Fed minutes, Bank of Korea decision, Sri Lanka

New Zealand’s central bank discussed a 100 basis point increase, the governor says The Reserve Bank of New Zealand had considered an even bigger rate hike when making its latest official decision on spot rates – despite the move to raise rates by 75 basis points already being the steepest ever. “I would say we … Read more

November 2022 Fed Minutes:

Federal Reserve officials agreed earlier this month that smaller rate hikes should happen once they evaluate the policy’s impact on the economy, the minutes published Wednesday show. Reflecting statements made by multiple officials in recent weeks, the meeting summary pointed to small interest rate hikes coming up. Markets are widely expecting the Federal Open Market … Read more

JPMorgan sees four possible outcomes for the economy, and only one of them is good

The global economy faces four likely scenarios — none particularly large — though economists at JPMorgan Chase say there’s a 1 in 5 chance that a recession won’t happen. In the company’s most likely case, the US is likely to contract in the second half of 2023. Other possible outcomes are a recession at the … Read more

Asia-Pacific markets mixed as investors weigh risk

The Malaysia King Party’s GPS will support Perikatan Nasional, not Pakatan Harapan One of the kings of the Malaysian elections, Gabungan Parti Sarawak (GPS), a Sarawak-based national political alliance in East Malaysia, said it supported the Perikatan Nasional coalition to form a government and would not cooperate with Pakatan Harapan by Anwar Ibrahim. The King … Read more

Fed’s Mester wants more progress on inflation before halting rate hikes

Cleveland Federal Reserve President Loretta Mester said Monday that inflation will have to show more signs of progress before it is ready to stop calling for rate hikes. While acknowledging recent data was encouraging, the central bank official told CNBC that progress is just the beginning. “We’re going to have more work to do because … Read more

US export restrictions of powerful chips to China are hurting now, but should prove bullish in the long run

It is understandable why the US felt the need to act quickly to keep high-performance semiconductors out of the hands of the Chinese government. It’s better to make a move from a position of strength before it’s too late. However, as chip stock shareholders, it still hurts. As you may recall, Club holding company Nvidia … Read more

Treasury yields rise as markets assess inflation outlook, Fed policy

US Treasury yields rose Monday as investors awaited further guidance on the Federal Reserve’s monetary policy plans from central bank speakers and worried about the inflation outlook. The return on the benchmark 10 year treasury was trading up 3.84% by 4:40 AM ET, after up about 1.5 basis points. The 2 years treasury the yield … Read more

Collins of the Fed expresses hope that inflation can be tamed without losing jobs

Susan Collins, Boston Federal Reserve Source: Federal Reserve Bank of Boston Boston Federal Reserve President Susan Collins on Friday expressed confidence that policymakers can contain inflation without doing too much damage to employment. “By raising rates, we’re trying to slow down the economy and better balance labor demand with supply,” Collins said in prepared remarks … Read more

Fed’s Bullard says rate hikes have so far had “only limited effects” on inflation

St. Louis Federal Reserve President James Bullard said Thursday that the central bank still has a lot of work to do before it gets inflation under control. Bullard, a voting member of the rate-setting Federal Open Market Committee, made remarks about a rules-based approach to policymaking. Using standards set by Stanford economics professor John Taylor, … Read more

APEC leaders meet, trade in Japan, unemployment in Australia

Temasek writes down the entire FTX investment, says it has no direct exposure to crypto Singapore’s sovereign wealth fund Temasek has announced it will write off its entire investment in FTX following the company’s rapid collapse last week. The state investor said in a press release that “in view of FTX’s financial position, we have … Read more