* Canadian factory sector activity slows for fourth month. * Bank stocks fall after CIBC, BMO and TD report results. By Johann M Cherian. Canada's main stock index rose for the third-straight session on Thursday, supported by technology and commodity-linked shares, while investors digested mixed manufacturing data.
* Canadian dollar weakens 0.3% against the greenback. * Price of U.S. oil rises 2.9% * Canadian manufacturing PMI rises to 49.6 in November. * Canadian bond yields ease across curve.
* World stocks climb to highest since August. * Powell bolsters bets for 50 bps U.S. rate hike this month. * Bond markets rally on hopes of lower terminal rates. * Dollar sags to lowest since August. * China eases some COVID quarantine rules. * Wall Street expected to see slow start after Wednesday's surge. By Marc Jones.
STOCKS: The benchmark BSE Sensex rose 184.54 points, or 0.29%, to 63,284.19, while the broader NSE index gained 60.65 points, or 0.32%, to 18,819, tracking gains in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes.
* World stocks climb to highest since August. * Powell bolsters bets for 50 bps U.S. rate hike this month. * Bond markets rally on hopes of lower terminal rates. * Dollar sags to lowest since August. * China eases some COVID quarantine rules. * By Marc Jones.
Euro zone yields dropped on Thursday, taking cues from moves in U.S. Treasuries, after Federal Reserve chair Jerome Powell signalled the central bank could slow its pace of policy tightening as soon as its December meeting.
STOCKS: The benchmark BSE Sensex rose 313.55 points, or 0.5%, to 63,413.2, while the broader NSE index gained 84.05 points, or 0.45%, to 18,842.4, tracking a global rally after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December."
Japan's government bond futures rose to a one-week high on Thursday after Federal Reserve Chair Jerome Powell said the U.S. central bank could slow the pace of rate hikes as soon as this month. Benchmark 10-year JGB futures rose 0.36 yen to 149.08, hitting its highest since Nov. 25, with a trading volume of 14,120 lots.
- A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes. Though asset prices have been battered by the Fed's rate rises this year, momentum has been on the side of the bulls in recent weeks.
Indian government bond yields declined on Thursday, with the benchmark yield easing back to 7.25% levels, tracking a similar move in U.S. peers, after U.S. Federal Reserve Chair Jerome Powell struck a more dovish tone than the market expected. The benchmark 10-year yield was at 7.2483% as of 10:00 a.m. IST.
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