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(Bloomberg) -- Bridgewater Associates founder Ray Dalio said a small part of his family office’s portfolio remains invested in China, but pointed out that there are “real issues” in the country amid a deepening economic slowdown.Most Read from BloombergCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughPipe Fire Near Houston Forces Residents to EvacuateLondon Mayor Plans to Pedestrianize Busy Oxford StreetTo Build a Happier City, Design for DensityAn Artist Reimagines the Spaces
It’s a pivotal week for the US economy, with the Federal Reserve expected to cut interest rates for the first time since 2020. The move would mark a major milestone both for the central bank’s long fight with inflation and for Americans battling a higher cost of living for the past two years.
If deepening gloom around China and a surging Japanese yen are the local market drivers in Asia, the Fed's upcoming interest rate decision hangs heavily over world markets as growing hopes for a 50 basis point cut push the dollar to new lows for the year. Wall Street lost ground on Monday even as bond yields edged lower, with jitters beginning to bubble up as Wednesday's Fed decision draws closer. Rates traders are now putting a 60% probability on a half percentage point cut and expect 120 bps of easing over the three remaining policy meetings this year.
Chinese homebuyers on a tight budget have long sought out Hegang, an ex-coal boomtown on the Russian border. Now, as China's property crisis spreads, Hegang's basement prices are showing up in wealthier regions in a new threat to the economy. Average prices of new homes in 70 major cities including Beijing slumped for the 14th month in August despite dramatic reversals in China's once-restrictive purchase policies.
(Bloomberg) -- Investors who were burned in the aftermath of the Bank of Japan’s July board meeting appear unwilling to accept its recent signaling on interest rates, with the swaps market pricing only about a one-in-three chance of a hike this year. Most Read from BloombergCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughPipe Fire Near Houston Forces Residents to EvacuateLondon Mayor Plans to Pedestrianize Busy Oxford StreetTo Build a Happier City, Design for DensityAn Artist
Americans spent a bit more at retailers last month, providing a small boost to the economy just seven weeks before Election Day as the Federal Reserve considers how much to cut its key interest rate. Retail sales ticked up 0.1% from July to August, after jumping the most in a year and a half the previous month, the Commerce Department said Tuesday. Online retailers, sporting goods stores, and home and garden stores all reported higher sales.
The Federal Reserve is expected to make its first interest rate cut in more than four years at 1800 GMT, with markets pricing a 61% probability of a 50 basis point cut. The yen, up more than 12% since July, has been surging because the Bank of Japan - which sets policy on Friday - has been hiking rates at the same time as the Fed prepares to cut. Elsewhere, the Australian dollar traded at a two-week top at $0.6778, while a rise in milk prices supported the New Zealand dollar at $0.62155, though moves were tentative ahead of the Fed's meeting.
(Bloomberg) -- Ireland could need to complete around 52,000 new homes each year until 2050 to house the country’s growing population, according to the central bank, a figure that far exceeds current government targets of 33,000 annually. Most Read from BloombergCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughPipe Fire Near Houston Forces Residents to EvacuateLondon Mayor Plans to Pedestrianize Busy Oxford StreetTo Build a Happier City, Design for DensityAn Artist Reimagines t
Futures on the fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in a nearly 60% chance of a 50 basis-point rate cut by the Federal Reserve on Wednesday, LSEG calculations showed. The Fed will hold a two-day policy meeting starting on Tuesday and is widely expected to reduce the benchmark overnight interest rate currently in the 5.25% to 5.50% range. The rate reduction, however, has turned into a coin flip between 50 and 25 bps over the last few days.
The Federal Reserve Board is meeting this month to discuss a small interest rate cut, which seems likely, given that the Board chair, Jerome Powell, said in an August meeting, "The time has come for...
The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday. The U.S. central bank is expected to cut interest rates for the first time in over four years on Wednesday, with speculation over the size of the first rate cut creating volatility across financial markets in the run-up to the decision. This would bring interest rates to about 2.8%-2.9% by the end of next year from the current 5.25%-5.5% range.
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