Exchange-traded funds that buy emerging-market equities are undergoing a churn — and the biggest loser is the BlackRock Inc. fund that helped usher in passive investing to the asset class two decades ago. Investors have withdrawn $5.4 billion from the iShares MSCI Emerging Markets ETF since July — of which...
It’s the right time to buy global equities after a pullback that brought them to the brink of a correction, according to Citigroup Inc. strategists. The team led by Beata Manthey said they forecast a 15% advance in the MSCI All-Country World Local Index by mid-2024 given “more balanced macroeconomic...
A monthly US jobs report due Friday may be the last to show solid hiring before a sharp slowdown, according to Bloomberg Economics. The report will probably show employers added 173,000 workers to payrolls in September, though figures due a month from now could show hiring plummeted to 100,000 in...
Global bonds are doomed to keep falling unless a sustained slump in equities revives the appeal of fixed-income assets, according to Barclays Plc. “There is no magic level of yields that, when reached, will automatically draw in enough buyers to spark a sustained bond rally,” analysts led by Ajay Rajadhyaksha...
The dollar fell against all of its major peers before pivotal US payroll data due Friday, but strategists say the pullback may just be temporary. Bloomberg’s gauge of the US currency slipped for a second day after climbing to a 10-month high on Wednesday. The greenback turned lower as falling...
Norway’s oil and gas is helping to fuel the nascent recovery in US initial public offerings. Norges Bank Investment Management, the country’s $1.4 trillion wealth fund, was among three cornerstone investors touted by German sandal maker Birkenstock Holding Ltd. on Monday as it kicked off its $1.6 billion IPO roadshow. Together, these...
Citigroup Inc. raised its growth forecast for China to 5% this year, as promising data helps build consensus around the nation’s ability to achieve its official government target. Retail sales and industrial production may improve, the economists wrote Wednesday, adding that the nation’s export contraction could also narrow after official...
Global headwinds and expensive stock valuations necessitate a cautious approach toward Indian equities in the short term as the country prepares for next year’s national elections, according to Goldman Sachs Group Inc. “The sharp rally since end-March, expensive valuations and global macro risks (high oil, high US rates, strong dollar)...
Milan has become a mecca for the wealthy, but the downside of that shift is starting to show. While rich new residents bring tax revenue and create jobs in the city, they’re also contributing to higher costs of living, widening the city’s gap with the rest of Italy. Housing prices...
A sell-off in global bond markets gathered pace, driving yields to the highest level in more than a decade as traders brace for an extended period of tight monetary policy. The yield on 30-year U.S. Treasuries hit 5% for the first time since 2007 on Wednesday, while the German 10-year...