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Goldman Sachs and Nomura both cut China’s GDP outlook, again

Goldman Sachs and Nomura both cut China’s GDP outlook, again

People cross the street during the hot weather on Aug. 15, 2022 in Guangzhou, China. The country is suffering from its worst heat wave in decades, which has strained power supply. Anadolu Agency | Getty Images Goldman Sachs and Nomura downgraded their forecasts for China’s growth, citing weaker demand, uncertainties stemming from zero-Covid policy and …

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Turkey shocks markets with rate cut despite inflation near 80%, lira tumbles

Turkey shocks markets with rate cut despite inflation near 80%, lira tumbles

Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain June 29, 2022. Nacho Doce | Reuters Turkey’s central bank shocked markets Thursday with a cut to its benchmark policy rate, despite inflation in the country sitting near 80%. Its main policy rate, which had been at 14% for the last seven months, …

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US retail sales were flat in July as inflation takes a toll

US retail sales were flat in July as inflation takes a toll

WASHINGTON — The pace of sales at US retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday. Economists had expected a slight increase in July retail sales. Still, Wednesday’s …

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Stock futures slightly lower after Dow snaps five-day winning streak

Stock futures slightly lower after Dow snaps five-day winning streak

Stock market futures were slightly lower early Thursday morning after the Dow snapped a five-day winning streak and the recent rally fades. Futures contracts tied to the Dow Jones Industrial Average were 69 points lower. S&P 500 futures were down 0.29% while the Nasdaq 100 futures fell 0.4%. During regular trading the Dow fell roughly …

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Fed minutes July 2022:

Federal Reserve officials at their July meeting indicated they likely would not consider pulling back on interest rate hikes until inflation came down substantially, according to minutes from the session released Wednesday. During a meeting in which the central bank approved a 0.75 percentage point rate hike, policymakers expressed resolve to bring down inflation that …

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This market signal says a bottom is not in, Bank of America claims

Stocks still have further to fall, especially going off one key indicator, according to Savita Subramanian of Bank of America. The Rule of 20 is one of the signposts that Subramanian watches to gauge a market bottom. The rule, which is the sum of year over year consumer price inflation plus trailing price-to-earnings has been …

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Treasury yields rise as markets await Fed meeting minutes

US Treasury yields rose Wednesday on weaker demand for fixed income assets as investors await the release of the Federal Reserve’s minutes from its July meeting. The yield on the benchmark 10-year Treasury note rose just over 4 basis points to 2.869%, while the yield on the 30-year Treasury bond traded up 2 basis points …

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Bear market bottom or false dawn? Here’s what one strategist says

Major US indexes kept up their second-half bounce with another solid week of gains last week — sparking hope that the bear market might be at an end. But strategist Victoria Fernandez is not calling the bottom yet, as she continues to monitor several key indicators for signs that the market has bottomed. “We are …

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Bond yields are flat as traders look ahead to big data releases

Bond yields were flat Tuesday as markets looked ahead to new data on housing, manufacturing and retail sales. The yield on the benchmark 10-year Treasury note was up less than 1 basis point at 2.797%, and the yield on the 30-year Treasury bond fell marginally to 3.096%. The yield on the shorter-term 2-year Treasury note …

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Treasury yields slip as investors digest recent US inflation data

Bonds yields slipped Monday, as investors digested the previous week’s wave of data releases and questioned whether the US Federal Reserve may slow its tightening cycle on improved inflation news. The yield on the benchmark 10-year Treasury note was last down 5 basis points at 2.799%, while the yield on the 30-year Treasury bond traded …

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