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S&P investors sold in May. Now, will they go away?

“Sell in May and go away” is a popular saying on Wall Street that arises from the S&P 500’s historical underperformance from May through October. Given the host of uncertainties fueling fears of a global slowdown, this could be one of the years when the adage holds true. Since many investors take time off during the summer, trading volume tends to ease and appetite for stocks during the period lessens. That in turn can increase volatility, strategists say. Accompanying this year’s summer effect are an escalating trade war between the ...

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Trade fears erase over $2 trillion from global stocks in May

Global stock markets shed over $2 trillion (1.5 trillion pounds) in value in May as the U.S.-China trade conflict escalated, with fears of a trade-related economic slowdown intensifying on Friday after U.S. President Donald Trump threatened Mexico with tariffs. Washington says it will impose a 5% tariff on Mexican goods beginning June 10, which would then rise steadily to 25% until illegal immigration across the countries’ border is stopped. Trump tweeted the decision late Thursday, catching markets by surprise. The following two graphics do not reflect closing prices for May ...

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Loan investors hopeful flurry of buyouts could spark volume pick-up

Loan investors are hopeful that a recent flurry of buyouts could help stoke the pipeline of leveraged loans for the first half of the year as volumes reach historic lows. Leveraged loan volume for the period is on track to be the weakest second quarter showing in seven years. Loan volume stood at just US$128.2bn on May 24, a far cry from US$413.5bn logged for the term in 2018 or the US$363.6bn raised in the second quarter of 2017, according to data from LPC, a unit of Refinitiv. Stunted new ...

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Stocks shiver, bonds surge on Trump’s Mexico threat

Safe-haven sovereign bonds surged and European stocks tumbled on Friday as investors feared President Donald Trump’s shock threat of tariffs on Mexico risked tipping the United States into recession while disappointing China data added to the woes. The yield on Germany’s 10-year government bond – regarded as one of the safest assets in the world – fell to a record low while U.S. yields slipped to near multi-year troughs. Markets also moved aggressively to price in deeper rate cuts by the Federal Reserve in 2019, parts of the curve inverted ...

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Global Stocks and Bond Yields Drop on Mexico Tariff Concerns

Stocks and bond yields lost ground Friday after President Trump threatened to impose escalating tariffs on Mexico, exacerbating concerns about global growth in an already edgy market. In Europe, the Stoxx Europe 600 was down 0.5% in early trade, with Germany’s export-heavy DAX index down 1.4% and the U.K.’s FTSE 100 falling 0.4%. Auto makers and their suppliers, which are highly exposed to trade fluctuations, were among Europe’s biggest losers. The autos and parts subindex of the Stoxx Europe 600 was down 2.5%. The drop followed a mixed session in ...

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Global stocks to keep climbing but trade war a major hurdle – Reuters poll

Global stocks will continue their march to higher ground but an escalation of the U.S.-China trade war poses the biggest risk, Reuters polls of over 200 equity strategists, analysts and fund managers from around the world found. Last year was not a good 12 months for long speculators as only three of the 17 top global indexes ended 2018 higher than they started it. Of the 14 that made losses only five are expected to recoup them by end-2019. However, all 17 indexes polled by Reuters are up so far ...

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Global stocks steady, yields bounce, metals melt again

Markets saw a modest rebound in risk appetite on Thursday, as traders took a break from selling beaten-down stocks and pumping money into safe-haven bonds and the dollar. The end the most turbulent month of the year so far was approaching and amid ongoing and fierce U.S-China trade tensions investors seemed content to square up some positions. European stocks nudged 0.2%-0.5% higher having lost a third of the 15% gain they had been carrying into May, the major currencies paused, while German Bund yields climbed for the first time in ...

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European Stocks, U.S. Futures Rise After Days of Falls

European stocks rose Thursday after Asian markets slipped, while futures signaled Wall Street would gain after days of declines. In Europe, the Stoxx Europe 600 was up 0.4% in early trading, trimming some of the losses it suffered Wednesday. In the U.S., futures pointed to opening rises of 0.3% for the Dow Jones Industrial Average and 0.4% for the S&P 500. In Asia, the Shanghai Stock Exchange was down 0.3% and Hong Kong’s Hang Seng Index dropped 0.2%. Japan’s Nikkei was down 0.3%, amid fears of a prolonged trade dispute ...

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Trade tensions push China CDS rise to four month high

The cost of insuring exposure to China’s sovereign debt rose to the highest level in four months on Wednesday amid a flare up in trade tensions between Washington and Beijing and lingering fears over the health of the world’s second largest economy. China five-year credit default swaps (CDS) rose 4 basis points (bps) from Tuesday’s close to 57 bps, the highest reading since the end of January, data from IHS Markit showed. Source: Reuters (Reporting by Karin Strohecker; Editing by Tom Arnold)

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Global Stocks and Treasury Yields Extend Declines

Global stocks dropped Wednesday as trade tensions and concerns around economic growth continued to dampen risk appetite, sending government bond yields lower. The yield on 10-year U.S. Treasurys extended its decline to 2.232%, from 2.268% on Tuesday, its lowest level since September 2017. Bond yields and prices move in opposite directions. In Europe, the Stoxx Europe 600 was down 1% in early trade, with the U.K’s FTSE 100 down 0.9% and Germany’s DAX 1.1% lower. Luxembourg-based steelmaker ArcelorMittal SA was the biggest loser on the pan-European index, shedding more than ...

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Investors Grow Jittery Over Italy

Italian government bond yields climbed Tuesday amid growing concerns the country is set for another showdown with Brussels over fiscal discipline. The spread between the yield on 10-year Italian government bonds and comparable German debt, which is often taken as the risk-free benchmark, reached Tuesday the highest level since early February at 2.87 percentage points. Yields move inversely to prices. In equities, Italy’s benchmark FTSE MIB index dropped 0.4% Tuesday, while the Stoxx Europe 600 regional index was broadly flat. Italian markets tumbled in 2018 as a new populist government ...

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Resolving trade war is key to boosting emerging markets -Indonesia central bank governor

Indonesia’s central bank governor said on Tuesday he hopes face-to-face talks in a month between the Chinese and U.S. leaders would cool trade tensions, paving the way for a return of capital flows into emerging markets, including Indonesia. A flare-up in the trade spat between the world’s two biggest economies has cut the appetite for global risk, weighing on emerging markets and pushing back analyst expectations on when Bank Indonesia (BI) can cut interest rates. Governor Perry Warjiyo told Reuters in an interview he hoped for “some positive developments” when ...

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Nasdaq pulls out of Oslo Bors battle, handing Euronext victory

Nasdaq withdrew its offer for Oslo Bors, giving pan-European exchange Euronext free rein to pursue its bid for the Norwegian stock market operator after a five-month battle. Euronext secured approval from Norway’s Ministry of Finance this month to buy more than 50% of Oslo Bors for 158 Norwegian crowns per share, effectively blocking Nasdaq’s bid. Both had valued one of Europe’s few independent stock market operators at around 6.8 billion Norwegian crowns ($783 million). Both Euronext, which runs exchanges in Paris, Brussels, Amsterdam, Lisbon and Dublin, and Nasdaq are looking ...

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Global Stocks Post Small Rises

Global stocks posted gentle rises on Tuesday, as U.S. and U.K. investors returned to their desks and weighed developments over the weekend including European elections and continuing concerns about U.S.-China trade. In Europe, the Stoxx Europe 600 was up 0.1% in opening trading. In Asia, the Shanghai Stock Exchange gained 0.6%, Hong Kong’s Hang Seng Index was up 0.2% and Japan’s Nikkei was up 0.4%. Futures pointed to opening gains on Wall Street of 0.1% for both the Dow Jones Industrial Average and the S&P 500. The finance and communications ...

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Trade war has limited impact on China financial markets – regulator

A trade war with the United States has had a limited impact on China’s financial markets and its effects will be “even smaller” in the future, China’s chief financial regulator said in a interview with state television broadcast on Monday. China’s stock and foreign exchange markets have not panicked amid the escalating trade war, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said in the interview with broadcaster CCTV. Guo, who is also the Communist Party official overseeing the People’s Bank of China (PBOC), said the ...

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