U.S. Treasuries are starting to balk at post-election fiscal prospects and the resulting spike in benchmark borrowing rates has knocked stock markets off...
U.S. Treasuries are starting to balk at post-election fiscal prospects and the resulting spike in benchmark borrowing rates has knocked stock markets off their perch and lifted the dollar to its best level since early August.
But investors are mostly focussed now on next month's election and the absence of any plan from either party to rein in budget deficits already well north of 6% of GDP. What's more, betting markets now lean toward the candidate - Donald Trump - most likely to aggravate that fiscal position and bookmaker bets on a Republican clean sweep of Congress are rising too.
A 10% global tariff and 20% levy on Chinese imports, combined with the stimulus of domestic tax cuts, could cause the dollar to rally sharply and the euro to drop 8% to 10%, Goldman's Michael Cahill told clients. Much of the macro world will be focussed on the International Monetary Fund's annual meeting in Washington, with the IMF's latest World Economic Outlook due for release later and multiple top central bank officials speaking around the event.
* International Monetary Funds releases World Economic Outlook at IMF-World Bank Annual Meetings in Washington; European Central Bank President Christine Lagarde, ECB chief economist Philip Lane and Bank of Portugal governor Mario Centeno all speak; Bank of England Governor Andrew Bailey, deputy governor Sarah Breedon and BoE policymaker Megan Greene all speakSouth Korea warns it can send arms to Ukraine after reports of North's troops in...
Global Markets Donald Trump Mike Dolan Stock Markets Treasury Yields Michael Cahill
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Bid: Bonds and gold begin countdown to US Election DayWhile gold hits record highs, a confluence of strong U.S. economic data, the so-called 'Trump trade' and a renewed focus on the fiscal outlook has pushed 10-...
Read more »
Morning Bid: China doubts as economy struggles, US bonds closedWith U.S. Treasury markets closed on Monday, Wall Street stocks are set to cruise on higher into the unfolding corporate earnings season - but may first have...
Read more »
Morning Bid: Middle East tensions drive oil pricesOil prices are headed for their largest weekly rise in over a year on Friday, spurred by escalating Middle East tensions that have cast a pall over global...
Read more »
Morning Bid: China stocks get a reality check; Europe shuddersGravity brought China's soaring stock market back to earth with a thud on Wednesday. Disappointment about the lack - so far - of follow-through on stimulus ...
Read more »
Morning Bid: Monster payrolls see 10-year Treasury yields top 4%With any thought of U.S. recession off the agenda after a monster September jobs report, doubts about the extent of further Federal Reserve easing have...
Read more »
Morning Bid: Roaring Chinese stocks set for best week in a decadeWill this week be Chinese President Xi Jinping's equivalent of Mario Draghi's famous 'whatever it takes' moment? Only time will tell if China's volley of...
Read more »