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2024-10-09 03:06:50

Fed vice-chair says risks to inflation, employment now balanced
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Fed vice-chair Philip Jefferson stated that risks to inflation and employment are now balanced; Jefferson's remarks were made on October 9, 2024, at Davidson College, North Carolina; he noted that inflation risks have diminished while employment risks have risen; the Fed lowered interest rates by 0.5 percentage points last month for the first time since the Covid-19 pandemic; forecasts indicate an additional 50 basis points reduction this year; September jobs report showed 254,000 jobs added, lowering unemployment to 4.1%; Jefferson emphasized the economy is growing solidly despite a cooling labor market; he mentioned the importance of the discount window for banks following recent bank collapses; Jefferson joined the Fed in 2022 after serving at Davidson College.
#FederalReserve #Inflation #Employment #InterestRates #PhilipJefferson #JobsReport #EconomicGrowth #DiscountWindow #NorthCarolina #2024
https://theedgemalaysia.com/node/729527

2024-10-02 04:09:50

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#note13rw…qnsa

2024-10-02 04:09:38

My Say: What Asia should expect from a volatile US
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Kamala Harris's potential victory could lead to continued American policies; US elections are less than six weeks away; Harris is dead even with Trump in national polling; Trump has an edge on economy and immigration issues; Harris raised more money and has enthusiastic volunteer support; abortion rights backlash may favor Democrats; Harris likely to win narrowly but may lose Senate control; divided government expected; Harris's presidency may continue Biden's policies; Trump would implement aggressive tariffs, risking world trade; US economy may slow but remain resilient; US fiscal position at risk with $28 trillion debt; Moody's predicts rising debt-to-GDP ratio; Fed unlikely to cut rates aggressively; US oil production expected to rise by 500,000 bpd in 2025; Asia must prepare for a volatile US political landscape.
#UsElections #KamalaHarris #DonaldTrump #Asia #Economy #Trade #OilProduction #FiscalPolicy #Inflation #Politics
https://theedgemalaysia.com/node/728449

2024-09-23 02:14:56

US Congress unveils stopgap spending deal to avert shutdown
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Congressional leaders unveiled a stopgap funding bill on Sept 23, 2024, to keep the US government open through Dec 20, aiming to prevent an Oct 1 shutdown; the bill maintains existing funding levels with exceptions for the US Secret Service, which receives US$231 million for presidential candidate protection; it excludes GOP's proof of citizenship voting requirement and additional funds for Navy submarines and disaster aid; House Speaker Mike Johnson described it as a 'narrow, bare-bones CR'; Senate Majority Leader Chuck Schumer praised the bipartisan effort; the House Rules Committee will meet on Sept 24 to consider the bill.
#UsCongress #StopgapFunding #GovernmentShutdown #Budget #SecretService #Republicans #Democrats #Legislation #Bipartisan #Appropriations
https://theedgemalaysia.com/node/727545

2024-09-20 03:53:22

My Say: Risks in the Chinese economy
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China's economy has not rebounded as hoped; economic activity is lacklustre with weak consumer and business confidence at multi-year lows; real estate sector shows no signs of recovery; inflation is low, raising fears of a deflationary trap similar to Japan; economic forecasts have been downgraded; however, China is excelling in new competitive areas like electric vehicles and biomedical industries; domestic demand is weak, with retail sales growth at 2.7% year-on-year; industrial production growth at 5% but demand for goods remains low; new-home sales fell 26.8% year-on-year; producer prices down 1.8% year-on-year; former central bank governor Yi Gang calls for quicker policy responses; macro leverage ratio at 294.8%; export growth at 8.7% in August; potential for policy shift due to deflationary risks and trade tensions; need for aggressive stimulus measures to prevent financial instability.
#China #Economy #Deflation #RealEstate #Exports #Policy #Inflation #EconomicGrowth #FinancialStability #ConsumerConfidence
https://theedgemalaysia.com/node/726909

2024-09-20 00:21:38

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#note1gfk…ate8

2024-09-20 00:21:27

Asian markets set to extend rally as global stocks soar to new highs
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Asian markets are expected to continue their rally following a surge in global stocks, with the S&P 500 rising 1.7% and the Nasdaq 100 increasing by 2.6%. US jobless claims dropped to their lowest since May, indicating a healthy labor market, which supports the Federal Reserve's recent 50 basis point rate cut. The Bank of Japan is anticipated to maintain its interest rate, while traders await inflation data. The S&P 500 achieved its 39th record in 2024, with a year-to-date increase of about 20%. A survey indicated that 75% of respondents expect a soft landing for the US economy post-rate cut, favoring value stocks over AI stocks. Key upcoming events include Japan's CPI and rate decision, and China's loan prime rates.
#AsianMarkets #GlobalStocks #FederalReserve #InterestRates #S&p500 #JoblessClaims #Japan #China #ValueStocks #Commodities
https://theedgemalaysia.com/node/727353

2024-09-19 16:05:28

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#note1luf…49rc

2024-09-19 16:05:17

Yellen says US Fed cut ‘positive sign,’ policy still restrictive
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Treasury Secretary Janet Yellen described the Federal Reserve's interest-rate cut on September 18, 2024, as 'a very positive sign for where the US economy is,' indicating progress in reducing inflation and a focus on maintaining a strong job market; Yellen emphasized that the Fed's confidence reflects diminished inflation risks and a commitment to the 2% target; she noted that the stance of monetary policy remains restrictive, with expectations for further interest rate reductions into 2026; Yellen highlighted that the job market is 'normal, healthy,' contrasting it with the tighter labor conditions of 2022 and 2023.
#FederalReserve #JanetYellen #InterestRates #UsEconomy #Inflation #JobMarket #MonetaryPolicy #2024 #EconomicOutlook #FinancialNews
https://theedgemalaysia.com/node/727345

2024-09-19 14:00:04

US Fed rate cut fuels optimism for sustained Malaysian export recovery
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The US Federal Reserve cut its policy rate by 50 basis points on September 18, 2024, expected to boost US domestic consumption and support Malaysian exports; Malaysia's August trade data showed a 12.1% year-on-year increase in exports to RM129.16 billion, surpassing estimates; UOB Global Economics predicts ongoing recovery in electrical and electronics exports; year-to-date export growth stands at 6%, with a full-year target of 7.6%; imports rose 26.2% year-on-year to RM123.49 billion in August; trade surplus narrowed 67.3% year-on-year to RM5.67 billion; RHB Research forecasts GDP growth of 5.2% in Q3 2024.
#UsFed #Malaysia #Exports #Economy #TradeData #Gdp #Uob #Rhb #August2024 #PolicyRate
https://theedgemalaysia.com/node/727324

2024-09-18 19:17:47

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#note1ud5…uszj

2024-09-18 19:17:36

Fed Bowman's dissent is first from US Fed governor since 2005
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On September 19, 2024, Federal Reserve governor Michelle Bowman voted against an interest-rate decision for the first time since 2005, opposing Fed Chair Jerome Powell's consensus. The other 11 voting members supported a half-percentage-point rate cut, while Bowman preferred a quarter-point cut. Only 12 of the 19 policymakers voted, including eight permanent voters. Historically, dissents have been rare among Fed governors, with most dissenting votes coming from Fed presidents. Bowman's dissent marks a significant moment as it is the first in favor of tighter monetary policy in nearly 30 years. She has been a vocal advocate for a higher Fed policy rate to combat inflation.
#FederalReserve #InterestRates #Dissent #MonetaryPolicy #MichelleBowman #JeromePowell #Inflation #Economics #FinancialMarkets #PolicyDecisions
https://theedgemalaysia.com/node/727190

2024-09-18 13:48:09

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#note1kps…vppv

2024-09-18 13:47:58

US mortgage rates drop to two-year low ahead of US Fed rate cut
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US mortgage rates fell to the lowest since September 2022, with a 30-year fixed mortgage rate dropping 14 basis points to 6.15% as of Sept 13, 2024; the 15-year mortgage rate decreased 29 basis points to 5.42%; adjustable-rate mortgages fell to 5.66%; this marks seven consecutive weeks of decline, the longest since 2018-2019; home-purchase applications increased by 5.4%, reaching a three-month high; refinancing applications surged over 24%, the highest since April 2022; the decline in rates is attributed to expectations of Federal Reserve interest-rate cuts, with a decision anticipated on Sept 18, 2024.
#MortgageRates #FederalReserve #InterestRates #HomePurchases #Refinancing #RealEstate #Economy #Finance #HousingMarket #Us
https://theedgemalaysia.com/node/727162

2024-09-18 00:00:37

US stocks hover near record-high as traders split over Fed rate cut
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US stocks are near record highs as traders await the Federal Reserve's decision on interest rates; the S&P 500 closed near 5,635; retail sales increased; market-implied odds for a 50-basis-point cut are around 55%; investor reactions vary on potential cuts; a survey shows mixed expectations on market reactions; Treasury yields rose to 3.64%; historical performance indicates a drop of 0.56% in the week following a first rate cut; analysts suggest a 25 or 50 basis-point cut could impact market sentiment; comments from Fed Chair Jerome Powell are highly anticipated.
#UsStocks #FederalReserve #InterestRates #S&p500 #MarketAnalysis #RetailSales #TreasuryYields #EconomicOutlook #InvestorSentiment #JeromePowell
https://theedgemalaysia.com/node/727038

2024-09-17 06:03:49

Thailand to boost borrowing by 8% to US$78 bil to spur growth
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Thailand plans to increase government borrowing by 8% to US$78 billion for the fiscal year starting October 2024; approximately 1.1 trillion baht (RM141.57 billion) will be new borrowing for budget deficit financing; the remainder will refinance existing debt; Prime Minister Paetongtarn Shinawatra emphasizes urgent economic stimulus; Thailand's economy has averaged 1.9% growth over nearly a decade; government bond sales will raise about 1.3 trillion baht; budget deficit projected at 866 billion baht; government plans to auction 322 billion baht of bonds from October to December 2024.
#Thailand #Borrowing #Economy #Growth #GovernmentBonds #PaetongtarnShinawatra #BudgetDeficit #Finance #PublicDebt #SoutheastAsia
https://theedgemalaysia.com/node/726917

2024-09-17 03:18:00

Wall Street’s early read places debt-cap deadline in mid-2025
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Wall Street forecasts US debt ceiling exhaustion by mid-2025, with focus on July or August; Congress faces potential government shutdown by end of September 2024; current debt-ceiling suspension ends Jan. 1, 2025; Treasury to rely on extraordinary measures and cash reserves; Citigroup's Jason Williams predicts last-minute agreements; Bank of America estimates July deadline; Treasury expected to have over $1 trillion cash in 2025; Fed's quantitative tightening may be affected by Treasury's cash management; Fed Chair Jerome Powell to address rate policy in upcoming meeting.
#DebtCeiling #UsTreasury #Congress #FinancialMarkets #QuantitativeTightening #Citigroup #BankOfAmerica #GovernmentShutdown #CashReserves #EconomicPolicy
https://theedgemalaysia.com/node/726892

2024-09-17 02:38:16

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#note1mhl…7a3v

2024-09-17 02:38:05

2024-09-13 10:58:28

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#note194q…knd8

2024-09-13 10:58:17

US locks in steep China tariff hikes, many to start Sept 27
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The Biden administration announced steep tariff hikes on Chinese imports, effective Sept 27, 2024; 100% duty on electric vehicles, 50% on solar cells, and 25% on steel, aluminum, EV batteries, and key minerals; 50% duty on semiconductors starting in 2025; minimal adjustments to tariffs on US$18 billion worth of goods; Lael Brainard emphasized the need for 'tough, targeted' tariffs to counter China's subsidies; China plans retaliation against the tariffs; Vice President Kamala Harris and Donald Trump are courting voters in key states; EU and Canada also announced new tariffs on Chinese EVs; temporary relief for US port operators regarding cranes; increased tariffs on medical supplies delayed to allow shift to non-Chinese suppliers.
#Tariffs #China #BidenAdministration #ElectricVehicles #Semiconductors #TradePolicy #Retaliation #Harris #Trump #EconomicStrategy
https://theedgemalaysia.com/node/726737

2024-09-13 02:49:27

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#note1qvn…vwwu

2024-09-13 02:49:16

Wells Fargo drops as US seeks fixes to money-laundering controls
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Wells Fargo & Co shares fell after a deal with the Office of the Comptroller of the Currency (OCC) on September 13, 2024, requiring the bank to improve money laundering detection and compliance with international sanctions; the stock dropped as much as 6.5% before recovering to a 4.3% decline by 2:16 PM in New York; the OCC's agreement does not impose a monetary penalty; Wells Fargo stated it is addressing the required corrective actions with urgency.
#WellsFargo #MoneyLaundering #Occ #StockMarket #FinancialRegulations #Compliance #Sanctions #Banking #Investments #FinancialCrimes
https://theedgemalaysia.com/node/726652

2024-09-11 09:17:53

Oil’s fall into US$60s widens runway for global economy to make soft landing
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Brent crude oil fell below US$70 a barrel for the first time since late 2021; forecasts suggest prices could drop to US$60 in 2025; Tim Drayson from Legal & General Investment Management states soft landing probabilities increase for the US and Europe; ECB expected to cut rates on September 14, 2024; US Federal Reserve likely to begin easing on September 18, 2024; Christof Ruehl from Columbia University highlights benefits for central banks; global oil production expected to rise by 1.5 million barrels a day; SHOK model predicts a US$60 oil price could reduce inflation by 0.4 percentage points in the US and Europe; Janet Yellen describes the US economy as experiencing a soft landing; TS Lombard's Freya Beamish notes lower crude prices could stimulate US consumer purchasing power.
#OilPrices #GlobalEconomy #Inflation #InterestRates #BrentCrude #MonetaryPolicy #UsEconomy #Ecb #FederalReserve #Commodities
https://theedgemalaysia.com/node/726344

2024-09-11 08:37:27

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#note1aug…0k3r

2024-09-11 08:37:16

2024-09-10 14:44:34

US small business sentiment ebbs in August amid rising uncertainty
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US small-business confidence fell in August 2024, with the National Federation of Independent Business (NFIB) reporting a 2.5 point drop in the Small Business Optimism Index to 91.2; this follows a surge in July to the highest level since February 2022. The Uncertainty Index rose two points to 92, the highest since October 2020, amid concerns over the upcoming Nov 5 presidential election and weak sales expectations. Economists noted that small business sentiment may be influenced by political factors, particularly with the tight contest between President Joe Biden and Republican candidate Donald Trump. The net share of businesses expecting higher inflation-adjusted sales volumes fell nine points to -18%. Forty percent of owners reported unfilled job openings, primarily in skilled positions within transportation, construction, and manufacturing. Plans for job creation declined, while capital investment intentions increased. The Federal Reserve is expected to cut interest rates by 25 basis points next week, following a year of maintaining rates between 5.25%-5.50%.
#SmallBusiness #OptimismIndex #EconomicOutlook #Inflation #JobOpenings #PresidentialElection #FederalReserve #InterestRates #CapitalInvestment #Uncertainty
https://theedgemalaysia.com/node/726257

2024-09-10 09:55:07

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#note1x78…uy9e

2024-09-10 09:54:55

BOJ said to see little need to hike key rate next week
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Bank of Japan (BOJ) officials see little need to raise the benchmark rate at 0.25% during the meeting on Sept 20, 2024; they are monitoring financial market volatility and the impact of the July rate hike; the Nikkei 225 experienced its largest plunge in history on Aug 5, 2024; most economists expect the BOJ to wait until December or January for another rate hike; second-quarter economic growth was slightly slower than initially estimated but remains strong; Deputy governor Shinichi Uchida stated rates won't rise during market instability; the ruling Liberal Democratic Party's leadership election on Sept 27, 2024, may influence future monetary policy; BOJ officials are also observing potential weaknesses in the US economy; the BOJ's policy board meeting coincides with expected US Federal Reserve interest rate cuts.
#Boj #InterestRates #MonetaryPolicy #Japan #Economy #FinancialMarkets #Nikkei225 #UsEconomy #Politics #Inflation
https://theedgemalaysia.com/node/726205

2024-09-10 09:54:33

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#note1cvw…6fta

2024-09-09 11:44:56

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#note14lh…hysp

2024-09-09 11:44:44

Hedge funds flock to Japan as market heats up
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Japan's hedge fund sector sees a net increase of over 10 funds since 2023; at least five more funds are launching in Q3 and Q4 2024; hedge fund liquidations in Asia outpace launches due to China's market struggles; Japanese equity markets reached all-time highs in July 2024; Soichi Utsumi of Shinka Capital Management highlights positive changes in Japan's economy; ActusRayPartners plans to launch a new Japan strategy targeting US$100 million; Tetsuo Ochi of MCP Group notes rising interest rates benefit long-short strategies; Dai-ichi Life invests 10 billion yen (US$70 million) in a new fund to support emerging managers.
#HedgeFunds #Japan #Investment #MarketTrends #Finance #Equity #Economy #CapitalMarkets #FundLaunches #InterestRates
https://theedgemalaysia.com/node/726069

2024-09-09 00:03:15

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#note1asd…rmz6

2024-09-09 00:03:04

Risk-on momentum in stocks succumbs to mounting growth worries
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The stock market rally is faltering due to growth concerns; S&P 500 fell 4.25% last week; Nasdaq 100 experienced its largest drop since November 2022; US payrolls growth data indicates a cooling labor market; global growth worries include China and Germany; Federal Reserve interest-rate cut anticipated; S&P 500 up 13% in 2024; MSCI World Index up 10%; strategists predict only 1% gain for S&P by end of 2024; Nvidia Corp. significantly influences market sentiment; geopolitical tensions and US election uncertainties add to market risks; Kamala Harris and Donald Trump are key candidates; potential corporate tax changes could impact S&P 500 earnings; market sentiment expected to remain fragile.
#Stocks #Market #Economy #Growth #S&p500 #Nvidia #FederalReserve #UsElection #China #Germany
https://theedgemalaysia.com/node/725977

2024-09-08 01:55:42

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#note13lk…dyal

2024-09-08 01:55:31

ECB poised to cut rates again in warm-up act for US Fed
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The European Central Bank (ECB) is expected to cut interest rates on September 12, 2024, following a previous reduction in July; this move is seen as a precursor to a similar action by the US Federal Reserve on September 18, 2024. ECB President Christine Lagarde will address the media regarding economic growth prospects, as recent data indicates weaker-than-expected second-quarter expansion. Bloomberg senior economist David Powell anticipates another 25 basis point cut in December 2024, although concerns about wage growth and inflation may temper commitments. The Bank of Canada also cut rates on September 4, 2024, highlighting a trend of synchronized easing among major economies. US inflation data is expected to show core CPI rising by 0.2% for August, with year-over-year growth at 3.2%. Other global economic indicators include Chinese inflation data, UK wage numbers, and various monetary policy decisions across several countries.
#Ecb #InterestRates #UsFed #EconomicGrowth #Inflation #MonetaryPolicy #GlobalEconomy #ChristineLagarde #DavidPowell #September2024
https://theedgemalaysia.com/node/725962

2024-09-08 01:55:09

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#note1fdk…lkxf

2024-09-08 01:54:58

Yellen 'probably done' when Biden ends term, may meet Chinese counterpart soon
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US Treasury Secretary Janet Yellen, 78, stated she is 'probably done' serving in government after President Joe Biden's term ends in January 2025; she may meet with Chinese Vice Premier He Lifeng soon to manage US-China relations; Yellen's comments were made at the Texas Tribune Festival on September 8, 2024; she emphasized the need for ongoing discussions to prevent rising tensions between the US and China; Yellen noted the US economy is stabilizing with lower inflation and solid consumer spending, despite a slight decline in the unemployment rate reported in August 2024.
#JanetYellen #UsTreasury #Biden #China #Economy #Inflation #Jobs #TradeRelations #HeLifeng #TexasTribuneFestival
https://theedgemalaysia.com/node/725957

2024-09-07 07:59:53

New Thai PM to push ahead with cash stimulus to revive economy
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Thailand's new Prime Minister Paetongtarn Shinawatra, sworn in on September 7, 2024, plans to implement a US$14 billion cash stimulus to combat low growth and household debt. The digital wallet program will provide 10,000 baht to 50 million adults, with 14.5 million expected to benefit in the first phase. Paetongtarn, the youngest leader at 38, aims to continue previous policies to boost tourism and agriculture. The Thai economy is projected to grow 2.5% this year, lagging behind neighbors. She is the third Shinawatra family member to lead Thailand and faces challenges in maintaining her coalition and attracting foreign investment.
#Thailand #Economy #Stimulus #PaetongtarnShinawatra #CashHandout #Tourism #ForeignInvestment #ShinawatraFamily #Politics #HouseholdDebt
https://theedgemalaysia.com/node/725948

2024-09-07 05:53:50

My Say: Malaysia sees economic optimism through increased IPOs and GLIC investments
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Malaysia's economy shows resilience with a Q2 GDP of 5.9%; IPO proceeds for the first seven months of 2024 rose 15% year on year to US$674 million; Johor Plantations Group raised RM735 million, marking the largest IPO in over two years; Bursa Malaysia targets 42 IPOs in 2024; GLICs committed RM120 billion in domestic direct investment over five years; key sectors for investment include electrical and electronics, palm oil, sustainable energy, and pharmaceuticals; Bank Negara Malaysia projects GDP growth at the upper end of 4% to 5%; potential risks include global economic volatility and interest rate fluctuations.
#Malaysia #Economy #Ipos #Glics #Gdp #Investments #BursaMalaysia #FinancialMarkets #EconomicGrowth #Sectors
https://theedgemalaysia.com/node/725641

2024-09-07 03:49:31

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#note13va…ufcw

2024-09-05 13:06:25

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#note1gsm…lx87

2024-09-05 13:06:14

US private payrolls post smallest increase in 3-1/2 years in August
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US private payrolls increased by 99,000 jobs in August 2024, the smallest gain since January 2021; July's increase revised down to 111,000; economists expected a rise of 145,000; ADP report indicates potential labor market slowdown; non-farm payrolls forecasted to increase by 160,000; unemployment rate expected to drop to 4.2% from 4.3% in July.
#UsEconomy #Employment #Payrolls #LaborMarket #AdpReport #UnemploymentRate #JobGrowth #EconomicIndicators #August2024 #RevisedData
https://theedgemalaysia.com/node/725734

2024-09-05 04:08:42

Oaktree’s Marks says Fed cuts won’t take US rates below 3%
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Howard Marks, co-chairman and co-founder of Oaktree Capital Management, stated that US interest rates will settle between 3% and 4% after Federal Reserve cuts, which are expected to begin in September 2024. He believes rates will not return to zero or near-zero levels, emphasizing that the emergency over inflation has ended. The Fed's meeting is scheduled for September 17-18, 2024, with traders divided on the extent of cuts. Oaktree manages US$193 billion as of June 30, 2024, and Marks noted that economic growth may slow and profit margins could erode, indicating a return to a 'normal' economic state. He also expressed confidence that China will not isolate itself globally, needing global cooperation to achieve its growth targets.
#FederalReserve #InterestRates #OaktreeCapital #HowardMarks #EconomicGrowth #China #Inflation #FinancialMarkets #Investment #UsEconomy
https://theedgemalaysia.com/node/725608

2024-09-04 02:38:03

Goldman sees US GDP hit if Trump wins, boost if Democrats sweep
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Goldman Sachs economists predict US GDP could decline by 0.5 percentage points in the second half of 2025 if Donald Trump wins the November election due to tariffs and tighter immigration policies; a 20-percentage-point increase in China tariffs and reduced immigration are expected; if Kamala Harris wins with Democratic control of Congress, GDP growth could see a slight boost due to new spending and expanded tax credits; in a divided government scenario with Harris, policy changes would have neutral effects; Trump's campaign argues forecasters underestimated growth post-2016; Goldman expects immigration under Harris to be 1.5 million annually, compared to 1.25 million under Trump; Trump's tariffs could lead to a 30-40 basis point inflation increase.
#GoldmanSachs #UsGdp #Trump #Harris #Election #Economy #Tariffs #Immigration #Inflation #Politics
https://theedgemalaysia.com/node/725443

2024-09-02 01:34:52

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#note1vn3…9csw

2024-09-02 01:34:41

Steel industry leaders in US have high hopes for revival in 2025
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American steel executives express optimism for a demand rebound in 2025; driven by an improving US economy and large infrastructure projects; Mike Barnett, president of Grand Steel Products, highlights consumer spending as a key factor; Nippon Steel Corp's proposed US$14.10 billion takeover of US Steel Corp faces political opposition; steel demand in H1 2024 was 50.9 million tons, down 0.4% from last year; US steel futures down 37% since January; Federal Reserve signals potential rate cuts; Biden's Infrastructure and Investment Jobs Act of 2021 allocates US$550 billion for steel projects; CRU analyst Alexandra Anderson warns of challenges with new steel capacity; US raw steel production rose 1.1% in 2023 to 89.7 million net tons; ongoing trade issues with cheap foreign steel and global price slumps; US presidential election could impact investor sentiment.
#SteelIndustry #UsEconomy #Infrastructure #NipponSteel #UsSteel #BidenAdministration #MarketOutlook #TradeIssues #PresidentialElection #ConsumerSpending
https://theedgemalaysia.com/node/725118

2024-08-31 04:02:30

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#note1p5m…melt

2024-08-31 04:02:18

Hunt for Fed-pivot winners sparks a rush to Malaysia, Indonesia
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Global investors are increasing investments in Indonesia and Malaysia due to expectations of benefits from US Federal Reserve monetary easing; sound fiscal policies and emerging tech sectors like EVs and data centers are attracting funds; John Lin from AllianceBernstein highlights responsible fiscal behavior as a key factor; Indonesia saw US$1.80 billion in foreign stock purchases, the highest since April 2022; Malaysia's foreign stock buying reached US$491 million, the highest since March 2022; both countries are experiencing significant economic growth; risks include leadership transitions and potential volatility in AI investments; optimism is high with upgrades from Nomura and HSBC; the ringgit and rupiah are among the top gainers against the dollar; Fed chair Jerome Powell indicated a potential rate cut in September.
#Investment #SoutheastAsia #Indonesia #Malaysia #FederalReserve #Economy #Stocks #Technology #PalmOil #ForeignInvestment
https://theedgemalaysia.com/node/725074

2024-08-31 02:40:10

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#note1g9u…7v7q

2024-08-29 23:48:40

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#note19d2…4ntq

2024-08-29 23:48:28

Asian stocks set to rebound after upbeat US data
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Asian stocks are expected to rise following positive US growth data indicating a potential soft landing for the economy; US equity futures in Australia surged while Japan's edged higher; the S&P 500 closed near 5,590, with the Dow Jones Industrial Average reaching an all-time high; the Nasdaq Golden Dragon Index rose 2.6%; the US economy showed stronger growth in Q2, with consumer spending revised upward; analysts suggest that as long as the tech sector remains stable, market gains could continue; traders are watching Tokyo inflation data for potential Bank of Japan rate hikes; Commonwealth Bank strategists predict another BOJ rate increase later this year; US Treasuries experienced slight losses, with a $44 billion seven-year note sale; the yield on 10-year bonds rose to 3.86%; oil prices increased due to strong economic data and supply issues in Libya.
#AsianStocks #UsEconomy #FederalReserve #Inflation #MarketTrends #Nikkei225 #S&p500 #OilPrices #Treasuries #BankOfJapan
https://theedgemalaysia.com/node/724902

2024-08-29 23:46:26

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#note162f…8ldv

2024-08-29 23:46:15

Citigroup sticks to bullish dollar call as election draws near
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Citigroup Inc. maintains a bullish outlook on the US dollar ahead of the presidential election in November 2024, despite the dollar's potential steepest monthly drop since December 2023. The bank's foreign-exchange strategy team predicts a rally against various currencies, including the euro, Chinese yuan, and Mexican peso, influenced by the possibility of a Donald Trump victory. The dollar has fallen approximately 1.7% in August 2024, attributed to expectations of the Federal Reserve cutting interest rates. The strategists note that the economy's performance and Fed pricing will likely be more significant for the dollar's direction than the election itself.
#Citigroup #UsDollar #PresidentialElection #DonaldTrump #FederalReserve #CurrencyStrategy #InterestRates #EconomicOutlook
https://theedgemalaysia.com/node/724901

2024-08-27 06:55:47

Special Report: Data centres crucial to draw investments
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Minister of Digital Gobind Singh Deo emphasizes the importance of data centres for the digital economy; Malaysia saw a 23% year-on-year increase in approved investments to RM329.5 billion in 2023; digital economy contributed 23% to GDP from 2021 to 2023, with a target of 25.5% by 2025; Google invested US$2 billion in a data centre in Shah Alam, expected to support 26,500 jobs and generate RM15.04 billion in economic impact; criticism exists regarding data centres' value addition and resource consumption; Gobind advocates for embracing data centre investments to attract global investments and enhance economic performance.
#DataCentres #DigitalEconomy #Investments #Ai #Malaysia #GobindSinghDeo #Google #Gdp #EconomicImpact #Infrastructure
https://theedgemalaysia.com/node/723476

2024-08-26 03:56:06

Powell’s pivot leaves traders debating size, path of rate cuts
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Federal Reserve Chair Jerome Powell indicated interest-rate cuts are imminent, signaling a shift from two-decade high rates; traders are now focused on the size of the first cut and future easing paths; Powell's comments led to a drop in US Treasury yields and the dollar, while boosting stocks; the benchmark 10-year Treasury yield fell to 3.8%, with a 1.44% gain in US government debt for August; traders anticipate a potential half-point cut in September; the next US labor report is due on Sept. 6, which will influence rate cut decisions; geopolitical tensions in the Middle East may impact market strategies; the dollar's decline makes it attractive for carry trades; the Japanese yen gained against the dollar, closing at 144.39 per dollar.
#FederalReserve #InterestRates #JeromePowell #Treasuries #Dollar #Stocks #GeopoliticalRisk #CarryTrades #Yen #MarketAnalysis
https://theedgemalaysia.com/node/724180

2024-08-25 03:05:13

Malaysia, India to upgrade bilateral FTA — Zafrul
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Malaysia and India aim to enhance their economic relationship through an upgraded Free Trade Agreement (FTA) following Prime Minister Anwar Ibrahim's visit to New Delhi; Anwar and Indian PM Narendra Modi discussed cooperation in digital economy, semiconductor manufacturing, AI, infrastructure, food security, and tourism; Investment Minister Tengku Zafrul Abdul Aziz announced plans to upgrade the Malaysia-India Comprehensive Economic Cooperation Agreement (Miceca) signed in 2011; Both prime ministers set a three-month timeframe to identify focus areas for the upgrade; Trade between Malaysia and India reached US$16.5 billion in 2023; Malaysia is the 11th largest destination for Indian exports and 12th largest source of imports; Malaysia's exports of electrical and electronics products to India have increased, while the share of primary commodities has decreased; Anwar highlighted the semiconductor sector's potential for cooperation, noting Malaysia's position as the sixth largest semiconductor exporter.
#Malaysia #India #Fta #Trade #Semiconductors #Economy #AnwarIbrahim #NarendraModi #Zafrul #Miceca
https://theedgemalaysia.com/node/724131

2024-08-25 01:44:01

US Fed mortgage bond holdings play 'central' policy rule, paper says
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Federal Reserve mortgage bond holdings are crucial for monetary policy; paper presented at Kansas City Fed's Jackson Hole conference on Aug 25, 2024; Fed's bond purchases since spring 2020 increased holdings to around US$9 trillion by summer 2022; mortgage bond holdings rose from US$1.4 trillion in March 2022 to US$2.7 trillion; paper states banks and Fed each reduced mortgage spread by about 40 bps during 2020/21, leading to US$3 trillion increase in mortgage originations; current Fed holdings down to US$7.3 trillion, with mortgage holdings at US$2.3 trillion; QT process slower than expected due to housing market conditions.
#FederalReserve #MortgageBonds #MonetaryPolicy #QuantitativeEasing #QuantitativeTightening #HousingMarket #Economics #InterestRates #JacksonHole #FinancialMarkets
https://theedgemalaysia.com/node/724123

2024-08-23 09:02:56

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#note1dtj…0mut

2024-08-23 09:02:45

Market pricing in too many Fed rate cuts, El-Erian warns
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Mohamed El-Erian warns that traders are overestimating the number of US Federal Reserve rate cuts expected by year end; he suggests a more realistic easing of 75 basis points instead of the market's expectation of up to 100 basis points; Fed minutes indicated a case for cuts discussed in July; employment growth data supports the likelihood of cuts; traders are looking for insights during the Fed's annual symposium in Jackson Hole, Wyoming, where Fed chair Jerome Powell will speak on the economic outlook.
#FederalReserve #InterestRates #MohamedElerian #MarketExpectations #EconomicOutlook #JacksonHole #Treasuries #EmploymentData #RateCuts #FinancialMarkets
https://theedgemalaysia.com/node/724024

2024-08-19 06:55:07

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#note144p…fuew

2024-08-14 16:25:31

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#note1ddk…r2qw

2024-08-14 16:25:20

US junk debt investors cautious of leveraged loans as economy slows
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Leveraged loan deals are expected to pick back up after a stabilization in markets over the past week; Borrowers pulled back on leveraged loan deals last week, following disappointing jobs data on Aug. 1 and Aug. 2; A total of six leveraged loans worth $3.3 billion sold last week, which falls well short of the $10 billion weekly average this year; One junk-rated loan deal sold on Monday, airline JetBlue Airways' five-year term loan; Leveraged loan funds reported $3.1 billion in outflows last week, which is the most since March 2020; The Morningstar LSTA US Leveraged Loan Index fell 0.55% on Aug. 5, the worst daily performance for the index since the collapse of Silicon Valley Bank in March 2023; A gap between net loan supply and investor demand since the Fed began hiking rates in 2022 should sustain demand for new loan deals through the end of this year; Further signs of an economic slowdown and aggressive Fed rate cuts could prove detrimental to certain leveraged borrowers' refinancing or new loan plans.
https://theedgemalaysia.com/node/722840

2024-08-12 09:11:51

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#note1kze…nay8

2024-08-12 09:11:39

Most Asian shares jump ahead of key US, regional economic data
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Shares in major Asian emerging economies gained on Monday; Taiwan's benchmark stock index led regional gains and was up 1.4%; South Korean shares jumped 1.2%; MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%; Malaysian ringgit and South Korean won depreciated 0.5% and 0.6% respectively against the US dollar; China is set to issue retail sales and industrial production figures on Thursday; Chinese yuan and Shanghai stocks were down about 0.2%; Philippine central bank's key policy rate decision on Thursday; Malaysia's second-quarter gross domestic product (GDP) data on Friday; Bank of America analysts expect Malaysia's second-quarter final GDP to be revised upwards by 30 basis points (bps) to 6.1% on a year-on-year basis; Philippine peso weakened 0.1%; Indian rupee was flat; Indonesian rupiah edged 0.3% lower; US consumer prices and retail sales for July due later in the week; Markets are pricing in a 53.5% chance of a 25 bps cut and a 46.5% probability of a 50 bps interest rate cut at the Fed's September meeting; Data on US industrial output, regional manufacturing, and consumer sentiment expected later this week.
#AsianShares #UsEconomicData #RegionalEconomicData #StockMarket #Currencies #China #Philippines #Malaysia #UsConsumerPrices #RetailSales #FederalReserve
https://theedgemalaysia.com/node/722476

2024-08-11 01:24:03

Small US inflation pickup won’t derail US Fed rate cut in September
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US inflation is expected to have risen 0.2% in July, but this is not enough to prevent the Federal Reserve from cutting interest rates next month. The recent easing of price pressures has given the Fed confidence to lower borrowing costs and focus on the slowing labor market. The July jobs report showed a decrease in hiring and an increase in the unemployment rate, triggering a recession indicator and a global stock market sell-off. Economists expect a slight pickup in inflation after June's low reading, particularly in core services excluding housing. However, the slowdown in shelter costs that began in June is expected to continue. Other upcoming data includes retail sales, inflation expectations, small business sentiment, industrial production, and new home construction. The Bank of Canada's rate cuts and key data from the UK, China, Norway, and New Zealand are also expected.
#UsInflation #FederalReserve #InterestRates
https://theedgemalaysia.com/node/722390

2024-08-09 15:31:17

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#note100r…ddmn

2024-08-09 15:31:05

US yields dip after volatile week, traders eye inflation data
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US Treasury yields fell after a volatile week driven by concerns about the US economic outlook; Investors turned to key inflation data for clues about the potential size of an expected September rate cut; Yields have regained ground after a dramatic bond rally sent them to more than one-year lows on Monday; A bigger-than-expected drop in jobless claims on Thursday eased worries about an imminent US recession; Consumer price data on Wednesday is expected to show inflation continuing to edge down closer to the Fed's 2% annual target; Fed policymakers are increasingly confident that inflation is cooling enough to allow interest-rate cuts; The odds of the Fed cutting interest rates by 50 basis points in its next policy meeting is now seen at 55%; Yields on interest rate-sensitive two-year notes were last down 1.6 bps at 4.028%; Benchmark 10-year note yields fell 6.5 bps to 3.932%; The yield curve between two- and 10-year Treasury notes flattened 5 bps to -10 bps
#UsTreasuryYields #InflationData #InterestrateCuts
https://theedgemalaysia.com/node/722358

2024-08-09 03:04:36

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#note14vu…dm92

2024-08-09 03:04:24

US Fed has cut rates amid stock swoons before. Not this time
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Speculation arises that the Federal Reserve may cut interest rates before its next scheduled meeting in September due to a slowdown in the US job market and global stock-market turmoil. However, analysts believe that the Fed is unlikely to move sooner and that the current economic data do not warrant an emergency intermeeting rate cut. Former New York Fed president Bill Dudley also considers an intermeeting cut to be very unlikely. Fed chair Jerome Powell is expected to provide further guidance on the potential rate cut at the September meeting based on upcoming data on jobs, inflation, consumer spending, and economic growth. In the past, the Fed has cut rates between policy-setting meetings in response to events such as the Russian financial crisis, the technology stock swoon, the September 11 attacks, the global financial crisis, and the Covid-19 pandemic.
#UsFederalReserve #InterestRates #StockMarket #Employment #PriceStability
https://theedgemalaysia.com/node/722240

2024-08-09 00:19:52

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#note1xst…ug2w

2024-08-09 00:19:40

Trump signals interest in influencing US Fed decisions if he regains White House
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Republican candidate Donald Trump stated that US presidents should have a say in decisions made by the Federal Reserve, indicating his interest in infringing on the central bank's independence if he becomes president again; Trump allies have drafted proposals to erode the Fed's independence; Trump believes he has a better instinct than those on the Federal Reserve or the chairman; Trump should be consulted on interest rate decisions and Fed banking regulation proposals should be subject to White House review if he becomes president; The Fed chair and board members are nominated by the president but enjoy operational independence; Economists worry that Trump's influence on the Fed could lead to policy missteps; Current Fed chair Jerome Powell's term expires in 2026; Trump has criticized Powell's interest rate hikes and threatened to fire him during his presidency.
#DonaldTrump #UsFederalReserve #InterestRates #CentralBank #Independence
https://theedgemalaysia.com/node/722219

2024-08-08 23:37:58

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#note1ahq…z6a6

2024-08-08 23:37:47

Barkin Says Fed Has ‘time’ to assess economy, determine response
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Federal Reserve Bank of Richmond President Tom Barkin says the central bank has time to assess whether the US economy is normalizing or softening; Barkin is optimistic about inflation readings in the coming months; Fed officials are shifting focus to the labor market; Financial markets reassess the Fed's stance on interest-rate policy after July jobs report; Investors are pricing in about a percentage point of interest-rate cuts this year; Some economists expect a jumbo half-point rate reduction at the next gathering in September; The Fed's preferred price gauge rose 2.5% in June from a year earlier; Barkin believes inflation is settling down and will continue to do so.
#FederalReserve #UsEconomy #Inflation #InterestRates #LaborMarket
https://theedgemalaysia.com/node/722215

2024-08-08 23:36:51

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#note1z2u…lptj

2024-08-08 23:36:40

S&P 500 notches biggest rally since November 2022
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The S&P 500 experienced its largest rally since November 2022 as US initial jobless claims tumbled the most in nearly a year, easing concerns about a slowdown in the US economy. All major groups in the S&P 500 advanced. Treasuries dropped across the curve, led by shorter maturities. The S&P 500 rose 2.3%, the Nasdaq 100 climbed 3.1%, and the Russell 2000 added 2.4%. Nvidia Corp. led gains in megacaps, and Eli Lilly & Co. soared on a bullish outlook driven by sales of its weight-loss drugs. Treasury 10-year yields rose four basis points to 3.99%. Swap traders trimmed bets on aggressive Federal Reserve easing in 2024. Cryptocurrencies surged. US stocks remain at risk of more severe declines if growth continues to decelerate and the Fed does not show urgency in easing monetary policy, according to Dubravko Lakos-Bujas at JPMorgan Chase & Co. UBS Group AG's Solita Marcelli remains confident US stocks will continue their upward trajectory in the coming months. Liz Young Thomas at SoFi believes there is more volatility to come and cooler economic and earnings data that will need to be digested for the remainder of the year. Neil Dutta at Renaissance Macro Research questions whether the Fed should be easing soon and whether a large upfront move is likely or not.
#S&p500 #UsLaborMarket #StockMarket #Bonds #JoblessClaims #FederalReserve
https://theedgemalaysia.com/node/722213

2024-08-08 12:32:39

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#note1653…pf53

2024-08-08 12:32:27

Treasuries gain before US data offers clues on growth outlook
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Treasuries gained as investors awaited data on the US labour market and remarks from a Federal Reserve official for more clarity on the path of monetary policy; Yields fell across the curve, with Fed rate-cut bets little changed on the day; Bond markets swung wildly in the past days as investors became more worried about the outlook for the US economy after a bleak jobs report last week; The market will be watching a US$25 billion auction of 30-year Treasuries at 1pm as 'the final test of investor appetite for US government bonds this week'; JPMorgan Chase & Co now sees a 35% chance that the US economy will tip into recession by the end of this year, up from 25% at the start of last month; Swaps are currently pricing 112 basis points (bps) of easing from the Fed this year, compared with about 65bps just over a week ago, with the chance of a half-point cut in September seen at 70%; For the ECB, expectations are for 72bps of additional easing this year, with a quarter-point cut fully priced in September, and for the BOE, traders expect another 48bps of cuts.
https://theedgemalaysia.com/node/722172

2024-08-08 08:24:38

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#note1gkg…0egr

2024-08-08 08:24:27

Malaysia's care economy potentially worth US$25.5b — deputy minister
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Malaysia's care economy has a potential worth of US$25.5 billion (RM114.2 billion), according to Deputy Economy Minister Datuk Hanifah Hajar Taib. The global market potential from the ageing population is projected to be US$4.56 trillion by 2025. Malaysia can leverage this trend to enhance societal well-being and productivity through new economic sectors such as the caregiver economy. Malaysia's industries could benefit from the growing demand for healthcare services, including opportunities in healthcare and long-term care tourism, medical equipment supplies, and advanced medical technologies employing artificial intelligence and robotics. Private companies are encouraged to develop products and solutions targeting the elderly and the caregiver economy.
https://theedgemalaysia.com/node/722130

2024-08-08 02:10:53

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#note12sq…ahqr

2024-08-08 02:10:42

Municipal bonds see biggest rout in nearly a year as economic views swing
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Municipal bonds experienced a significant sell-off as investors reduced their flight to quality bid; Yields on 15-year benchmark bonds surged 13 basis points, the largest increase in almost a year; The longest-dated securities saw yields rise by 10 basis points, erasing earlier gains; The volatility in the state and local government bond market is due to investors reassessing the rally in safer assets; Chicago delayed its $643 million bond sale due to the market swings; The sell-off is driven by a rapid change in investor expectations around the economy; Investors are now more optimistic about the macro economy and strong micro fundamentals.
https://theedgemalaysia.com/node/722083

2024-08-08 01:27:55

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#note1fdg…kv82

2024-08-08 01:27:44

JPMorgan boosts US recession chance to 35% by end of 2024
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JPMorgan Chase & Co now sees a 35% chance of a US recession by the end of 2024, up from 25% last month. The bank cites weakening labor demand and signs of labor shedding as reasons for the increased risk. However, JPMorgan economists still believe there is a 45% chance of a recession by the second half of 2025. The bank also predicts a 30% chance of the Federal Reserve and other central banks keeping interest rates high, down from a previous 50% assessment. JPMorgan expects the Fed to cut rates by half a percentage point in September and November. Goldman Sachs also recently increased its probability of a recession in the next year to 25%. If a recession were to occur, JPMorgan economists believe central banks would respond with immediate easing measures.
https://theedgemalaysia.com/node/722076

2024-08-07 15:46:36

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#note1wqq…n5fd

2024-08-07 15:46:24

Walt Disney warns of 'moderation in demand' at parks, as profit slips
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Walt Disney predicts a 'moderation in demand' at its theme park business in the coming quarters; Operating income at the parks is expected to be down 'mid single-digits' in the fiscal fourth quarter; Ben Barringer, technology and media analyst at Quilter Cheviot, says the parks results pour fuel onto the fire of concern about a slowing US economy; April-June operating income nearly tripled at Disney's Entertainment unit, with the combined streaming businesses of Disney+, Hulu, and ESPN+ posting a profit for the first time; Disney's experiences segment, which includes parks and consumer products, recorded an operating income drop of 3%; Adjusted earnings-per-share reached US$1.39 for Disney's fiscal third quarter, topping analyst estimates; Chief executive Bob Iger touts success in the entertainment division, where Disney's combined streaming businesses turned a profit a quarter ahead of projections; The movie studio is showing signs of resurgence with the success of "Inside Out 2" and "Deadpool & Wolverine"; The Entertainment division reported operating income of US$1.2 billion in the quarter; The Disney+, Hulu, and ESPN+ streaming services produced operating profit of US$47 million; Demand slid at domestic parks, cruise ships, consumer products, and some international parks delivered improved results;
#WaltDisney #ThemeParks #Profit #Demand #Entertainment #Streaming #Revenue
https://theedgemalaysia.com/node/722044

2024-08-07 08:11:36

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#note13g8…0x8l

2024-08-07 08:11:25

Brace for choppy oil market in near-term, say analysts
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Analysts are advising caution as the oil market is expected to remain volatile in the near term; Oil prices dropped to as low as US$75 on July 5, the lowest since December 2023, before rebounding later in the day; Brent crude added 0.27% to US$76.69 per barrel, while West Texas Intermediate advanced 0.37% to US$73.47 per barrel; Prices plunged last week as fears of a recession in the United States gathered pace and previously bullish investors sold their petroleum positions; The possibility of supply disruptions in the Middle East is helping to keep prices from falling off a cliff; SPI Asset Management managing partner Stephen Innes said that despite tensions in the Middle East, there has not been a major disruption to oil production; The US presidential election on November 5 could impact the future of the US oil and gas industries; Recent escalations in the Middle East, including the killing of Hezbollah and Hamas leaders, have heightened fears of a broader regional conflict; Venezuelan President Nicolas Maduro's victory in the election could influence Venezuela's oil production and the global oil supply; Geopolitical risks in the Middle East and supply concerns from Venezuela could influence market dynamics; OPEC+ may reevaluate production cuts if Brent crude prices remain weak; BMI expects the current weaknesses in the oil market to persist due to weak market conditions for demand; BMI's near-term view is that oil prices are set to rebound from the current levels, closer to the US$80 per barrel level; There is a growing expectation of a supply surplus later this year and into 2025 if OPEC+ countries proceed with their plan to start unwinding some of their voluntary cuts; Recent increases in fuel and crude stocks indicate that demand is failing to keep pace with supply.
#OilMarket #Volatility #SupplyDisruptions #MiddleEast #UsPresidentialElection #Venezuela #Opec+
https://theedgemalaysia.com/node/721983

2024-08-04 06:18:38

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#note1er4…5rpz

2024-08-04 06:18:27

Penang CM leads investment and trade mission to US
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Chief Minister Chow Kon Yeow is leading Penang’s investment and trade mission to the United States (US) from Sunday until Aug 14; The mission aims to renew ties and forge relationships with the corporate headquarters of American investors in Penang; It also aims to encourage the expansion of Penang sites and attract new investments; The mission seeks to update American companies on the latest developments and opportunities available in Penang; Penang recorded RM71.9 billion in investment inflows in 2023, the highest in Malaysia
https://theedgemalaysia.com/node/721598

2024-08-03 03:19:12

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#note1xzm…l9fc

2024-08-03 03:19:01

Flaring economic worries threaten US stocks rally
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Economic fears are roiling Wall Street as concerns grow over the Federal Reserve's interest rates; US job growth slowed in July, heightening fears of a recession; Tech stocks have tumbled, with the Nasdaq Composite down over 10% from its July high; Investors are worried that elevated borrowing costs may be hurting economic growth; Earnings reports from companies like Caterpillar and Walt Disney will provide more insight into the health of consumers and manufacturing; Futures markets suggest growing unease about the economy, with a 70% chance of a 50-basis-point rate cut in September; The Cboe Volatility index hit its highest level since March 2023; Investors are flocking to safe-haven bonds and defensive sectors like healthcare and utilities; Some investors believe the data is just a reason to lock in profits after a strong market rally.
#UsStocks #EconomicWorries #FederalReserve #InterestRates #JobGrowth #Recession #TechStocks #BorrowingCosts #EarningsReports #FuturesMarkets #CboeVolatilityIndex #SafehavenBonds #DefensiveSectors
https://theedgemalaysia.com/node/721561

2024-08-02 16:15:31

US rejects Vietnam's request to lift 'non-market economy' tag
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The Biden administration rejected Vietnam's request to be classified officially as a "market economy". Vietnam has been pressing for the status change since President Joe Biden's visit in September last year. The "non-market" economy label affects Vietnam in anti-dumping complaints. The US Commerce Department cited extensive government involvement in Vietnam's economy as the reason for the rejection. Vietnam has signed numerous free trade agreements and wants greater access to the US market. Changing Vietnam's market status has faced bipartisan Congressional push-back. Vietnam was removed from the US monitoring list for currency manipulation in 2022. Contact information for The Edge Communications is provided.
https://theedgemalaysia.com/node/721547

2024-08-02 15:34:33

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#note1fyp…xnhd

2024-08-02 15:34:22

2024-08-02 13:31:28

US job growth misses expectations in July; unemployment rate rises to 4.3%
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US job growth in July falls short of expectations, with non-farm payrolls increasing by 114,000 jobs, compared to the forecasted 175,000. The unemployment rate rises to 4.3%, marking the fourth consecutive monthly increase. The slowdown in job growth and rising unemployment rate raise concerns about the health of the labor market and the potential vulnerability of the economy to a recession. The Federal Reserve's interest rate hikes are dampening demand, leading to low hiring. Hurricane Beryl, which caused power outages in Texas and affected parts of Louisiana, likely contributed to the below-expectations job gains. Average hourly earnings rose 0.2% in July, with a 3.6% year-on-year increase, the smallest gain since May 2021. Despite wage growth remaining above the Fed's inflation target, the employment report supports the case for a September rate cut. The article does not provide any additional information beyond the US job market and economic indicators.
#UsJobGrowth #UnemploymentRate #LaborMarket #Economy #Recession #FederalReserve #InterestRateHikes #WageGrowth #Inflation #RateCut
https://theedgemalaysia.com/node/721536

2024-08-01 10:31:59

Japan's Nippon Steel raises full-year profit forecast, confident on US Steel deal
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Japan's Nippon Steel raised its full-year profit forecast and expressed confidence in closing its proposed acquisition of US Steel by year-end. Net profit in the first quarter fell 11% to ¥157.6 billion, but exceeded analyst expectations. Nippon Steel increased its net profit forecast for the year ending in March 2025 to ¥340 billion. The company received a second request for information and data from the US Department of Justice as part of the US government's review of the deal. Nippon Steel is confident it can close the deal by the end of the year, despite political opposition and objections from the United Steelworkers union. The company has committed to no job cuts, job or production transfer overseas, or plant closures. Former US Secretary of State Mike Pompeo has been hired to help seal the deal.
#NipponSteel #UsSteel #ProfitForecast #Acquisition #DepartmentOfJustice #UnitedSteelworkers #MikePompeo
https://theedgemalaysia.com/node/721300

2024-08-01 09:11:12

Thailand's flagship US$14b handout scheme suffers early snags as millions rush to register
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Thailand's flagship US$14 billion handout scheme, which aims to give 10,000 baht (US$282) to most of the population, experienced early setbacks as millions rushed to register on the opening day and crashed the registration system. By early afternoon, 10.5 million people had applied to join the scheme, but many others could not access the registration portal due to not receiving text message passcodes. The government has invested heavily in the scheme to stimulate the economy, but it has faced delays due to uncertainty over funding sources. Critics argue that the scheme is short-sighted and fiscally risky, while the government defends it. The lower house has approved an additional 122 billion baht for 2024's fiscal year to fund the digital wallet, but Senate and royal endorsement is still required. The scheme is expected to launch in two months and will transfer 10,000 baht of credit to users via a smartphone application to be spent locally within six months. The Finance Ministry expects the economy to grow 2.7% this year, supported by tourism and exports, and believes the handout programme could add 1.2 to 1.8 percentage points to growth next year. The objective of the policy is to stimulate regional economic activity and reduce concentration in cities. The scheme is open to 50 million people, with an expected uptake of 45 million, excluding those who earn more than 840,000 baht per year or have 500,000 baht in their bank accounts.
https://theedgemalaysia.com/node/721280

2024-07-31 08:16:12

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#note12gg…762v

2024-07-31 08:16:00

China’s consumer woes mount as weak spending slams global brands
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China's consumer spending downswing becomes a threat to global economic growth; Chinese services activity gauge on the brink of contraction; Consumption contributed less than half of growth to China's economy in Q2 2024; Global brands like Starbucks, L'Oréal, and Fast Retailing are affected by the domestic spending gloom; Chinese consumers pay more attention to price than quality; Top leaders in China vow to boost consumer spending; Lack of detailed plans from Beijing raises investor skepticism; Housing slump and frugality of Chinese households impact consumer spending; International companies like Starbucks and L'Oréal refine local strategies to win back customers; Chinese consumer stocks soar after Politburo pledges to roll out more consumption policies.
https://theedgemalaysia.com/node/721098