(Bloomberg) - Crude oil and gold traded near records after a slump in the dollar against major currencies boosted the appeal of raw materials as an inflation hedge.
Oil reached a record $100 a barrel yesterday and gold soared to its highest ever. The dollar fell as traders increased the odds of a Federal Reserve cut in borrowing costs this month to 100 percent. Palm oil gained to a record today, soybeans were near a 34-year peak and corn was close to an 11-year high.
Read more at Bloomberg
Showing posts with label Federal Reserve. Show all posts
Showing posts with label Federal Reserve. Show all posts
Thursday, 03 January 2008
Sunday, 05 August 2007
Bernanke May Alter Rhetoric, Not Interest Rates, After Market Turbulence
(Bloomberg) -- Federal Reserve Chairman Ben S.
Bernanke may respond to the latest squall in financial markets
the same way he did when turbulence hit four months ago: with a
change in words rather than policy.
Bernanke and his colleagues may suggest after their
meeting tomorrow that the risks to economic growth have
increased following the rout in stock and credit markets -- just
as they did after their March meeting.
Read more at Bloomberg Bonds News
Bernanke may respond to the latest squall in financial markets
the same way he did when turbulence hit four months ago: with a
change in words rather than policy.
Bernanke and his colleagues may suggest after their
meeting tomorrow that the risks to economic growth have
increased following the rout in stock and credit markets -- just
as they did after their March meeting.
Read more at Bloomberg Bonds News
Friday, 03 August 2007
TREASURIES-Bonds rise on weak data, subprime worries
(Reuters) - NEW YORK, Aug 3 - U.S. Treasury debt prices rose
on Friday with benchmark yields hovering near their lowest
levels since mid-May, as surprisingly soft jobs and services
data and subprime fears spurred safety bids for Treasuries.
Signs of weakness in the economic data prompted investors
to increase bets that the Federal Reserve may start cutting
interest rates before the end of the year.
Read more at Reuters.com Bonds News
on Friday with benchmark yields hovering near their lowest
levels since mid-May, as surprisingly soft jobs and services
data and subprime fears spurred safety bids for Treasuries.
Signs of weakness in the economic data prompted investors
to increase bets that the Federal Reserve may start cutting
interest rates before the end of the year.
Read more at Reuters.com Bonds News
Friday, 20 July 2007
TREASURIES-Rocky credit markets spark bond-buying spree
(Reuters) - NEW YORK, July 20 - U.S. Treasury debt prices
jumped on Friday as ongoing credit worries and weaker stocks
allowed bond bulls to test six-week lows in benchmark yields.
A mix of hard data and anecdotal evidence have underpinned
a week-long rally. Federal Reserve Chairman Ben Bernanke's
testimony, which referred extensively to the problem in the
subprime mortgages sector, only added fuel.
Read more at Reuters.com Bonds News
jumped on Friday as ongoing credit worries and weaker stocks
allowed bond bulls to test six-week lows in benchmark yields.
A mix of hard data and anecdotal evidence have underpinned
a week-long rally. Federal Reserve Chairman Ben Bernanke's
testimony, which referred extensively to the problem in the
subprime mortgages sector, only added fuel.
Read more at Reuters.com Bonds News
S. African Rand Gains in Week on Expectations Interest-Rate Gap to Widen
(Bloomberg) -- South Africa's rand advanced for a
fourth week, its best performance in almost a year versus the
dollar, on expectations the interest-rate gap with the U.S. will
widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
fourth week, its best performance in almost a year versus the
dollar, on expectations the interest-rate gap with the U.S. will
widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
Rand Heads for Fourth Weekly Advance on Expectations Rate Gap Will Widen
(Bloomberg) -- South Africa's rand headed for a
fourth weekly gain, its best performance in almost a year versus
the dollar, on expectations the interest-rate gap with the U.S.
will widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
fourth weekly gain, its best performance in almost a year versus
the dollar, on expectations the interest-rate gap with the U.S.
will widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
Thursday, 19 July 2007
TREASURIES-Rally fades ahead of Bernanke encore
(Reuters) - Anxiety over troubled mortgage investments has kept bonds
afloat in recent sessions, briefly pushing benchmark yields
back below 5 percent.
Federal Reserve Chairman Ben Bernanke reinforced the rally
on Wednesday by zeroing in on subprime or high-risk home loans
in his congressional testimony. Downbeat housing data and
relatively tame inflation figures have also supported bonds.
Read more at Reuters.com Bonds News
afloat in recent sessions, briefly pushing benchmark yields
back below 5 percent.
Federal Reserve Chairman Ben Bernanke reinforced the rally
on Wednesday by zeroing in on subprime or high-risk home loans
in his congressional testimony. Downbeat housing data and
relatively tame inflation figures have also supported bonds.
Read more at Reuters.com Bonds News
Dollar Trades Near Record Low Against Euro Before U.S. Economic Reports
(Bloomberg) -- The dollar traded near a record low
against the euro before U.S. reports that are forecast to show
manufacturing is slowing and the economic outlook is worsening.
The dollar weakened against nine of the 10 most-actively
traded currencies before Federal Reserve Chairman Ben S.
Bernanke's second day of testimony on the economy to Congress.
The U.S. currency declined yesterday after the Fed trimmed
growth forecasts for this year and next, and Bernanke predicted
home sales would be ``sluggish for a time.''
Read more at Bloomberg Currencies News
against the euro before U.S. reports that are forecast to show
manufacturing is slowing and the economic outlook is worsening.
The dollar weakened against nine of the 10 most-actively
traded currencies before Federal Reserve Chairman Ben S.
Bernanke's second day of testimony on the economy to Congress.
The U.S. currency declined yesterday after the Fed trimmed
growth forecasts for this year and next, and Bernanke predicted
home sales would be ``sluggish for a time.''
Read more at Bloomberg Currencies News
Wednesday, 18 July 2007
TREASURIES-Subprime fears, Bernanke growth view boost bonds
(Reuters) - NEW YORK, July 18 - U.S. government bond prices
climbed on Wednesday as investors flocked into low-risk assets
on fears of the subprime mess and Federal Reserve Chairman Ben
Bernanke's view of the housing drag on growth.
There were heightened worries about the health of Wall
Street investment banks after Bear Stearns said late
Tuesday the pair of hedge funds it managed, which had invested
heavily in subprime mortgages, have "very little value."
Read more at Reuters.com Bonds News
climbed on Wednesday as investors flocked into low-risk assets
on fears of the subprime mess and Federal Reserve Chairman Ben
Bernanke's view of the housing drag on growth.
There were heightened worries about the health of Wall
Street investment banks after Bear Stearns said late
Tuesday the pair of hedge funds it managed, which had invested
heavily in subprime mortgages, have "very little value."
Read more at Reuters.com Bonds News
UPDATE 2-Bernanke:Housing drag may persist, inflation a worry
(Reuters) - WASHINGTON, July 18 - Federal Reserve Chairman
Ben Bernanke told Congress on Wednesday the U.S. economy will
grow gradually this year and gain steam in 2008, but warned
there are many risks to the outlook and stressed the U.S.
central bank is on guard against inflation.
"Overall, the U.S. economy appears likely to expand at a
moderate pace over the second half of 2007, with growth then
strengthening a bit in 2008 to a rate close to the economy's
underlying trend," he said in semiannual testimony prepared for
delivery to the House of Representatives Financial Services
Committee.
Read more at Reuters.com Economic News
Ben Bernanke told Congress on Wednesday the U.S. economy will
grow gradually this year and gain steam in 2008, but warned
there are many risks to the outlook and stressed the U.S.
central bank is on guard against inflation.
"Overall, the U.S. economy appears likely to expand at a
moderate pace over the second half of 2007, with growth then
strengthening a bit in 2008 to a rate close to the economy's
underlying trend," he said in semiannual testimony prepared for
delivery to the House of Representatives Financial Services
Committee.
Read more at Reuters.com Economic News
Dollar Drops Versus Yen, Euro After Fed Lowers Economic Growth Estimates
(Bloomberg) -- The dollar fell against the yen and
euro as the Federal Reserve lowered its forecasts for U.S.
economic growth for this year and next as home building is
weaker than anticipated.
The revisions came as Fed Chairman Ben S. Bernanke, in
semiannual testimony to the House Financial Services Committee,
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede. He also said he expects a
slump in construction to continue to ``weigh'' on growth.
Read more at Bloomberg Currencies News
euro as the Federal Reserve lowered its forecasts for U.S.
economic growth for this year and next as home building is
weaker than anticipated.
The revisions came as Fed Chairman Ben S. Bernanke, in
semiannual testimony to the House Financial Services Committee,
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede. He also said he expects a
slump in construction to continue to ``weigh'' on growth.
Read more at Bloomberg Currencies News
Dollar Is Little Changed Versus Euro After Bernanke Says Growth to Pick Up
(Bloomberg) -- The dollar was little changed
against the euro after Federal Reserve Chairman Ben S. Bernanke
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede.
Bernanke, in his semi-annual testimony before the House
Financial Services Committee, said ``the U.S. economy appears
likely to expand at a moderate pace over the second half of
2007, with growth then strengthening a bit in 2008 to a rate
close to the economy's underlying trend.'' He also said ``core
inflation should edge a bit lower, on net, over the remainder of
this year and next year.''
Read more at Bloomberg Currencies News
against the euro after Federal Reserve Chairman Ben S. Bernanke
predicted U.S. economic growth will pick up slightly next year
and inflation will gradually recede.
Bernanke, in his semi-annual testimony before the House
Financial Services Committee, said ``the U.S. economy appears
likely to expand at a moderate pace over the second half of
2007, with growth then strengthening a bit in 2008 to a rate
close to the economy's underlying trend.'' He also said ``core
inflation should edge a bit lower, on net, over the remainder of
this year and next year.''
Read more at Bloomberg Currencies News
Treasuries Little Changed as Bernanke Says Economic Growth Will Pick Up
(Bloomberg) -- Treasuries were little changed as
Federal Reserve Chairman Ben S. Bernanke predicted U.S. economic
growth will pick up slightly next year and inflation will
gradually recede.
The yield on the benchmark 10-year note rose almost 1 basis
point, or 0.01 percentage point, to 5.05 percent at 10:05 a.m.
in New York, according to bond broker Cantor Fitzgerald LP. The
price of the 4 1/2 percent note due in May 2017 fell 2/32, or 63
cents per $1,000 face amount, to 95 3/4. Bond yields and prices
move in the opposite direction.
Read more at Bloomberg Bonds News
Federal Reserve Chairman Ben S. Bernanke predicted U.S. economic
growth will pick up slightly next year and inflation will
gradually recede.
The yield on the benchmark 10-year note rose almost 1 basis
point, or 0.01 percentage point, to 5.05 percent at 10:05 a.m.
in New York, according to bond broker Cantor Fitzgerald LP. The
price of the 4 1/2 percent note due in May 2017 fell 2/32, or 63
cents per $1,000 face amount, to 95 3/4. Bond yields and prices
move in the opposite direction.
Read more at Bloomberg Bonds News
Dollar Rebounds From Record Low Versus Euro as Consumer Prices Increase
(Bloomberg) -- The dollar rose from a record low
against the euro and the weakest in 26 years versus the pound as
a government report showed U.S. consumer prices rose last month
by more than analysts forecast, while housing starts increased.
Traders bought dollars as the report may feed speculation
the Federal Reserve will refrain from reducing its 5.25 percent
benchmark interest rate this year. The dollar slumped earlier as
losses on Bear Stearns Cos. hedge funds dimmed the allure of
U.S. assets.
Read more at Bloomberg Currencies News
against the euro and the weakest in 26 years versus the pound as
a government report showed U.S. consumer prices rose last month
by more than analysts forecast, while housing starts increased.
Traders bought dollars as the report may feed speculation
the Federal Reserve will refrain from reducing its 5.25 percent
benchmark interest rate this year. The dollar slumped earlier as
losses on Bear Stearns Cos. hedge funds dimmed the allure of
U.S. assets.
Read more at Bloomberg Currencies News
Treasuries Little Changed Before Bernanke's Testimony on Monetary Policy
(Bloomberg) -- Treasuries were little changed as
government inflation data suggested Federal Reserve Chairman Ben
S. Bernanke will reinforce expectations for steady monetary
policy in testimony before Congress.
Benchmark 10-year note yields are at the low end of their
range over the past six weeks after losses in securities backed
by subprime mortgages fueled demand for the safety of U.S.
government debt. The inflation rate for items excluding food and
energy held steady at 2.2 percent in June, matching the lowest
in more than a year.
Read more at Bloomberg Bonds News
government inflation data suggested Federal Reserve Chairman Ben
S. Bernanke will reinforce expectations for steady monetary
policy in testimony before Congress.
Benchmark 10-year note yields are at the low end of their
range over the past six weeks after losses in securities backed
by subprime mortgages fueled demand for the safety of U.S.
government debt. The inflation rate for items excluding food and
energy held steady at 2.2 percent in June, matching the lowest
in more than a year.
Read more at Bloomberg Bonds News
Dollar up after US housing starts exceed forecast
(Reuters) - The dollar rose to session highs against the euro and yen on Wednesday after news that June housing starts were slightly higher than expected, a small sign the sector may be improving prospects for the economy.
However, building permits were the lowest in a decade and separate data showed U.S. core inflation in June was in line with forecasts, keeping dollar gains capped and expectations intact that the Federal Reserve will keep benchmark overnight interest rates steady for the time being.
Read more at Reuters Africa
However, building permits were the lowest in a decade and separate data showed U.S. core inflation in June was in line with forecasts, keeping dollar gains capped and expectations intact that the Federal Reserve will keep benchmark overnight interest rates steady for the time being.
Read more at Reuters Africa
Pound Advances to Highest in 26 Years on U.K.'s Rate Advantage Over U.S.
(Bloomberg) -- The pound climbed to a 26-year high
against the dollar on speculation the Bank of England will lift
interest rates this year as losses on U.S. subprime mortgages
prompt the Federal Reserve to stay on hold.
The U.K. currency rose for a fourth day after Bear Stearns
Cos. reported losses on U.S. hedge funds that bet on bonds backed
by subprime mortgages. The BOE today released minutes of its July
5 meeting, showing policy makers voted 6-3 in favor of raising
rates to a six-year high. Inflation exceeded its 2 percent target
for a 14th month in June, a report showed yesterday.
Read more at Bloomberg Currencies News
against the dollar on speculation the Bank of England will lift
interest rates this year as losses on U.S. subprime mortgages
prompt the Federal Reserve to stay on hold.
The U.K. currency rose for a fourth day after Bear Stearns
Cos. reported losses on U.S. hedge funds that bet on bonds backed
by subprime mortgages. The BOE today released minutes of its July
5 meeting, showing policy makers voted 6-3 in favor of raising
rates to a six-year high. Inflation exceeded its 2 percent target
for a 14th month in June, a report showed yesterday.
Read more at Bloomberg Currencies News
Tuesday, 17 July 2007
European Bonds Fall on Speculation Global Growth to Prompt Rising Rates
(Bloomberg) -- European bonds fell on speculation
global economic growth is fast enough to prompt the European
Central Bank to increase interest rates this year.
ECB council member Nicholas Garganas said higher rates are
``warranted.'' Ten-year bunds snapped two-days of gains after
U.S. reports showed factory output rose the most since February
and prices paid to producers excluding food and fuel climbed
more than forecast. Federal Reserve Chairman Ben S. Bernanke may
reiterate tomorrow that the bank is seeking to curb inflation.
Read more at Bloomberg Bonds News
global economic growth is fast enough to prompt the European
Central Bank to increase interest rates this year.
ECB council member Nicholas Garganas said higher rates are
``warranted.'' Ten-year bunds snapped two-days of gains after
U.S. reports showed factory output rose the most since February
and prices paid to producers excluding food and fuel climbed
more than forecast. Federal Reserve Chairman Ben S. Bernanke may
reiterate tomorrow that the bank is seeking to curb inflation.
Read more at Bloomberg Bonds News
UPDATE 1-U.S. June industrial production up 0.5 pct
(Reuters) - WASHINGTON, July 17 - U.S. industrial output rose
by a slightly more-than-expected 0.5 percent in June as
production for automobiles surged 2.5 percent during the month,
a Federal Reserve report on Tuesday showed.
Analysts polled by Reuters were expecting to see a 0.4
percent rise in June. Total output at the nation's factories,
mines and utilities fell by a revised 0.1 percent in May
compared with a flat reading initially.
Read more at Reuters.com Economic News
by a slightly more-than-expected 0.5 percent in June as
production for automobiles surged 2.5 percent during the month,
a Federal Reserve report on Tuesday showed.
Analysts polled by Reuters were expecting to see a 0.4
percent rise in June. Total output at the nation's factories,
mines and utilities fell by a revised 0.1 percent in May
compared with a flat reading initially.
Read more at Reuters.com Economic News
U.K. Pound Rises to 26-Year High Against Dollar After June Inflation Data
(Bloomberg) -- The pound rose to a 26-year high
against the dollar after a report showed U.K. inflation exceeded
the Bank of England's 2 percent limit for a 14th month in June.
The U.K. currency posted its biggest gain in a week on
speculation the BOE will keep raising interest rates while the
Federal Reserve stays on hold, increasing the attraction of
pound-denominated assets. Investors raised bets on how high BOE
policy makers will lift borrowing costs following the release of
the inflation report, futures trading shows.
Read more at Bloomberg Currencies News
against the dollar after a report showed U.K. inflation exceeded
the Bank of England's 2 percent limit for a 14th month in June.
The U.K. currency posted its biggest gain in a week on
speculation the BOE will keep raising interest rates while the
Federal Reserve stays on hold, increasing the attraction of
pound-denominated assets. Investors raised bets on how high BOE
policy makers will lift borrowing costs following the release of
the inflation report, futures trading shows.
Read more at Bloomberg Currencies News
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