U.S. options market operators have agreed in recent months on the need for new automatic trading halts when stock options prices suddenly surge or plunge, in a bid to reduce excess volatility and blunt the impact of erroneous trades, according to five sources with knowledge of their discussions. …
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U.S. stock options markets agree to need for trading halts on big moves
The latest flash PMI data signalled a deepening downturn in France ’ s private sector economy during October. The seasonally adjust ed Markit Flash France Composite Output Index , based on around 85% of normal monthly survey replies, slipped to 48.0, from 48.4 in September. That w…
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French private sector output falls at sharpest rate in eight months
U.S. gross domestic product grew by just 12 percent in five years after the summer of 2009. Compared with past recoveries, that’s feeble. In the first five years of the 1960s expansion, the U.S. economy advanced by 35 percent. Growth was 28 percent in the first five years of the “Reagan recovery” of…
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Secular Stagnation
Japan should go ahead with a second sales tax hike next year in order to maintain credibility of its fiscal framework, an International Monetary Fund official said on Thursday. “Going ahead with the tax (hike) is very important,” said Roberto Guimaraes-Filho, deputy division chief of the Regional…
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IMF urges Japan to go ahead with planned tax hike next year
Thursday’s a busy day for economic news, including an early look at October’s macro trend for Germany via the flash estimate for the manufacturing sector via Markit’s purchasing managers index (PMI). Later, we’ll see a pair of US updates that will provide early clues for evaluating the state of …
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3 Numbers: German manufacturing contracts again, US jobs, US output
UBS AG (UBSN) is seeking to bolster its position as the largest manager of private wealth in Asia by looking for millionaires in an unlikely place: the lower-income part of Hong Kong. Switzerland’s largest bank is searching for clients in Kowloon, a name derived from the Cantonese translation for…
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UBS Hunts for Millionaires in Hong Kong’s Nine Dragons
Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese manufacturing failed to impress markets. Japan’s Nikkei share average fell 0.5 percent while MSCI’s broadest index of…
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Asia stocks hobbled by growth woes, China PMI fails to impress
Halsey Minor made a name for himself during the dot-com boom with CNET. Now he’s climbing onto another new-technology wave with BitReserve, a bitcoin-wallet service unveiled in May that will become publicly available later this month. BitReserve has a few features differentiating it from other di…
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CNET Founder Readies BitReserve Launch in Bid to Quell Bitcoin Volatility
Back in early September, Nomura cut its EUR/USD forecasts to 1.27 for end of September and end of Q4. Today, Nomura cuts again its Q4 target for EUR/USD from 1.27 to 1.24. For 2015, Nomura forecast are unchanged continuing to target 1.20 by Q2 2015. Nomura highlights six specific pieces …
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6 Reasons For Cutting Our N-Term EUR/USD Forecasts Again – Nomura
The Australian dollar fell on Thursday despite mildly upbeat data from a bank business survey and one on manufacturing in China. AUD/USD traded at 0.8756, down 0.25%, while USD/JPY held at 107.26, up 0.10%. Business confidence in Australia held at plus 3 in the third quarter, while conditions ro…
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Australia dollar down despite upbeat NAB survey, China PMI
Key points •Flash China Manufacturing PMI™ at 50.4 in October (50.2 in September). Three-month high. •Flash China Manufacturing Output Index at 50.7 in October (51.3 in September). Five-month low. Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & C…
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Slowest expansion of China manufacturing output in five months
Key points: •Flash Japan Manufacturing PMI™ at 52.8 (51.7 in September).Modest improvement in business conditions in September. •Flash Japan Manufacturing Output Index at 52.3 (53.4 in September). Moderate growth for third successive month. Amy Brownbill, Economist at Markit, which compile…
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Japan manufacturing: new order growth highest in eight months
Janet Yellen runs the Federal Reserve now, but that doesn’t mean that notions about what used to be known as the “Bernanke put,” named after her predecessor, Ben Bernanke, have expired. So far, there’s been little talk of a “Yellen put,” but the U.S. Federal Reserve still remains ready to bail ou…
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What would it take to trigger the ‘Fed put’?
The NAB’s quarterly business survey is out this morning – it’s the big brother of the monthly survey and has more respondents allowing a deeper dive into the economy. The survey showed that business confidence (+6) and conditions (+3) are at, or better than, long-run averages but the NAB’s commen…
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NAB: Rise In Business Conditions Mask Underlying Pressures On Australian Business
Technical Sentiment: Bullish Key Takeaways •USD builds bullish momentum ahead of Unemployment Claims; •Higher Low warns of inverse Head and Shoulders; •Japan Flash Manufacturing PMI due later tonight, with bullish expectations; •USD/JPY faces huge resistance clusters at 107.40 and 107.80. Pric…
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USD/JPY Builds Momentum; Key Resistance at 107.40
Joseph Weisenthal, the executive editor of Business Insider, will join Bloomberg as the host of a daily TV show and managing editor of its website’s markets coverage, the company announced on Tuesday. …
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Joseph Weisenthal leaves Business Insider to join Bloomberg
During the early hours of the Asian trading session on Thursday, the AUD/USD is remaining very steady below the resistance at 0.8800 again after finishing last week meeting significant resistance there. The Australian dollar was in a free-fall for a lot of last year falling close to 20 cents and it…
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AUD/USD – Remains Steady Below Resistance at 0.88
Reserve Bank Governor Graeme Wheeler has used a speech to an international audience to talk up the central bank’s policies restricting banks’ low equity mortgage lending and forcing them to use more deposits and longer-term wholesale money for funding. Wheeler also dismissed the idea of capital c…
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Governor Graeme Wheeler says RBNZ to review LVR ‘speed limits’ criteria and implications next month
The consumers price index (CPI) rose 0.3 percent in the September 2014 quarter, Statistics New Zealand said today. This is the third consecutive quarterly rise of 0.3 percent. “Higher housing-related prices were responsible for about three-quarters of the rise in the CPI this quarter. The rest of…
Global equity markets fell on Wednesday, reversing earlier gains driven by solid corporate earnings and mild U.S. inflation data that may let the Federal Reserve keep interest rates lower for longer, as U.S. stocks retreated after some big corporate names sold off. Wall Street fell as Boeing Co a…
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Shares falter as Wall St tumbles; bond prices fall
