawkishness — saying «the federal funds rate will probably need to rise gradually» — and dovishness by not giving any guide as to when that rate rise would come.....
Bloomberg Business -Buy anything: Even if emerging-market stocks are dipping most risk assets, including commodities, developed-market stocks, and emerging-market currencies are making multi-month highs, while haven assets such as gold and government bonds are doing the same. The blame for this apparent market disconnect from the weak global outlook (we’re not even a week past....
Bloomberg Business -Central banks: The Federal Reserve held rates unchanged yesterday, the Bank of Japan held rates unchanged overnight, the Swiss National Bank held rates unchanged this morning. While all of this sounds very boring, markets are moving this morning on the comments that accompanied the decisions, particularly those made by Fed chair Janet Yellen....
Bloomberg Business -Markets surge: The week is starting with a huge rally in equity markets globally. In Asia the MSCI Asia Pacific Index climbed 1.8 percent after a poll showed a swing towards ‘remain’ in the U.K. referendum on European Union membership. Japan’s Topix index closed 2.3 percent higher as the yen weakened. In Europe,....
Bloomberg Business -U.K. voting: Polls in the U.K.’s referendum on membership of the European Union opened at 2 a.m. ET and will close at 5 p.m. ET. Counting of the votes will begin soon after, with the first results expected to start to come in after 7 pm ET. While full view of the likely....