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ANKARA (Reuters) – Turkey will move to inflation-adjusted accounting, but financial institutions may be excluded from the practice, Finance Minister Mehmet Simsek said late on Tuesday. Turkish companies’ end-2023 balance sheets will be inflation adjusted, with the practice expected to continue until 2026 due to current inflation forecasts, the Treasury told Reuters last week, a …

Turkey may exclude banks from inflation-adjusted accounting -minister Read More »

(Reuters) – Activity in Russian manufacturing grew in October as new orders increased at their fastest pace in more than 12-1/2 years, a business survey showed on Wednesday, while pressure on firms to expand production capacity continued. The S&P Global Purchasing Managers’ Index (PMI) for manufacturing eased to 53.8 in October from 54.5 in September, …

Russian factory activity grows in Oct as new order expansion quickens -PMI Read More »

By Karin Strohecker and Sumanta Sen LONDON (Reuters) – Central banks across major developed economies in September delivered no rate hikes for the first time since January 2022 while emerging markets extended their split between easing in Latin America and much of central Europe and tightening in Asia. October saw five of the central banks …

G10 central banks hit rate plateau in October, emerging markets diverge Read More »

By David Randall NEW YORK (Reuters) – Investors should be prepared for long-duration Treasury yields to reach 7% if the U.S. economy skirts a widely anticipated recession, Ned Davis Research warned in a note on Tuesday. Benchmark 10-year Treasury yields, which move inversely to prices, are hovering near 16-year highs of 5% as investors price …

Benchmark 10-year Treasury yield could top 7%: Ned Davis Research Read More »

By Francesco Canepa FRANKFURT (Reuters) – Inflation in the euro zone is falling fast and the economy has begun contracting, data showed on Tuesday, illustrating the dual impact of a steady diet of European Central Bank interest rate hikes. Prices rose by just 2.9% in October, their slowest pace since July 2021, a Eurostat flash …

Euro zone inflation and growth fall as ECB hikes bite Read More »

By Marine Strauss and Tassilo Hummel PARIS (Reuters) – The French economy grew by 0.1% in the third quarter, with growth slowing from the previous quarter but staying just above zero thanks to household spending, preliminary data from the INSEE statistics agency showed on Tuesday. Household consumption was up by 0.7%, while INSEE data also …

French GDP growth slows, inflation eases Read More »

By Maria Martinez BERLIN (Reuters) – German retail sales fell in September, as persistently high inflation took its toll on consumption in the euro zone’s largest economy. German retail sales fell unexpectedly by 0.8% in September compared with the previous month, data showed on Tuesday. Analysts polled by Reuters had predicted a 0.5% increase. Year-on-year, …

German retail sales fall unexpectedly in September Read More »

By Harry Robertson LONDON (Reuters) – Many of the world’s biggest bond funds are facing their third straight year of losses for the first time in roughly 40 years, as a relentless U.S. economy sends bond yields to their highest levels in more than a decade. Yet far from being put off, investors are loading …

Bond fund managers head for third year of losses for first time in decades Read More »

A look at the day ahead in European and global markets from Tom Westbrook Japan’s yield cap has evolved into a reference rate, with the Bank of Japan redefining its 1% limit on 10-year government bond yields as an “upper bound” rather than a rigid target. It will keep buying bonds, but time will tell …

Marketmind: Yield curve control morphs Read More »

(Reuters) – The Bank of Japan further loosened its grip on long-term interest rates by tweaking its bond yield control policy on Tuesday, taking another step towards ending its massive stimulus programme. At the conclusion of its two-day policy meeting, the BOJ maintained its -0.1% target for short-term interest rates and that for the 10-year …

BOJ modifies bond yield control, re-defines long-term rate cap Read More »