Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
Stocks in Asia rose in Wednesday afternoon trade following positive developments overnight on the U.S.-China trade front.Asia Marketsread more
Sen. Josh Hawley, a well-known tech critic, is introducing legislation that would remove the immunity big technology companies receive for user-posted content under Section...Technologyread more
In its new "Future Skills" report, LinkedIn has identified what it calls the 10 "rising skills" of the future and the jobs associated with them.Get Aheadread more
Democratic Rep. Maxine Waters on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.Technologyread more
Zuckerberg fell out of Glassdoor's top 20 CEO ranking for the first time, although his employee approval rate remains high.Technologyread more
Signs of companies moving out of Hong Kong have emerged, members of the business community told CNBC following massive protests in the city. But one analyst said Hong Kong's...China Politicsread more
Tensions between China and the U.S. are threatening to slow global trade further, threatening some Asian economies.Asia Economyread more
U.S. President Donald Trump officially kicked off his reelection campaign Tuesday at a Florida rally where he exhorted thousands of rollicking supporters to keep advancing his...Politicsread more
The fashion industry is currently swept up in a storm of nostalgia. Riding on this throwback wave, Italian heritage brand Fila and American sweatshirt producer Champion are...Apparelread more
Asset markets were jolted into life on Tuesday morning following dovish comments by an executive member of the European Central Bank (ECB).
Euro zone bond yields fell and the single currency lost over 1 percent against the dollar in the morning session, after Benoit Coeure, a member of the ECB's Executive Board, hinted that the central bank is ready to "front-load" its current quantitative easing (QE) program.
This would see the ECB buy up more assets and be more aggressive in the near term, which spurred investors into a bout of buying.
The euro plummeted to 1.1173 against the greenback at around 8:00 a.m. London time after starting the session at 1.1314. By midday London time it had trimmed some losses and was trading at 1.1207.
The 10-year benchmark German Bund yield, meanwhile, snapped back to 0.564 percent after closing Monday's session at 0.649 percent but also managed to pare some losses as the session progressed. Bond yields from peripheral countries – like Spain and Italy – were also sharply lower.
Even the U.S. market felt the move from across the Atlantic. Longer-dated Treasury yields have ticked higher in recent weeks, pulled along by events in Europe. They also moved in Europe's wake on Tuesday, with the 10-year Treasury yield falling back to 2.2020 percent, down from a figure of 2.2373 percent, and was trading at 2.1897 percent by midday London time.
"(We are aware) of seasonal patterns in fixed-income market activity with the traditional holiday period from mid-July to August characterized by notably lower market liquidity," Coeure said on Monday, according to a transcript released on Tuesday morning on the ECB's website.
"The euro system is taking this into account in the implementation of its expanded asset purchase program by moderately frontloading its purchase activity in May and June, which will allow us to maintain our monthly average of 60 billion euros, while having to buy less in the holiday period."
He added that, if needed, the frontloading could be complemented by "backloading" in September, when market liquidity is expected to improve again.
Separately, Coeure said that he was concerned at the pace of that the recent government bond market selloff, but indicated that it was normal.
"Benoit Coeure has added his weight to the argument for the Bund (and wider European bond) sell-off to end. The pace of QE will accelerate ahead of the summer lull," Kit Juckes, global head of foreign exchange strategy at Societe Generale, said in a research note.
Robert Kuenzel, euro area economist at Daiwa Capital Markets, said it demonstrated that the ECB was sensitive to market liquidity, with Coeure implying that the quieter summer months were the reason behind the move.
"It should not come as a great surprise: the ECB had already stepped up its buying in the past two weeks," he added.
Follow us on Twitter: