The dollar dipped against major currencies as investors bet that U.S. Treasury Secretary nominee Scott Bessent’s fiscal conservatism would ease bond market concerns and lower yields. Despite Bessent’s pro-dollar stance, the currency’s recent rally showed signs of fatigue.
Posts in category Economic Times
Oil holds at 2-week high as Russia, Iran tensions support prices (25-11-2024)
Oil prices reached a two-week high following a 6% surge last week. Geopolitical tensions, including Russia’s missile attack on Ukraine and Iran’s nuclear activities, fueled concerns about potential supply disruptions. The possibility of renewed sanctions against Iran and increased oil demand from China and India also contributed to the price increase.
GIFT Nifty up 460 points; here’s the trading setup for today’s session (25-11-2024)
Looking ahead, markets will first react to the outcomes of the Maharashtra and Jharkhand elections. Additionally, macroeconomic indicators, including GDP and infrastructure output, will garner significant attention. Participants remain focused on FII fund flows, given their ongoing selling spree.
Stocks in news: ZEE, HDFC Bank, HCL Tech, Zomato, RVNL (25-11-2024)
HDFC Bank is in the final stages of assigning a Rs 12,372 crore car loan portfolio, its second such transaction in two months as the bank seeks to bring down its credit-deposit ratio (CD ratio).
Asian shares, bond futures bounce on Bessent pick for US Treasury (25-11-2024)
Benchmark 10-year Treasury futures were up 13 ticks, ahead of the cash open and S&P 500 futures rose 0.4% to just shy of a record high while the dollar was weaker across the board, lifting the battered euro by 0.5% to $1.0484.
Cuts in bearish foreign F&O bets set stage for 4-5% gains (25-11-2024)
Foreign portfolio investors (FPIs) reduced their net bearish bets in index futures to 1.54 lakh contracts on Friday from 2.01 lakh the previous day. This resulted in foreigners’ long-to-short ratio – a measure of the number of their bullish positions versus bearish – in index futures rising from 23% at the start of the month to 31% as of November 22, according Ajit Mishra, senior vice president, Research at Religare Broking.
G-Sec yields harden as inflation stays high, rupee slides (25-11-2024)
September saw record lows after the US Federal Reserve delivered a hefty 50 basis point rate cut, causing a softening of US Treasury yields, along with milder domestic bond yields and a stronger rupee. During September US T-bill yields saw a low of 3.64%.
Nifty bullish on charts, could aim at 24,500 : Analysts (25-11-2024)
Stocks such as L&T Technology Services, Bharti Airtel, HCL Tech, Infosys, Tech Mahindra, Ipca Labs, Divis Labs, DLF, and National Aluminium show bullish chart patterns, indicating potential upside moves, according to analysts.
Junk bonds at risk as EMs brace for ‘Trumponomics’ (25-11-2024)
A Bloomberg index of high-yielding sovereign dollar debt is heading for a 15% surge this year, the biggest annual gain since 2016. Global investors are rewarding countries such as Argentina, Sri Lanka and Ghana for healing their defaults and embarking on economic reforms. This rally has shown resilience even to the US yield spikes of the past two months.