China S Big Banks Cut Deposit Rates Signaling Monetary Easing Ahead
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BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
China's Youth Unemployment Eased in April
China’s youth unemployment rate declined in April, in what will likely be welcome news for Beijing as it steps up policy support for the economy.The Wall Street Journal - World - China -
Hunt signals pre-election tax cut as Tories move on to campaign footing
UK chancellor accuses Labour of ‘a lie’ and funding ‘black hole’ in political speechFinancial Times - Business -
The WSJ Dollar Index Falls 0.1% to 99.27
The WSJ Dollar Index was down 0.1% to 99.27 — and is down for five of the past seven trading days.The Wall Street Journal - World -
China Regulators to Discuss Property Aid With Banks Friday
Yahoo News - World - China -
China eases mortgage rules in latest push to aid property sector
China’s financial regulators said Friday that they would remove the mortgage rate floors for first and second homes, and lower minimum downpayment ratios for first-time homebuyers.MarketWatch - Business - China -
Deutsche Bank raises S&P 500 price target to 5,500
Equity analysts at Deutsche Bank have raised their 2024 S&P 500 target to 5,500, joining a host of other Wall Street strategists who have expressed greater optimism as stocks have come roaring back from last month’s selloff.MarketWatch - Business -
China Rips Taiwan’s Lai for ‘Dangerous Signal’ in Opening Speech
Yahoo News - World - China -
Week Ahead for FX, Bonds: PMI Surveys, Asia Central Banks in Focus
Key data from the U.S., Europe and U.K. will share the stage with a raft of central bank decisions out of Asia-Pacific, as the timing of interest rate cuts stays front of mind for investors.The Wall Street Journal - World -
China Benchmark Lending Rates Held Steady
The country’s benchmark lending rates were held steady this month, central bank data showed Monday after Beijing announced bold moves to address property-sector malaise.The Wall Street Journal - World - China -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
Rates should be cut to 3.5% by end of 2025, IMF says
The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.BBC News - Top stories -
Cracker Barrel is the latest restaurant chain to signal trouble ahead as it sees fewer diners
Restaurant chain slashes dividend as it reports fewer diners, says it had to close stores this quarterMarketWatch - Business -
Singapore's MAS Steps Up Green Finance Partnership With China's Central Bank
Singapore’s central bank separately announced plans to sell up to US$1.9 billion of sovereign bonds to fund environmental projects.The Wall Street Journal - World - China -
Britain's inflation rate could be about to drop below the Bank of England's 2% target
The headline inflation rate could be 'momentous,' but markets remain divided on the chance of a June cut and services will be the one to watch.CNBC - Business - United Kingdom -
S&P 500 notches fresh peak as U.S. stocks edge higher ahead of Nvidia earnings
U.S. stocks were edging higher on Tuesday, as investor anticipation runs high for upcoming earnings results from Nvidia Corp.MarketWatch - Business -
Too Big or Not Enough? China Housing Bailout Treads a Fine Line
Beijing will try to provide enough support to absorb unsold apartments while not sparking a new bubble.The Wall Street Journal - World - China -
China’s ‘AI-in-a-box’ products threaten Big Tech’s cloud growth strategies
Huawei leads trend of providing companies with means to power their own artificial intelligence apps rather than through public cloudFinancial Times - World - China -
Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
Treasury yields end lower for first time in four sessions amid dearth of U.S. data
Rates on U.S. government debt finished slightly lower in rangebound trading on Tuesday as investors eyed another batch of comments from Federal Reserve officials.MarketWatch - Business -
Fed’s Waller needs ‘several more months’ of good inflation data before backing rate cut
“In the absence of a significant weakening in the labor market, I need to see several more months of good inflation data before I would be comfortable supporting an easing in the stance of monetary policy,” Waller said Tuesday.MarketWatch - Business -
‘We know consumers are feeling pressured’: Target to cut prices on 5,000 items ahead of Memorial Day weekend
Retailer Target is competing on price with its bigger rival Walmart at a time when many Americans are struggling with inflationary pressures.MarketWatch - Business -
Is a $10,000 deposit into a high-yield savings account worth it?
A $10,000 deposit into a high-yield savings account could make sense for savers now. Here's why.CBS News - Top stories -
Efforts by JPMorgan's Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.
Efforts by JPMorgan’s Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.The Wall Street Journal - World -
Sonos Picks a Good Time to Plug Into Headphones
The premium-headphone market is soaring while Sonos speaker sales are sagging, but the competition with Apple will be fierce.The Wall Street Journal - World -
U.S. Natural Gas Futures Relent After String of Gains
U.S. natural gas futures snapped a four-session winning streak, pulling back from a four-month high.The Wall Street Journal - World -
Trump Decides Against Testifying in Hush-Money Trial, Defense Rests
The former president’s lawyers wrapped up their case after their main witness, Bob Costello, completed his testimony. The jury will return next week for closing arguments.The Wall Street Journal - World - Donald Trump -
Netanyahu's Main Challenger Loses His Edge
Benny Gantz’s lack of decisiveness is alienating Israeli voters and costing him support in opinion polls.The Wall Street Journal - World - Israel -
Linda Evangelista Wasn't Sure She Had What It Took to Become a Supermodel
The fashion icon and subject of a new book on being discovered after losing a beauty pageant and her battle with breast cancer.The Wall Street Journal - World -
Parents Are Feeling the Pain of Inflation and Child-Care Costs
An annual survey from the Fed maps how Americans perceive the economy and their own situations.The Wall Street Journal - World -
Eli Lilly stock hits new highs after a regulatory win in China. This is a big deal
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.CNBC - Business -
White House Considers Easing Sanctions on Israeli Billionaire
A deal to allow the Israeli billionaire Dan Gertler to cash out his mining positions in the Democratic Republic of Congo has enraged human rights activists and some government officials.The New York Times - Top stories - Israel