Latest news with #MSCI
Bloomberg
14 hours ago
- Business
- Bloomberg
Commercial Real Estate Distress Is Spreading: Credit Weekly
The pain in US commercial real estate credit continues to bubble to the surface after a surge in borrowing costs and the rise of work from home left lenders vulnerable to losses. Delinquencies continue to increase, though the rate has moderated, researcher Green Street said this past week. Distress is also climbing, rising 23% to more than $116 billion at the end of March from a year earlier, data compiled by MSCI Real Capital Analytics show. That's the highest in more than a decade.
Time of India
a day ago
- Business
- Time of India
Wall Street choppy, oil dips as US holds back from Mideast military action
Major Wall Street indexes closed lower on Friday while oil prices fell after U.S. President Donald Trump held back from immediate military action in the Israel-Iran conflict. All eyes remained trained on the Middle East one week after an initial Israeli assault drew Iranian retaliation. The U.S. imposed Iran-related sanctions a day after Trump said he might take two weeks to decide on further action. According to preliminary data, the S&P 500 lost 0.21%, while the Nasdaq Composite shed 0.49%. The Dow Jones Industrial Average, however, rose 38.47 points, or 0.09%, to 42,210.13. Stocks had been broadly positive at the open, and dipped in and out of negative territory during the session. Global benchmark Brent crude futures fell 2.3% to settle at $77.01 a barrel, but gained 3.6% in the week. Front-month U.S. crude - which did not settle on Thursday due to a U.S. holiday and expires on Friday - ended down 0.28% at $74.93, with a weekly gain of 2.7%. Live Events "Investors are a little bit nervous about buying stocks right in front of this situation and, more specifically, right in front of this weekend," said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. The new sanctions target entities, individuals and vessels providing Iran with defence machinery, and were seen as a sign of a diplomatic approach from the Trump administration. "However, while Israel and Iran carry on pounding away at each other, there can always be an unintended action that escalates the conflict and touches upon oil infrastructure," PVM analyst John Evans said. European foreign ministers urged Iran to engage with the U.S. over its nuclear programme after high-level talks in Geneva about a potential new nuclear deal ended with little sign of progress. Europe's main bourses had ended their session a touch higher, following similar gains across Asia. MSCI's gauge of stocks across the globe fell 0.01% on the day. Gains on Hong Kong's Hang Seng, and South Korea's Kospi linked to newly elected President Lee Jae Myung's stimulus, had boosted Asian shares during that session. FED SPLIT Federal Reserve policymakers made their first public comments since Chair Jerome Powell said on Wednesday that borrowing costs were likely to fall this year, but that he expects "meaningful" inflation ahead as Trump's tariffs raise prices for consumers. The close split between governors on how to manage the risks was in full view as Governor Christopher Waller said the central bank should consider cutting as soon as the next meeting, while the Richmond Fed's Tom Barkin said there was no urgency to cut. Powell had also cautioned on Wednesday against holding on too strongly to the forecasts. Treasury yields fell after Waller's comments, and as concerns about the Middle East conflict supported demand for safe haven bonds. The yield on benchmark 10-year notes fell 2 basis points to 4.375%, from 4.395% late on Wednesday. Demand rose for the U.S. dollar, pushing the greenback to a three-week high against the yen. The dollar rose 0.03% against a basket of currencies including the yen and the euro, with the euro up 0.3% at $1.1528. The index is poised to rise 0.6% this week. Prices for gold, another traditional refuge, fell 0.13% to $3,365.91 and were poised for a weekly loss.
Observer
2 days ago
- Business
- Observer
Oil dives, stocks rally after Trump Middle East pause
Stock markets ticked higher on Friday while oil headed for its biggest daily drop since April after President Donald Trump pushed back a decision on US military involvement in the Israel-Iran conflict. Rising risks from the Middle East have loomed large on the world's top indexes again this week. Europe's main bourses were all between 0.5 per cent-1.4 per cent higher after similar gains across Asia, although it was touch and go whether it would be enough to prevent a second straight weekly loss for MSCI's main world index. Israel bombed targets in Iran, and Iran fired missiles at Israel overnight as the week-old war continued but Friday's market moves, which also included a modest drop in the dollar, showed an element of relief. That was largely pinned on Thursday's statement from the White House that Trump will decide in the next two weeks - rather than right away - whether the US will get involved in the war. European foreign ministers were meeting their Iranian counterpart in Geneva on Friday, seeking a path back to diplomacy over its contested nuclear programme. The relief the US wasn't charging into the conflict sent oil prices down as low as $76.10 per barrel, although they are still up 4 per cent for the week and 20 per cent for the month. "Brent crude is down 2.5 per cent today in the clearest sign that fears over an imminent escalation in the Israel/Iran conflict have eased," MUFG strategist Derek Halpenny said. Gold, another traditional safe-haven play for traders, was also lower on the day and Nasdaq, S&P 500, and Dow futures had all moved into the green as Wall Street prepared to get going again having been closed on Thursday. Asian shares had gained 0.5 per cent overnight thanks to a 1.2 per cent jump in Hong Kong's Hang Seng and as newly elected President Lee Jae Myung's stimulus plans saw South Korea's Kospi top 3,000 points for the first time since early 2022. China's central bank held its benchmark lending rates steady as widely expected in Beijing, while data from Japan showed core inflation there hit a two-year high in May, keeping pressure on the Bank of Japan to resume interest rate hikes. The dollar was ending an otherwise positive week on a modest downer, with the euro up 0.3 per cent against the US currency at $1.1527 and the pound 0.2 per cent higher at $1.3494. The US bond market, which was also closed on Thursday, resumed trading with the key 10-year Treasury bond yield flat at 4.39 per cent, while German 10-year yields, which serve as Europe's borrowing benchmark rate, fell 2.5 basis points to 2.49 per cent. Gold prices eased 0.8 per cent to $3,345 an ounce, leaving them set for a weekly loss of 2.5 per cent. But the main commodity market focus remained oil. Brent crude futures were last down $2.45, or around 3 per cent, at $76.43 a barrel in London although they were still on track to end the week almost 3 per cent higher. PVM analyst John Evans said oil producers' "nightmare scenario" was that Iran or its proxies could block the Strait of Hormuz, something which has never happened and through which 20 million barrels are shipped each day. JP Morgan estimates that amounts to about 20 per cent of all global oil trade and 30 per cent of seaborne oil trade. "The market is currently assigning a probability below 20 per cent to this happening," JP Morgan's Francesco Arcangeli wrote in a note, estimating thought that a full closure of the Strait could see oil prices surge to $120-$130 a barrel. — Reuters
Forbes
2 days ago
- Business
- Forbes
China Market Update: Middle East Cool Off Heats Up Hong Kong, Week In Review
CLN Asian equities were mixed overnight following yesterday's Trump's Middle East escalation language, which sent risk assets down the elevator. President Trump appears to be giving the Iranian government time to negotiate. The US dollar was mixed versus Asian currencies, though the renminbi/CNY closed below at 7.17 as the PBOC kept the 1 and 5 Year Loan Prime Rate at 3% and 3.5% as expected. Summer is officially here for traders as S&P and FTSE indices rebalance today, with the latter experiencing elevated volumes across the region as Hong Kong, South Korea, and India outperformed. FTSE's decision to upgrade South Korea to developed markets creates a significant performance disparity from MSCI's emerging markets index. Long MSCI EM and short FTSE EM would be a fun trade to play South Korea's massive rebound. Alibaba +1.55% was Hong Kong's most heavily traded stock as the company saw its FTSE weight increase, as volumes doubled from yesterday. Alibaba announced 453 brands sold more than RMB 100mm worth of goods during the 618 (June 18th) E-Commerce event. There was a lot of chatter about the government replenishing local government consumer subsidy funds after strong demand, which led to depletion in several cities. Horizon Robotics (9960 HK) fell by 1.86% despite being added to the FTSE indices, though the intraday chart shows the power of passive as massive block trades occurred at the close. Competitor Unitree appears closer to an Hong Kong IPO after another funding round. Mainland-listed soy sauce maker Foshan Haitian Flavouring & Food Co. relisted on the Hong Kong Exchanges today after raising HK $10.1B ($1.3B). High flyer Pop Mart -3.62% was clipped. While Hong Kong had a strong day following yesterday's debacle, Mainland China was off with index heavyweights such as banks, insurance, liquor, and telecom outperforming, which kept indices from falling further. Shipping and port stocks rebounded in hopes that Middle Eastern tensions would cool off. Otherwise, relatively quiet! New Content Read our latest article: Navigating Global Crosswinds: Carbon Markets Respond to Tariff Tactics and Executive Orders Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
Time of India
2 days ago
- Business
- Time of India
Oil tumbles, stocks rebound after Trump Middle east pause
Stock markets ticked higher on Friday while oil skirted close to its biggest daily drop since April after President Donald Trump pushed back a decision on US military involvement in the Israel-Iran conflict. Rising risks from the Middle East have loomed large on the world's top indexes again this week. Europe's main bourses all rose between 0.5 per cent-1 per cent after similar gains across Asia, although it was touch and go whether it would be enough to prevent a second straight weekly loss for MSCI's main world index. Israel bombed targets in Iran, and Iran fired missiles at Israel overnight as the week-old war continued although Friday's markets moves, which also included a modest drop in the dollar, showed an element of relief. That was largely pinned on Thursday's statement from the White House that Trump will decide in the next two weeks - rather than right away - whether the US will get involved in the war. European foreign ministers were to meet their Iranian counterpart in Geneva on Friday, seeking a path back to diplomacy over its contested nuclear programme. The relief the US wasn't charging into the conflict sent oil prices down as low as $76.10 per barrel, although they were last at just over $77 and still up 4 per cent for the week and 20 per cent for the month. " Brent crude is down 2.5 per cent today in the clearest sign that fears over an imminent escalation in the Israel/Iran conflict have eased," MUFG strategist Derek Halpenny said. Gold, another traditional safe-haven play for traders, was also lower on the day although Nasdaq, S&P 500 , and Dow futures were all in the red after US markets had been closed on Thursday. Asian shares had gained 0.5 per cent overnight thanks to a 1.2 per cent jump in Hong Kong's Hang Seng and as newly elected President Lee Jae Myung's stimulus plans saw South Korea's Kospi top 3,000 points for the first time since early 2022. China's central bank held its benchmark lending rates steady as widely expected in Beijing, while data from Japan showed core inflation there hit a two-year high in May, keeping pressure on the Bank of Japan to resume interest rate hikes. That in turn lifted the yen and pushed down the export-heavy Nikkei in Tokyo. Oil retreats The dollar was ending an otherwise positive week lower on the day, with the euro up 0.3 per cent against the US currency at $1.1527 and the pound 0.2 per cent higher at $1.3494. The US bond market, which was also closed on Thursday, resumed trading with the key 10-year Treasury bond yield flat at 4.39 per cent, while German 10-year yields , which serve as Europe's borrowing benchmark rate, fell 2.5 basis points to 2.49 per cent. Gold prices eased 0.5 per cent to $3,354 an ounce, but were set for a weekly loss of 2.3 per cent. But the main commodity market focus remained oil. Brent crude futures were last down $1.60, or around 2.2 per cent, at $77.28 a barrel in London although they were still on track to end the week 4 per cent higher. PVM analyst John Evans said the big market risk of the Middle East troubles was "unintended action that escalates the conflict and touches upon oil infrastructure". "The world has more than adequate supply for 2025, but not if the nightmare scenario of 20 million (barrels per day) being blocked in the seas of Arabia, however briefly that might be," he said.
