Bloomberg:
Stocks Fall Amid China Worries; Dollar Holds Gains: Markets Wrap
Stocks in Asia retreated Friday amid growing concerns about a slowdown in China and policy makers’ steps to address it. The dollar held gains from overnight, when the Federal Reserve reinforced expectations for further interest-rate hikes. Treasury yields edged lower.
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Bloomberg:
Buy ‘Cheap’ Yen Before Its Big Awakening in 2019, SocGen Says
It’s time to start loading up on “cheap” yen. Using options to bet on gains for Japan’s currency is a smart wager for 2019, according to Societe Generale. The dollar rose above 114 yen Friday in Asia to its strongest since early October, extending its advance after the Federal Reserve left rates unchanged.
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Bloomberg:
Fed Holds Rates Unchanged Ahead of Expected December Hike
The Federal Reserve left interest rates unchanged and stayed on course to hike in December despite recent jitters in financial markets and a critical president.
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Bloomberg:
Wall Street Says Fed Is in Denial About $4 Trillion Dilemma
Fixed-income traders are telling the Federal Reserve that it might end up making a big policy mistake. And it’s not just rising interest rates they’re talking about.
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Bloomberg:
Nikkei Could Rocket to 28,000 If Yen Reaches 125, JPMorgan Says
The risk of an unexpectedly weak yen next year cannot be ruled out, and would mean a chunky rally for Japanese equities, according to JPMorgan Chase & Co.
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Bloomberg:
Oil Teeters Near Record Losing Streak After Entering Bear Market
Oil’s set for its longest stretch of declines on record after entering a bear market, with investors awaiting a weekend meeting of OPEC and its allies to discuss output strategy.
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Bloomberg:
Goldman Says the Risk Rally Is On
The rebound in risk appetite can continue, according to Goldman Sachs Group Inc. “The market is once again pricing a data-dependent Fed, the U.S. midterm elections are behind us, and we see early signs of a China-driven stabilization of EM growth,” Goldman strategists James Weldon.
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Bloomberg:
Now That $4.3 Trillion Wipeout in Asian Stocks Is Getting Deeper
It was looking like a week of wound-licking for Asian stocks. Then crude oil entered a bear market and alarm bells rang on China’s slowdown as tech stocks plunged.It was looking like a week of wound-licking for Asian stocks. Then crude oil entered a bear market and alarm bells rang on China’s slowdown as tech stocks plunged.
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Reuters:
Fed leaves rates unchanged, says U.S. economy strong
The U.S. Federal Reserve held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
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Reuters:
Oil in bear market as supply rises and demand growth slows
Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand from of lower economic growth and trade disputes.
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CNBC:
China’s Xi tries to reassure the country’s worried private companies
Chinese President Xi Jinping is making peace with his country’s private companies. That reassurance comes amid an environment in which privately owned enterprises have taken a hit from banks constricting lending in a national effort to rein in debt.
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CNBC:
Fed leaves rates unchanged, notes slowing in business investment
In its first meeting since October’s market turmoil and this week’s midterm elections, the Federal Reserve voted to maintain the current level of its benchmark interest rate.
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