Global shares rose on Monday as oil prices retreated from a six-month peak, while U.S. bond yields hit their highest since late November as investors continued to rein in bets on Federal Reserve interest rate cuts. Europe’s STOXX 600 index was 0.05% higher in early trading after falling 1.2% the previous week, while Germany’s DAX was up 0.38% but Britain’s FTSE 100 was 0.19% lower. U.S. S&P 500 futures MESC1> were down 0.2% after the index fell 0.9% last week and Nasdaq futures were off by a similar amount. Stock ...

Markets are looking for confirmation from the European Central Bank that a June rate cut is really coming, though oil is on the rise again, clouding the inflation picture – and giving policy makers in Canada, New Zealand and Korea food for thought. China gears up to release a deluge of key data and U.S. banks kick off the earnings season. Here’s your week ahead primer in world markets from Yoruk Bahceli in Amsterdam, Lewis Krauskopf in New York, Kevin Buckland in Tokyo, and Dhara Ranasinghe and Amanda Cooper in ...

Poland: Current account surplus from strong trade in goods Current account (Feb): €797m We forecast a €797m surplus for Poland’s current account in February 2024, but it will be smaller than in February 2023 (€147m) amid a deterioration in the foreign income balance. As a result, the cumulative 12-month current account surplus will narrow to 1.3% of GDP, down from 1.4% of GDP after January this year. Still, we expect a solid surplus in trade in goods, and we hope to see positive annual dynamics for both exports and imports. ...

U.S. Treasury Secretary Janet Yellen said on Saturday that she and Chinese Vice Premier He Lifeng agreed to launch exchanges on balanced growth in domestic and global economies, an effort she said partly aimed at addressing U.S. concerns about China’s excess manufacturing capacity. After two days of economic talks in China’s southern export hub of Guangzhou, Yellen said she and He also agreed to start a forum to cooperate on anti-money laundering efforts in their respective financial systems. The exchanges “will facilitate a discussion around macroeconomic imbalances, including their connection ...

Investors trimmed their holdings in global equity funds in the week ending April 3 as they weighed the possibility of the Federal Reserve delivering fewer interest rate cuts than expected, amid strong U.S. economic reports and solid labor demand. LSEG data showed investors shed a net $2.08 billion worth of global equity funds during the week, marking the first weekly net outflow since Feb. 21. This cautious stance came as the ISM report indicated U.S. manufacturing growth in March, the first since September 2022, lessening the likelihood of imminent rate ...

US: Core CPI print to be 0.3% MoM The highlight over the week ahead in the US will be March consumer price inflation data. This has been running consistently hot in recent months, with housing components remaining particularly sticky while sharply higher insurance costs and portfolio management fees have been contributing to elevated supercore readings. We expect the core CPI print to be 0.3% month-on-month versus 0.4% in February – but this is still around double the 0.17% MoM rate that would, over 12 months, bring the YoY rate down ...

China inflation likely to moderate China will publish its CPI inflation data next week, and a decline in food prices post-Chinese New Year will likely lead to inflation pulling back to around 0.4% year-on-year. Trade data will also be released on Friday. Positive momentum from the first few months, typical seasonality, and a recovery of export orders in the March PMI will likely lead to sequential solid growth – but YoY numbers may look poor due to a strong March 2024, potentially dropping to negative levels again before recovering in ...

Asian stocks saw robust demand from overseas investors in March, marking their best quarter for foreign inflows in over three years, amid prospects of accommodative monetary policies from major central banksand positive Chinese economic indicators. Data from stock exchanges across India, South Korea, Taiwan, Indonesia, the Philippines, Thailand, and Vietnam showed that foreigners bought a net $8.53 billion of regional equities last month. For the quarter, inflows totalled $18.57 billion – the highest since December 2020. Last month, the Swiss National Bank surprised markets with an early rate cut, while ...

Hedge funds capped the first quarter with gains across different strategies, as a rally in stocks, some commodities and the dollar helped the industry weather a less shiny period for bonds, investors said. Fundamental equities long/short hedge funds were up 6.28% in the first quarter, while systematic long/short funds posted gains of 11%, according to a Goldman Sachs’ prime brokerage report that tracks hedge funds globally. Long/shortfunds focused on technology rose 11.3% on average, it added. Light Street Capital Management’s Mercury gained 35.3%, while Whale Rock Capital Management’s long/short was ...

Tech stocks saw inflows of $18.6 billion in the first quarter of the year, the third largest quarterly inflow on record, and also attracted funds in the past week, along with large flows to cash and bonds, Bank of America Global Research said Friday. Cash equivalent money market funds saw $81.8 billion of inflows in the week to Wednesday, the largest in 13 weeks, BofA said in its weekly roundup of flows in and out of world markets, which cites data from EPFR. The bank attributed that inflow to quarter-end ...

Global shares retreated on Friday as geopolitical tension kept crude oil above $90 a barrel ahead of U.S. payroll numbers, and hawkish central bankers raised doubts about the pace and timing of interest rate cuts. The threat of supply disruptions from prolonged conflict in the Middle East kept Brent oil futures above $90 a barrel, a level not seen since last October, with prices heading for their second weekly gain. [O/R] The dollar firmed against peer currencies after rebounding from a two-week low, while gold’s rally to record highs on ...

Strong economic data and worries over sticky inflation are pushing investors to reassess how deeply the Federal Reserve will be able to cut interest rates this year, fueling weakness in the U.S. government bond market. Yields on the benchmark 10-year Treasury – which move inversely to bond prices – hit 4.429% on Wednesday, their highest level in over four months. The selloff comes amid a broad shift in sentiment on the timing and magnitude of expected rate cuts. Futures markets on Wednesday showed investors are betting the Fed will lower ...

UK investors put a record 6.97 billion pounds ($8.82 billion) into equity funds in the first quarter, led by demand for North American equities, fund network Calastone said on Thursday. North American equity funds saw record inflows of 5.72 billion pounds over the quarter, Calastone said in a statement. “The U.S. earnings recession is over – profits are once again on the up and that seems to be the main catalyst driving fund inflows and higher share prices,” said Edward Glyn, head of global markets at Calastone. Global and emerging ...

Global securities watchdog IOSCO on Thursday proposed detailed guidance on how regulators should supervise stock exchanges more closely to negate risks from changes in business practices. “These may give rise to potential risks and challenges concerning the regulatory functions and responsibilities of exchanges, as well as supervisory issues,” IOSCO, which comprises securities regulators from across the world, said in a report. Source: Reuters (Reporting by Huw Jones, Editing by David Goodman)

Wall Street is bracing for a potential bout of stress in money markets by putting some cash on the side ahead of U.S. tax day, when high tax-related outflows could hurt market liquidity. Tax season, which culminates on April 15 when income tax returns are to be submitted to the U.S. federal government, is typically associated with a drop in financial sector liquidity as individuals draw down cash from bank deposits and money market funds to pay their taxes. Liquidity, measured by bank reserves at the Federal Reserve and the ...