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EMERGING MARKETS: Global News: October 25

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • JAPAN / US - Japan’s Finance Minister Katsunobu Kato discussed developments in the FX market with US counterpart Janet Yellen, a day after he intensified warnings over a rapid slide in the yen. “Recent moves in foreign exchange rates were discussed at a bilateral meeting today between Finance Minister Kato and Treasury Secretary Yellen,” Atsushi Mimura, Japan’s top currency official, told reporters in Washington on Thursday.
  • EU - ECB Governing Council member Gediminas Simkus said people shouldn’t obsess over the size of a probable interest-rate cut in December, since the question of where borrowing costs will end up is more important. With money-market bets fluctuating on a possible half-point reduction at the final decision of the year, the Lithuanian central-bank chief said he couldn’t justify such a big move at present, but it’s the direction of travel that is key anyway.
  • US - Since Sep 1, more than 102,000 Polymarket users have bet on whether Donald Trump or Kamala Harris will be the next president of the US, propelling Trump’s likelihood of victory to a high of 66.4% on Tuesday despite polls remaining close. According to trading activity, a small number of users are having an outsized impact on the odds. Nearly half of all purchase volume comes from 670 power traders representing just 0.7% of all accounts.
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  • JAPAN / US - Japan’s Finance Minister Katsunobu Kato discussed developments in the FX market with US counterpart Janet Yellen, a day after he intensified warnings over a rapid slide in the yen. “Recent moves in foreign exchange rates were discussed at a bilateral meeting today between Finance Minister Kato and Treasury Secretary Yellen,” Atsushi Mimura, Japan’s top currency official, told reporters in Washington on Thursday.
  • EU - ECB Governing Council member Gediminas Simkus said people shouldn’t obsess over the size of a probable interest-rate cut in December, since the question of where borrowing costs will end up is more important. With money-market bets fluctuating on a possible half-point reduction at the final decision of the year, the Lithuanian central-bank chief said he couldn’t justify such a big move at present, but it’s the direction of travel that is key anyway.
  • US - Since Sep 1, more than 102,000 Polymarket users have bet on whether Donald Trump or Kamala Harris will be the next president of the US, propelling Trump’s likelihood of victory to a high of 66.4% on Tuesday despite polls remaining close. According to trading activity, a small number of users are having an outsized impact on the odds. Nearly half of all purchase volume comes from 670 power traders representing just 0.7% of all accounts.