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Bank of America strategist Michael Hartnett advises investors to sell U.S. stocks on rallies and buy gold on dips, highlighting a shift in market dynamics. Recent fund flows show a $800 million outflow from U.S. stocks and a $3.3 billion inflow into gold, indicating a growing preference for international assets as U.S. household stock wealth declines by $6 trillion this year. Hartnett identifies key market drivers and suggests that the depreciation of dollar assets will favor commodities and emerging markets.
Nintendo fans in Japan tested the new Switch 2 at an event near Tokyo, amid concerns over potential price hikes due to tariffs. Despite worries, consumer demand appears strong, with 2.2 million applications for the lottery to purchase the console. The Switch 2 is priced at 49,980 yen ($350) in Japan, while U.S. pricing remains at $449.99 despite initial pre-order pauses.
Nissan Motor will cease vehicle production at its Wuhan plant in China by March 31, 2026, due to a significant drop in operation rates, which fell below 10% amid fierce competition from local automakers. The plant, which produces the Ariya electric vehicle and X-Trail SUV, has been leased from Dongfeng Motor since 2022. Additionally, Nissan has projected a record net loss of 700 billion to 750 billion yen ($4.87 billion-$5.22 billion) for the financial year ending in March, attributed to impairment charges.
UBS is negotiating a strategic partnership with General Atlantic to enter the private credit market, aiming to provide loans to corporate clients in North America and Europe. This move reflects UBS's shift towards higher-margin, less volatile investments amid ongoing internal reforms and a focus on profitable niches. The announcement of the deal is expected soon, signaling a significant realignment for the bank.
Toyota Motor Chairman Akio Toyoda has proposed a $42 billion acquisition of Toyota Industries, which has initiated a special committee to evaluate the offer. This potential deal would grant Toyoda full control over a key company within the Toyota group, marking a significant move in Japan's corporate landscape amid rising management buyouts and acquisitions.
Tokyo's inflation rate surged to 3.5% in April, surpassing analyst expectations, driven by a significant rise in rice prices, which are now 94% higher than last year. The previous year's reduction in school fees had a one-off effect that has now dissipated, leading to a rise in the core inflation rate from 1.1% to 2.0%. Despite this improved inflation outlook, uncertainties remain, particularly due to recent US tariff increases, suggesting that the Bank of Japan may delay interest rate hikes until July.
UBS has revised its forecast for the USD/JPY exchange rate, announcing a new target. This adjustment reflects the latest market insights and economic conditions impacting the currency pair. Investors are advised to stay informed on these developments.
Core inflation in Tokyo surged to a two-year high of 3.4% in April, driven by rising food costs and reduced government subsidies, complicating the Bank of Japan's (BOJ) plans to exit its ultra-easy monetary policy. As the BOJ prepares for its policy meeting, concerns over U.S. tariffs and their potential impact on the economy are prompting a cautious approach to interest rate hikes. Economists predict a gradual increase in rates, with the next hike expected in the third quarter.
Market sentiment is expected to be influenced by trade negotiations and potential dovish signals from the Federal Reserve, particularly as the 10-year Treasury yield approaches 4.5%. A rise above this threshold could trigger negative reactions in equity markets and a weakening dollar. Analysts anticipate that the Fed may cut rates multiple times this year due to rising unemployment, while tariffs are expected to decrease, potentially boosting US equities.
Banco Santander-Chile issued a JPY 4 billion bond on April 24, 2025, with a maturity date of April 28, 2045, at a placement rate of 2.80%. Additionally, the bank placed local bonds totaling UF 150,000, maturing on April 1, 2027, at an average rate of 2.05%. These actions aim to diversify funding sources and enhance market position.
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bank of america strategist advises selling us stocks and buying gold
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Bank of America Corporation
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Michael Hartnett
05:33 27.04.2025
nintendo fans preview switch 2 amid tariff concerns before launch
12:02 26.04.2025
nissan to cease production at wuhan plant amid declining output
05:57 26.04.2025
ubs partners with general atlantic to expand private credit market presence
22:30 25.04.2025
Toyota chairman proposes 42 billion dollar acquisition of Toyota Industries
13:28 25.04.2025
Tokyo inflation rises to 3.5 percent amid one-off effects and uncertainties
12:19 25.04.2025
ubs revises usd jpy forecast with new target
11:47 25.04.2025
core inflation in tokyo reaches two year high complicating boj policy decisions
06:01 25.04.2025
market outlook hinges on treasury yields and potential fed rate cuts
03:53 25.04.2025
Banco Santander Chile issues JPY 4 billion bond to diversify funding sources
23:17 24.04.2025
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