India’s rupee led declines among the currencies of the biggest emerging-market economies as the Federal Reserve signaled a reduction in stimulus is still on track, spurring a wave of cash to flow back into larger nations.
International Monetary Fund Managing Director Christine Lagarde urged policy makers to work more closely together as they plan eventual exits from unconventional monetary policies, endorsing swap arrangements between central banks as an instrument to weather instability.
Ben S. Bernanke will be “one of the great chairmen” in the Federal Reserve’s 100-year history, former Bank of Israel Governor Stanley Fischer said, adding that winding down asset purchases could be difficult.
Asian stocks rose, paring the benchmark equity gauge’s biggest weekly decline in two months, after reports from Europe to the U.S. boosted confidence in the economic recovery and the yen weakened against the dollar.
The Federal Reserve’s annual monetary conference in Jackson Hole, Wyoming, will probably focus on global central banks as Ben S. Bernanke becomes the first Fed chairman to pass up the meeting since 1988.
Bond traders have a bee in the bonnet... and the buzz has them running for the exit. Their relentless selling since Dr. Bernanke's first mention of "tapering" in late May has pushed the yield on the 10-year note to the highest since July of 2011.
U.K. stocks fell to the lowest level in more than six weeks amid speculation minutes from last month’s Federal Open Market Committee meeting will signal when the U.S. central bank could start tapering stimulus measures.
Japanese stocks may retreat more than 7 percent in the next two weeks after breaking through a key support level, before rallying almost 20 percent by year- end, according to a technical analyst at Natixis.