Economy
U.S. Treasury urges G20 to rethink ties with China, escalate pressure on Iran
Finance chief Scott Bessent calls for G20 review of China’s $1.2 trillion trade surplus and $73.9 billion U.S. deficit, as Washington steps up tariffs and prepares talks with Beijing. New Iran sanctions to target banks weekly.
Qatar’s economy contracts 7% in first quarter amid energy decline
The contraction marks the first decline in over a decade as energy sector output falls.
Brazil runoff poll shows Lula, Bolsonaro in technical tie
Latest survey puts President Lula at 46% and Bolsonaro at 45% ahead of October election, within margin of error for second-round runoff.
Central bankers at Jackson Hole weigh AI risks to monetary policy
AI-driven market manipulation and opaque policy responses were key themes as global policymakers grappled with the financial dominance of autonomous agents.
Polymarket prepares for misconduct scrutiny ahead of US midterms
The intelligence chief highlights potential integrity risks for prediction markets as the US midterm elections approach.
China's manufacturing PMI edges up but services slump signals uneven recovery
Official factory activity improved slightly in August, yet a persistent decline in services underscores weak domestic demand and a patchy rebound in the world's second-largest economy.
Eurozone growth accelerates, reinforcing ECB rate hike case
Barclays upgrades euro area GDP outlook as sentiment improves, while inflation pressures persist ahead of September ECB meeting.
TSX futures rise ahead of Bank of Canada rate decision
Canadian benchmark index futures climb 0.2% as traders await Wednesday’s policy announcement amid steady inflation and geopolitical oil-price risks.
BOJ's Ueda skips Jackson Hole; Tamura to attend Fed gathering
Japan's central bank governor will miss the annual Fed symposium as focus shifts to the U.S. Treasury Secretary's remarks and next week's G20 finance talks in North Carolina.
Australia's July inflation exceeds forecasts, raises rate hike odds
Consumer prices rose 3.5% year-on-year in July, outpacing projections and keeping pressure on the Reserve Bank of Australia to tighten policy. Markets now price a 27% chance of a hike in September.
Australia's July inflation exceeds forecasts, fuels RBA rate hike bets
Consumer prices rose 1.0% month-on-month, outpacing expectations and keeping annual inflation at 3.5%. Traders boost September rate hike odds to 38% amid rising core pressures.
German bond yields hit multi-year highs after hawkish Fed signals
Eurozone sovereign debt selloff accelerates after U.S. Treasury yields surge on remarks by Federal Reserve Governor Kevin Warsh. ECB rate decision looms.
German yields surge to multi-year peaks after Fed's Warsh signals hawkish stance
Germany's 10-year Bund yield climbs to 12-year high as money markets price near-60% chance of a September U.S. rate hike. ECB decision looms amid rising inflation pressures.
Fed’s Warsh signals hawkish tilt on inflation but leaves rate path unclear
Investors welcomed clearer inflation guidance from Federal Reserve Chair Kevin Warsh, yet uncertainty persists over the timing and scale of potential rate hikes. Treasury yields and dollar gains reflect shifting expectations.
Canada's Q2 current account surplus surges to record C$8.84 billion
Surplus of C$8.84 billion far exceeds economist forecasts of C$3.9 billion, driven by energy exports amid elevated oil prices. Foreign bond holdings hit a record C$80.8 billion.
Japan’s corporate services inflation accelerates to 3.6% in July
Corporate services price index rose above forecasts, signaling persistent inflation pressures as firms pass on costs. Bank of Japan rate hike bets intensify.
Tokenized deposits may raise U.S. credit costs, Dallas Fed economists warn
Research from Dallas Fed economists suggests programmable deposit tokens could destabilize bank funding, increasing borrowing costs for households and businesses. Banks are already building shared networks to support the technology.
Barclays expects two more Fed rate hikes this year
Barclays projects two additional Federal Reserve rate increases in 2024 following a speech by Fed Governor Christopher J. Warsh.
U.S. Treasury's Bessent dismisses bond market turmoil concerns
Secretary Bessent says longer-dated debt buybacks aim to curb volatility, not distort markets, as 30-year borrowing costs hit 19-year highs.
Japan's corporate services inflation hits 3.6% in July, fastest since 2023
Service-sector producer prices rose 3.6% year-over-year, up from 3.4% in June, as firms pass on rising costs amid a tight labor market and weak yen. Bank of Japan seen hiking rates in September.
U.S. judge rebukes postal service over mail-voting rule but declines to block it
Federal judge in Boston finds USPS violated court order with new mail-in voting requirements, but defers immediate suspension as agency says it cannot implement the changes while her injunction stands.
Brazil unemployment rate falls to 5.3% as wage mass hits record
Jobless rate drops to lowest level since 2012, but robust wage growth keeps central bank policy cautious ahead of September rate decision.
BOJ seen accelerating tightening with 1.25% rate hike in September: poll
A Reuters survey of economists shows 57% expect the Bank of Japan to raise its key rate next month to 1.25%, up from 1% in June, as yen pressure and inflation concerns mount.
IMF chief says global economy holding up to energy shock, flags fiscal risks
Kristalina Georgieva warns of a 'tug of war' between energy supply disruptions and AI-driven growth, as fiscal pressures mount ahead of G20 talks.
UK inflation expectations rise to 3.9% in August, survey shows
Public expectations for price growth over the next year and longer term increased after months of decline, complicating the Bank of England’s inflation outlook.