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Breaking news and analysis on global financial markets ( feed imported by https://press.coop )
Korea to Review Risky Financial Products After China-Tied Losses South Korea plans to review the sale of potentially high-risk investments after a probe found that banks missold China-linked structured products to retail investors who are facing more than $4 billion in losses. #press image
Hong Kong’s Apartment Glut Is Set to Keep Prices Down After Tax Cut Hong Kong’s home sales have roared back to life since the government scrapped extra property taxes last month. A supply glut means a rebound in prices is likely to take much longer. #press image
ECB Must Take Bet on Rate Cut as Prices Abate, Wunsch Says European Central Bank Governing Council member Pierre Wunsch reiterated that policymakers will eventually have to lower borrowing costs without being completely sure that inflation is returning to the 2% target. #press image
Five Things You Need to Know to Start Your Day: Asia Good morning. The US and India wrestle with sticky inflation. Boeing’s woes reverberate across the airline industry. Stock rally meets with skepticism. TikTok looks for a plan. Here’s what’s moving markets. — Isabelle Lee #press image
Chinese Provinces Expand Options for Fixing LGFV Debt Strains Chinese local government financing vehicles are turning to more diverse fixes for spiraling debt, trying to avoid becoming the first such entity to default in public markets as their borrowing habits become a top economic agenda in Beijing. #press image
Argentina Swaps $50 Billion of Local Debt to Push Out Repayments Argentina swapped 42.6 trillion pesos ($50.4 billion) of local notes for longer date debt as President Javier Milei’s government moves to ease its repayment schedule, setting up the largest domestic rollover in the country’s history. #press
Ending ‘Korea Discount’ a Key Goal, Top Financial Regulator Says South Korea is determined to end a perennial discount of its stock market and create a system that encourages retail investors and companies to rely on equities to raise wealth and capital, the country’s top financial regulator said. #press image
Singapore Sees Macro Uncertainty Impact on Property Sector: CNA A Singapore minister cautioned that economic uncertainties will weigh on the country’s real estate industry, as home sales in the city-state show flagging demand. #press image
Most Asia Stocks Eye Gains After US Shrugs Off CPI: Markets Wrap Most stocks in Asia look set to rise after the S&P 500 closed at a fresh record, with traders sticking to bets on Federal Reserve rate cuts for this year despite hotter-than-expected inflation data. #press image
Stock Investor With 1,900% Gain Breaks Long Silence in Japan For almost three decades, Stephen Butt’s company mostly stayed behind the scenes, a long-term investor in the tradition of Warren Buffett that saw little reason to draw attention to itself. #press image
ArcelorMittal Buys $1.04 Billion Equity Stake in Vallourec ArcelorMittal SA agreed to buy an equity stake worth $1.04 billion (€955 million) in tubular steel company Vallourec SA as it seeks to boost its exposure to more value-added products. #press image
Coinbase Global Plans to Offer $1 Billion in Convertible Notes Coinbase Global Inc., the largest US cryptocurrency exchange, said it plans to offer $1 billion in convertible senior notes to repay existing debt and for general corporate purposes. #press image
How a Physics Whiz Made a Killing Betting on Nature’s Catastrophes Investing in catastrophe bonds was the most profitable hedge fund strategy of 2023. John Seo used his physics background to develop a winning formula for his fund, Fermat, in a market that’s booming thanks to climate change and inflation. #press image
S&P 500 Notches New All-Time High | Beyond the Bell Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec. (Source: Bloomberg) #press image
Bloomberg Markets With Sonali Basak 03/12/2024 "Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Guests include: Neuberger Berman Global Head of Alternatives Tony Tutrone, and Eli Lilly Chairman, President, CEO, Dave Ricks (Source: Bloomberg) #press image
Labour's Rachel Reeves Responds to Jeremy Hunt's Budget "They've had five prime ministers, seven chancellors, 12 different growth plans" The UK government's attempts to boost the country's economy are "frankly not working," says Labour's Rachel Reeves as she responds to Jeremy Hunt's budget (Source: Bloomberg) #press image
ECB in Broad Agreement to Cut Rates in Spring, Villeroy Says There’s broad agreement at the European Central Bank to begin lowering interest in the spring as the battle against inflation is being won, according to Governing Council member Francois Villeroy de Galhau. #press image