The Federal Reserve Bank of Kansas City’s annual gathering in Jackson Hole, Wyoming gets underway with a dinner on Thursday evening. Here’s what to expect from the two-day conference featuring central bankers from around the world: Federal Reserve Chair Jerome Powell leads the speaker line-up with a keynote speech on...
An abstract interest-rate metric is dominating discussions across trading desks ahead of the Jackson Hole symposium, with investors wondering if Federal Reserve Chair Jerome Powell will weigh in, and bracing for further declines in US Treasuries if he does. Fidelity International, Jupiter Asset Management and hedge fund Blue Edge...
Technology stocks are in trouble, with the buzz around artificial intelligence set to be overshadowed by the effects of higher-for-longer interest rates, according to Bank of America Corp. strategists. We see second-half “trouble rather than an era of new AI rules,” strategists led by Michael Hartnett wrote in a note...
The prospect of global interest rates remaining higher for longer is tipping the case for many investors to switch into bonds from stocks. Fixed income offers a 180-basis-point yield premium over the dividend returns from stocks, according to data compiled by Bloomberg. That’s the widest in 15 years, and the...
R. Kelly’s royalties of more than $500,000 held by Universal Music Group NV must be turned over to his sexual-abuse victims, a US judge ruled. US District Judge Ann Donnelly, in Brooklyn, New York, signed an order Wednesday directing Universal Music Group to turn over the money to satisfy unpaid...
Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co. and UBS agreed to pay nearly $500 million to settle an antitrust class action by U.S. pension funds over the banks’ control of the market for stock loans used for hedging and short selling. According to a Wednesday court filing by the...
US equity futures rose as investors awaited earnings from Nvidia Corp., the chipmaker at the heart of the hype around artificial intelligence. Europe led a rally in global bonds as signs of a quickening downturn in the euro area prompted traders to trim interest-rate hike bets. Services activity shrank for...
Gold isn’t losing its allure, according to a dozen money managers who all told Bloomberg News they expect to maintain or raise their exposure to the precious metal in the coming 12 months. Bullion has stumbled in recent weeks in the face of multiple headwinds from surging real yields to...
Global investors have been shedding China’s blue-chip stocks during the longest stretch of outflows on record, showing even the nation’s industry leaders are falling out of favor as a rout deepens. Foreign investors sold 6.2 billion yuan ($851 million) of Kweichow Moutai Co. from Aug. 7 to Aug. 18, making...
A rapid tourism recovery in Japan, bolstered by the return of Chinese visitors, and the highest level of inflation in four decades are fueling a boom in hotel investment in the island nation. Foreign investors, including Goldman Sachs Group Inc., KKR & Co., Blackstone Inc., have spent a combined $2 billion...