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The Fed could be about to disappoint the market, warns Well Fargo Securities

WT24 Desk Wall Street’s Fed frenzy might not turn out how investors expect. That’s at least according to Michael Schumacher, global head of rate strategy and managing director at Wells Fargo Securities, who said investors may find themselves disappointed by the Fed’s next move. Many on the Street expect the U.S. central bank to slash its benchmark interest rate at the next ...

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China’s bank profits to hold steady in 2019: report

WT24 Desk BEIJIN) – Profits of China’s banking sector are expected to maintain steady this year, with faster growth in asset scale and ample liquidity, according to an industry report, Xihna reports. The 2018 net profit of commercial banks reached 1.83 trillion yuan (around266.6 billion U.S. dollars), up 4.7 percent year on year, said the reportreleased by the China Banking ...

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Wall Street hits records as rate cut hopes lift investor spirits

WT24 Desk NEW YORK – All three of Wall Street’s main indices popped to fresh records on Friday, ending the week on an emphatic note as investors grew increasingly confident the Federal Reserve will cut interest rates at the end of the month, AFP reports. In congressional testimony this week, Federal Reserve Chairman JeromePowell told lawmakers “crosscurrents” increased risks to ...

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European stocks ride Fed rate cut hint higher

WT24 Desk LONDON – Wall Street pushed higher into record territory Friday after Federal Reserve chief Jerome Powell all but flicked the switch on a US interest rate cut at the end of the month, AFP reports. After big losses at the start of the week, trading floors have been muchmore upbeat since a two-day congressional testimony in which Powell ...

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Asian markets on course to end week on positive note

WT24 Desk HONG KONG – Asian equities mostly rose in early trade Friday but gains were slight as investors applied the brakes after recent advances, with debate now focusing on the depth of an expected US interest rate cut, AFP reports. Donald Trump also sparked some unease after having a dig at China byaccusing it of backsliding on a trade ...

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Asian equities rally, dollar extends losses on Fed rate cut bets

WT24 Desk HONG KONG – Asian markets rallied Thursday and the dollar suffered further across-the-board losses after the head of the Federal Reserve all but guaranteed an interest rate cut this month, AFP reports. In the first day of closely watched congressional testimony, Jerome Powellsaid the case for lower borrowing costs “had strengthened” owing to headwinds caused by global trade ...

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Asian markets rise as Fed boss takes centre stage

WT24 Desk HONG KONG – Asian markets mostly rose Wednesday after two days of losses with investors focusing on congressional testimony by Federal Reserve boss Jerome Powell, AFP reports. Fed officials have helped spur a rally in world equities in recent weeks by taking an increasingly dovish tone regards monetary policy, fuelling expectations they would cut borrowing costs sharply to ...

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Stocks Mixed as Tech Gains Offset Industrial Woes: Markets Wrap

Dollar at three-week high before Fed Chair’s House testimony Mexican peso slumps after minister quits; Treasuries slip WT24 Desk U.S. stocks fluctuated as markets braced for an onslaught of central bank news this week. The dollar strengthened to its highest level since mid-June and Treasuries slipped, Bloomberg reports. The S&P 500 Index was little changed Tuesday, with industrial and consumer-staple stocks ...

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Asian markets hit as US jobs data dent hopes for big rate cut

WT24 Desk HONG KONG – Asian markets retreated Monday and the dollar held gains after a blockbuster US jobs report dashed hopes that the Federal Reserve would slash interest rates this month, AFP reports. Labor Department data showed that despite recent disappointing indicators, the world’s top economy continues to show resilience as it created far more posts than expected in ...

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