By Jamie McGeever ORLANDO, Florida (Reuters) -One of the ironies of the burst of volatility that just blindsided financial markets is its inevitability. Trades that are only feasible – and only highly profitable – in a world of low volatility are suddenly exposed when “vol” spikes. While traders can maintain these positions for a long …
Don’t be surprised when unstable trades blow up: McGeever Read More »
SINGAPORE (Reuters) – After a turbulent week in global markets, the worst of the selloff might be over but investors need to “keep the reins tight on big directional bets for now,” Goldman Sachs global head of hedge fund coverage Tony Pasquariello said. In a client note issued on Wednesday seen by Reuters, Pasquariello called …
Worst of market selloff might be over but hold on tight, Goldman says Read More »
(Reuters) -Canada’s Manulife Financial reported a rise in second-quarter profit on Wednesday, thanks to strong growth in its Asia business. The country’s largest insurer has increasingly bet on its Asia business to boost growth as it looks to diversify away from home. Annual premium-equivalent sales rose 17% in the quarter, powered by a 61% jump …
Insurer Manulife’s second-quarter profit rises on strong Asia growth Read More »
By Matt Tracy (Reuters) – U.S. corporate borrowers flooded the market for new bond sales on Wednesday after sitting on the sidelines earlier in the week due to a spike in borrowing costs. At least 17 corporate issuers tapped the U.S. bond market on Wednesday, including multi-billion dollar deals for tech giant Meta Platforms, automaker …
US corporate bond issuance jumps after brief pullback Read More »
By Karen Brettell (Reuters) -U.S. Treasury yields rose on Wednesday after the Treasury Department saw soft demand for a $42 billion sale of 10-year notes and as companies rushed to sell debt as risk appetite improved. Supply is the main focus this week as traders wait on fresh economic data for further clues on the …
Yields rise after weak 10-year auction, heavy corporate supply Read More »
NEW YORK (Reuters) – Shares of Lumen Technologies surged 30% on Wednesday, extending gains from the previous session, after the telecommunications company boosted its annual free-cash-flow forecast due to demand related to artificial intelligence. Lumen shares were trading at $6.54 per share after hitting an intra-day high of $7.83, which is the highest since October …
Lumen Technologies shares extend AI-fueled surge after rosy cash-flow outlook Read More »
By Georgina McCartney and Scott DiSavino HOUSTON/NEW YORK (Reuters) – Major U.S. natural gas producers are preparing to further curtail production in the second half of 2024, after prices sank nearly 40% over the past two months. Henry Hub gas futures have dropped to around $2 per million British thermal units (mmBtu), while in West …
US natural gas producers eye more output cuts as prices sink Read More »
PARIS (Reuters) – The Paris Olympics is giving a much-needed lift to the French economy thanks to increased consumer spending, according to a report from U.S bank card and financial transactions firm Visa. France, the euro zone’s second-biggest economy, is banking on the Games to shore up its meagre growth, with its statistics office predicting …
French economy given a lift by Olympics, says Visa Read More »
By Leika Kihara HAKODATE, Japan (Reuters) -The Bank of Japan’s influential deputy governor said on Wednesday the central bank will not hike interest rates when markets are unstable, playing down the chance of a near-term hike in borrowing costs. The remarks by Shinichi Uchida, which contrasted with Governor Kazuo Ueda’s hawkish comments made last week …
BOJ deputy governor plays down chance of near-term rate hike, yen slumps Read More »
LONDON (Reuters) – Britain’s economy grew more strongly than previously thought in 2022, according to revised official data that gave more weight to the oil and gas sector which was buoyed by high prices and the health service as it caught up with COVID-19 backlogs. The Office for National Statistics said on Wednesday it now …
