Yields are rising in the US bond market Friday following a highly anticipated report on the US job market. The US stock market is closed in observance of Good Friday, as are many markets across Europe. That leaves the US bond market as one of the few open to react to the latest jobs update, which showed hiring lost a bit more momentum than expected last month but largely remained resilient. The data was so anticipated because it could offer a big clue for the Federal Reserve, which faces a tough decision on interest rates that will affect the entire economy. Should it keep raising rates in order to drive down inflation that's still high? Or should it hold off given all the signs of slowing across the economy and stress in the banking system that's already been caused by the past year's swift surge in rates? The immediate reaction from the bond market Friday morning seemed to lean toward another hike. Not only did yields rise for Treasurys, so did bets for the Fed to raise rates by
So far in 2023, the rupee has gained 0.5 per cent against the US dollar
While the Fed has been steadfast in its objective of curtailing inflation, focus has now shifted to maintaining a balance between bringing down inflation and avoiding financial instability
SVB crisis, Fed rate hike fears continue to keep markets on the edge
Expectations of further rate hikes in the world's largest economy and in Europe have clouded the global growth outlook and driven both crude benchmarks down more than 5% so far this week
The euro rose as far as $1.0913 after data showed Spanish inflation running surprisingly hot in January, before the broader mood reeled it back to $1.0851
Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China's borders bolstered the outlook for the global economy
Indian currency underperforms EM peers; analysts cite shrinking forward premia, widening CAD
So far in 2022, the Fed has hiked rates by a total of 375 bps, leading to a stronger dollar and diminishing the appeal of emerging market assets
Brent crude fell $3.08 to settle at $89.78 a barrel, down 3.3%. U.S. West Texas Intermediate (WTI) crude slid $3.95, or 4.6%, to settle at $81.64 per barrel.
Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3
The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion
It's too soon to write off the dollar's dominance as the US rate-hike cycle may not be near its peak
The Reserve Bank of India likely sold dollars via state-run banks on Monday after the rupee plumbed a fresh record low following a US jobs report that firmed bets of more aggressive rate hikes
The S&P index recorded two new 52-week highs and 49 new lows, while the Nasdaq recorded 12 new highs and 148 new lows.
The S&P index recorded two new 52-week highs and 49 new lows, while the Nasdaq recorded 12 new highs and 148 new lows.
Megacap growth stocks fall against rise in yields; oil prices add to inflation woes post OPEC+ output cut; US weekly jobless claims increase more than expected
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The Nifty50 index fell 89 points, or 0.5 per cent, to close at 17,630. The India Vix index rose 2.6 per cent to finish at 18.82
The measures have brought in $1.5-2 billion so far; response to relaxed FX norms tepid as US rates higher, RBI not acting as counterparty