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Banks boost European bourses after Fed signals December rate hike

Banking shares drove European bourses higher on Thursday after the U.S. Federal Reserve signalled a likely December rate hike and announced it would begin trimming its balance sheet in October. The pan-European STOXX 600 <.STOXX> gained 0.3 percent while euro zone stocks and blue-chips <.STOXX50E> followed suit as the U.S. central bank’s optimism on the economy stoked renewed enthusiasm for financials and cyclical sectors in Europe. The sharp jump in the U.S. dollar <.DXY> was also spurring investors to see an end to the euro’s rally which had caused cuts ...

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Seasonal Trends May Favor Bonds Over Stocks for the Rest of September

History fans take note. Seasonal trends for the second half of September have been decidedly negative for the S&P 500 Index and positive for Treasury bonds. Yields on benchmark 10-year notes have declined about 18 basis points in the last two weeks of the month on average since 2009, according to Tom di Galoma, managing director of government trading and strategy at Seaport Global Holdings. The pattern could even continue as the Federal Reserve begins to unwind its massive bond holdings, he said. “You’ve had a somewhat consistent move in ...

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Stocks notch up new high but it’s all about the Fed

World stocks eked out a new record high on Wednesday and the dollar dipped against its major rivals with the focus on a U.S. Federal Reserve policy meeting that may give clues as to whether it will raise interest rates for a third time this year. European shares opened lower after a slight rise on Asian bourses was enough to push MSCI’s World index <.MIWD00000PUS>, which tracks stocks in 46 countries, fractionally higher to a new record. But with the Fed due to unveil its policy decision and economic forecasts ...

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World-Beating Emerging Markets Surge Emboldens Valuation Critics

One of the world’s best trades this year, going long on emerging-market equities, is even troubling the bulls after handing investors twice the return from developed-country stocks. The MSCI Emerging Market Index’s almost 30 percent surge in 2017 has left valuations at the most expensive level since the start of 2010, a signal to JPMorgan Chase & Co. and Deutsche Bank AG that short-term weakness may be imminent despite remaining firmly in the bullish camp more longer term. Improving earnings growth and reform in economies from Brazil to India remain ...

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Global Shares Decline, Investors Play It Safe Ahead of the Fed

Global stocks were broadly lower Tuesday, with investors expected to avoid taking major positions ahead of the Federal Reserve policy meeting later this week. The Stoxx Europe 600 edged down 0.2% in early morning trade, led by losses in the food and beverage sector. Futures pointed to a flat opening for the S&P 500 and the Dow Jones Industrial Average, after both closed at a record Monday. The equities bull run paused Tuesday as investors turned their attention to the Fed’s interest rate decision. The central bank is likely to ...

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Shares tap brakes, dollar reverses as Fed nears

Record-high world stocks braked and the dollar dipped on Tuesday ahead of a two-day meeting of the Federal Reserve after which it is expected to detail plans to shrink its balance sheet and gradually keep lifting U.S. interest rates. Tokyo’s Nikkei <.N225> had surged 2 percent overnight having been closed on Monday when Wall Street and MSCI’s 47-country All World index <.MIWD00000PUS> hit fresh all-time peaks, but elsewhere bourses seemed ready for a breather. London <.FTSE>, Frankfurt <.GDAXI> and Paris <.FCHI> fluttered between flat to slightly lower after days of ...

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Futures to be opened up

CSRC vice-chairman says move is part of country’s larger economic goals China will open up its futures markets to the world, particularly foreign investors, to help the markets align with the national strategies for boosting the real economy, said a senior official from the country’s top capital market regulator. The government will support a futures and derivatives market that is compatible with the country’s economic and social development goals as well as the need for economic risk management, said Fang Xinghai, vice-chairman of the China Securities Regulatory Commission. He made ...

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World stocks reach new peak as Fed-focused week begins

World stocks hit another record high on Monday and the dollar reached an eight-week peak against the yen on expectations the U.S. Federal Reserve will unveil plans this week to trim its bloated balance sheet. With no new actions by North Korea over the weekend, investors pushed Europe’s main share index  to a six-week high. MSCI’s broadest index of Asia-Pacific shares outside Japan had earlier risen to heights not visited since late 2007. That nudged MSCI’s index of world stocks to a new all-time high  while futures prices pointed to ...

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Asia-Pacific markets rally; Kospi posts biggest gain in 4 months

Stock markets across Asia rallied on Monday following fresh record closes on Wall Street, with South Korea’s benchmark index leading gains, for now brushing aside concerns of more tension in the Korean Peninsula. After a dip in risk appetite toward the end of last week, markets regained some upward momentum as global investors sold their safe haven hedges and returned to riskier assets. Korea’s Kospi South Korea’s Kospi SEU, +1.35%  ended up 1.4%, logging its biggest gain since May, propelled by a 4.1% jump in index heavyweight Samsung Electronics 005930, +4.13% On Friday, the Dow ...

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Stocks lure in cash but investors eyeing signs of correction – BAML

Riskier assets were in vogue this week as investors poured $8.9 billion (6.57 billion pounds) into equities, but strategists at Bank of America Merrill Lynch said flows data indicated positioning remained shy of peak levels. Bonds also drew in money for the 26th straight week, as investors hungry to earn a return rushed into U.S. Treasury funds, which enjoyed their biggest inflows in 62 weeks, EPFR figures showed. Though these flows indicated the “Icarus” trade pushing stock markets higher was alive and kicking, BAML strategists, who have been forecasting a ...

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U.S. Equities Go Back on Menu With Biggest Inflows in 13 Weeks

Rediscovering their love for U.S. stock funds, investors added the most money since June during the past week, as the Trump administration plotted strategy for pushing a tax overhaul and the S&P 500 rose to a record. They poured $1.9 billion into the securities in the week to Sept. 14, Bank of America Merrill Lynch said in a research report, citing EPFR Global data. It was just the second week of inflows since June. U.S. Treasury funds saw inflows of $2.2 billion, the biggest in 62 weeks, in keeping with ...

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North Korea missile test leaves stocks unimpressed; yen wilts

Traders paid little attention to the latest missile test by North Korea on Friday, with shares and other risk assets barely moving, gold lower and focus rapidly returning to when and where interest rates will go up. London, Frankfurt and Paris were a shade lower after Pyongyang fired a second missile in as many weeks over Japan , but the test had little effect on what was set to be the best week for European stocks  since July. The yen was also pushed lower to 110.7 per dollar  in the ...

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Don’t fear the euro: investors stick with European stocks

The surging euro has played spoilsport with what had become global investors’ top trade this year — buying European equities – though for some recent weakness in stocks offers a chance to reshuffle portfolios and stay invested. Fund managers, betting on diminishing political risk and confidence that the region was leaving behind years of economic sluggishness and flat-lining corporate profits, pumped money in the first five months of this year into cheaply valued stocks, particularly those that stood to benefit from a global recovery. However, major stock indexes peaked at ...

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The Bull Run in Emerging Stocks May Be Just Getting Started

An overanalysis of geopolitics, “central bank zigzags” and a focus on company earnings are all just distractions when it comes to riding bull markets in emerging stocks. That’s the view of Bank of America Merrill Lynch, based on an analysis of six previous bull markets in developing-nation equities going back to 1976. The current surge is little different from the ones that came before it and emerging shares could double in two years, according to a note from the Wall Street firm by analysts including Ajay Kapur, head of Asia-Pacific ...

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Weak China data knocks global stocks off record highs

World stock prices pulled back from record highs after weaker-than-expected Chinese economic data, while sterling held steady before a Bank of England rate decision later on Thursday. Chinese real estate investment picked up last month, but factory output, fixed asset investment and retail sales in the world’s second-largest economy all fell short of expectations. Shares fell in Asia, knocking MSCI’s All-Country World index, which tracks shares in 46 countries, off a record high hit on Wednesday, when Asian shares hit their highest since 2007 and Wall Street closed at all-time ...

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