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Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, has offered a rare opening for Japan by indicating that a meeting of leaders would be possible if Japan does not make the abduction issue a stumbling block. This marks a change in tone from her previous comments, where she accused Japan of being a "sinister" nation. While Japan is taking note of these comments, it still considers the abduction issue unresolved. However, experts believe that a summit is unlikely due to the differences on the abduction issue and North Korea's nuclear weapons program. [Extracted from the article]

A study by the Institute for Public Policy Research suggests that the UK government should transfer responsibility for housing asylum-seekers to regional bodies to address the rising costs of accommodation. The practice of housing migrants in hotels has more than doubled the annual cost of housing each asylum-seeker to £41,000 over the past five years. Labour's new home secretary, Yvette Cooper, aims to stop using hotels for asylum-seekers due to concerns about costs and anti-immigrant sentiment. The report highlights the need for decentralization to better serve asylum-seekers and improve living conditions. [Extracted from the article]

Bank of England Governor Andrew Bailey stated that UK inflation is decreasing faster than expected, indicating a potential continuation of interest rate cuts next month. Bailey highlighted uncertainties regarding structural changes in the economy that may be influencing the pace of disinflation. While some policymakers are in favor of a gradual approach to easing policy, Bailey suggested a more aggressive stance on rate cuts if positive inflation trends persist. Additionally, Bailey emphasized the need to address the lack of investment in the UK economy by its pension industry, as well as the impact of low growth rates on monetary and fiscal policies. [Extracted from the article]

The article discusses how Tim Echols, a conservative Georgia public service commissioner and evangelical minister, is advocating for electric vehicles (EVs) among fellow Republicans. It highlights concerns that a potential second Trump administration could impact the EV industry by targeting consumer incentives and industrial incentives. Despite potential challenges, the article emphasizes the growing popularity and benefits of EVs, with auto executives and policymakers viewing the transition to EVs as inevitable and beneficial in the long run. [Extracted from the article]

The German economy ministry is considering a plan to boost domestic investment by providing companies with a 10% bonus directly. Economy Minister Robert Habeck's proposal includes subsidizing investments, excluding building projects, with the bonus offsetting tax liabilities or paid out in cash. The plan aims to stimulate economic growth in Germany, which is expected to contract for the second consecutive year in 2024, with differing opinions within the ruling coalition on how to achieve this. The proposed Germany Fund would focus on modernizing infrastructure, supporting education, and digitalization, with estimated public investment needs exceeding €200 billion by the end of the decade. [Extracted from the article]

The estranged brother of former Singaporean Prime Minister Lee Hsien Loong, Lee Hsien Yang, has been granted political asylum in the UK due to a "well-founded fear" of persecution. This decision follows a public feud over the fate of their father's home, with Lee Hsien Yang now living in self-imposed exile in Europe since 2022. The UK approved his asylum request in August, allowing him to remain in the country for five years, as he seeks permission to demolish the house and build a private residence to honor his parents' wishes. [Extracted from the article]

The chair of the Financial Stability Board, Klaas Knot, has cautioned against neglecting financial regulation in favor of other policy areas, warning of potential economic collapse. Knot highlighted the importance of implementing agreed-upon measures to safeguard the financial system, citing concerns about existing vulnerabilities that could lead to another crisis. He emphasized the need for ongoing evolution of financial policies to address emerging risks, such as those posed by the non-bank financial sector. [Extracted from the article]

The UK government's plan to protect employees from unfair dismissal from their first day in a new job may hinder diverse hiring practices, according to employment experts. The proposed policy, part of a bill debated in Parliament, could lead to unintended consequences such as reduced opportunities for underrepresented candidates. While the government aims to improve worker rights and foster economic growth, concerns have been raised about the potential impact on diversity and inclusion efforts in the workforce. [Extracted from the article]

Chancellor of the Exchequer Rachel Reeves is considering raising £15 billion annually from the wealthiest Britons through capital gains and inheritance tax reforms, according to two think tank reports. Reeves aims to balance the budget and fund public services, with plans for up to £40 billion in tax increases and spending cuts. While some warn of a potential exodus of millionaires, others argue that higher taxes on the rich would not deter entrepreneurship and could be beneficial for the economy. [Extracted from the article]

The article from Bloomberg.com discusses Chinese hedge fund Banxia's recommendation for retail investors to buy stocks due to low valuations and government support. Founder Li Bei highlighted the potential benefits of investing in stocks over bank deposits and wealth management products. While the market has experienced volatility, Li advised investors to focus on blue chip stocks, state-owned enterprises, and ETFs for potential returns. [Extracted from the article]

The UK's new Labour government is proposing stricter regulations for buy-now, pay-later lenders, aiming to bring them under the supervision of the Financial Conduct Authority and subject them to the Consumer Credit Act. Fintech players, including Klarna Bank AB, are welcoming the move, as it provides clarity for the industry to innovate while ensuring consumer protections. The consultation period for the proposed rules will close on Nov. 29, with expectations for final legislation to be laid in Parliament early next year and rules to take effect in 2026. Some advocates express concerns about the timing of implementation, particularly with the upcoming holiday season. [Extracted from the article]

China's plan to increase the loan quota for unfinished residential projects to 4 trillion yuan ($562 billion) did not meet market expectations, causing property shares to decline. Analysts described the measures as "incremental," and the announcement led to a drop in property stocks in Hong Kong and China. The government aims to stabilize the real estate sector, with plans to ensure completion of unsold homes and provide affordable housing support for families with two children or more. Despite efforts to boost the economy, investors are seeking more substantial policies to drive stock prices higher. [Extracted from the article]

China is set to increase its loan quota for "white-list" property projects to $562 billion in order to complete unfinished homes and stabilize the real estate sector. The government's measures, announced by Housing Minister Ni Hong, aim to prevent a decline in the market and ensure the delivery of sold but unbuilt homes. Additional initiatives include renovating older homes, providing affordable housing support, and easing rules for second-home purchases to meet economic growth targets. [Extracted from the article]

Major Japanese media outlets predict that Japan's ruling Liberal Democratic Party (LDP) may lose its outright majority in the lower house of parliament for the first time since 2009 in the upcoming election. The LDP is expected to win between 203 and 250 seats, potentially falling short of the 233 seats needed for a majority. Prime Minister Shigeru Ishiba aims to secure a majority with the help of coalition partner Komeito, as public support for the LDP has waned due to a scandal involving party members. If the LDP loses its majority, Ishiba may need to consider policy preferences from Komeito, which advocates for limits on the use of military force. [Extracted from the article]

The article discusses the possibility of UK Chancellor Rachel Reeves raising £15 billion annually from the wealthiest Britons through capital gains and inheritance tax reforms. While some warn of a potential exodus of millionaires, left-of-center think tanks argue that such tax increases would not deter entrepreneurship or drive wealth creators out of the country. The article also highlights differing perspectives on the impact of tax hikes on economic growth and innovation, with calls for more effective policies to support entrepreneurship. Former Bank of England Governor Mervyn King urges Reeves to reverse previous tax cuts and consider alternative revenue sources. [Extracted from the article]

The recent policy address in Hong Kong is set to benefit property developers, brokerages, and retailers as the government relaxes mortgage rules and expands plans to attract wealthy immigrants. Changes include setting the loan-to-value ratio for residential properties at 70% and allowing home purchases of at least HK$50 million as part of required investments for migrants. Winners from these policies include homebuyers, luxury property developers, restaurants and bars, exchanges and the banking sector, and airlines. However, mid- to low-end grocers, commercial real estate landlords, and luxury retailers may face challenges due to the lack of measures addressing their specific concerns. [Extracted from the article]

Hong Kong's Chief Executive, John Lee, is expected to prioritize bolstering the economy in his upcoming annual speech. The speech will likely include a potential cut to a liquor tax and measures to strengthen Hong Kong's status as a finance center. Lee aims to revive the economy after a pandemic slump and address headwinds such as an ailing real estate sector and sluggish consumption. He may also focus on attracting more investors, diversifying the economy, and making it easier for foreign workers to move to Hong Kong. [Extracted from the article]

Indian conglomerates are projected to increase their capital spending to $800 billion over the next 10 years, according to S&P Global Ratings. Around 40% of this spending will be allocated to new businesses in sectors such as green hydrogen, clean energy, semiconductors, electric vehicles, and aviation. Major Indian business houses like the Adani Group, Reliance Industries Ltd., and Tata Group are expected to invest approximately $350 billion in these sectors. This investment aligns with India's goal of transitioning to a greener economy and reducing its dependence on fossil fuels. However, there are risks involved, including execution challenges and reliance on borrowing. [Extracted from the article]

Indian conglomerates are projected to increase their capital spending to $800 billion over the next 10 years, according to S&P Global Ratings. Around 40% of this spending will be allocated to new businesses in sectors such as green hydrogen, clean energy, semiconductors, electric vehicles, and aviation. The investments align with India's goal of transitioning to a greener economy and reducing dependence on fossil fuels. However, there are risks involved, including execution challenges and heavy reliance on borrowing. The conglomerates, including Adani Group, Reliance Industries Ltd., and Tata Group, are expected to strengthen their market share and have an advantage over non-conglomerated rivals in capital-intensive sectors. [Extracted from the article]

Hong Kong's Chief Executive, John Lee, will deliver his annual policy address this week, with a focus on revitalizing the economy after the pandemic slump. Lee aims to strengthen the city's status as a finance center and may propose a cut to the liquor tax. The economy, heavily reliant on trade with China, has been impacted by China's slowdown and geopolitical uncertainties. Lee also plans to attract more investors by revamping the Innovation and Technology Venture Fund and diversifying the economy by boosting the medical and biotechnology sector. The property market remains a challenge, with declining prices and limited policy options. Lee may also address the need to attract foreign workers and improve talent attraction. [Extracted from the article]

Keir Starmer, the Prime Minister of the UK, is returning to campaign basics after a challenging first 100 days in office. His new chief of staff, Morgan McSweeney, is tasked with putting the administration on a permanent campaign footing and delivering on key issues such as the economy, the National Health Service, migration, and crime. The government plans to make a series of announcements to show voters that they are addressing these concerns. However, there are challenges ahead, including a difficult budget and declining poll ratings. The government aims to focus on turning the economy around and fixing the NHS, with key moments expected in the coming weeks. While there is optimism about the reset, there are also concerns about the departure of Starmer's former senior aide, Sue Gray, and the need for more experienced advisors. Overall, the government is determined to improve its performance and win the next election. [Extracted from the article]

A petition has been filed by an activist lawyer to the Constitutional Court in Thailand, accusing former Prime Minister Thaksin Shinawatra and the ruling Pheu Thai party of undermining the monarchy and political system. The lawyer called for Thaksin and the party to cease their attempts to overthrow the democratic regime with the king as the head of state. The petition raises concerns about political uncertainty and the potential dissolution of the Pheu Thai party. Thaksin, a polarizing figure in Thai politics, is seen as having significant influence over the government. [Extracted from the article]

A petition has been filed by an activist lawyer in Thailand's Constitutional Court, accusing former Prime Minister Thaksin Shinawatra and his party, Pheu Thai, of undermining the monarchy and political system. The lawyer called for Thaksin and the party to cease their attempts to overthrow the democratic regime with the king as the head of state. The petition raises concerns about political uncertainty and the potential dissolution of Pheu Thai. Thaksin, a polarizing figure in Thai politics, is seen as having significant influence over the government. The allegations include claims of manipulating the party and colluding with a former Cambodian prime minister. Pheu Thai lawmakers deny the allegations. [Extracted from the article]

Gurpatwant Singh Pannun, an American Sikh separatist targeted in a foiled assassination plot allegedly planned by India, claims that Indian intelligence agents still want him dead and that the Biden administration's "quiet diplomacy" has failed to deter Prime Minister Narendra Modi's government. Pannun's group, Sikhs for Justice, advocates for a Sikh nation called Khalistan to be carved out of India's Punjab state. The Indian government has labeled him a terrorist and declared his group an "unlawful organization." The case has strained US-India ties and raised questions about the nature of the relationship between the two countries. [Extracted from the article]

According to a monthly survey by the Bank of France, French business uncertainty increased in September due to concerns over domestic politics and geopolitical risks. This has dampened the outlook for the economy, despite strong third-quarter growth driven by the Paris Olympics. The survey also highlighted the risk of France's political difficulties having a material impact on the economy, as separate private-sector business surveys have shown a decline in services and manufacturing activity. The new government, which took office in September, is facing challenges in presenting a budget for next year and has pledged savings through tax increases and spending cuts. [Extracted from the article]

South Korea will be included in FTSE Russell's major global bond index next year, following reforms in the country's financial market infrastructure. This move is expected to attract tens of billions of dollars in inflows. India will also be added to FTSE Russell's gauge of emerging market debt in 2025. The inclusion of these countries in the indexes reflects their progress in improving market access. The announcement comes at a time when Asian debt is becoming more appealing due to falling yields in the US and Europe. [Extracted from the article]

French business uncertainty increased in September due to concerns over domestic politics and geopolitical risks, which has dampened the outlook for the economy after the Paris Olympics drove strong third-quarter growth, according to a monthly survey by the Bank of France. The survey of 8,500 business leaders revealed doubts in manufacturing, services, and construction, with concerns over fiscal policy as the new government debates spending cuts and tax increases. The survey results highlight the risk of France's political difficulties having a material impact on the economy, as separate private-sector surveys have already shown a decline in services and manufacturing activity. The new government, appointed last month, is running behind schedule on presenting a budget for next year and has no majority in parliament. Prime Minister Michel Barnier has emphasized the need for tough measures to address France's growing debt burden, with around €60 billion ($65.9 billion) of savings planned for next year's budget, including tax increases on companies and the wealthy. While the central bank raised its underlying growth estimate slightly to 0.2%, it warned of uncertainty in the fourth quarter and the disappearance of the one-off boost from the Olympics. However, there is better news on inflation pressures, as the share of services and industrial companies raising prices is nearing pre-Covid levels. [Extracted from the article]

Indian bonds have been added to the FTSE Russell emerging-market bond index, which has boosted sentiment in the market. The Bharatiya Janata Party's unexpected win in the Haryana polls has also contributed to the positive mood. However, the auto sector is facing challenges, with slowing sales and high inventory levels. Additionally, there are concerns about foreign fund selling and high valuations, as well as expectations of declining quarterly earnings. Indian funds have been buying shares to offset foreign investors' sales. [Extracted from the article]

Gurpatwant Singh Pannun, an American Sikh separatist targeted in a foiled assassination plot allegedly planned by India, claims that the Indian government still wants him dead and that the Biden administration's "quiet diplomacy" has failed to deter Prime Minister Narendra Modi's government. Pannun's group, Sikhs for Justice, advocates for a Sikh nation called Khalistan to be carved out of India's Punjab state. The Indian government has labeled him a terrorist and declared his group an "unlawful organization." The case has strained US-India ties and raised questions about the nature of the relationship between the two countries. [Extracted from the article]

French business uncertainty increased in September due to concerns over domestic politics and geopolitical risks, which has dampened the outlook for the economy after the Paris Olympics drove strong third-quarter growth, according to a monthly survey by the Bank of France. The survey of 8,500 business leaders revealed doubts in manufacturing, services, and construction, with concerns over fiscal policy as the new government debates spending cuts and tax increases. The survey results highlight the risk of France's political difficulties having a material impact on the economy, as separate private-sector surveys have already shown a decline in services and manufacturing activity. The new government, which was appointed last month, has no majority in parliament and is behind schedule on presenting a budget for next year. Prime Minister Michel Barnier has emphasized the need for tough measures to address France's growing debt burden, with around €60 billion ($65.9 billion) of savings planned for next year's budget, including tax increases on companies and the wealthy. While the central bank raised its underlying growth estimate slightly, it warned of uncertainty in the fourth quarter and the disappearance of the one-off boost from the Olympics. However, there is better news on inflation pressures, as the share of companies raising prices is nearing pre-Covid levels. [Extracted from the article]

Chancellor of the Exchequer Rachel Reeves is reviewing plans to increase taxes on private equity and wealthy "non-dom" residents in the UK after internal Treasury analysis suggested that these moves could end up costing the government money instead of raising the projected £5 billion. This setback comes as Reeves prepares to deliver her first budget and aims to fill a £22 billion fiscal hole left by the previous government. The potential economic impact of these tax plan revisions is limited, as they only make up a small part of the government's overall financial plan. [Extracted from the article]

Labour's tax plans in the UK, which included raising taxes on private equity and wealthy non-dom residents, are being reviewed due to concerns that they may end up costing the government money instead of raising funds. Chancellor Rachel Reeves is re-evaluating these pledges ahead of her first budget, as the Treasury's analysis contradicts Labour's pre-election costings. The potential economic impact of these changes is limited, as they only make up a small part of the government's overall financial plan. Reeves is committed to delivering on Labour's promises but will prioritize practical implementation. [Extracted from the article]

The Bank of Korea is expected to make a policy shift by cutting its benchmark interest rate in response to signs of a cooling housing market and easing inflation. Economists predict a quarter-percentage-point cut to 3.25%, marking the first change in policy since the bank raised rates in 2021. While the economy has been expanding, household spending has remained stagnant, and the reliance on above-trend exports may pose a risk if overseas demand slows. The bank has been hesitant to cut rates due to concerns about household debt and financial stability, but recent measures to rein in housing prices may have helped to cool the market. However, caution is still advised due to elevated home prices and high household debt. The bank's decision may be accompanied by words of caution and a hawkish tone. The supply and demand dynamics in the real estate market may limit further rate cuts, as housing prices may continue to rise due to a shortage of homes. [Extracted from the article]

A federal judge has ruled that Alphabet Inc. must remove restrictions that prevent developers from creating rival marketplaces and billing systems to compete with Google Play Store. This decision is a blow to Google's dominance in the Android app market and is expected to impact its revenue. The ruling comes after Epic Games Inc. successfully argued that Google abused its power in the app market. The changes required by the ruling are estimated to result in a significant loss in gross profit for Google. Google plans to appeal the decision. [Extracted from the article]

Labour's tax plans in the UK, which included raising taxes on private equity and wealthy non-dom residents, are being reviewed due to concerns that they may end up costing the government money instead of raising funds. Chancellor Rachel Reeves is re-evaluating these pledges ahead of her first budget, as the Treasury's analysis contradicts Labour's pre-election costings. The potential economic impact of these changes is limited, as they only make up a small part of the government's overall financial plan. Some economists have suggested that Reeves should consider changing her fiscal rules to allow more borrowing for investment instead of relying on higher taxes. [Extracted from the article]

The Bank of Korea is expected to make a policy shift by cutting its benchmark interest rate in response to signs of a cooling housing market and easing inflation. Economists predict a quarter-percentage-point cut to 3.25%, marking the first change in policy since the bank raised rates in 2021. While the economy has been expanding, household spending has remained stagnant, and the reliance on above-trend exports may pose a risk if overseas demand slows. The bank has been hesitant to cut rates due to concerns about household debt and housing market overheating, but recent measures to rein in housing prices may be helping to cool the market. However, caution is still advised due to elevated home prices and high household debt. The bank's decision may be accompanied by words of caution and a hawkish tone. The supply and demand dynamics in the real estate market may limit further rate cuts, as credit risks have discouraged developers from starting new projects, leading to a shortage of homes. The bank may aim to keep borrowing costs on the restrictive side even if rates are cut. [Extracted from the article]

The article discusses the rise of anti-migrant sentiment in Ireland and its impact on hedge fund trader Peter McGarry. McGarry, a senior portfolio manager at Garda Capital Partners, has also invested in a business that houses asylum seekers on behalf of the government. This has made him a target for anti-migration activists, who accuse private firms like McGarry's of profiteering and neglecting the concerns of locals. The Irish government's reliance on for-profit accommodation providers has become contentious, with opposition parties calling for a shift towards not-for-profit providers. The article highlights the tensions and controversies surrounding the issue of migration in Ireland. [Extracted from the article]

French Prime Minister Michel Barnier is facing a no-confidence motion in parliament brought by the leftist opposition. However, it is unlikely to gather enough support to overthrow his fragile government. The motion argues that the government's composition and policies do not align with the results of the recent legislative elections. Despite this, Marine Le Pen's opposition National Rally has stated that it will not support the motion. Barnier's centrist coalition lacks sufficient seats in the National Assembly to resist a concerted opposition effort to bring down his government. He is set to present a 2025 budget proposal to the cabinet and parliament on October 10, which includes spending cuts and tax hikes to address a growing deficit and restore investor confidence in the country. [Extracted from the article]

India's northern state of Haryana is holding local elections, which will test Prime Minister Narendra Modi's support among farmers who are angry about the government's policies on crop prices. The Bharatiya Janata Party (BJP), which has governed the state for 10 years, is at risk of losing control of the state legislature. The BJP's main competition is the Indian National Congress, which has criticized the BJP for failing to create enough jobs in Haryana. Unemployment and farmers' distress are expected to be key factors for voters in this election. [Extracted from the article]

Daniel Chapo, the ruling-party candidate in Mozambique's upcoming presidential election, has expressed his support for talks to end the Islamic State-backed insurgency that has disrupted TotalEnergies SE's $20 billion liquefied natural gas export project in the country. This marks a policy shift for the government, which had previously dismissed the option of negotiations. Chapo, who is widely expected to win the election, plans to employ a two-pronged strategy to combat terrorism on the ground and engage in dialogue with the instigators of the violence. The conflict has resulted in thousands of deaths and displaced hundreds of thousands of people. [Extracted from the article]

BlackRock CEO Larry Fink believes that the market is overestimating the number of interest rate cuts that the Federal Reserve will make, as the US economy continues to grow. Money markets are currently pricing in a one-in-three chance of another half-point cut in November, but Fink finds it hard to see that happening. He expects the US economy to continue growing at a 2% to 3% pace. Fink also discusses the potential for infrastructure investment and the need for Western companies to reassess their ties to China. [Extracted from the article]

BlackRock CEO Larry Fink believes that the market is overestimating the number of interest-rate cuts that the Federal Reserve will make, considering the ongoing growth of the US economy. Fink expressed his views during an interview at the Berlin Global Dialogue 2024 conference, stating that the amount of easing implied by the forward curve is excessive. Money markets currently suggest a one-in-three chance of another half-point cut in November and anticipate a total of 190 basis points of easing by the end of next year. Fink argues that current government policies are more inflationary than deflationary and that the focus should be on both struggling and successful segments of the economy. [Extracted from the article]

BlackRock CEO Larry Fink believes that infrastructure is crucial for economic growth and that there is enough private sector capital to fund investment in this area. Fink emphasized the inadequacies of infrastructure in many countries and the need for decarbonization and digitization. BlackRock, the world's largest asset manager, has been aggressively expanding into infrastructure financing and recently made acquisitions in this sector. Fink also mentioned the importance of public and private investment in infrastructure and expressed skepticism about further significant declines in interest rates. He expects the US economy to continue growing at a 2%-3% pace. [Extracted from the article]

Claudia Sheinbaum has been sworn in as Mexico's first female president, succeeding Andres Manuel Lopez Obrador. In her inaugural address, Sheinbaum pledged to continue her predecessor's efforts to improve the lives of Mexico's poorest citizens while also safeguarding foreign investment. Sheinbaum, a former Mexico City mayor and member of Lopez Obrador's Morena party, received the most votes in Mexican presidential history and will govern with large majorities in Mexico's congress. Sheinbaum's speech emphasized continuity with the policies of the previous administration and included proposals to improve welfare programs, boost the health system, and provide cash transfers to women. She also promised to maintain positive working relations with the US and Canada and to carry out an energy transition to reduce greenhouse emissions. [Extracted from the article]

Claudia Sheinbaum has been sworn in as Mexico's first female president, succeeding Andres Manuel Lopez Obrador. In her inaugural address, Sheinbaum pledged to continue her predecessor's efforts to improve the lives of Mexico's poorest citizens and safeguard foreign investment. Sheinbaum, a former Mexico City mayor and member of Lopez Obrador's Morena party, received the most votes in Mexican presidential history. She will govern with large majorities in Mexico's congress and has outlined plans to improve welfare programs, boost the health system, and provide cash transfers to women. Sheinbaum also promised to maintain positive working relations with the US and Canada and carry out an energy transition to reduce greenhouse emissions. [Extracted from the article]

Government bonds have rallied and traders are anticipating faster interest-rate cuts in Europe due to signs of a weakening economy. French bonds were particularly affected, with the 10-year yield reaching its lowest level since March. The European Central Bank (ECB) has hinted at the possibility of cutting interest rates again this month, following other policymakers who have raised the idea of consecutive reductions. Traders are adjusting their expectations for a more aggressive global easing cycle, bidding up bonds in anticipation of further interest rate drops. The market is now positioning for back-to-back reductions in both the US and Europe. [Extracted from the article]

Government bonds have rallied and traders are anticipating faster interest-rate cuts in Europe due to signs of a weakening economy. French bonds were particularly affected, with the 10-year yield reaching its lowest level since March. The European Central Bank (ECB) has hinted at the possibility of cutting interest rates again this month, following other policymakers who have raised the idea of consecutive reductions. Data shows that euro-area inflation has fallen below the ECB's target, indicating a cooling economy. Banks such as JPMorgan Chase, Goldman Sachs, and Barclays now predict an ECB rate cut in October, compared to December previously. In the US, money markets suggest a one-in-three chance of another half-point cut by the Federal Reserve in November. However, BlackRock CEO Larry Fink believes the market is overpricing interest-rate cuts given the growth of the US economy. [Extracted from the article]

BlackRock CEO Larry Fink believes that the market is overestimating the number of interest rate cuts that the Federal Reserve will make, as the US economy continues to grow. Money markets suggest a one-in-three chance of another half-point cut in November and a total of 190 basis points of easing by the end of next year. However, Fink argues that current government policies are more inflationary than deflationary, making it unlikely for these cuts to materialize. Fink also discusses the potential for private sector capital to fund infrastructure investments and suggests that Western companies should reassess their ties to China in light of its support for the Russian economy. [Extracted from the article]

BlackRock CEO Larry Fink believes that the market is overestimating the number of interest rate cuts that the Federal Reserve will make, as the US economy continues to grow. Money markets currently imply a one-in-three chance of another half-point cut in November, and a total of about 190 basis points of easing by the end of next year. However, Fink argues that government policies are currently more inflationary than deflationary, making it unlikely that the Fed will deliver on these expectations. Fink also states that despite some challenges, the market is not facing any significant systemic risk and corporate earnings are expected to remain strong. [Extracted from the article]

BlackRock CEO Larry Fink believes that the market is overestimating the number of interest-rate cuts that the Federal Reserve will make, considering the ongoing growth of the US economy. Fink expressed his views during an interview at the Berlin Global Dialogue 2024 conference, stating that the amount of easing implied by the forward curve is excessive. Money markets currently suggest a one-in-three chance of another half-point cut in November and anticipate a total of 190 basis points of easing by the end of next year. Fink argues that current government policies are more inflationary than deflationary and that the focus should be on both struggling and successful segments of the economy. [Extracted from the article]