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Japanese corporate borrowers are accelerating bond sales amid rising speculation that the Bank of Japan may increase interest rates next month. Major telecom firm KDDI Corp. led the charge with a ¥210 billion ($1.4 billion) bond sale, while Daiwa Securities and Panasonic were also among the eight issuers active in the market.
The EU plans to reduce embassy staff globally due to budget constraints, focusing on nations of primary interest. Amidst internal turmoil, leaders are struggling to formulate a unified response to the Trump presidency, with discussions on economic challenges and potential trade strategies ongoing.
The Reserve Bank of India (RBI) data reveals a significant increase in counterfeit high-value currency notes over the past five years. Fake Rs 500 notes surged by approximately 300%, while the Rs 2000 notes, which were withdrawn in May, also contributed to this alarming trend.
Wall Street banks are poised for their worst trading year since the pandemic, with projected revenues from foreign-exchange and rates trading falling significantly. Over 250 firms, including major players like Goldman Sachs and JPMorgan, are expected to generate $32 billion from Group-of-10 rates and $16.7 billion from currencies, marking declines of 17% and 9% respectively.
The dollar is poised for its largest weekly decline since August, with a 1.1% drop this week, as investors reassess the Trump trade that has previously bolstered the currency. Concerns are mounting over President-elect Donald Trump's social media activity and its potential impact on the U.S. economy. The Bloomberg Dollar Spot Index fell 0.2% on Friday, reflecting growing uncertainty in financial markets.
Japan's Prime Minister Shigeru Ishiba is poised to unveil his policy vision in parliament, seeking approval for a ¥13.9 trillion ($92 billion) extra budget aimed at stimulating the economy. Following early policy inconsistencies and challenges at international summits, Ishiba aims to address rising living costs and prepare for the incoming US administration under President-elect Donald Trump.
ANZ Group Holdings Ltd. has revised its outlook for Australia's easing cycle, predicting it will start later and be shallower than expected. The first rate cut is now anticipated in May, down from February, with a total of two cuts instead of three, influenced by the RBA's hawkish stance and improving economic indicators.
Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital, does not anticipate a significant correction in midcap and smallcap stocks, citing a lack of fundamental economic triggers. He remains fully invested and optimistic about the long-term prospects of the Indian economy. Gupta also predicts 3-4 Fed rate cuts in 2025, with inflation resurgence as the main risk to this outlook.
Japan may delay a decision on tax increases needed to fund its significant military expansion, according to Mitsunari Okamoto, the policy chief of Komeito. He emphasized that even if a decision isn't reached this year, the country will continue to enhance its defense capabilities.
Lebanon's foreign minister, Abdallah Bou Habib, stated that the government had no role in the decision to engage in war with Israel, emphasizing support for Hezbollah while opposing the conflict. He affirmed commitment to a U.S.-France brokered cease-fire and the implementation of UN resolution 1701, which aims to ensure Israeli withdrawal and control by the Lebanese Armed Forces. The ongoing conflict has severely impacted Lebanon's economy, with damages estimated at $8.5 billion, and the government is seeking foreign funding for reconstruction amidst significant challenges.
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