Stocks Rise, Bonds Slip on Shutdown, Trade Hopes: Markets Wrap

U.S. futures added to gains as President Donald Trump spoke at a rally without casting any immediate shadow over a deal in principle among legislators to fund the government. Japanese 10-year bond yields remained in negative territory even after the Bank of Japan on Tuesday cut purchases of some longer-dated bonds for the first time since July in a regular operation. The BOJ has sought to taper its purchases as it focuses on yield targets rather than quantitative easing.

View original post here: 
Stocks Rise, Bonds Slip on Shutdown, Trade Hopes: Markets Wrap

Exclusive: Russia expects to recover far less from 'bad bank' assets – sources

Russia will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank. The central bank has spent over $40 billion bailing out Otkritie, B&N and Promsvyazbank since 2017. It had hoped to recover between 40 and 60 percent of the value of their 2 trillion rubles ($30.45 billion) assets that were transferred to Trust Bank, the bad bank, in the rescue deal.

Originally posted here: 
Exclusive: Russia expects to recover far less from 'bad bank' assets – sources

General Motors’ Finance Arm Joins Blockchain Data Security Initiative

More here:
General Motors’ Finance Arm Joins Blockchain Data Security Initiative

Iron Ore Futures Tumble in Singapore as Vale-Driven Rally Frays

Benchmark futures in Singapore plunged as much as 7 percent to $82 a ton, albeit in thin overnight action, before trading 4.7 percent lower at $84 by 3:04 p.m. The fall comes after prices broke above $90 last week, capping a 20 percent-plus surge over the past fortnight. On the Dalian Commodity Exchange, iron ore futures fell 2.8 percent, after closing limit-up Monday to their highest since March 2017 as Chinese traders played catch-up following the Lunar New Year break. “If there are no more additional closures or planned closures in Brazil, then there may be some kind of price correction,� Richard Lu, analyst at CRU Group in Beijing, said by phone.

Read the original post: 
Iron Ore Futures Tumble in Singapore as Vale-Driven Rally Frays

Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

The company also announced an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. The deal “will help us anticipate and respond more quickly to trends and our customers’ preferences, as well as delivering better quality product,� Chief Executive Officer Sergio Bucher said in a statement Tuesday. Debenhams, laden with debt, has been caught up in the sweeping decline of the U.K.’s traditional downtown retailers.

View original post here: 
Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

Gloomy China September trade data raises fears recovery may be faltering

China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived. The disappointing trade figures pointed to weaker demand both at home and aboard, and deepened concerns over the latest depreciation in China's yuan currency , which hit a fresh six-year low against a firming U.S. dollar on Thursday. Asian stocks tumbled to three-week lows and U.S. stock futures and Treasury yields fell after the data, while copper prices in London slipped.

Original post:
Gloomy China September trade data raises fears recovery may be faltering

Global economy ‘grim’ and G20 must step up to fix it: China

The global economic situation is grim and major economies must lead the way in tackling problems including sluggish growth and weak trade, China's trade minister Gao Hucheng said on Saturday. Gao made the remarks at the start of a two-day meeting of trade ministers from G20 economies in Shanghai, as uncertainty hangs over the outlook for a slow-growing global economy now beset by post-Brexit reverberations. The global economic recovery remained “complicated and grim”, Gao said.

View original here:
Global economy ‘grim’ and G20 must step up to fix it: China

Hong Kong watchdog fines JP Morgan for control, dark pool failures

Hong Kong's securities watchdog has fined U.S. bank JP Morgan HK$30 million ($3.87 million) for systems and control failings in its institutional equities business in Hong Kong, in one of the largest fines ever levied by the watchdog. In a statement published on Tuesday, the Securities and Futures Commission (SFC) said an investigation had revealed that the bank had breached the watchdog's rules relating to short-selling, client facilitation and principal trading. In a statement, JP Morgan said: “We have fully co-operated with the SFC and are pleased to have resolved these legacy issues in relation to certain aspects of our systems and controls in the institutional equities business in Hong Kong.

View original here:
Hong Kong watchdog fines JP Morgan for control, dark pool failures

U.S. trade body declines Nvidia’s review petition against Samsung

(Reuters) – A U.S. trade body on Monday upheld its earlier decision that rejected Nvidia Corp's claims of patent violation by Samsung Electronics Co and Qualcomm Inc over use of Nvidia's graphics chip technology. The U.S. International Trade Commission (USITC) decided not to review an initial order by an administrative law judge on Oct. 9 as it found no violation of Nvidia's patents related to graphics-processing chips.

Here is the original post: 
U.S. trade body declines Nvidia’s review petition against Samsung