These are the stocks posting the largest moves before the bell.Market Insiderread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The presidential campaign is "going to be very tough," the former chief White House strategist.Politicsread more
Gelson's, an upscale grocery store chain with 27 locations across Southern California, will sell 12-ounce packages of the Impossible Burger.Food & Beverageread more
"The market all of the sudden has broken out into a behavior that seems much more rational in September than it did in August," National Securities' Art Hogan says.Trading Nationread more
Huawei launched a new 5G flagship smartphone lineup Thursday without pre-installed Google-licensed apps as the Chinese tech giant faces fallout from a U.S. blacklist earlier...Technologyread more
The Candytopia and Toys R Us partnership will open in late October in Chicago and Atlanta. The exhibits will stay open through the 2019 holidays, before moving on to different...Retailread more
Initially introduced in March 2018, the "Worker Dividend Act" requires firms to distribute the value of its stock buybacks dollar-for-dollar.2020 Electionsread more
A spokesperson for Sen. Mark Warner, D-Va., said he helped organize the dinner in D.C. at the request of Facebook.Technologyread more
LONDON, Aug 16 (Reuters) - Long-dated British government bond yields bounced off record lows and short-dated yields jumped to a four-week high on Friday, as investors paused for breath after ditching stocks in favour of bonds earlier this week. Share prices rose globally as expectations grew of further stimulus by the Federal Reserve and European Central Bank, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007.
Thirty-year gilt yields hit a fresh record low
of 0.904% early on Friday but lifted above Thursday's close later in the day and stood more than five basis points up on the day at 1.01% at 1442 GMT. Lower bond yields reduce the cost of new government borrowing, but also act as a signal that financial markets expect slower growth and cuts in Bank of England interest rates.
Two-year yields rose 10 basis points on the day -
on course for their biggest increase since September 2017 - to hit their highest level since July 18 at 0.544%, while 10-year
yields rose 8 basis points to 0.49%, off a record
low of 0.407% struck on Thursday. As a result, Britain's two-year/10-year yield curve became further inverted to minus six basis points - though economists cautioned against reading this as a clear signal of an upcoming recession. "Whereas an inverted yield curve has been a good indicator of US recessions, the UK yield curve is less reliable," Capital Economics economist Andrew Wishart said. Britain's economic outlook remained heavily determined by Brexit, and whether Prime Minister Boris Johnson takes Britain out of the bloc on Oct. 31 without a deal. "If there isn't a no deal, the economy may well surprise to the upside, and require slightly higher interest rates an outcome that investors are underestimating in our view," Wishart said. Interest rate futures price in a 70% chance of a Bank of England rate cut before Governor Mark Carney steps down at the end of January, largely down to the risk of a no-deal Brexit and less from a near-100% chance earlier this week. Ten-year gilts underperformed their German equivalent on the lower likelihood of immediate BoE stimulus compared with the ECB, and the spread between the two bonds widened by three basis points to touch its highest level since July 1 at 115 basis points. ECB policymaker Olli Rehn told the Wall Street Journal on Thursday that he expected the central bank would need to undertake significant easing in September.
Sept long gilt future 135.34 (-0.90)Dec 2019 short sterling 99.28 (-0.02)10-year gilt yield 0.49% (+8 bps)
-------------------KEY MARKET DATA---------------------------
Long Gilt futures Gilt benchmark chainShort Stg futures Cash market quotesDeposit rates Sterling cross rates
UK debt speedguide
-------------------KEY MARKET REPORTS--------------------------
Gilts SterlingEuro Debt DollarU.S. Treasuries Debt reports--------------------GILT STRIPS DATA -------------------------Gilt strips data All gilt stripsGilt strips IO Gilt strips PO
(Reporting by David Milliken, Editing by Andy Bruce and Stephen Powell)