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Silver prices are struggling to hold the crucial 30-dollar mark as investors await insights from the upcoming Fed minutes, which may influence monetary policy. Meanwhile, President-elect Trump’s tariff announcements against Canada, Mexico, and China add to market uncertainty, potentially impacting global economic stability. Key US economic data, including the PCE core deflator and durable goods orders, will also be closely monitored for further market direction.
UBS Group AG is set to acquire full ownership of its securities joint venture in China, UBS Securities Co. Limited, as its partner, Beijing State-owned Asset Management, sells a 33% stake for 1.5 billion yuan. This move is part of UBS's strategy to enhance its presence in China and follows its recent acquisition of Credit Suisse. Additionally, UBS is pursuing broader banking licenses in the U.S. and exploring a wealth management joint venture in India to capitalize on growth opportunities in key markets.
US Treasury bonds declined as President-elect Donald Trump threatened new tariffs on trade partners, undermining gains from Scott Bessent's appointment to lead the department. Yields rose by one to four basis points across various maturities following Trump's announcement of a 10% tariff on Chinese goods and a 25% tariff on products from Mexico and Canada. The market had previously surged on hopes that Bessent could influence Trump's trade policies.
UBS Group AG is set to acquire full ownership of its securities venture in China, UBS Securities Co. Limited, as its partner, Beijing State-owned Asset Management, sells a 33% stake for 1.5 billion yuan. This move is part of UBS's strategy to enhance its presence in China and follows its recent acquisition of Credit Suisse. Additionally, UBS is pursuing a wider banking license in the U.S. and exploring a wealth management joint venture in India to capitalize on growth opportunities in key markets.
Allianz Global Investors anticipates a reversal in the dollar's rally early next year, predicting that China will retaliate against Donald Trump's trade tariff threats. Greg Hirt, the firm's chief investment officer, warns that markets may not be ready for such tariffs, which could negatively impact the US economy and hinder further dollar strength.
Donald Trump has announced that upon his return to the White House, he will impose a 25% tariff on goods from Canada and Mexico, along with an additional 10% tariff on Chinese imports. This move is set to influence financial markets as he seeks to assert America's economic power.
Crédit Agricole has been upgraded to category 2 on the Financial Stability Board's list of systemically important banks, requiring it to hold more capital to withstand financial shocks. The list, which includes 29 banks, saw Bank of America drop to category 2, while UBS was moved up to category 2 following its acquisition of Credit Suisse. The highest capital requirements are for JP Morgan Chase, classified in category 4.
The potential for significant currency market volatility looms as President-elect Trump threatens to impose tariffs on Mexico, Canada, and China, with strategists warning that these moves may serve more as negotiation tactics than actual policy. Analysts predict that such tariffs could lead to a stronger U.S. dollar and increased pressure on foreign currencies, particularly the Mexican peso, which could see dramatic shifts in response to tariff announcements. The market anticipates a prolonged negotiation process, with the possibility of retaliatory measures complicating the landscape further.
Huawei launched the Mate 70 series on November 26, 2024, featuring its new operating system, HarmonyOS NEXT, marking a significant step towards technological independence amid U.S. sanctions. The series includes the Mate 70, Mate 70 Pro, and Mate 70 Pro+, with prices starting at 5,499 yuan. The company aims to position HarmonyOS NEXT as a viable alternative to Android and iOS in China, leveraging its brand and developer ecosystem to attract users.
U.S. stocks rallied to record highs following President-elect Donald Trump’s Treasury secretary pick, Scott Bessent, who is viewed favorably by Wall Street. The S&P 500 rose 0.3%, with small-cap stocks outperforming, while bond yields fell. Trump announced plans for increased tariffs on imports from China, Mexico, and Canada, which could impact trade relations.
Chinese Yuan
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18:26 26.11.2024
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NatWest Group plc
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18:19 26.11.2024
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17:47 26.11.2024
17:01 26.11.2024
17:00 26.11.2024
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15:24 26.11.2024
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14:47 26.11.2024
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ING
Citizens, Inc.
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Truth Social
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Luca Paolini
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Luis Costa
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Kamakshya Trivedi
Claudia Sheinbaum
Chris Turner
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12:44 26.11.2024
10:31 26.11.2024
United States Dollar
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Barclays PLC
ISR
USA
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CAN
MEX
Scott Bessent
Quincy Krosby
Donald Trump
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08:30 26.11.2024
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