Treasury yields firmer amid hawkish Fed chatter and looming CPI data
Bond yields rose as markets continued to absorb another bout of hawkish Fed commentary.What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.245% rose 2.1 basis points to 4.237%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y, 3.568% rose 1.1 basis points to 3.550%. The yield on the […]
Inari Amertron falls after report that Apple plans to drop broadcom chip
Shares of Inari Amertron Bhd. fell as much as 8.9% in early trade following a report that Apple Inc. plans to cease using some parts from major chip suppliers, including Broadcom Inc., by 2025. Shares of the Malaysia’s leading outsourced semiconductor assembly and test provider 0166, -5.71% dropped to 2.57 ringgit (59 U.S. cents) on […]
BYD’s Shares Fall After Warren Buffett Cuts Stake in Company Again
By Bingyan Wang Shares of BYD Co., the Chinese rival to Tesla, fell Tuesday after Warren Buffett further trimmed his holding in the company. The listed Chinese electric vehicle maker slid as much as 2.9% in morning trade in Hong Kong, while the benchmark Hang Seng Index was 0.4% lower. BYD’s shares in Shenzhen dropped […]
Morgan Stanley’s Mike Wilson warns U.S. stocks could slump another 22% if recession arrives in 2023
U.S. equities could face a sharper-than-expected selloff in 2023 from a recession shock that pushes stocks down another 22% from the current levels, according to Morgan Stanley’s Michael Wilson. The chief equity strategist, who correctly predicted the 2022 stock-market selloff, which saw all three major indexes cement their worst annual losses since 2008, suggested on […]
Look for a big cut to TSMC’s 2023 outlook as a bullish sign for chips, one analyst says ahead of earnings
The best thing Taiwan Semiconductor Manufacturing Co. can do in its earnings report Thursday is to cut its outlook for 2023 big, indicating a bottoming in the first half of the year, according to one analyst Monday. TSMC TSM, +3.87% is scheduled to report fourth-quarter earnings on Thursday at 1 a.m. Eastern Time. Needham analyst […]
Treasury yields pull back to mid-December levels
Treasury yields fell across the board Monday, with the 10-year rate declining to its lowest yield in about three weeks, as investors monitored China’s reopening and awaited remarks this week by Federal Reserve Chair Jerome Powell and a round of U.S. inflation data.Price action The yield on the 2-year Treasury note TMUBMUSD02Y, 4.220% fell 6.3 […]
Walgreens may have ‘cried too much last year’ about theft, CFO says
After worries in the retail world about a rise in theft, at least one company — Walgreens Boots Alliance Inc. — said it may have been overreacting. “ ‘Maybe we cried too much last year when we were hitting numbers that were 3.5% of sales.’ ” — James Kehoe, CFO of Walgreens The drugstore chain’s […]
Swiss National Bank estimates it’ll record $143 billion loss
The Swiss National Bank on Monday estimated it will lose 132 billion francs ($143 billion) for 2022, reportedly the largest in its history. The central bank, which unlike most others is an active investor in stock markets, said it’s estimating a 131 billion franc loss on foreign currency positions, and a 1 billion loss on […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]
The Dry January question: Would you pay $17 for a cocktail without alcohol?
When diners make their way to Esmé, a Michelin-starred Chicago restaurant known for its fanciful tasting menu, they have the option of pairing their food with an equally fanciful array of cocktails.The drinks range from one called Curried Corn, made with corn stock and an array of spices, to another dubbed Johnny Apple Tea, prepared […]