Todays Markets

Bloomberg: Hoarding Cash Grows in Popularity as Market Volatility Increases
Tumbling stock markets from China to Greece mean piling into cash may be the best bet for global investors as a volatile 2018 draws to a close. That’s according to Dwyfor Evans, head of Asia-Pacific macro strategy at State Street Global Markets in Hong Kong, who says “it’s time to hold cash” after a selloff that began in emerging markets spills over into developed-nation equities. [more...]

Bloomberg: Stocks Mixed as China Loses Steam; Treasuries Gain: Markets Wrap
Asian stocks gyrated alongside U.S. futures as Chinese shares pared gains and investors continued to harbor concerns about the corporate earnings outlook in an environment of tightening financial conditions. Treasuries edged higher and the dollar steadied. [more...]

Bloomberg: Stocks End Lower as Late Rally Falters; Bonds Gain: Markets Wrap
U.S. stocks closed lower for a fifth day, as an afternoon rally from the lowest levels for the S&P 500 since May fell short of pushing benchmark indexes back into positive territory. Treasury yields declined and crude oil tumbled. [more...]

Bloomberg: Companies Say They're Ready to Move Supply Chains From China
Earnings reporting season is underway, and analysts are eager to hear from executives about how an escalating trade war between the U.S. and China is impacting their businesses. A common theme is that they are ready to relocate supply chains if the cost of importing Chinese goods becomes prohibitive. [more...]

Bloomberg: China Just Saved Asia Stocks From Entering Bear-Market Territory
It’s been a day of swings between losses and gains for Asian stocks. But now that China and Hong Kong are back with a vengeance, the regional benchmark is inching higher in the green. [more...]

Bloomberg: Wall Street Sees Fed Making Another Technical Tweak in December
If the Federal Reserve raises interest rates a quarter percentage point in December as expected, a chorus of Wall Street economists say it will make another small adjustment to how it manages its target range for the benchmark federal funds rate. [more...]

Bloomberg: Post-Crisis ECB Considers How It'll Set Interest Rates in Future
The European Central Bank is starting to consider whether the financial crisis changed forever the way it controls interest rates. A decade of pumping cash into the financial system put so much downward pressure on market rates that all policy makers can do is set a floor -- the minus 0.4 percent they impose for holding banks’ deposits overnight. [more...]

Bloomberg: Dollar Faces ‘Slow Burn’ If U.S. Midterms Produce Split Congress
Next month’s U.S. midterm election could “reset” the dollar for the worse if the vote results in a split Congress and stalls out fiscal initiatives that lure capital to U.S. assets, said Mazen Issa at TD Securities. [more...]

Bloomberg: Italian Assets Climb After Moody's Review Damps Budget Tensions
Italian bonds rallied after the nation said it will ensure its deficit does not break a 2.4 percent target next year and Moody’s Investors Service kept it at investment grade. [more...]

Reuters: Asia stocks edge up on China stimulus hopes, oil near two-month lows
Asian stocks turned up on Wednesday as fresh signs of stimulus from China propped up sentiment despite Wall Street’s overnight losses, while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases. [more...]

Reuters: Oil prices claw back previous losses as Iran sanctions return to focus
Oil prices on Wednesday clawed back some of their hefty losses from the day before as the looming U.S. sanctions against Iran came back into focus. [more...]

CNBC: Trump directly attacks Fed Chairman Powell, saying ‘Obama had zero’ interest rates
President Donald Trump directly accused Federal Reserve Chairman Jerome Powell of endangering the U.S. economy by raising interest rates, according to The Wall Street Journal. [more...]

CNBC: Barclays earnings beat expectations despite macroeconomic uncertainty and Brexit concerns
Barclays reported stronger-than-anticipated earnings on Wednesday, despite ongoing macroeconomic uncertainty and lingering concerns over Brexit. The U.K.-based bank posted £1 billion ($1.29 billion) in net income for the three-month period ending Sept 30. Analysts at data firm Refinitiv had been expecting third-quarter net income to come in at around £723 million. [more...]