Market Bizzz

Regional securities have fared better even though their emerging-market counterparts have had the benefit of monetary easing as central banks start cutting rates. There are multiple factors working in favor of Asian notes including a lower correlation to US yields, support from resilient currencies and disinflationary pressures exported by China.

The decision matched the forecast of 43 economists in a Reuters survey, which also projected the central bank to stay on hold until the end of this year, before delivering a rate cut in the first quarter of 2024.

Nvidia’s forecast added to investor optimism. Big Tech and AI-related stocks saw their stock market values increase by over $70 billion, on top of Nvidia’s increased value, as their shares climbed following the report.

In options pegged to the Secured Overnight Financing Rate, a popular trade over the past week has been hedging the risk that interest rates will stay elevated through next year.

We have one big weapon and that is credibility,” Barkin said in comments to the Danville Pittsylvania County Chamber of Commerce. “There is nothing magic about 2 except that when you set that as a target you probably want to achieve it

Reuters reported late on Monday that South Korea’s Star Group Industrial, which supplies magnets to VinFast and Korea’s Hyundai Motor, is investing $80 million in a new factory in Vietnam, with production starting in 2024.

Tesla sparked a price war earlier this year and last week slashed prices of three models in China. It also launched a cheaper version of the Model S sedan and Model X SUV on Aug. 14 as it looks to stoke demand and grab a larger share of the market.