News

When asked about closer ties with the EU, Bank of England Governor Bailey said he supports stronger trade and openness.

Russian media reported that a pressure drop occurred on a main gas pipeline in the Topkinsky District of Kemerovo Oblast, Russia.

Market news: The Ryazan oil refinery in Russia has been suspected of being attacked.

Bank of England Deputy Governor Lombardelli: The minimum wage increase is in line with or lower than public expectations.

Bank of England Deputy Governor Lombardelli: We do not see public sector wages as a particular risk.

Bank of England Governor Bailey: Hopefully we will have more information about the outcome of the war by December.

Bank of England Deputy Governor Lombardelli: Consumer-facing industries say their pricing power is weaker than that of the business-to-business sector.

Bank of England Deputy Governor Ramsden: The downward trend in UK service sector price inflation appears to have slowed or stopped.

Apple (AAPL.O) has launched a seven-tranche offering of high-grade US dollar bonds.

LSEG IBES analysts expect European companies' revenue to grow by 11.9% in the third quarter, compared with an expectation of 13.6% a week earlier.

LSEG IBES analysts expect European companies' third-quarter earnings to grow by 25.0%, compared to a 23.6% increase expected a week earlier.

Bank of England Governor Bailey: Now we really have to focus on ending this conflict.

Bank of England Governor Bailey: Inflation could fall more quickly if there is good news from the conflict.

Bank of England Governor Bailey: Without a doubt, the best outcome would be a resolution to the conflict.

Bank of England Governor Bailey: There are strong reasons to raise interest rates again while the conflict remains unresolved.

Bank of England Governor Bailey: The encouraging news of the past 48 hours does not mean we can say that there will be no need for further interest rate hikes in the future.

Bank of England Governor Bailey: Even if we knew in advance what would happen in the past 48 hours, the interest rate decision would still be the same.

Bank of England Governor Bailey: News from the past 48 hours has had a significant impact on the outlook.

Following the Democratic landslide victory, the market exhibited a very clear trading preference: investors preferred to hold large, high-quality companies with clear financing capabilities and computing resources, making large-cap tech a safe haven once again. As for JPMorgan Chase's own allocation, they continue to employ a "barbell strategy" of tech stocks plus cyclical stocks, but with a higher weighting in cyclical stocks. They will still bet on a tactical rebound in tech stocks. However, the market may increasingly differentiate between winners and losers in the tech/AI sector. Consumer and financial stocks within the cyclical sector are likely to continue performing well, especially given the continued steepening of the yield curve.

Bank of England Governor Bailey: It may be necessary to further raise key interest rates.