JPMorgan Financial News

After a near 30% run-up in just three months, oil bulls are counting on OPEC to sprinkle a little more magic dust on the market. 

Investing.com — It's OPEC+ week ahead and we can expect the drone on how much higher crude prices can go to continue all week.

ZURICH (Reuters) -Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the $1.5 billion-plus «tuna bond» scandal, the Swiss bank's new owner UBS said on Sunday, drawing a line under a damaging dispute it inherited.

The owners of a 55.45 per cent stake in Melbourne toll road EastLink are ready to launch the mooted auction,after the auction’s big gorilla, Transurban, was handed a speeding ticket by the competition regulator on its ability to bid.

Key Takeaways

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday. Brent November futures which expire on Friday were down 21 cents to $95.17 per barrel. Brent December futures lost 10 cents to trade at $93.00 per barrel at 0055 GMT. U.S.

FTSE Russell kept India on a watch list for inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI), the index provider said on Friday. «Areas for improvement in the Indian government bond market structure highlighted by international investors remain largely unchanged from the previous March 2023 review,» FTSE said in its annual country classification review. The move comes a week after JPMorgan announced India will be a part of its influential GBI-EM index suite starting in June.

markets bond index starting June 2024. Although such indices have been around for a long time, IGBs were not part of them due to a variety of reasons. However, since 2013 — when the idea of index inclusion was first floated — the Indian authorities have made steady progress in facilitating foreign investment into IGBs.

New Delhi: Global index provider FTSE Russell kept India on a watch list for inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI), the index provider said on Friday. "Areas for improvement in the Indian government bond market structure highlighted by international investors remain largely unchanged from the previous March 2023 review," FTSE said in its annual country classification review.

JPMorgan’s debt capital bankers were expected to price a $US850 million ($1.3 billion) high-yield bond deal for Chris Ellison’s Mineral Resources overnight, after running a multi-country roadshow earlier this week.

By Davit Kirakosyan

India 10-year yield posts biggest single-session rise of 2023 Indian government bond yields climbed on Thursday, with the benchmark yield posting its biggest single-session rise in 2023, triggered by a relentless rise in oil prices as well as Treasury yields, while debt supply further hurt. The 10-year benchmark 7.18% 2033 bond yield ended at 7.2414% after ending at 7.1704% in the previous session. The yield posted its biggest single-session rise since Nov.

By MacDonald Dzirutwe and Libby George

China Evergrande shares suspended, China may have some learnings from US, India says Uday Kotak The non-performing ratio may go up to 13% of all privately-owned builders and “low quality" state-owned developers were to go into distressed status, pushing earnings down by 10%, they said. In a bid to boost demand in the property sector in China, the Xi Jinping government directed large cities to cut down payments for homebuyers and encouraged lenders to lower rates on existing mortgages in August. Beijing had announced that nationwide minimum down payments will be set at 20% for first-time buyers and 30% for second-time purchasers.

₹33,000 crore for its 33.47% stake and will only cede control if binding bids value the drugmaker at ₹1 trillion, according to one of the two people. “The latest discussions with Cipla promoters’ bankers regarding valuations and the premium to market price happened on Friday," said the first person, who added that Cipla’s promoters want a price of a little over ₹1,200 per share. Cipla’s shares ended trading at ₹1,180.50 on Wednesday, valuing the company at ₹95,300 crore.

A majority of Wall Street investors didn't take solace in stocks' 2023 gains, thinking the market could retreat further as risk for a recession creeps up, according to the new CNBC Delivering Alpha investor survey. 

A spokesperson for Chase UK told Investment Week, the bank was «committed to helping keep our customers' money safe and secure».

bonds for the first time, introducing ultra-long maturity debt to cater to the growing demand from insurance and pension funds. The new bond adds to the 30-year and 40-year tenor debt sold, extending the nation’s yield curve, according to a borrowing plan released by the Reserve Bank of India on Tuesday. The nation’s burgeoning life insurance and pension fund industries, driven by an expanding middle class, are changing the landscape for India’s $1 trillion sovereign debt market. The sale reflects their growing heft, and helps Prime Minister Narendra Modi’s government reduce its reliance on purchases by banks to fund record borrowings. “Investor demand has been strong, supported by the expansion of the formal sector, with households allocating a higher share of financial savings in life insurance, pensions and provident funds,” Gaura Sen Gupta, economist at IDFC FIRST Bank wrote in a note. The authorities are trying to increase the tenure of debt sold and expect yields to decline after India’s inclusion in JPMorgan Chase & Co.’s emerging market index, a government official, who didn’t want to be named, told reporters. The government will sell 300 billion rupees ($3.6 billion) of the 50-year bond in the October to February period, which accounts for almost 5% of its total borrowings.

rupee ended 8 paise lower at 83.23 a dollar. The rupee hit its record level of 83.29 in October 2022. Also Read: India could be the largest beneficiary: JPMorgan CEO explains why as companies look options beyond China Asian currencies were mostly weaker with the Korean won leading losses.

JPMorgan for Asia Pacific, highlighted the growing enthusiasm for the "China plus one" approach among businesses. He emphasised that India, among other nations, stands to reap substantial benefits from this strategy, potentially emerging as the primary beneficiary.

borrow ₹6.55 lakh crore from the market through dated securities in the second half of this financial year, staying with the budget estimate and indicating a comfortable fiscal situation for now. In the first half of 2023-24, the government announced ₹8.88 lakh crore market borrowing out of the full-year target of ₹15.43 lakh crore. The second half market borrowing will include a new 50-year security for the first time, the finance ministry said in a statement.