Author: News Room

SAO PAULO (Reuters) – Brazil’s government expects monetary policy next year not to be as restrictive as in 2023, an economy ministry official said on Monday, stressing that a new fiscal framework proposed by the administration would help bring interest rates down. Economic Policy Secretary Guilherme Mello noted that central bank chief Roberto Campos Neto had praised the proposed framework, despite him saying the new fiscal rules would not mechanically affect interest rates. “From the moment the monetary authority recognizes the quality of the fiscal framework, the prospect of monetary easing emerges,” Mello said in an interview with Globo News.…

By Peter Nurse  Investing.com – The U.S. dollar edged lower in early European trade Wednesday, as traders cautiously await the release of the latest U.S. inflation data which could influence future Federal Reserve monetary policy. At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 101.700. rose 0.2% to 1.0930 and traded 0.1% higher at 1.2431 in tight trading ranges. The main focus Wednesday will be the March U.S. CPI, as traders try to work out the U.S. central bank’s next move. The general perception is that the…

Falling FHLB debt issuance signals the easing of the US bank crisis – Blomberg By Sam Boughedda Bloomberg reported Monday that in the last week of March, the Federal Home Loan Bank system issued $37 billion in debt, a sharp fall from the $304B two weeks earlier. Citing a person familiar with the matter, the report states that the plunge from an all-time high earlier in the month is an early sign the banking crisis has started to diminish. The FHLBs were created to boost mortgage lending, with the system now known as the “lender of next-to-last resort.” While Federal…

BlackRock has upped its overweight of inflation-linked bonds, a move the giant asset manager said it made in March to “quickly take advantage” of the market pricing in a lower cost of living despite persistent price pressures. Last month bond yields dropped after the sudden failure of Silicon Valley Bank and Signature Bank, as investors bet the fallout would lead the Federal Reserve to pivot from interest rate hikes and battling inflation to rate cuts in an anticipated recession. “U.S…. Read the full article here

Stocks traded mixed Tuesday as Wall Street prepared for the release of inflation data at both the consumer and producer levels. These stocks made moves:  Used-car retailer CarMax (ticker: KMX) rose 10% after posting better-than-expected fiscal fourth-quarter earnings. Coinbase (COIN) rose 6.1%, MicroStrategy (MSTR) gained 6.3%, and Marathon Digital (MARA) was up 12% after Bitcoin, the world’s largest cryptocurrency, traded above $30,000 for the first time in 10 months. Moderna (MRNA) fell 3.1% after the company said an independent data board deemed it too soon “to declare early success” in one of the biotech’s flu vaccine trials because of a lack…

Shares of Berkshire Hathaway Inc. Cl B BRK.B inched 0.35% higher to $313.70 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX remaining mostly unchanged at 4,108.94 and the Dow Jones Industrial Average DJIA rising 0.29% to 33,684.79. This was the stock’s fourth consecutive day of gains. Berkshire Hathaway Inc. Cl B closed $40.30 short of its 52-week high ($354.00), which the company reached on April 12th. The stock demonstrated a mixed performance when compared… Read the full article here

The highly classified leaked Pentagon documents posted to social media offer a pessimistic US viewpoint about the state of the war in Ukraine, highlighting weaknesses in Ukraine’s weaponry and air defenses and predicting a stalemate in the war for months to come. The documents, which appear to date from February and March, detail many of Ukraine’s perceived military shortfalls as Kyiv prepares for a spring counteroffensive against Russia. Several of the classified documents warn that Ukraine’s medium-range air defenses to protect front-line troops will be “completely reduced by May 23,” suggesting Russia could soon have aerial superiority and Ukraine could…

Harita Nickel, Indonesia’s biggest initial public offering this year, jumped on its debut to be valued at more than $5.5bn, putting the south-east Asian country on course to overtake the US IPO market this year in terms of equity fundraising.Nickel and other energy companies have been a driving force in what is set to be a record year for Jakarta’s market. Shares in Harita Nickel rose more than 4 per cent to Rp1,305 ($0.09) on their debut in Indonesia on Wednesday, bringing the company’s market value to more than Rp82tn.The successful listing has helped cement Jakarta’s ranking as one of…

INVESTMENT STRATEGY OUTLOOK – MARCH 31, 2023 From this point forward, we are moving to a new format for our letters. At FMI, we have one investment team, one philosophy, and one research process, thus we have decided to transition to a single letter, where we will cover all our investment strategies collectively. We will discuss our performance by fund at the outset of each letter, touch on key domestic and international investment topics, and feature a few existing portfolio holdings at the end. As we have done historically, we will provide perspective on the market, the investment landscape, and…

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