Currency Devaluation News
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As Japan’s cherry trees bloomed and the stock market soared, Kohetsu Watanabe flew to a blossom- viewing party in Tokyo hosted by Prime Minister Shinzo Abe to tell the premier personally how bad things really are.
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Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest fixed-income fund, said the 30-year bull market for bonds has probably ended as yields reached a low and prices peaked.
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Pacific Investment Management Co.’s Bill Gross raised the holdings of Treasuries in his flagship fund at to the highest level since July 2010 while warning that investors face potential losses from central-bank policies.
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The Federal Reserve will refrain from tapering its $85 billion in monthly bond purchases before the end of Chairman Ben S. Bernanke’s term in early 2014, according to Brown Brothers Harriman & Co.’s Marc Chandler.
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DirecTV, the largest U.S. satellite- television provider, rose the most in four years to an all-time high after reporting first-quarter profit that topped estimates, bolstered by Latin American subscriber growth.
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Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said global central bank debt purchase programs and almost-zero interest rates are bolstering economic growth and asset prices at a cost to savers and investors.
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Ford Motor Co., earning its heftiest profits ever in North America, is pumping money back into operations to counter new pickups from competitors and a growing currency advantage for Japanese automakers.
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Central banks bought the most gold since 1964 last year just before the collapse in prices into a bear market underscored investors’ weakening faith in the world’s traditional store of value.
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The International Monetary Fund said today that monetary policy should remain accommodative to boost growth in advanced economies, while complaints about competitive currency devaluation appear “overstated.”
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Iran’s finance minister says his country’s economy is adapting to Western sanctions by finding new markets for agriculture and mining products after oil exports plunged by almost half.
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