Author: News Room

Key News Asian equity markets were mixed on light volumes in advance of today’s US CPI print. Overnight was a Tale of Two Chinas: Onshore (Mainland/domestic investors) versus Offshore (Hong Kong-US ADRs/foreign investors), as both performance and volume diverged. Mainland China investors cheered yesterday’s economic release with small gains on high volumes while Hong Kong fell on light volumes. China’s credit expansion will be a driver of economic growth, while M2 provides a nice tailwind for stocks. Brazil’s President Lula will visit China next week following French President Macron’s visit last week. Australia and China have made some baby steps…

By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond yield at 0.5% above or below zero, in an effort to sustainably achieve 2% inflation. Here is how Japan’s YCC works and its potential pitfalls. WHY YCC? After years of huge bond buying failed to fire up inflation, the BOJ cut short-term rates below zero in…

By Bianca Flowers (Reuters) – Colorado farmers will be able to legally fix their own equipment next year, with manufacturers like Deere (NYSE:) & Co obliged to provide them with manuals for diagnostic software and other aids, under a measure passed by legislators in the first U.S. state to approve such a law. The Consumer Right to Repair Agriculture Equipment Act passed 46-14 in Colorado’s Senate late on Tuesday, after winning approval in the state House of Representatives in February. The bill garnered bipartisan support as farmers grew increasingly frustrated with costly repairs and inflated input prices denting their profits.…

DoubleVerify an attractive opportunity, risk/reward profile favorable for long-term investors – William Blair By Sam Boughedda William Blair analysts believeDoubleVerify Holdings Inc (NYSE:) has “massive TAMS ahead,” and the multiple growth drivers for the company “underscore an attractive opportunity” for the company in 2023 and beyond. The analysts, who have an Outperform rating on the stock, explained that the firm thinks DoubleVerify has “meaningfully grown its total addressable market (TAM) over the past 12 to 18 months” as the company has expanded its platform and unlocked new revenue opportunities in large connected TV providers and social networks. “In CTV, the…

U.S. stock indexes were struggling for direction midsession Wednesday, after giving back an early bounce, on March consumer price index data showing inflation though slowing is still elevated. How stock indexes are trading On Tuesday, the Dow Jones Industrial Average rose 98 points, or 0.29%, to 33,685, the S&P 500 closed less than a point lower at 4,108.94, and the Nasdaq Composite dropped 52 points, or 0.43%, to 12,032.What’s driving markets The… Read the full article here

The slowdown in the housing market hasn’t spared the super-rich. From the ritzy suburbs of Beverly Hills to the glitzy Manhattan skyline, luxury real-estate has felt the heat from the broader sector’s weakness. Particularly with mortgage interest rates double where they were last year and the flow of new listings slowing, ultra-luxury real-estate has taken a hit, Mauricio Umansky, a Los Angeles-based real-estate entrepreneur and TV reality-show personality, told MarketWatch.  “The… Read the full article here

Bed Bath & Beyond Inc. BBBY stock rose more than 3% in the extended session Tuesday after the retailer said in a filing it had sold as of Monday about 100.1 million shares for about $48.5 million of net proceeds under an agreement with sales agent B. Riley Securities first announced in March and tweaked Tuesday. Bed Bath & Beyond may offer and sell up to $300 million worth of shares under the program. The stock ended the regular trading day up nearly 6%. … Read the full article here

Some of the largest U.S. banks are planning to boost their reserves after contributing to an infusion of deposits in First Republic Bank last month, according to Bloomberg. It’s a sign the American banking system is still feeling some effects of the collapse of Silicon Valley Bank, even as the panic largely fades.  JPMorgan Chase (ticker: JPM), Wells Fargo (WFC), Citigroup (C), and Bank of America (BAC) are planning to set aside about $100 million each, Bloomberg reported on Wednesday, citing people familiar with the matter. Each of the banks declined to comment when contacted by Barron’s.   The four banks…

Nine national media organizations, including CNN, are suing for access to Capitol Hill surveillance tapes of January 6, 2021, that House Speaker Kevin McCarthy has provided to Fox News but so far to no other press outlets. The lawsuit, filed in the federal court in DC against the FBI and US Attorney’s Offices at the Justice Department, argues that other media outlets should be given access to 44,000 hours of tapes now since they’ve been given to Tucker Carlson’s producers at Fox. “Plaintiffs here are among the many news organizations that have been denied access to the Capitol Surveillance Videos…

The US and the UK on Wednesday announced a fresh package of sanctions against several “financial fixers” who have assisted Russian oligarchs, including Alisher Usmanov, the metals executive, in their attempts to hide their assets.The latest sanctions come as western allies are broadening the net of individuals and companies around the world — including outside of Russia — who are helping Moscow evade sanctions, prop up its economy and fund its war in Ukraine. The US Treasury department said Usmanov had “a wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling…