China must quickly tackle rising corporate debt, warns IMF official

China must act quickly to address mounting corporate debt, a major source of worry about the world’s second-largest economy, a senior International Monetary Fund (IMF) official said on Saturday. David Lipton, first deputy managing director of the IMF, warned in a speech to a group of economists in the southern city of Shenzhen that companies’ indebtedness is a “key fault ... Read More »

Oil down 3 percent as U.S. drillers add rigs, strong dollar weighs

Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures. A slide of more than 1 percent in Wall Street share prices .SPX, the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. ... Read More »

Elusive S&P record looms as investors weigh data, Fed

With the S&P 500 again coming close to a record this week before falling back, investors will turn next week to a full slate of economic data and a Federal Reserve meeting in hope of fresh reasons whether to drive stocks to new highs. The benchmark large-cap index flirted with the current record when a rally to start the week ... Read More »

Japan to conduct appropriate JGB management to secure stable absorption

Chief Cabinet Secretary Yoshihide Suga said on Wednesday the Japanese government would continue to conduct an appropriate government bond management policy through close dialogue with markets to secure stable absorption of government debt. Suga, Japan’s top government spokesman, told a news conference that the government would closely monitor JGB markets. Bank of Tokyo-Mitsubishi UFJ said earlier it is considering quitting ... Read More »

‘Brump’ or ‘Trexit’? Markets may conflate year’s biggest risks

Even though market myopia is often used to explain why investors appear to be ignoring November’s U.S. presidential election while trading furiously around this month’s vote on Britain leaving the EU, the two events may end up being conflated. Fund managers and economists, including Harvard professor and Democrat grandee Lawrence Summers, puzzle endlessly as to why UK and European markets ... Read More »

Weak U.S. productivity likely to remain a drag on profits

U.S. nonfarm productivity fell less sharply than initially thought in the first quarter and labor-related costs surged for a second straight quarter as companies hired more workers to raise output, suggesting profits could remain under pressure. The Labor Department said on Tuesday productivity, which measures hourly output per worker, contracted at an annualized rate of 0.6 percent, instead of the ... Read More »

Oil hits eight-month highs on U.S. inventory draw, China imports

Oil prices rose for a third day to their highest in about eight months on Wednesday, helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on Nigeria’s oil industry and strong Chinese demand. London Brent crude for August delivery was up 9 cents at $51.53 a barrel by 0451 GMT, after settling up 89 ... Read More »

Asian shares return to gains as markets digest China trade data

Asian shares edged up on Wednesday, as markets digested Chinese trade data against the backdrop of a brightening energy sector outlook and an expected delay in interest rate hikes by the U.S. Federal Reserve. European markets though were poised for a subdued start, with financial spreadbetters expecting Britain’s FTSE 100 and France’s CAC to open down 0.2 percent, and Germany’s ... Read More »

Rosengren flags jobs report, yet says Fed rate hikes coming

The U.S. economy’s rebound from a weak winter has moved the Federal Reserve closer to raising rates, though last month’s poor employment report might give it pause, a top Fed official said on Monday. Boston Fed President Eric Rosengren, speaking in Finland, gave the latest hint that while the U.S. central bank remains on track to continue tightening policy it ... Read More »

Oil near six-month high as outages support

Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. Prices eased from the highs after Libyan factions agreed in principle to have one oil organization, potentially bringing higher output a step closer. Also, traders were eyeing the restart ... Read More »