Archive November 2024
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Week InReview: November 29, 2024
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US equity futures are gaining.
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Week InAdvance: November 25, 2024
Mon Nov 25 Emmy nominations. Vietnam court to conclude property tycoon Truong My Lan’s death penalty appeal.
| Tue Nov 26 FOMC minutes.
| Wed Nov 27 The Fed’s preferred inflation gauge.
| Thu Nov 28 US Thanksgiving holiday. Markets closed.
| Fri Nov 29 Black Friday, the traditional start of the US holiday shopping season. |
Sun Dec 1 OPEC meeting.
South Africa takes over the one-year presidency of the G20. The first day of Advent and the first day of meteorological winter in the northern hemisphere.
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Week InAdvance: November 18, 2024
Mon Nov 18 Group of 20 summit opens in Brazil. COP29 UN climate conference continues in Azerbaijan. IOSCO, BIS, FSI conference in Madrid.
| Tue Nov 19 Basel Committee meets. Hong Kong sentencing. Australia's central bank issues policy minutes.
| Wed Nov 20 BIS's FSI meets on financial inclusion. Regulatory oversight hearing in the House. ECB issues financial stability review.
| Thu Nov 21 CFTC's GMAC meets. Fed's Barr speaks on banks and AI.
| Fri Nov 22 NATO parliamentary session in Montreal.
| Sat Nov 23 Labor Thanksgiving Day in Japan.
| Sun Nov 13 'Stir Up Sunday' in the UK, when
Christmas puddings and cakes are traditionally cooked
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Week InReview: November 15, 2024
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US economy doing just fine.
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Fed Chair Jerome Powell says the US economy is doing just fine, so there’s no rush to lower interest rates. Traders dialed back their estimates of a cut next month to less than 60% from roughly 80% a day earlier.
Stock-index futures drop on Powell’s comments. A gauge of the dollar is set to rise about 1.4% for the week. European equities head for a fourth weekly decline and Chinese stock slumped.
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Week InAdvance: November 11, 2024
Mon Nov 11 Veterans Day holiday in US, Remembrance Day holiday in Canada. Bond markets are closed in both countries; stock markets are open. COP29 climate conference in Azerbaijan. Bank of Japan issues details of policy meeting. | Tue Nov 12 Brazil central bank meeting minutes. | Wed Nov 13 Swedish Riksbank issues details of policy meeting. | Thu Nov 14 Eurozone GDP. Swedish Riksbank issues financial stability report. | Fri Nov 15 EC publishes economic forecasts. Japan GDP. Birthday of Sikhism founder, holiday is celebrated across India.
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Week InReview: November 8, 2024
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US stock futures retreated on Friday morning, tracking steeper losses in Europe. The S&P 500 is up 4.3% so far this week.
US equity funds took in $20 billion on Wednesday, the biggest daily addition in five months, according to Bank of America.
Fed Chair Jerome Powell said he would not resign from his role if asked to do so. The comment follows the Fed’s decision Thursday to cut rates by 25 bps. The dollar remains subdued, with a gauge of the greenback set for the first weekly loss since September.
US stocks hit fresh all-time highs after Federal Reserve Chair Jerome Powell said the economy is strong. The central bank cut interest rates by 25 basis points — as expected.
The Treasury market managed only a small rebound from Wednesday’s selloff, triggered by the Fed rate decision and jobless claims data showing some softening in the labor market. The 10-year Treasury yield slid about 11 basis points Thursday to 4.33%.
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Week InAdvance: November 4, 2024
Mon Nov 4 Public holiday in Japan observed for Culture Day.
| Tue Nov 5 Australia rate decision. Guy Fawkes Day in the UK.
| Wed Nov 6 Bank of Canada, Bank of Japan, and Colombia’s central banks issue details of recent policy meetings.
| Thu Nov 7 Fed and BOE announce rate decisions and hold news conferences. Both central banks are seen opting for gradual easing amid signs that inflation continues to ebb.
| Fri Nov 8 US Grammy Awards nominations.
| Sat Nov 9 'Green Swan 2024' hosted by
the Bank for International Settlements, Bank of Japan, Bank of Spain, and the Network for Greening the Financial System. 35th anniversary of the fall of the Berlin Wall.
| Sun Nov 10 Remembrance Sunday in the UK.
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Week InReview: November 1, 2024
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Stocks rise. Amazon rallies. Oil jumps.
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Stocks rise before a US payrolls report. Traders will scour the data for clues before next week’s Federal Reserve meeting.
Amazon rallied in early trading on strong earnings, which showed growth in cloud computing and online retail. Apple gave a tepid forecast for holiday sales. Intel jumped as the results spark optimism of a turnaround.
Oil jumps as Axios reports that Iran may be preparing to attack Israel from Iraqi territory in the coming days. Exxon Mobil and Chevron release earnings today.
UK bonds extended losses, with the 10-year set for the worst week of the year. Chancellor Rachel Reeves sought to reassure markets, saying in a Bloomberg TV interview that the government's “No. 1 commitment” is “economic and fiscal stability.”
Treasury 10-year yields edge lower but still post the biggest monthly jump since September 2022 ahead of the October non-farm payrolls report due Friday.
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