Bank of America Corp (BAC): * BANK OF AMERICA CORPORATION ANNOUNCES CME TERM SOFR AS BENCHMARK REPLACEMENT RATE FOR CERTAIN OUTSTANDING USD LIBOR SECURITIES AFTER JUNE 30, 2023 Source text for Eikon: Further company coverage:
Argentina's central bank dollar sell-off is set to end March at the fastest monthly pace since late 2019, according to official data and traders, underscoring the precarious position for the indebted country as drought hits its vital grains exports. The bank will end the month having sold $1.9 billion in foreign currency to meet payments and prop up the embattled peso currency's crawling peg.
A look at the day ahead in U.S. and global markets from Mike Dolan Global investors seem keen to put the March bank shock behind them, but inflation's grim persistence makes it difficult to clear the horizon.
* World stocks up 6% after rollercoaster few months. * Bond markets see huge swings between hope and fear. * Banking turmoil evokes memory of crises past. * Dollar slips whereas bitcoin roars back to form. By Marc Jones.
Spring is in the air, the banking crisis appears to have been contained for the time being and it's time to take a look at how the real economy is faring.
Even after a bank shock that could well have changed the whole picture, investors appear reluctant to give up the ghost just yet. Far from running for cover, asset managers doubt the now seemingly contained banking stress will prove systemic.
Core consumer inflation in Japan's capital Tokyo slowed in March for a second month but remained well above the central bank's 2% target, data showed on Friday, highlighting broadening price pressures in the world's third-largest economy.
* Tokyo March core CPI rises 3.2% yr/yr vs f'cast +3.1% * Slowdown due largely to govt steps to curb utility costs. * Tokyo core-core CPI up 3.4% yr/yr in March. * Factory output rises 4.5% in Feb, further gains eyed. By Takahiko Wada and Leika Kihara.
Australia's central bank is expected to go for a final 25 basis point interest rate hike to 3.85% on Tuesday, although forecasts from economists polled by Reuters suggest the decision on whether to hike or hold rates is on a knife edge.
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