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World equities rise on bounce in U.S., European markets

Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices. Global markets and U.S. stocks were down sharply most of this week as investors grew anxious about the possibility of recession. The S&P 500 index is off nearly 20% from its all-time high in January and was close to a bear market on Thursday. But investors’ fears over whether U.S. Federal Reserve Chair Jerome Powell can accomplish a “soft landing” – bringing ...

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Global equity funds see massive outflows on slowdown fears

Global equity funds witnessed a surge in outflows in the week ended May 11, as fears of an economic slowdown and further tightening by major central banks to tame stubborn inflation spooked investors. In a fifth straight week of net selling, investors liquidated global equity funds worth $10.53 billion, compared with just $1.65 billion worth of net selling in the previous week, according to Refinitiv Lipper. MSCI’s index of world shares plunged to a 1-1/2-year low of 607.4 this week as inflationary pressures raised fears of an economic hard landing. ...

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Wall Street ‘fear gauge’ offers no silver lining as bear market looms

A surprising lack of panic in the U.S. stock market as measured by Wall Street’s “fear gauge” is keeping some investors from calling a bottom on an already bruising equity selloff. Since 1990, the Cboe Volatility Index .VIX has hit an average level of 37 at market bottoms, compared with its most recent level of around 32. Some investors believe that means stocks are yet to see the crescendo of fearful selling that has sometimes accompanied past market bottoms, even though the S&P 500 has already fallen nearly 20% from ...

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Asia week ahead: Key China updates

China’s zero-Covid policy bares its fangs China will release retail sales, industrial production and fixed asset investment data on Monday. The focus will be on the degree of contraction in the retail sales figures, as well as the corresponding extent of growth in infrastructure investment to cushion the economy. These two opposing forces may not net out against each other. In addition, the issue of whether or not (or rather, how) China’s leaders will continue the zero-Covid policy will continue to be a talking point in markets. Following that, the ...

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Stocks in a tailspin, dollar soars as hard landing fears grow

Shares sank to a 1-1/2 year low on Thursday and the dollar hit its highest in two decades, as fears grew that fast-rising inflation will drive a sharp rise in interest rates that brings the global economy to a standstill. Those nerves and the still-escalating war in Ukraine took Europe’s main markets down more than 2% in early trade (EU) and left MSCI’s top index of world shares at its lowest since late 2020 and down nearly 20% for the year. The global growth-sensitive Australian and New Zealand dollars fell ...

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European stocks extend rebound ahead of U.S. inflation data

European shares rose on Wednesday, extending a rebound from two-month lows hit earlier this week, as investors awaited U.S. consumer price data for cues on whether inflation was peaking. The continent-wide STOXX 600 index .STOXX rose 0.4% by 0715 GMT, with real estate .SX86P leading morning gains. Data is expected to show U.S. consumer price index (CPI) cooled to 0.2% in April from 1.2% in March. Surging inflation has raised concerns that the Federal Reserve will raise interest rates aggressively. Among individual stocks, Swedish Match SWMA.ST jumped 9.0% after Marlboro-maker ...

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Markets must face up to tightening financial conditions

Already sitting on double-digit losses this year, stock market investors must brace for more, as the realisation sinks in that the U.S. Federal Reserve intends to tighten financial conditions to get on top of red-hot inflation. Essentially, financial conditions measure how easily households and businesses can access credit, so are critical in showing how monetary policy transmits to the economy. Fed boss Jerome Powell repeated on Wednesday he will be keeping a close eye on them. And they have a bearing on future growth – Goldman Sachs (NYSE:GS) estimates a ...

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Stocks see slight recovery but negative outlook persists

European stock indexes opened higher on Tuesday, with risk appetite showing some recovery after Monday’s sharp falls, but analysts said fears over lower growth were still weighing on markets. Asian equities slipped to their lowest in nearly two years overnight, before trimming losses. A tumble in stock markets so far this month is attributed to a combination of monetary tightening by major central banks and a slowdown in economic growth. Last week central banks in the United States, Britain and Australia raised interest rates and investors girded for more tightening ...

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Stocks stumble on new growth fears, dollar extends rally

Stocks fell again on Monday and the dollar rocketed to a new two-decade high as worries about higher interest rates and a tightened lockdown in Shanghai deepened investors’ fears that the global economy is headed for a slowdown. After a bruising session on Friday in which U.S. stocks sold off sharply as another rise in long-dated U.S. Treasury yields unnerved investors, markets were set for a rocky start to the week, with most indexes in the red. Central banks in the United States, Britain and Australia all raised interest rates ...

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Wild swing roil markets as hawkish Fed unleashes volatility

Volatility has been the watchword for markets in the last several months, as worries over a hawkish Fed, sky-high commodity prices and geopolitical tensions stemming from the war in Ukraine roil asset prices. The S&P 500 was recently down 1.2% on Friday and yields on the benchmark 10-year Treasury were at a near 4-year high of 3.12%, capping off a week that saw massive swings in stocks and bonds in the days following the Fed’s monetary policy meeting. Here are charts showing how volatility has broken out across markets and ...

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Macro hedge funds lead industry gains in April

Hedge funds posted gains of 2.33% in April, mostly driven by macro funds, which managed to perform well amid high volatility, a report by hedge fund data provider HFR showed on Friday. Macro hedge funds, which bet on macroeconomics trends, rose 5.49% in the quarter, according to a macro fund asset weighted index. HFR said results were driven by strategies that benefited from skyrocketing inflation, rising interest rates and the Russia-Ukraine conflict. In the first four months of 2022, macro hedge funds gained 13.37%, while the S&P 500 index declined ...

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Asian equities see large outflows for fourth straight month

Asian equities saw massive foreign capital outflows in April on expectations of a hawkish policy by the U.S. Federal Reserve and concerns over the impact of China’s lockdowns on regional growth. Overseas investors offloaded Asian equities worth $14.22 billion in their fourth straight month of net selling, Refinitiv data for stock exchanges in Taiwan, India, South Korea, the Philippines, Vietnam, Indonesia and Thailand showed. The region’s combined net foreign selling during January to April stood at $45.76 billion, the most in the first four months since at least 2008. Analysts ...

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Stocks cower as dollar marches to two-decade highs

The U.S. dollar hit 20-year highs and world stocks fell towards their lowest in over a year on Friday as markets anticipated more U.S. interest rate rises, while Asian stocks fell on worries about the hit to growth from China’s zero-COVID policy. The U.S. currency was heading for its fifth straight week of gains after the Federal Reserve raised rates by 50 basis points this week. The market is pricing in a more than 90% chance of a 75 bps hike in June, according to Refinitiv data. U.S. payrolls data ...

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Shares charge higher after Fed hike, dollar licks wounds

Global equity markets were still on the charge on Thursday on relief that the biggest hike in U.S. interest rates in more than two decades hadn’t been even sharper. London, Paris and Frankfurt were up between 1.3% and 2% in early European trading amid collective cheers at Wednesday’s 50 basis point Federal Reserve rate hike and its accompanying signals that 75 bps moves were now unlikely. It kept European government bond yields largely in check ahead of what is expected to be the Bank of England’s fourth hike since December, ...

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Banks, upbeat earnings lift European shares

European stocks edged higher on Tuesday after a string of upbeat earnings reports and as banks rose on government bond yields hitting fresh highs in anticipation of quicker interest rate hikes. The pan-European STOXX 600 index climbed 0.6% by 0716 GMT, with banks rising 1.4% to lead sectoral gains. Wall Street ended a seesaw session higher on Monday as the U.S. benchmark 10-year Treasury yield hit 3% for the first time since December 2018 ahead of a Federal Reserve meeting this week, where policymakers are expected to announce a 50 ...

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