Briefings
Archive May 2025
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Week InAdvance: May 30, 2025
- By: admin
- On: 05/30/2025 13:26:33
- In: Week InReview
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US stock futures slipped as traders navigated confusion over tariffs that are mired in legal battles, slow-moving negotiations, and policy shifts. Focus this morning turns to price data for signals about the state of the economy and the outlook for interest-rate cuts.
Risk mood sours amid renewed concern over tariffs. Stocks in Asia slide with US and European equity futures as a federal appeals court offered a temporary reprieve from a ruling threatening to throw out the bulk of his tariff agenda. The greenback edges higher against most of its G10 peers.
Hong Kong stocks underperform regional peers. Treasury Secretary Scott Bessent said trade talks with China are "a bit stalled," and may require a call between the US and China to reach a deal.
Bond traders are increasingly concerned about mounting US government debt, which is seen as a bigger risk than tariffs, according to Goldman Sachs Group’s president. In the meantime, a proposed tax measure in a US tax-and-spending bill is alarming Wall Street.
The proposed US tax bill contains an obscure measure that calls for increasing tax rates for people and companies from countries whose tax policies the US deems “discriminatory,” which analysts say could drive away foreign investors, particularly from Treasuries.
Week InAdvance: May 26, 2025
- By: admin
- On: 05/26/2025 14:21:21
- In: Week InAdvance
Week InReview: May 23, 2025
- By: admin
- On: 05/23/2025 11:35:12
- In: Week InReview
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US stock futures are little changed as a rebound in Treasuries helps temper concern over America’s fiscal outlook. The S&P 500 is still headed for its biggest weekly drop since the early-April tariff selloff. Asian stocks rose for a sixth week.
Stocks in Asia rise as bonds stabilize. Treasuries hold gains following Thursday’s rally, while US equity futures wobble after the S&P 500 lost steam to finish lower. The greenback weakens against all its G10 peers.
A surge in long-term yields is threatening to upend a crowded hedge-fund bet that Treasuries will perform better than interest-rate swaps. Meanwhile, an institutional investor’s multi-billion-dollar bullish bet on US stocks has become the talk of the options market.
Meanwhile, at the Fed, the manager of the central bank’s massive portfolio of securities said its effort to reduce the size of its balance sheet is beginning to place pressure on the market for repurchase agreements.
The US Supreme Court shielded the Federal Reserve from the administration's push to fire top officials at independent agencies, a decision likely to quell concerns that Jerome Powell might be fired. |
Week InReview: May 19, 2025
- By: admin
- On: 05/19/2025 11:48:11
- In: Week InAdvance
Week InReview: May 16, 2025
- By: admin
- On: 05/16/2025 11:34:37
- In: Week InReview
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US stock-index futures gained, with the S&P 500 on track for one of its biggest weekly increases this year, as easing trade tensions between the US and China buoyed appetite for risky assets and traders bet the Federal Reserve will step in to avoid a recession.
Stocks in Asia remain subdued amid lingering concern over trade wars. The US dollar weakens against all its G-10 peers. The Treasury 10-year yield edges lower after falling 10bps Thursday as traders priced in two rate cuts from the Fed this year.
European assets look set to be in sharper focus, as China’s widening trade surplus with the EU is fueling concerns that the bloc risks becoming a dumping ground for cheap goods. On the geopolitical front, hopes for a Ukraine ceasefire faded after Vladimir Putin sent a low-level delegation to talks in Turkey.
Treasuries gained as a fresh spate of economic data offered signs of ebbing economic activity and dimming inflation, supporting bets that the Federal Reserve will cut interest rates twice this year. The dollar dropped against most major currencies.
Fed Chair Jerome Powell said policymakers are weighing changes to key parts of the framework that guides their monetary policy decisions, including how they think about shortfalls in US employment and approach their inflation target. |
Week InAdvance: May 12, 2025
- By: admin
- On: 05/12/2025 11:33:35
- In: Week InAdvance
Mon May 12 SEC Crypto Task Force tokenization roundtable. IOSCO annual meeting. | Tue May 13 US CPI. SNB-FRB-BIS global risk forum. US CPI. Japan money stock. | Wed May 14 NATO informal ministers meeting. | Thu May 15 US trade talks with China. | Fri May 16 International Day of Living Together in Peace. EU leaders meet in Albania.
Week InReview: May 9, 2025
- By: admin
- On: 05/09/2025 16:40:08
- In: Week InReview
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Stocks in Asia rise ahead of the US-China trade talks expected this weekend.
US equity index futures edge higher following Wall Street’s risk-on mood Thursday.
Meanwhile, banks and brokers are seeing rising demand for currency derivatives that bypass the dollar. Some of Asia’s richest families are cutting exposure to US assets.
Bitcoin crossed the $100,000 threshold for the first time since February, fueled by expectations of easing global trade tensions. Meanwhile, stocks rose after Trump said people should “go out and buy stock” ahead of the China trade talks. Bonds fell, adding to the risk-on tone.
The US said it’s developing a fast-track process for screening foreign investments in the US, an effort Trump administration officials expect could smooth the way for billions from wealth funds in the Saudi Arabia, the United Arab Emirates and Qatar.
Cardinal Robert Francis Prevost is now Pope Leo XIV, becoming the first Roman Catholic pontiff from the US. He is seen as a possible bridge between the more moderate and hard-line sides of a divided Church.
Week InAdvance: May 5, 2025
- By: admin
- On: 05/05/2025 10:15:16
- In: Week InAdvance
Week InReview: May 2, 2025
- By: admin
- On: 05/02/2025 11:59:21
- In: Week InReview
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The S&P 500 is set for a ninth day of gains, its longest winning run since 2004. Bitcoin nears $100,000. Meanwhile, gold has fallen below $3,300 an ounce and heading for the first back-to-back weekly loss this year.
It’s jobs day. The data will provide the first look at the labor market since the US imposed sweeping punitive tariffs. Nonfarm payroll growth probably decelerated to 138,000 last month after blowing away expectations in March, estimates show.
Stocks in Asia rally as China said it is assessing the possibility of trade talks with the US. Futures on the S&P 500 Index erase early losses, with European contracts outperforming. The Bloomberg Dollar Spot Index slips while US Treasuries edge down.
Treasury yields rose after investors slightly curbed their bets on US interest-rate cuts this year following moderately better-than-expected manufacturing data.
Japan’s Finance Minister Katsunobu Kato said the country’s US Treasury holdings are a card in ongoing trade negotiations, speaking on TV Tokyo. But whether Japan will use that card is a different decision, he said.