Russia raised its key interest rate by 200 basis points to 21% on Friday, citing consumer price increases considerably above its forecast and warning of ongoing high inflation risks in the medium term. This move exceeded the 100 basis-point hike that analysts had expected, bringing the institution’s benchmark rate to its highest level since February … Read more
(Bloomberg) — Support for Japanese Prime Minister Shigeru Ishiba’s ruling coalition is continuing to soften in the runup to this coming weekend’s election, two polls showed, indicating the possibility that the vote may result in a weakened and unstable administration. Most Read from Bloomberg A Kyodo News poll showed 22.6% of respondents backing Ishiba’s ruling … Read more
Investing.com– Most Asian currencies were trading within a narrow range on Monday, with the yuan holding steady after the People’s Bank of China cut interest rates slightly more than anticipated. Meanwhile, the dollar remained close to recent highs. Regional currencies had been under pressure in recent weeks as expectations of smaller U.S. interest rate cuts … Read more
By Jamie McGeever (Reuters) – A preview of what to expect in Asian markets on Monday. As the trading week kicks off in Asia, the global market sentiment remains bullish, driven by the strong performance of U.S. stocks. However, local sentiment is more cautious due to concerns about China’s underlying economic issues. The People’s Bank … Read more
A sell-off in Treasuries has strengthened the dollar and left equities mixed as new signs of economic strength have led traders to lower their expectations for US rate cuts. In Japan, shares rose with the help of a weaker yen, while equities in Australia and South Korea fell. US futures remained flat after the S&P … Read more
(Bloomberg) — The largest bond market in the world experienced a decline after a strong retail sales report led traders to reduce their expectations for Federal Reserve interest rate cuts this year. The Treasury yields rose as the positive economic data raised doubts about the speed at which the central bank would ease its policy. … Read more