By Yoruk Bahceli (Reuters) -Germany is leading the biggest rally in global bond markets since March’s banking rout as cooling inflation and a weakening economy suggest European Central Bank rate hikes are nearing an end. Borrowing costs, or bond yields, in the benchmark euro area issuer are down at least 20 basis points (bps) this …
Germany leads big bond rally as inflation finally heads down Read More »
BOGOTA (Reuters) – Colombia’s current account deficit shrank 36.3% in the first quarter compared with the same period last year, to $3.42 billion, the central bank said on Thursday, due to a reduced trade imbalance. The deficit was $5.37 billion between January and March 2022. The deficit is a broad measure of transactions between the …
Colombia current account deficit shrank 36.3% in first quarter Read More »
By Eliana Raszewski BUENOS AIRES (Reuters) -In a bid to safeguard its dwindling hard currency reserves, Argentina’s central bank issued a new regulation on Thursday to require provinces with foreign currency debt to obtain their own financing for 60% of capital repayments. Argentina has 23 local governments known as provinces. The new regulation aims to …
Argentina curbs provinces’ FX access to pay back foreign debt Read More »
By Herbert Lash and Shreyashi Sanyal (Reuters) – The Nasdaq and S&P 500 surged to nine-month closing highs on Thursday as signs of slowing wage pressure raised hopes the Federal Reserve will pause hiking interest rates and investors cheered a vote in Congress to suspend the U.S. debt ceiling. The number of Americans filing new …
Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer Read More »
By Marcela Ayres BRASILIA (Reuters) – Brazil’s economy rebounded more than expected in the first quarter, powered by a booming farm sector and paving the way for a rosier annual outlook despite a drag from high interest rates. Gross domestic product (GDP) expanded by 1.9% in the three months through March after a revised 0.1% …
Brazil lifts 2023 growth outlook thanks to booming farm sector Read More »
BRASILIA (Reuters) – Brazil posted a $11.4 billion trade surplus in May, marking a record for any given month since the data series began in 1989, official data showed on Thursday. The figure also came above the $9 billion surplus expected in a Reuters poll with economists, backed by a surge in the volume of …
Brazil posts record trade surplus in May on surging exports Read More »
LONDON (Reuters) – The downturn in euro zone manufacturing activity deepened in May as demand slumped despite factories cutting prices for the first time since September 2020, according to a survey which painted a gloomy outlook. Compiled by S&P Global, Thursday’s HCOB final manufacturing Purchasing Managers’ Index (PMI) fell to 44.8 from April’s 45.8, just …
Euro zone factory downturn deepens in May despite price cuts Read More »
BERLIN (Reuters) – Germany’s manufacturing sector contracted at the fastest rate in three years in May and output fell for the first time in four months, a survey showed on Thursday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell to 43.2 from 44.5 in …
German manufacturing shrinks at fastest in 3 years in May -PMI Read More »
MADRID (Reuters) – The European Central Bank (ECB) has gone through most of its monetary policy tightening to bring inflation back to its medium-term target of 2%, though the cycle is not quite over yet, ECB Vice-President Luis de Guindos said on Thursday. “A big part of the journey has been done but there is …
ECB nearing end of tightening cycle but final stretch remains, De Guindos says Read More »
By Brendan O’Boyle and Isabel Woodford MEXICO CITY (Reuters) -Mexico’s central bank on Wednesday signaled it would hold the country’s benchmark interest rate at its current all-time high for an extended period of time in order to bring inflation down to its target range. “To achieve orderly and sustained convergence of headline inflation to the …
Bank of Mexico eyes ‘prolonged’ interest rate hold, higher growth Read More »
