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Stocks Pare Gains Amid Rotation Out of Big Tech: Markets Wrap

(Bloomberg) -- U.S. stocks fell for the first time in five days amid declines in megacap tech shares. The S&P 500 dropped, following the benchmarkโ€™s 69th record close this year on Monday. The Nasdaq 100 dropped on turnarounds in four-day rallies for the likes of Nvidia Corp., Apple Inc. and Alphabet Inc. The U.S. 10-year Treasury yield dipped while oil advanced to a one-month peak. Stocks swung between gains and losses as investors evaluated the resilience of the global recovery amid a record ...
New York United States United Kingdom Stoxx Europe Patrick Armstrong Anderson Lafontant

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Traders Are Making Life Difficult for Central Banks in Switzerland and Israel

(Bloomberg) -- Traders in Switzerland and Israel are once again testing central banks in their commitment to currency intervention. Policy makers in both nations have been known to weaken their respective currencies to support their economies. Investors are now pushing back amid a brighter outlook for growth and inflation, putting the Swiss National Bank and the Bank of Israel in a tight spot. The Israeli shekel surged on Tuesday to the strongest level in more than 25 years, before reversing gai...
New York United States Amir Yaron Paul Meggyesi Ray Attrill Jpmorgan Chase Co

Swiss Franc Rally Shows Traders See It as Key Stagflation Hedge

(Bloomberg) -- Currency traders are responding to stagflation risks by turning to the Swiss franc. Amid concerns that the global economy is heading toward an environment characterized by higher-than-normal inflation and little or no growth, the Swiss currency is showcasing its haven status. It rose Thursday to the strongest level against the yen -- another traditional haven currency -- since December 2015, while it reached an 11-month high versus the euro. According to Deutsche Bank analysts, th...
Given The Swiss National Bank Deutsche Bank Swiss National Bank Business General Currency Values

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