RATING AGENCY
Japan bond yields rise as US inflation fuels rate hike bets
Japanese government bond yields climbed for a third straight session, tracking a global debt selloff after stronger US inflation data and hawkish Fed commentary raised expectations of further rate hikes. Investors also assessed the Bank of Japan’s policy outlook ahead of key bond auctions.
Chinese yuan remains range-bound as US rate hike bets strengthen dollar
The Chinese yuan edged higher but remained range-bound as a weaker PBOC midpoint and expectations of further US rate hikes limited gains. Strong export data and a sizeable trade surplus, however, continue to support the currency's longer-term outlook.
US stocks: US market falls as hot inflation, hawkish Fed fuel rate-hike fears
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening. Rising Treasury yields and weakness in technology stocks, particularly Nvidia, weighed on the market, while investors also assessed hawkish Fed comments and Anthropic’s upcoming IPO.
Wells Fargo upgrades US AI infrastructure stocks to neutral after chip rout
Wells Fargo upgraded its outlook on US AI infrastructure stocks to neutral from negative, citing improved valuations after a steep semiconductor sell-off. However, it warned that slowing AI investment and rising depreciation costs could pressure earnings in 2028.
Global credit conditions to weaken next year: Moody's
Moody’s Ratings expects global credit conditions to weaken in 2027 as higher financing costs and elevated energy prices create pressure across sectors, even as major economies continue to grow. The agency said tariffs, regulation, export controls and strategic government investment will increasingly shape credit risks, trade and capital allocation. Higher refinancing costs are likely to weigh on highly leveraged borrowers and those facing near-term maturities, while banks and life insurers could benefit from higher rates.
Fed’s Christopher Waller opens door to 50-basis-point December rate hike after hot CPI
Federal Reserve Governor Christopher Waller has raised the possibility of a 50-basis-point December rate hike after US core inflation rose 0.3% in October. Persistent price pressures have intensified debate over tighter monetary policy and the Fed's inflation-fighting credibility.
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US FDA adds rare vision-loss warning to popular GLP-1 drugs
The US FDA will add a warning about a rare eye condition that can cause permanent vision loss to the labels of all GLP-1 drugs, including Ozempic, Wegovy, Mounjaro and Zepbound. The condition was found in around 6 per 100,000 patients taking the drugs for at least a year.
US stocks: Dow Jones falls 200 points as hot inflation revives rate-hike fears; Nvidia sinks
On Tuesday, Wall Street faced a downturn as inflation figures surpassed projections, raising worries about potential interest rate hikes. The declines were evident across the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite indices. While financial stocks showed minor gains, technology shares, especially Nvidia, experienced fluctuations due to uncertainty in leadership. Anthropic's looming IPO threatens to heat up competition in the AI field.
US flags visa fraud involving sham staffing firms and fake student records, warns applicants
The US State Department has exposed multiple visa fraud schemes involving sham staffing companies, forged employment documents and fake academic records across several international jurisdictions. The cases include fraudulent recruitment of foreign workers, fabricated student exchange applications and falsified criminal records submitted by immigrant visa applicants.
Citi downgrades US stocks to 'neutral' as AI sell-off, regulatory risks mount
Citigroup strategists have downgraded US equities to neutral due to ongoing market volatility and regulatory concerns. This decision follows a significant sell-off that erased $3 trillion from the market value of S&P 500 companies. The strategists expressed worries about the potential for key indices like Nasdaq to shift into net-short territory. They also adjusted global and European technology sector ratings to neutral while upgrading healthcare stocks.
Fed’s Barkin urges rate policy caution, Goolsbee warns of inflation concerns as AI risks loom
Richmond Fed President Tom Barkin emphasized the need for caution in managing inflation and its policy risks. He mentioned that inflation continues to pose the biggest challenge for the Federal Reserve's objectives. Chicago Fed President Austan Goolsbee highlighted the rapid AI investments potentially overheating the economy and exacerbating inflation. Policymakers are considering rate increases at the upcoming December meeting to address these inflation concerns.
Japanese households buy record 5-year government bonds as rate hike expectations peak
Japanese households have bought a record 8.19 trillion yen worth of retail government bonds this fiscal year, with five-year fixed-rate securities attracting the strongest demand. The shift suggests investors may believe bond yields are nearing their peak as the Bank of Japan moves towards further interest rate hikes.
Yuan holds firm against dollar as seasonal corporate selling offsets greenback strength
China's yuan remained stable against the US dollar as seasonal year-end dollar sales by exporters offset greenback strength following robust US jobs data. Beijing's efforts to manage currency appreciation, alongside foreign exchange reserve adjustments, supported stability. Meanwhile, inflation trends and subdued domestic demand continued influencing monetary policy and currency movements.
US stocks face volatile week as AI selloff, inflation data and tech earnings loom
US stocks face a volatile week as investors brace for October CPI inflation data and key tech earnings following a sharp AI-led selloff. Regulatory concerns post-US midterms, alongside Fed rate hike expectations, have pushed the Nasdaq into correction territory despite the S&P 500 maintaining gains for 2026.
Japan bond yields rise as safe-haven demand eases after tech rebound
Japanese government bond yields rebounded as recovering technology stocks reduced safe-haven demand following last week's sharp selloff. Strong US jobs data and expectations of further Bank of Japan tightening also influenced investor sentiment across the bond market.
Trump’s chief of staff, Stephen Miller, has been at the center of his immigration crackdown; here’s what we know about his close association with the president
Trump announced that Stephen Miller would replace Susie Wiles as chief of staff. Miller, known for his role in immigration policy, previously served as White House deputy chief of staff. Wiles resigned following disappointing midterm election results for the Republican Party. Trump emphasized that the staff change was not directly related to election outcomes but was simply a change he deemed necessary.
US stocks today: Nasdaq rebounds from tech rout but extends weekly losing streak to four weeks
US stocks rebound as chipmakers recover from Thursday's steep selloff, but the Nasdaq records its fourth consecutive weekly decline. Nvidia, AMD and Sandisk lead technology gains as investors reassess AI investment concerns. Strong October jobs data also revive December Fed rate hike bets, adding another challenge for Wall Street.
NY Fed's John Williams flags need to gather more information on inflation risks before rate decisions
Federal Reserve officials John Williams and Alberto Musalem have flagged persistent inflation risks, with rapid AI infrastructure investment potentially adding to price pressures. Williams backed the need for more economic data before determining monetary policy, while Musalem warned that policymakers must address current inflation rather than wait for future AI-driven productivity gains.
Federal Reserve rate hike bets strengthen as US jobs growth beats estimates
Stronger than expected US jobs growth has revived expectations of a December Federal Reserve rate hike, with employers adding 165,000 jobs in October against estimates of 65,000. The unemployment rate fell to 4.1%, while markets raised the probability of a quarter point hike to 85% and brought forward expectations of another increase.
US stocks today: Nasdaq rebounds as chip stocks recover from steep losses, rate fears persist
US stocks rebound as chipmakers recover from Thursday's steep AI-led selloff, lifting the Nasdaq 1.73%. Nvidia, AMD, Intel and Micron lead the recovery, while stronger-than-expected October jobs data revive concerns over a December Fed rate hike. Airbnb rallies after raising its full-year revenue growth forecast, while Atlassian shares decline.
US employers added a surprising 165,000 jobs in October; unemployment rate dipped to 4.1%
US employers added 165,000 jobs last month, surpassing economists' expectations and bringing the unemployment rate down to 4.1%. The Labor Department also revised previous months' job figures upwards, indicating stronger hiring trends.
Eurozone bond yields set for biggest weekly fall since September as investors seek safety
Eurozone government bond yields are heading for their steepest weekly decline since late September as investors seek safe-haven assets amid a global technology selloff. Easing expectations of further ECB rate hikes have added to the decline, while Germany's 10-year yield touched a multi-month low.
Rising oil prices cap India bond rally; traders cash in gains
Indian government bonds saw a rise as traders reacted to a US Treasury rally and falling crude prices. The benchmark 6.94% 2036 bond yield declined by nearly 2 basis points after intraday fluctuations. Oil prices rebounded after initially falling, causing traders to lock in profits. Attention will turn to upcoming inflation data, with expectations for an increase in October.
Eurozone bond yields edge lower as oil prices stabilise, ECB rate bets ease
Eurozone government bond yields edged lower as oil prices stabilised and investors assessed easing geopolitical risks following US midterm elections. However, rising inflation, potential ECB rate hikes and political uncertainty in France continued to shape market sentiment and influence European debt markets.
Gold retailers' revenue to rise up to 23% as volume decline moderates this fiscal: Crisil
India's organised gold jewellery retailers are expected to see a slower decline in sales volumes this fiscal, with revenue projected to grow 21-23 per cent despite elevated gold prices, while their credit profiles are likely to remain resilient on the back of healthy cash flows and controlled expansion, according to Crisil Ratings.
BOJ policymakers signal scope for faster interest rate hikes
Bank of Japan policymakers are signalling support for further interest rate hikes, with some open to accelerating monetary tightening if inflation rises faster than expected, minutes of the September meeting showed. The BOJ raised its benchmark rate to 1.25%, a 31-year high, as it seeks to keep inflation near its 2% target.
S&P affirms Reliance Industries' 'A-' credit rating, cites Jio listing, stronger earnings
S&P Global Ratings has affirmed Reliance Industries’ (RIL) ‘A-’ long-term issuer credit rating with a stable outlook, citing resilient earnings, strong cash generation and improved funding flexibility following the listing of Jio Platforms.
China Banks' applications for PBOC stock loan scheme exceed 200 billion yuan
China's central bank said applications for loans under its stock-purchase financing scheme have exceeded 200 billion yuan. The PBOC has also cut the relending rate to 1%, stepping up efforts to support share buybacks and stabilise equity markets.
Jubilant Pharmova plans to raise Rs 800 crore via maiden bond issue
Jubilant Pharmova has announced plans to secure ₹800 crore via its first bond issuance within the local market, featuring ₹400 crore as the base amount and an equal greenshoe option. The capital raised will be primarily allocated to the company’s capital expenditure and upcoming expansion efforts. Subscriptions are anticipated chiefly from mutual funds and asset managers, making this a significant moment in the company's bond market debut.
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