US futures point to higher open ahead of Powell’s speech

U.S. stock index futures were higher Friday morning, as market participants awaited a key speech from the Federal Reserve’s top official. ET, Dow futures rose 108 points, indicating a positive open of more than 92 points. Futures on the S&P and Nasdaq were both slightly higher. Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided U.S. central bank in years. In corporate news, Foot Locker, Buckle and Red Robin Gourmet Burgers are expected to report th


U.S. stock index futures were higher Friday morning, as market participants awaited a key speech from the Federal Reserve’s top official. ET, Dow futures rose 108 points, indicating a positive open of more than 92 points. Futures on the S&P and Nasdaq were both slightly higher. Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided U.S. central bank in years. In corporate news, Foot Locker, Buckle and Red Robin Gourmet Burgers are expected to report th
US futures point to higher open ahead of Powell’s speech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam meredith
Keywords: news, cnbc, companies, futures, powells, central, powell, points, market, point, higher, ahead, fed, expected, rate, open, speech, morning


US futures point to higher open ahead of Powell's speech

U.S. stock index futures were higher Friday morning, as market participants awaited a key speech from the Federal Reserve’s top official.

At around 03:00 a.m. ET, Dow futures rose 108 points, indicating a positive open of more than 92 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to the U.S. central bank’s annual Jackson Hole symposium, with Fed Chairman Jerome Powell expected to address an audience of policymakers and economists at around 10:00 a.m. ET.

Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided U.S. central bank in years.

It comes as both the Fed and Powell are under an unprecedented siege from an angry president, while a speech that fails to assure investors the U.S. central bank will continue to cut interest rates could create even more market volatility.

As of Friday morning, Fed funds futures were pricing a likelihood of almost 90% for a 25 basis point rate cut at the September meeting, and between one or two further quarter-point rate cuts between then and the end of the year.

On the data front, new home sales for July will be released at around 10:00 a.m. ET.

In corporate news, Foot Locker, Buckle and Red Robin Gourmet Burgers are expected to report their latest quarterly results before the opening bell.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam meredith
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‘The lungs of the Earth are in flames’: Brazil faces global backlash over Amazon fires

The Amazon rainforest, often referred to as the lungs of the Earth, has been ravaged by a record number of fires this year, sparking global outrage over Brazil’s environmental policies. Literally,” Macron said via Twitter on Thursday, highlighting that the world’s largest rainforest produces 20% of the world’s oxygen. The Amazon must be protected,” UN Secretary-General Antonio Guterres said via Twitter, adding that he was “deeply concerned” about the fires. Richard Mello, head of the WWF Amazon


The Amazon rainforest, often referred to as the lungs of the Earth, has been ravaged by a record number of fires this year, sparking global outrage over Brazil’s environmental policies. Literally,” Macron said via Twitter on Thursday, highlighting that the world’s largest rainforest produces 20% of the world’s oxygen. The Amazon must be protected,” UN Secretary-General Antonio Guterres said via Twitter, adding that he was “deeply concerned” about the fires. Richard Mello, head of the WWF Amazon
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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam meredith
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'The lungs of the Earth are in flames': Brazil faces global backlash over Amazon fires

The Amazon rainforest, often referred to as the lungs of the Earth, has been ravaged by a record number of fires this year, sparking global outrage over Brazil’s environmental policies. World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires, while satellite images of dark smoke billowing out of the Amazon has been shared on social media by space agency NASA. An intensifying wave of international criticism comes shortly after Brazil’s research center, the National Institute for Space Research (INPE), reported that it had detected 72,843 fires in the world’s largest rainforest so far this year. That marked an 84% rise when compared to 2018 and the highest since records began in 2013.

What have world leaders said?

French President Emmanuel Macron has described the phenomenon as an “international crisis” that needs to be top of the agenda at this weekend’s Group of Seven (G-7) summit. “Our house is burning. Literally,” Macron said via Twitter on Thursday, highlighting that the world’s largest rainforest produces 20% of the world’s oxygen. Canadian Prime Minister Justin Trudeau said he “couldn’t agree more” with Macron’s call to raise the issue at the G-7 summit, saying world leaders needed to act for the Amazon. In response, Brazil’s firebrand right-wing President Jair Bolsonaro has angrily told foreign powers not to interfere with his country’s sovereignty, despite admitting his country is not equipped to fight the fires. He also accused non-governmental organizations (NGOs) of starting some of the fires, but admitted he had no evidence to support this claim. On Twitter, Bolsonaro singled out Macron and accused him of sensationalizing the issue for personal political gain. The long-time climate sceptic added that the prospect of the Amazon fires being discussed at the upcoming G-7 summit, without the participation of any Amazonian countries, evoked a “misplaced colonialist mindset.”

What makes the Amazon unique?

The Amazon rainforest produces around 20% of the world’s fresh water and serves as the habitat of more than 34 million people, according to the World Wide Fund for Nature (WWF). It covers roughly 5.5 million square kilometers — about half the size of Europe. “We have so much to lose with the Amazon burning and yet not enough action is being taken to stop its destruction!” the WWF said via Twitter. The Amazon is critical in absorbing the planet’s carbon dioxide — making it a vital bulwark against an intensifying climate crisis.

Brazil’s President Jair Bolsonaro speaks during a discussion on US-Brazil relations at the US Chamber of Commerce in Washington, DC on March 18, 2019. Mandel Ngan | AFP | Getty Images

The United Nations (UN) has recognized climate change as “the defining issue of our time,” with a recent report calling the crisis “the greatest challenge to sustainable development.” “In the midst of the global climate crisis, we cannot afford more damage to a major source of oxygen and biodiversity. The Amazon must be protected,” UN Secretary-General Antonio Guterres said via Twitter, adding that he was “deeply concerned” about the fires. Actor and environmental activist Leonardo DiCaprio said in an Instagram post published Thursday that “the lungs of the Earth are in flames,” calling on his 34 million followers to become more environmentally conscious.

What caused these fires?

Although fires in the Amazon basin are a regular and natural occurrence during the dry season at this time of the year, environmental activists have blamed the sharp rise on farmers setting alight clear land to pasture. Richard Mello, head of the WWF Amazon Programme, told the BBC that the fires were “a consequence of the increase in deforestation seen in recent figures.”

Smoke billows during a fire in an area of the Amazon rainforest near Porto Velho, Rondonia State, Brazil, Brazil August 21, 2019. REUTERS | Ueslei Marcelino


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam meredith
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G-7 summit set to end without an agreement for the first time in history

A view shows the Hotel du Palais summit venue ahead of the G7 Summit in the French coastal resort of Biarritz, France, August 21, 2019. REUTERS | Regis DuvignauThe Group of Seven (G-7) summit is set to end without a joint communique for the first time in its 44-year history, after French President Emmanuel Macron decided to abandon the tradition citing “a very deep crisis of democracy.” France will want to avoid another ‘G-6+1 summit’Last year, at the G-7 summit in Ottawa, Canada, Trump threw ty


A view shows the Hotel du Palais summit venue ahead of the G7 Summit in the French coastal resort of Biarritz, France, August 21, 2019. REUTERS | Regis DuvignauThe Group of Seven (G-7) summit is set to end without a joint communique for the first time in its 44-year history, after French President Emmanuel Macron decided to abandon the tradition citing “a very deep crisis of democracy.” France will want to avoid another ‘G-6+1 summit’Last year, at the G-7 summit in Ottawa, Canada, Trump threw ty
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Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sam meredith
Keywords: news, cnbc, companies, trade, summit, set, g7, end, joint, history, trump, president, french, communique, agreement, france, united


G-7 summit set to end without an agreement for the first time in history

A view shows the Hotel du Palais summit venue ahead of the G7 Summit in the French coastal resort of Biarritz, France, August 21, 2019. REUTERS | Regis Duvignau

The Group of Seven (G-7) summit is set to end without a joint communique for the first time in its 44-year history, after French President Emmanuel Macron decided to abandon the tradition citing “a very deep crisis of democracy.” It will be the first time since meetings began in 1975 that the forum has failed to end a summit without an agreed statement, laying bare the deepening rift between heads of state from seven of the world’s largest economies. Speaking to reporters ahead of the G-7 meeting at a news conference in Paris on Wednesday, Macron said an attempt to produce a joint communique would most likely be a “pointless” exercise. He referenced President Donald Trump’s decision to withdraw from a landmark climate agreement restricting global efforts to cut carbon as one example of why it would be difficult to display a united front.

The annual summit brings together the leaders of Britain, Canada, France, Germany, Italy, Japan and the United States. It will be held in the seaside town of Biarritz in southwest France from Saturday through to Monday. Securing an agreement at the annual summit has proved increasingly difficult in recent years, partly because the U.S. president has expressed a preference for bilateral trade pacts over multilateral agreements. “It is impossible to predict what the U.S. will do — we might be in for some surprises from Trump,” Agathe Demarais, global forecasting director at the Economist Intelligence Unit (EIU), told CNBC via telephone. “I’m not sure what he is going to do, maybe Trump doesn’t know either,” Demarais said, citing the U.S. as a notable exception in its approach to handling disputes.

France will want to avoid another ‘G-6+1 summit’

Last year, at the G-7 summit in Ottawa, Canada, Trump threw typically stage-managed proceedings into disarray. The U.S. president made an early exit from the meeting, refused to sign the collective final statement and engaged in personal insults over trade with Canadian Prime Minister Justin Trudeau. The summit appeared to demonstrate fraying ties between the U.S. and its traditional allies, with one photo seemingly summing up divisions in the room. The image, which appeared on German Chancellor Angela Merkel’s Instagram account, showed world leaders gathered around Merkel on one side of a table, while a seated Trump looked on with his arms folded.

German Chancellor Angela Merkel deliberates with U.S. President Donald Trump during the G-7 summit in Canada on June 9, 2018. Jesco Denzel | Bundesregierung | Getty Images

From a French perspective, the hosts will “want to try to manage this G-7 so it doesn’t turn into another embarrassing mess with everyone arguing with each other,” Constantine Fraser, European political analyst at the TS Lombard research group, told CNBC via telephone. “I think it is quite possible” there will be no joint communique at the end of this year’s summit, Fraser said, before adding the statement was now little more than an “increasingly desperate fig leaf.” “The G-7 is no longer for the world’s richest countries to show a united front… And the lack of a joint communique is a recognition of where we are at,” Fraser said. French media dubbed last year’s gathering in Ottawa as the “G-6+1 summit,” citing Washington’s refusal to sign the final statement.

Tech tax

Alongside environment and trade, analysts expect Brexit, inequality, the possible reinstatement of Russia and universal taxation on digital giants to dominate proceedings. Late last month, Trump warned he “might” slap tariffs on French wine in response to the country’s new tax affecting technology companies. “This is a very, very contentious topic. France wants to impose this digital tax but the problem is most digital giants are American,” the EIU’s Demarais said.

French President Emmanuel Macron pictured before a meeting at the Elysee presidential palace in Paris on July 22, 2019. LUDOVIC MARIN | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: sam meredith
Keywords: news, cnbc, companies, trade, summit, set, g7, end, joint, history, trump, president, french, communique, agreement, france, united


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Treasury yields climb away from record lows

How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more


How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more
Treasury yields climb away from record lows Cached Page below :
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Treasury yields climb away from record lows

How the Chinese yuan is likely to perform in three trade war…

The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…

Asia FX

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: sam meredith
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Treasury yields rebound from historic lows

Treasury yields rose on Friday, climbing back from their historic lows hit on Thursday, easing fears a global slowdown could tip U.S. economy into a recession. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.588%, while the yield on the 30-year Treasury bond was also higher at around 2.047%. Yields hit a high after a Der Spiegel article said that Germany would boost spending by issuing more debt. The benchmark Treasury yield briefly broke


Treasury yields rose on Friday, climbing back from their historic lows hit on Thursday, easing fears a global slowdown could tip U.S. economy into a recession. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.588%, while the yield on the 30-year Treasury bond was also higher at around 2.047%. Yields hit a high after a Der Spiegel article said that Germany would boost spending by issuing more debt. The benchmark Treasury yield briefly broke
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Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: sam meredith, yun li
Keywords: news, cnbc, companies, rebound, yields, note, historic, trade, spending, trump, treasury, yield, policy, hit, lows, slowdown, higher


Treasury yields rebound from historic lows

Treasury yields rose on Friday, climbing back from their historic lows hit on Thursday, easing fears a global slowdown could tip U.S. economy into a recession.

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.588%, while the yield on the 30-year Treasury bond was also higher at around 2.047%.

Yields hit a high after a Der Spiegel article said that Germany would boost spending by issuing more debt.

“In terms of the Germans, what has been brewing is that they are prepared to introduce deficit spending,” said Quincy Krosby, chief market strategist with Prudential Financial. “This is fiscal policy. It’s always been about monetary policy. Now there are discussing fiscal spending. This is a change for them.”

A protracted trade war between the world’s two largest economies and growing fears about a possible global economic slowdown prompted the 30-year Treasury bond yield to fall below 2% for the first time ever in the previous session.

The 10-year note also slipped below 1.5% on Thursday — registering a three-year low.

The benchmark Treasury yield briefly broke below the 2-year rate on Wednesday, flashing a recession warning that send stocks tumbling. As of Friday, the curve steepened and was no longer inverted.

President Donald Trump said Thursday that he believed the U.S.-China trade dispute would be relatively short, adding China wanted to make a trade deal.

“September, the meeting is still on as I understand it, but I think more importantly than September, we’re talking by phone, and we’re having very productive talks,” Trump told reporters on Thursday.

His comments came after Beijing promised it would counter the latest tariffs on $300 billion of Chinese goods but urged the U.S. to meet halfway in order to secure an agreement.

On the data front, housing starts and building permits for July will be released at 8:30 a.m. ET, with consumer sentiment figures for August set to follow slightly later in the session.

There are no major U.S. Treasury auctions expected on Friday.

— CNBC’s Patti Domm contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: sam meredith, yun li
Keywords: news, cnbc, companies, rebound, yields, note, historic, trade, spending, trump, treasury, yield, policy, hit, lows, slowdown, higher


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10-year Treasury yield falls to three-year low below 1.5%, 30-year rate declines to record low

Investors clamored into the safety of U.S. government bonds, sending the 30-year Treasury bond yield below 2% for the first time ever and the 10-year Treasury note yield below 1.5%, a three-year low. The 2-year Treasury yield was 1.467%, its lowest level since Oct. 2017. The inversion of this key part of the yield curve has previously been a reliable indicator of economic recessions. “The yield curve inverted which created a temporary ‘pile on’ effect in the bond markets,” wrote Tom Essaye of Th


Investors clamored into the safety of U.S. government bonds, sending the 30-year Treasury bond yield below 2% for the first time ever and the 10-year Treasury note yield below 1.5%, a three-year low. The 2-year Treasury yield was 1.467%, its lowest level since Oct. 2017. The inversion of this key part of the yield curve has previously been a reliable indicator of economic recessions. “The yield curve inverted which created a temporary ‘pile on’ effect in the bond markets,” wrote Tom Essaye of Th
10-year Treasury yield falls to three-year low below 1.5%, 30-year rate declines to record low Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: maggie fitzgerald sam meredith, maggie fitzgerald, sam meredith
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10-year Treasury yield falls to three-year low below 1.5%, 30-year rate declines to record low

Investors clamored into the safety of U.S. government bonds, sending the 30-year Treasury bond yield below 2% for the first time ever and the 10-year Treasury note yield below 1.5%, a three-year low.

Around 2:00 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, hit a three-year low of 1.475%, while the yield on the 30-year Treasury bond was at 1.944%, after earlier falling to 1.941% for the first time ever. The 2-year Treasury yield was 1.467%, its lowest level since Oct. 2017.

The historic drop in long-term U.S. bond yields comes shortly after interest rates on the closely watched 10-year and 2-year Treasurys inverted. The inversion of this key part of the yield curve has previously been a reliable indicator of economic recessions.

“The yield curve inverted which created a temporary ‘pile on’ effect in the bond markets,” wrote Tom Essaye of The Sevens Report. “We have absolutely not seen what we wanted to out of the Fed. We had hoped for a rally in the 10-year yield and a widening of the 10s-2s spread. The exact opposite has occurred, and at this point currency and bond markets are no longer flashing ‘caution’ signs on the U.S.-global economy and risk assets, they are flashing a ‘warning’ sign —loudly.”

That part of the curve was positively sloping again on Thursday but only slightly.

“The 30-year yield in itself is historic given that it is moving to massive lows but the curve inversion is typically the signal, one of the better signals you can get, that there is increased risk of recession,” said Bank of America technical strategist Stephen Suttmeier.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: maggie fitzgerald sam meredith, maggie fitzgerald, sam meredith
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US futures point to slightly higher open

U.S. stocks were set to open slightly higher Wednesday morning. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session. Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher


U.S. stocks were set to open slightly higher Wednesday morning. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session. Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher
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Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, delayed, dow, higher, slightly, tariffs, open, futures, points, trade, point, stocks


US futures point to slightly higher open

U.S. stocks were set to open slightly higher Wednesday morning.

At around 03:10 a.m. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session.

The United States Trade Representative announced Tuesday that certain products including clothing and cellphones were being removed from the tariff list based on “health, safety, national security and other factors” and will not face additional tariffs of 10%. Other tariffs will be delayed to Dec. 15 from Sep. 1 for certain articles, it said.

President Donald Trump said Tuesday that the move was designed to avoid any potential impact on holiday shopping ahead of Christmas season. He added China would very much like to make a trade deal.

Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, delayed, dow, higher, slightly, tariffs, open, futures, points, trade, point, stocks


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US futures point to slightly higher open

U.S. stocks were set to open slightly higher Wednesday morning. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session. Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher


U.S. stocks were set to open slightly higher Wednesday morning. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session. Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher
US futures point to slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, delayed, dow, higher, slightly, tariffs, open, futures, points, trade, point, stocks


US futures point to slightly higher open

U.S. stocks were set to open slightly higher Wednesday morning.

At around 03:10 a.m. ET, Dow futures dipped 23 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to global trade developments, after the U.S. delayed tariffs on some Chinese imports in the previous session.

The United States Trade Representative announced Tuesday that certain products including clothing and cellphones were being removed from the tariff list based on “health, safety, national security and other factors” and will not face additional tariffs of 10%. Other tariffs will be delayed to Dec. 15 from Sep. 1 for certain articles, it said.

President Donald Trump said Tuesday that the move was designed to avoid any potential impact on holiday shopping ahead of Christmas season. He added China would very much like to make a trade deal.

Wall Street stocks soared shortly after the announcement, with the Dow jumping as much as 529 points before settling to finish the day 372 points higher.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, delayed, dow, higher, slightly, tariffs, open, futures, points, trade, point, stocks


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US Treasury yields mixed as recession signal nears inversion

U.S. government debt yields were mixed Wednesday morning, as global trade developments offered much-needed relief for markets gripped by political and economic uncertainty. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.6642%, just above that on the 2-year security at 1.6298%. Meanwhile, the yield on the 30-year Treasury bond was higher at around 2.1381%. It comes after the White House delayed tariffs on some Chinese imports in the pre


U.S. government debt yields were mixed Wednesday morning, as global trade developments offered much-needed relief for markets gripped by political and economic uncertainty. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.6642%, just above that on the 2-year security at 1.6298%. Meanwhile, the yield on the 30-year Treasury bond was higher at around 2.1381%. It comes after the White House delayed tariffs on some Chinese imports in the pre
US Treasury yields mixed as recession signal nears inversion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, uncertaintyat, signal, yields, nears, shopping, tariffs, recession, trade, mixed, white, inversion, yield, treasury, trump, worlds


US Treasury yields mixed as recession signal nears inversion

U.S. government debt yields were mixed Wednesday morning, as global trade developments offered much-needed relief for markets gripped by political and economic uncertainty.

At around 03:15 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.6642%, just above that on the 2-year security at 1.6298%. Meanwhile, the yield on the 30-year Treasury bond was higher at around 2.1381%.

It comes after the White House delayed tariffs on some Chinese imports in the previous session, easing trade concerns between the world’s two largest economies.

President Donald Trump said Tuesday that the move was designed to avoid any potential impact on holiday shopping ahead of Christmas season. He added China would very much like to make a trade deal.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: sam meredith
Keywords: news, cnbc, companies, uncertaintyat, signal, yields, nears, shopping, tariffs, recession, trade, mixed, white, inversion, yield, treasury, trump, worlds


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Argentina’s massive stock market and currency sell-off triggers risk of contagion, analysts warn

Argentine President Mauricio Macri, who has been defeated in the primary elections for the reelection, during a press conference at the Casa Rosada, the government house, in Buenos Aires, Argentina, Monday, Aug. 12, 2019. The risk of contagion has flared-up following a stock market and currency crash in South America’s second-largest country, analysts told CNBC on Tuesday. Argentina’s President Mauricio Macri lost by a far greater margin than expected in primary elections on Sunday, casting seri


Argentine President Mauricio Macri, who has been defeated in the primary elections for the reelection, during a press conference at the Casa Rosada, the government house, in Buenos Aires, Argentina, Monday, Aug. 12, 2019. The risk of contagion has flared-up following a stock market and currency crash in South America’s second-largest country, analysts told CNBC on Tuesday. Argentina’s President Mauricio Macri lost by a far greater margin than expected in primary elections on Sunday, casting seri
Argentina’s massive stock market and currency sell-off triggers risk of contagion, analysts warn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: sam meredith
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Argentina's massive stock market and currency sell-off triggers risk of contagion, analysts warn

Argentine President Mauricio Macri, who has been defeated in the primary elections for the reelection, during a press conference at the Casa Rosada, the government house, in Buenos Aires, Argentina, Monday, Aug. 12, 2019.

The risk of contagion has flared-up following a stock market and currency crash in South America’s second-largest country, analysts told CNBC on Tuesday.

Argentina’s President Mauricio Macri lost by a far greater margin than expected in primary elections on Sunday, casting serious doubt over the incumbent’s re-election chances in October.

The surprise result set off a shockwave in financial markets, with the peso closing 15% weaker at 53.5 per U.S. dollar and Argentina’s stock market plunging more than 30%.

It marked the second-biggest one day slump anywhere since 1950, Reuters reported.

Andrea Iannelli, investment director at Fidelity International, told CNBC’s “Squawk Box Europe” on Tuesday that it was hard to see how Argentina’s stock market and currency crash could be completely isolated.

“We are going to get a spill over (or) contagion of some sort.”

“But… Let’s not get too carried away because the general fundamental picture in emerging markets — with a Federal Reserve that continues to cut rates and global monetary policy that is being eased everywhere — is actually pretty good,” Ianelli said.

Emerging markets are likely to benefit from lower borrowing costs stateside because it gives them welcome breathing space to cut rates and get back on a path to higher growth.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: sam meredith
Keywords: news, cnbc, companies, mauricio, stock, contagion, massive, selloff, argentinas, reelection, president, markets, triggers, market, macri, warn, primary, rates, told, risk, currency


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