Top China Economist Asks State to Curb Sway in Funding Startups
Yao says government funds not well suited for venture capital Urgency growing in China to support confidence, private sector A prominent Chinese economist has urged state funds to retreat from venture capital and allow the private sector to play a bigger role in a...
China’s Slowing Economy Sparks Calls to Raise Deficit Ceiling
Beijing urged to subsidize consumers, help local governments PBOC has cut rates but borrowing sentiment hasn’t improved A growing chorus of Chinese economists called on Beijing to break away from an implicit budget deficit ceiling, opening the door to more central...
Chinese Stock Markets Head for Third Year of Record Delistings
Forty firms have already lost listed status so far in 2024 Forced delistings could harm investors: Shanghai Prospect China’s stock markets are set for a third straight year of record delistings driven by the jump in IPOs over the past decade and tighter rules...
Oil Slumps to January Lows in Algorithmic-Led Selloff
Shrinking US crude inventories fail to allay demand concerns Blinken left the Middle East Tuesday without a cease-fire deal Oil extended its decline to the lowest in more than six months as trend-following algorithmic sellers overlooked a bullish US stockpile report....
US Payrolls Marked Down by Most Since 2009 in Preliminary Data
Early revision showed 818,000 fewer jobs in year through March Pace of job growth still healthy but moderation began sooner US job growth was probably far less robust in the year through March than previously reported, keeping pressure on the Federal Reserve to cut...
Euro Surges to One-Year High as Traders Eye Interest-Rate Path
Momentum reinforced by view Fed will cut rates faster than ECB Pound also touched highest level in a year as dollar is weaker The euro rose to the highest level in one year against the dollar as currency traders bet US central bankers will reinforce the case for lower...
Opaque Australian Private Markets Pose Outsized Risk, ASIC Says
ASIC says more investors becoming exposed to private markets Australia regulator outlines strategic priorities in report Private markets in Australia are hiding potentially large risks to a growing number of investors amid their rapid expansion, making them a key...
Asset Managers Must Invest in Private Markets Now, Bain Says
Private-market assets under management to reach $65 trillion Bain calls it ‘the biggest opportunity in financial services’ A wide variety of asset managers need to look at investing in private markets if they want to avoid wipe-out, while revamping their entire...
Big E-Commerce Squeezing Mom-and-Pop Stores, India Minister Says
India’s trade minister Piyush Goyal on Wednesday said the growth of big e-commerce companies such as Amazon.com Inc. risks putting about 100 million small mom-and-pop stores in the country out of business. “I don’t see it as a matter of pride that half our market...
Traders Look to US Jobs Data to Support the Rally in Treasuries
BLS issues preliminary benchmark employment revision Wednesday Treasuries are up, dollar is down this month on rate-cut bets Investors who’ve positioned for more gains in US Treasuries will look to revised data on the US labor market for signs the Federal Reserve...
Dollar’s Losing Streak Sends Euro, Pound to Fresh 2024 Highs
Traders await clues from Fed Chair Powell at Jackson Hole Dollar has weakened as investors see lower US interest rates The dollar’s slump is fueling rallies in other major currencies, sending the euro and British pound to fresh 2024 highs as traders home in on the...
Fed Confronts Up to a Million US Jobs Vanishing in Revision
BLS issues preliminary benchmark employment revision Wednesday Economists still view job growth as healthy, albeit moderating US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal...
Trump Ally Bessent Says Stocks Will Fall on ‘Precarious’ Economy
Hedge fund manager told clients that volatility will continue His Key Square fund is betting on natural gas and Japan Scott Bessent, who runs macro hedge fund Key Square Capital Management, said he expects a jump in volatility and a decline in US markets because the...
Iron Ore to Extend Rout as It’s ‘Different This Time,’ Citi Says
Bank cuts three-month price forecast to $85 on China concerns ‘Further price weakness is required’ to rebalance the market Iron ore is poised to extend declines into the $80s-a-ton range as China’s steelmakers reduce production, according to Citigroup Inc., which...