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Hong Kong applauds its financial prowess amid protests

HONG KONG (Reuters) – Hong Kong’s chief executive Carrie Lam and top finance officials praised the Chinese-ruled city’s resilience as a global financial hub on Monday amid more than six months of often violent pro-democracy unrest. Protests escalated in June o... More »

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UK regional airline Flybe in financing talks to survive: Sky News

LONDON (Reuters) – Flybe, a regional British airline, is in talks to secure new financing to help it survive reported Sky News. When asked about the report, Flybe said it didn’t comment on rumor or speculation, while the UK government’s Department for Transpor... More »

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The Yankees are coming! U.S. firms rush to euro debt markets

LONDON (Reuters) – From Harley Davidson to Colgate-Palmolive, U.S. companies are flocking to borrow in euros and their record issuance is breathing life into a market where yields have been hammered by the European Central Bank’s renewed stimulus push. Offshor... More »

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D.E. Shaw’s Orienteer strategy posts double-digit returns this year

BOSTON (Reuters) – D.E. Shaw’s Orienteer platform, the backbone of the $50 billion investment firm’s multi-asset class offerings, posted high double-digit returns this year, the best ever in its six year lifetime. The Orienteer platform’s HV variant gained 41.... More »

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Fund investors pull back from U.S. stocks as year-end nears

NEW YORK (Reuters) – U.S. fund investors started closing the books on 2019 by withdrawing more than $10.9 billion from mutual funds and exchange-traded funds that hold domestic stocks last week, the largest pullback since early October, according to Investment... More »

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Clashes rock Beirut as security forces fire tear gas at protest

BEIRUT (Reuters) – Tear gas engulfed central Beirut as security forces chased protesters near Lebanon’s parliament on Sunday in a second night of street clashes that wounded dozens of people. Protesters had returned despite a fierce crackdown by security force... More »

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Take Five: What’s the deal?

LONDON (Reuters) – 1/AFTER PHASE ONE COMES PHASE TWO U.S. President Donald Trump and Chinese officials have agreed to a “phase one” trade deal that includes cutting U.S. tariffs on Chinese goods. Washington has agreed to suspend tariffs on $160 billion in Chin... More »

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ECB keeps policy unchanged with door still open to more stimulus

FRANKFURT (Reuters) – The European Central Bank left policy unchanged at new ECB President Christine Lagarde’s first meeting on Thursday, keeping money taps wide open and further stimulus ready as the euro zone economy continues to suffer from broader global t... More »

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Surging exports lend a fillip to flagging German economy

BERLIN (Reuters) – Germany’s exports rose unexpectedly in October, a morale boost for Europe’s largest economy, which has been teetering on the brink of recession over recent quarters. The 1.2% rise in exports raises hopes that the economy can avoid contractin... More »

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Stocks rally on Chinese data boost, cautious trade optimism

LONDON (Reuters) – Stock markets rebounded on Monday as decent manufacturing data in China and renewed optimism over a trade deal eroded some of the jitters which emerged among investors last week. The recovery in Europe followed gains in Asia, where share pri... More »

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Burst of social unrest tests emerging market risk models

LONDON (Reuters) – A wave of social unrest across developing countries this year has caught many investors off-guard and is challenging models designed to gauge political risk for investors, prompting some to pull money out. That has led to worries that a with... More »

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U.S. stock funds see fourth straight week of outflows: Lipper

NEW YORK (Reuters) – U.S. equity stock funds saw $390 million in outflows in the week ended on Wednesday, the fourth straight week of outflows for such funds, according to data released by Lipper on Friday. U.S. taxable bond funds attracted $5.9 billion, the 1... More »

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Euro zone inflation rises quicker than expected in November

BRUSSELS/FRANKFURT (Reuters) – Euro zone inflation accelerated faster than expected in November on a rise in food and services prices, likely comforting European Central Bank policymakers even if some factors pushing up prices may be only temporary. The ECB ha... More »

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U.S. stock funds lose $3.6 billion in week: Lipper

(Reuters) – U.S. equity funds saw $3.6 billion in outflows in the week ended on Wednesday, according to data released on Thursday by Lipper. U.S. taxable bond funds attracted $12.4 billion, the 15th straight inflow, while U.S. money market funds shed $25.3 bil... More »

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Furor erupts in Italy over euro zone bailout fund reform

ROME (Reuters) – Proposals to reform the euro zone’s bailout fund are creating a political storm in Italy, where parties and institutions are battling over whether Rome should try to block the reform at the EU level. A draft of the reform was agreed by euro zo... More »

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Sustainable investors face squeeze as larger firms move in

COLORADO SPRINGS, Colo. (Reuters) – Specialized fund managers who pioneered green investing for decades are missing out on some of the spoils as the sector goes mainstream and large firms move in. So-called sustainable funds, which pick stocks based on environ... More »

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Your Money: How to up your bond game with ETFs

NEW YORK (Reuters) – Most people’s basic knowledge of investing is that their portfolio should be a mix of stocks and bonds. That is usually enough to get by in the stock market – pick up a popular S&P 500 index exchange-traded fund or two and you will probabl... More »

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Shares grind towards record high as China trims key rate

LONDON (Reuters) – World shares were close to a record high on Monday, after Beijing surprised markets by trimming a key interest rate for the first time since 2015. In the latest show of support for its economy, China’s central bank cut rates on seven-day rev... More »

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Choking and crying, Hong Kong protesters pinned back on campus

HONG KONG (Reuters) – Hong Kong police laid siege to a university on Monday, firing rubber bullets and tear gas to pin back anti-government protesters armed with petrol bombs and other homemade weapons from fleeing amid fears of a bloody crackdown. Dozens, cho... More »

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Russian central bank sees some room for further rate cut

MOSCOW (Reuters) – Russia’s central bank sees some room to further cut its key rate, First Deputy Governor Ksenia Yudayeva said on Monday. “…in principle, we currently see certain room for a further reduction, but we have to follow the situation very closely, ... More »

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World shares fall as Hong Kong violence unnerves investors

LONDON (Reuters) – Shares across the globe fell on Monday, buffeted by escalating violence in Hong Kong that pushed Asian stocks to their worst day since August and stoked demand for the safe-haven yen and gold. In the 24th straight week of pro-democracy unres... More »

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Beyond windmills, Epoch’s Van Valen looks for grid improvements

NEW YORK (Reuters) – At a time when U.S. utilities face pressure to rely more on renewable energy, a well-known investor in the space said it is equally important to judge companies by their spending on less glamorous areas like power lines and grid reliabilit... More »

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Small oil-and-gas companies get cold shoulder from large banks

NEW YORK (Reuters) – The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, indust... More »

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Lagarde will take ECB out of ivory tower: De Guindos in El Pais

FRANKFURT (Reuters) – Christine Lagarde will ensure European Central Bank policymakers climb down from their “ivory tower” and face the political realities of the euro zone, the ECB’s vice president, Luis de Guindos, said in an interview published on Saturday.... More »

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‘Never give up!’ Draghi tells Lagarde as he leaves ECB

FRANKFURT (Reuters) – European Central Bank President Mario Draghi told his successor on Thursday to “never give up” on propping up the euro zone economy in the face of a worsening outlook and little help from governments. At the last press conference of his e... More »

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U.S. stock funds post near $4 billion outflow: Lipper

(Reuters) – U.S. equity funds shed $3.98 billion in the week ended Wednesday, according to data released by Lipper on Thursday. U.S.-based taxable bond funds attracted $6.3 billion, the eleventh straight weekly inflow, while U.S. money market funds attracted $... More »

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U.S. stock funds see first weekly inflow in a month

(Reuters) – U.S. equity funds attracted $4 billion in the week ended Wednesday, the first inflow in four weeks, according to data release by Lipper. U.S. based taxable bond funds drew $6.3 billion, the tenth straight weekly inflow, while U.S.-based money marke... More »

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Irish PM’s popularity surges as Brexit takes centre stage: poll

DUBLIN (Reuters) – Irish Prime Minister Leo Varadkar’s approval rating has jumped sharply as voters back his government’s approach on Brexit ahead of a parliamentary election he wants to hold in May, a poll showed on Tuesday. However, the surge in Varadkar’s p... More »

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Spain trims GDP growth target for 2019 and 2020

MADRID (Reuters) – Spain’s acting government trimmed its growth forecasts on Tuesday as part of draft budgetary plans submitted to the European Commission and raised a deficit estimate, at a time when political gridlock prevents Madrid from having much margin ... More »

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Brexit extension, election still most likely, says UBS

LONDON (Reuters) – UBS Wealth Management said on Friday it still expects the UK government to ask for an extension to the deadline for exiting the European Union and to hold a general election, though it acknowledged that chances of a Brexit deal have increase... More »

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Yields rise on heavy supply at auction and trade hopes

NEW YORK (Reuters) – U.S. Treasury yields rose on Wednesday, a day that saw a flood of supply and on optimism for progress in U.S.-China trade negotiations that begin in Washington on Thursday. On Wednesday, the market absorbed a $24 billion reopening of 10-ye... More »

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Take Five: Vanity Fair

LONDON (Reuters) – 1/TRADE TENSION HEADACHES Washington’s latest accusation that China is dumping wooden cabinets and vanities on U.S. shores sums up the mood between the two warring sides as they head into another round of high-level discussions. The talks in... More »

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Norway to spend less wealth fund cash amid strong growth: government

OSLO (Reuters) – Norway plans to spend less money next year from its $1.1 trillion sovereign wealth fund, the world’s largest, as economic growth remains strong and unemployment declines, the center-right majority government said on Monday. “The Norwegian econ... More »

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U.S. stock funds post second straight weekly outflow

(Reuters) – U.S. equity funds saw $7.9 billion in outflows in the last week, the second consecutive weekly drawdown, as bond and money market funds drew money, according to data released by Lipper on Thursday. U.S.-based taxable bond funds attracted $641 milli... More »

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Investors retreat from U.S. stock funds amid impeachment inquiry

NEW YORK (Reuters) – Investors pulled nearly $14 billion out of mutual fund and exchange-traded funds that hold U.S. stocks last week, ending what had been the largest surge into domestic stock funds since December 2016, according to data released Wednesday by... More »

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Brexit: Deutsche Bank still sees 50% chance of no-deal by year-end

LONDON (Reuters) – Deutsche Bank said on Wednesday it still sees a 50% chance that Britain will leave the European Union without a deal by the end of the year following a general election, but said there’s a 20% chance of a “surprise” agreement later this mont... More »

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UK will leave the EU on October 31: finance minister Javid says

MANCHESTER, England (Reuters) – The United Kingdom will leave the European Union on Oct. 31, hopefully with a deal, finance minister Sajid Javid said on Monday. “Hopefully we leave with a deal,” Javid told ITV. “If we cannot strike a deal, I think it is import... More »

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Precious metals net second biggest weekly inflows on record: BAML

LONDON (Reuters) – Precious metals enjoyed their second biggest inflows in the week to Wednesday, Bank of America Merrill Lynch said on Friday, as festering trade tensions and global growth woes triggered a rush for safe haven assets. A total of $2.8 billion w... More »

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Governments must ensure ECB is not overburdened, Merkel says

FRANKFURT (Reuters) – Euro zone governments must reform their economies and use appropriate fiscal policies to ensure that the European Central Bank is not overburdened, German Chancellor Angela Merkel said on Thursday. Speaking at an event in Frankfurt, home ... More »

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Stocks sink on dismal euro zone data, dollar gains

NEW YORK (Reuters) – The dollar edged higher while global shares slid on Monday as euro zone equities clocked their worst day in a month after dismal business activity readings in Europe deepened fears of a looming recession there. Bond yields across the euro ... More »

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Key dates in the history of tour company Thomas Cook

(Reuters) – The bosses of Thomas Cook (TCG.L), the world’s oldest travel company, were meeting lenders and creditors in London on Sunday to seek a last-ditch deal to save the company. Thomas Cook needs to find another 200 million pounds ($250 million) on top o... More »

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France, Germany blast Facebook’s Libra, back public cryptocurrency

HELSINKI (Reuters) – France and Germany said on Friday that Facebook Inc’s (FB.O) Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency. The criticism... More »

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Draghi ties Lagarde’s hands with promise of indefinite stimulus

FRANKFURT (Reuters) – European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump... More »

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ECB’s tiered rate is cold comfort for euro zone banks

FRANKFURT (Reuters) – The European Central Bank is giving euro zone banks a small reprieve from a penalty charge on their idle cash but this is likely to prove too little, too late for a sector hurt by years of low interest rates. In its latest bid to shield t... More »

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Highlights: Draghi comments at ECB press conference

FRANKFURT (Reuters) – The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. Follo... More »

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ECB cuts key rate, to restart bond purchases

FRANKFURT (Reuters) – The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. The E... More »

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ECB gives banks relief from penalty rate with tiered system

FRANKFURT (Reuters) – Euro zone banks will be exempted from paying the European Central Bank a penalty charge on idle cash worth six times their mandatory reserves, the ECB said on Thursday. “This decision aims to support the bank-based transmission of monetar... More »

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ECB Draghi: Euro area economy in period of ‘protracted weakness’

FRANKFURT (Reuters) – European Central Bank President Mario Draghi said on Thursday that the euro zone economy was in a period of “protracted” economic weakness, with inflation staying low and the balance of risks tilted toward the downside. “Incoming informat... More »

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Merkel: Economic situation means German tax revenues could fall

BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the current economic situation in Germany meant tax revenues could come in lower than expected. Europe’s largest economy contracted by 0.1% quarter-on-quarter in the April-June period and some ... More »

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Catastrophes set to drive 2020 reinsurance rates higher

LONDON (Reuters) – Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to competition and fe... More »

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BAML: Buy risky assets as sentiment gets extremely bearish

LONDON (Reuters) – Bank of America Merrill Lynch said on Friday its market sentiment indicator has fallen to a level so bearish it has triggered a “contrarian” buy signal for assets considered more risky, such as equities, for the first time since January. The... More »

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U.S. charges reverse mortgage lender Live Well’s ex-CEO in $140…

NEW YORK (Reuters) – The U.S. government on Thursday charged the founder of reverse mortgage provider Live Well Financial Inc with engineering a $140 million fraud by inflating the value of its bonds, in what he called a “self-generating money machine.” Michae... More »

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Australia central bank open to unconventional policy if rates cut…

SYDNEY (Reuters) – Australia’s central bank would consider unconventional monetary options if the cash rate was cut to 0.5%, Deputy Governor Guy Debelle said on Tuesday, though he hoped such heavy policy adjustments would not be needed. Debelle said the Reserv... More »

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French manufacturers rein in 2019 investment plans: INSEE

PARIS (Reuters) – French manufacturing companies have lowered their investment plans from only a few months ago, according to a quarterly survey from the INSEE statistics agency on Tuesday. Manufacturers plan on increasing investments in 2019 by 6%, down from ... More »

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Three U.S. bond kings wield same strategy, get same result: lag…

NEW YORK (Reuters) – Three names dominate the U.S. world of bond investing – Jeffrey Gundlach, Dan Ivascyn and Scott Minerd. But funds run by these star investors are lagging their respective benchmarks this year. The proximate cause for the underperformance o... More »

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Iran has opportunity to come back into nuclear deal: UK’s Johnson

BIARRITZ, France (Reuters) – Iran has an opportunity to come back into compliance with the nuclear deal and resume dialogue about its nuclear activities, British Prime Minister Boris Johnson said on Monday. U.S. President Donald Trump said earlier he would mee... More »

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Powell’s speech support U.S. rate-cut bets

NEW YORK (Reuters) – U.S. interest rates futures rose on Friday as Federal Reserve Chair Jerome Powell said the central bank will do what it can to preserve the longest U.S. economic expansion on record, supporting bets on a further decline in key borrowing co... More »

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Rising trade tensions revive bets on deep U.S. rate cut

NEW YORK (Reuters) – U.S. interest rates futures rallied on Friday as rising trade tensions between China and the United States revived bets the Federal Reserve may lower key borrowing costs by a bold half-point next month. Earlier Friday, Beijing said it will... More »

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U.S. rates futures gain on China’s tariff, Fed’s Bullard

NEW YORK (Reuters) – U.S. interest rates futures rose on Friday, erasing their earlier losses after China announced retaliatory tariffs on about $75 billion of U.S. imports, rekindling bets the trade war between the world’s biggest economies would not end soon... More »

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As bond e-trading takes off, debt sales business may be ripe for…

LONDON (Reuters) – With banks’ bond trading desks increasingly going electronic, another of the last bastions of old-school banking – the business of helping companies and countries raise capital – may be about to succumb to the tide of technology. A clutch of... More »

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U.S. money fund assets hit highest since October 2009: iMoneyNet

NEW YORK (Reuters) – U.S. money market funds amassed their highest level of assets since October 2009 as investors shift cash into low-risk products amid worries about a global economic slowdown and trade tensions, a private report released on Wednesday showed... More »

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Germany’s Scholz sees no sign Italy will trigger euro crisis

BERLIN (Reuters) – There is no sign of a looming euro zone crisis due to political upheaval in Italy, German Finance Minister Olaf Scholz said on Wednesday. Asked if he feared a new euro zone crisis, Scholz told German television: “No, there is no sign of that... More »

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Stimulus hopes support stocks, ease pressure on bonds

LONDON (Reuters) – Global equity markets rose on Monday on signs that major economies would look to prop up stalling growth with fresh stimulus measures, easing pressure on bonds and dampening demand for perceived safe-havens such as gold. Hopes of government ... More »

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Recall UK parliament to tackle Brexit crisis, opposition Labour…

LONDON (Reuters) – Britain’s parliament needs to be recalled immediately to discuss Brexit, the opposition Labour Party’s finance spokesman John McDonnell said on Monday, after leaked official documents forecast possible food, fuel, and medicine shortages. Bri... More »

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Euro zone bond yields off lows, German fiscal plans in focus

LONDON (Reuters) – Bond yields in the euro zone were off record low levels on Monday, as a calmer tone settled in world markets and focus turned to the prospect of fiscal stimulus in Germany. Germany has the fiscal strength to counter any future economic crisi... More »

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Yields rise on German fiscal stimulus hopes

NEW YORK (Reuters) – Benchmark U.S. Treasury yields rose on Friday on a report that Germany may be open to running a deficit to boost growth, while stronger stock markets also reduced demand for safe haven debt. Government bond yields plunged this week on conc... More »

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U.S. yields tumble on trade worries, political tension

NEW YORK (Reuters) – U.S. Treasury yields fell on Monday, in line with the weak stock market, as trade worries and global political tensions in places such as Hong Kong and Argentina supported safe-haven assets. U.S. 30-year bond yields slid to their lowest si... More »

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Argentina opposition on way to defeating Macri in primary after…

BUENOS AIRES (Reuters) – Argentine voters soundly rejected President Mauricio Macri’s austere economic policies in primary elections on Sunday, casting serious doubt on his chances of re-election in October, early official results showed. A coalition backing o... More »

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Argentina opposition scores big primary win, hurting Macri’s…

BUENOS AIRES (Reuters) – Argentine voters soundly rejected President Mauricio Macri’s austere economic policies in primary elections on Sunday, raising serious questions about his chances of re-election in October, early official results showed. A coalition ba... More »