Actualités financières en direct

US investors will track major bank earnings, September inflation data and Treasury yields this week for clues on corporate profitability and the Federal Reserve’s rate outlook, as persistent price pressures and rising borrowing costs …

US investors will track major bank earnings, September inflation data and Treasury yields this week for clues on corporate profitability and the Federal Reserve’s rate outlook, as persistent price pressures and rising borrowing costs test the stock market ral… US stock investors will turn their attention this week to quarterly earnings from major banks, inflation data and other economic releases for clues on corporate profitability and the outlook for inte…

Indian mutual funds are set to sell more government bonds after offloading $4.5 billion since July, four fund managers said, as the ​central bank's policy shift raised expectations of a longer, steeper rate-tightening ​cycle. …

Indian mutual funds are set to sell more government bonds after offloading $4.5 billion since July, four fund managers said, as the ​central bank's policy shift raised expectations of a longer, steeper rate-tightening ​cycle. The Reserve Bank of India raised rates for the first time in nearly four ‌years and signalled further increases as inflation rises. Mutual funds have reduced their exposure to longer-dated government bonds as rate expectations have changed, said Mansi Sajeja, a fixed-income fund manager at SBI Mutual Fund. Asset managers sold a net ₹5,100 crore ($527.08 million) of government bonds in the three sessions after the rate increase, adding to sales of ₹37,800 crore in July-September. "The policy tone sounded more cautionary on inflation generalization than growth outlook, giving it a hawkish tilt," Amit Somani, a deputy head of fixed income at Tata Asset Management said. Somani expects long-term bond yields to rise to a range of 7.20%-7.40%. The five-year bond yield topped 7.05%, rising by ‌almost 70 basis points in two months, while the 10-year bond yield was close to 7.35% levels, highest in nearly three years. "Several factors, including global rate hikes, multi-decade high global bond yields, expectations of an earlier-than-anticipated domestic rate-hike cycle, and continued uncertainty in energy markets, prompted mutual funds to reduce duration risk by trimming government bond exposure," said Vikas Garg, head of fixed income at Invesco Mutual Fund. Heavy open market sale of bonds by the RBI and risks of a repeat ​of such operations have also altered demand-supply dynamics, fund managers said. The RBI sold bonds worth ₹1 trillion last month, notching its highest net sale for any financial year in over a decade. SHIFT TO SHORT-TERM ASSETS While selling long duration government bonds, mutual funds are moving to ultra-short ​duration assets across ‌government and corporate debt. Axis Mutual Fund now prefers one-year to three-year high-quality corporate bonds, where favourable carry, ‌ample liquidity and limited issuance of banks' certificates of deposit create an appealing opportunity, the fund house said in a note. It may look to tactically add duration only when rate-hiking cycle ‌progresses ​and yields become ​more attractive. Aditya Birla Sun Life AMC likes the ultra-short term debt while Bandhan Asset Management has slashed its weighted average bond duration to less than a year, from around ‌12 years, the ​fund houses said in recent interviews with Reuters.

On Monday, Indian government bonds experienced a significant decline due to central bank measures affecting liquidity. The benchmark 6.94% 2036 bond yield rose to its highest level in three years. The Reserve Bank of …

On Monday, Indian government bonds experienced a significant decline due to central bank measures affecting liquidity. The benchmark 6.94% 2036 bond yield rose to its highest level in three years. The Reserve Bank of India announced it would sell 250 billion … Indian government bonds fell sharply on Monday as the central bank's measures to directly drain banking system liquidity, alongside foreign exchange operations that could indirectly reduce the surplu…

STOCKHOLM (AP) — American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics Monday for their work on models that have helped governments and central banks manage economic shocks, …

STOCKHOLM (AP) — American economists Robert E. Hall and Michael Woodford won the Nobel Memorial Prize in economics Monday for their work on models that have helped governments and central banks manage economic shocks, such as energy crises and inflation. The Royal Swedish Academy of Sciences announced the winners in Stockholm, noting that their work created the theoretical foundation to better understand how consumers decide whether to save or spend, insights that make it easier for policymakers worldwide to stabilize economies after fluctuations. "The laureates' research has made it possible to manage major macroeconomic crises far more effectively than before," the Nobel committee wrote in a paper explaining the economists' work. "It has been hugely beneficial during the pandemic and the energy crises of recent years." Advertisement Advertisement Advertisement Advertisement Hall, 83, is affiliated with Stanford University in California. Woodford, who was born in 1955, is affiliated with Columbia University in New York. Woodford spoke to the committee by phone from New York: "It's a tremendous honor. It's a surprise." Hall also said the award was a "wonderful surprise." "I've spent my career trying to understand how the economy works, following interesting questions wherever they led. When I thought I had a new idea, the next step was to find out whether it was actually new, whether it was right, and whether it mattered," he said in a statement released by Stanford. Duo overturned earlier economic assumptions For decades, governments responded to economic shocks by following the Depression-era prescriptions of the British economist John Maynard Keynes: Intervene in the economy by lowering interest rates and taxes and hiking government spending, thereby encouraging consumers and businesses to spend and invest and help restart growth. Advertisement Advertisement "This is the Keynesian recipe and it worked well — until it didn't," said Timo Boppart of the Nobel economics committee. Policymakers had thought economic management involved simple trade-offs — unemployment, for instance, would stay low at a time of high inflation and rise when inflation fell. But the " stagflation " of the 1970s — when the world economy experienced simultaneous high inflation and high unemployment — proved the formula was simplistic. Some economists argued that government attempts to intervene in the economy were doomed to fail. But Hall and Woodford, in separate contributions, set about improving the Keynesian model to take into account how consumers and businesses actually make decisions about whether to invest and spend. "Economic outcomes are the result of millions of decisions made at the microlevel by households and businesses,'' the Nobel committee wrote. "Using models based upon this approach, rather than simply studying the economy from a macro perspective, like a bird's eye view," Hall and Woodford's research "generated a paradigm shift in the theory of stabilization policy." Hall studied consumer choices Hall studied the way that consumers' decisions about whether and how much to spend depend on what they expect their future income to be. Advertisement Advertisement "If they are optimistic, they will consume more than if they are pessimistic,'' the committee wrote. But consumer expectations can change unexpectedly as new information about the economy comes in. Hall found that forecasting future consumer spending is virtually impossible. The idea that consumption is mostly unpredictable "is not good news for forecasters, or policymakers," Olivier Blanchard, who was chief economist at the International Monetary Fund during the 2008 financial crisis, said by email. "But it is news they must take into account in thinking about the effects of policy." Hall also explored the idea that some households are so strapped financially that they can't borrow or tap savings in response to economic changes. In a 1982 paper with the economist Fredric Mishkin, Hall found that around 80% of households made spending decisions based on their expectations for the future "while the rest lived hand to mouth," the committee wrote. "The prize is for research that pushes our understanding of macroeconomics from the bottom up, from families and firms making decisions over time, while looking ahead," Ivan Werning, an economist at the Massachusetts Institute of Technology, said in an email. Woodford analyzed how businesses make decisions Woodford's research established that businesses make decisions about prices based on where they think interest rates will go in the future. Advertisement Advertisement "If the business believes that its competitors' prices and its own costs will increase, it is best to set a higher price than it would with the opposite expectation," the Nobel committee wrote. "Businesses' decisions are thus also governed by their expectations." Therefore, central banks such as the U.S. Federal Reserve, which set short-term interest rates, should provide "clear and credible communication about how they reason and what they plan to do." Central banks have responded to this insight by working harder to explain what they are doing. The new Fed chair, Kevin Warsh, has said the trend toward such "forward guidance" went too far. He's trying to scale back how much the U.S. central bank talks about its thinking and its intentions. Woodford's research also offered guidance on how central banks should respond to energy price shocks — like the one that followed the U.S. and Israeli attack on Iran in February — that can both feed inflation and send unemployment higher. Advertisement Advertisement "Unlike the traditional Keynesian models, Woodford's model recommends a cooling measure, such as increased interest rates, to avoid uncontrolled inflation," the Nobel committee wrote. "His insight has made it possible to respond to recent supply shocks more effectively than during the oil crises of the 1970s." During the phone call broadcast at a news conference, Woodford said his work has stressed "the understanding of the people who are in the markets and making decisions about spending." Economics prize is last Nobel announcement this year The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes. Nobel purists stress that the economics prize is technically not a Nobel Prize, but it is always presented together with the others on Dec. 10, the anniversary of Nobel's death in 1896. Advertisement Advertisement Nobel honors were announced last week in medicine, physics, chemistry, literature and peace. Monday's award was the second Nobel win for a Stanford University professor this year. Dr. Karl Deisseroth shared the medicine prize with Peter Hegemann and Georg Nagel for their work that led to a tool that uses light to help unravel how the brain works. The prize money this year is 12 million Swedish kronor (about $1.2 million), whether for an individual, small group of laureates or organization. ___ Wiseman reported from Washington. Dazio reported from Berlin. Associated Press Writer Wyatte Grantham-Philips in Chicago contributed to this report. Advertisement Advertisement ___ AP Nobel Prizes: https://apnews.com/hub/nobel-prizes

India's inflation is projected to reach 6-7% due to increasing price pressures and consumer expectations. The Reserve Bank of India has acknowledged risks stemming from rising input costs and resilient domestic demand. Recent trends …

India's inflation is projected to reach 6-7% due to increasing price pressures and consumer expectations. The Reserve Bank of India has acknowledged risks stemming from rising input costs and resilient domestic demand. Recent trends show that household inflat… New Delhi: India's inflation risks are significantly higher than the Reserve Bank of India (RBI) currently acknowledges, with price pressures likely to push inflation to 6-7 per cent in the coming qu…

Gold buying by China's central bank and local households has helped support bullion even as interest rates stay high. That kind of steady demand highlights how investors worldwide keep searching for assets that can …

Gold buying by China's central bank and local households has helped support bullion even as interest rates stay high. That kind of steady demand highlights how investors worldwide keep searching for assets that can hold their own when macro stories change fas… Gold buying by China's central bank and local households has helped support bullion even as interest rates stay high. That kind of steady demand highlights how investors worldwide keep searching for …

Eurozone government bond yields eased as lower energy prices and a Russia-Ukraine energy ceasefire announcement improved investor sentiment. German yields declined, while French and Italian bond spreads narrowed. However, markets continued pricing in higher …

Eurozone government bond yields eased as lower energy prices and a Russia-Ukraine energy ceasefire announcement improved investor sentiment. German yields declined, while French and Italian bond spreads narrowed. However, markets continued pricing in higher E… Eurozone government bond yields edged lower on Monday, while risk premiums on French and Italian debt narrowed slightly as falling energy prices eased market concerns following US President Donald Tr…

S&P 500 futures rise as big banks set to kick off earnings season: Live updatesCNBC Oil Rises on Mideast Attacks, Dollar Edges Higher: Markets WrapBloomberg.com Stock Market News, Oct. 9, 2026: Stocks Rise as …

S&P 500 futures rise as big banks set to kick off earnings season: Live updatesCNBC Oil Rises on Mideast Attacks, Dollar Edges Higher: Markets WrapBloomberg.com Stock Market News, Oct. 9, 2026: Stocks Rise as Tech Shakes Off Thursday SelloffWSJ U.S. stock fut… If I have not seen as far as others, it is because giants were standing on my shoulders. -- Hal Abelson

Four years ago, with inflation at multi-decade highs, then-Federal Reserve Chair Jerome Powell delivered a blunt message to Americans: Getting inflation under control would come at a cost. The Fed needed to act “forcefully,” …

Four years ago, with inflation at multi-decade highs, then-Federal Reserve Chair Jerome Powell delivered a blunt message to Americans: Getting inflation under control would come at a cost. The Fed needed to act “forcefully,” Powell told attendees at a key central banker conference that August. Doing so, he cautioned, would bring “some pain” for consumers. Now, with the Fed back to raising interest rates for the first time in three years, a familiar warning about the economic fallout is resurfacing. Inflation across the country is being driven primarily by fuel prices, which have skyrocketed since the war with Iran broke out in February. The Fed has little control over oil production, but by raising interest rates, it is seeking to prevent higher energy costs from spilling over into other parts of the economy and fueling broader inflation. A sign displays the prices of unleaded gasoline and diesel fuel as a driver refuels a vehicle at a gas station in Torrance, California, on September 28, 2026. Caroline Brehman/Bloomberg/Getty Images While this type of supply-driven inflation may be easier to bring under control than the post-pandemic demand-driven inflation, “it won’t be painless either,” Chicago Fed President Austan Goolsbee said last month. For central bankers, the challenge is balancing two competing priorities: keeping inflation in check and preserving a healthy labor market. When price increases become too rapid, the Fed typically raises interest rates, making borrowing more expensive for consumers and businesses. That, in turn, can curb spending and cool demand, easing pressure on prices. But that slowdown can come at a cost to workers, often leading to weaker hiring, fewer job openings, and, in some cases, job losses, as businesses struggle with higher borrowing costs. “Inflation is the disease. And now the Fed comes with a cure: higher interest rates,” Beth Ann Bovino, chief economist at US Bank, said. “I don’t know which is more painful because they both hurt.” A customer shops in a supermarket in New York on September 28, 2026. Charly Triballeau/AFP/Getty Images Consumer spending accounts for roughly two-thirds of US economic activity, making it a key driver of growth. If Americans pull back — either because prices are eating up more of their budgets or because higher borrowing costs force them to set aside more money for expenses such as a home purchase — the economy could slow. In a worst-case scenario, that pullback could help tip the economy into a recession, Bovino told CNN. For now, though, economic pain isn’t being felt equally. Americans with substantial investments in the stock market, which is hovering near record highs, may be doing just fine. Those who rely more heavily on their paychecks to cover everyday expenses have less of a cushion against rising prices. “Those are the people being hurt,” she said. Patience is a virtue — until it isn’t With the risks of higher interest rates in mind, a growing chorus of Fed officials have recently been advocating for a more patient approach as they tackle the issue of inflation. Rather than trying to get a head start at fighting the potential for more or broader-based inflation, several central bankers have said they’d like more time to observe how economic conditions evolve to get a better idea of how many more rate hikes, if any, are needed. “There is no need for urgency,” New York Fed President John Williams said last month. Fed Vice Chair Philip Jefferson echoed that sentiment. “Any future adjustments in policy should be determined by carefully examining trends in the data, the evolving outlook and the balance of risks,” he said earlier this month. But waiting to act carries risks of its own. With the Fed’s preferred inflation gauge more than a percentage point above its 2% annual target, Cleveland Fed President Beth Hammack warned that delaying action could make the fight against inflation even more painful. “The longer inflation stays above our objective, the harder it will be for us to bring it back down, and the more pain that individuals and businesses are going to be experiencing,” Hammack said in an August CNBC interview. For the Fed, the challenge is figuring out how much pain the economy can withstand — and which risk is worse: acting too soon or waiting too long. Either way, consumers are likely to pay the price. The September Consumer Price Index report due Wednesday may give officials some valuable clues.

India's retail inflation accelerated to 5.54% in September 2026, a notable rise from August's 4.83%. This jump is particularly linked to rising food prices, predominantly in vegetables. Rural inflation hit 6.08%, outpacing urban inflation …

India's retail inflation accelerated to 5.54% in September 2026, a notable rise from August's 4.83%. This jump is particularly linked to rising food prices, predominantly in vegetables. Rural inflation hit 6.08%, outpacing urban inflation at 4.88%. In respons… Indias retail inflation quickened to 5.54% in September 2026 from 4.83% in August, driven by a sharp rise in food prices, particularly vegetables, according to government data released on Monday.The …