Expectation of delay in US rate hike supports risk sentiment; Nikkei also helped by BoJ easing speculation, trade deal. Also mildly supporting the market, twelve Pacific Rim countries including the US, Japan and Canada reached the most ambitious trade pact in a generation, though some analysts say the benefits are far from clear. The Fed has said it is likely to raise rates this year as the economic recovery progresses, but surprisingly soft US jobs data published on Friday led many market players to abandon expectations of a rate hike by the year-end. That boosted sentiment on risk assets, which have been long hit by threats of higher dollar borrowing costs as well as concerns that growth in China may be falling to its slowest in many years. Global crude benchmark Brent rose 2. You are now subscribed to our newsletters.
The dollar index edged up and touched its highest since late May as markets counted down to a likely cut in U. A stronger-than-expected U. Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with a 1-in-4 chance of a half-point move. Absent company news, the Fed remained as the main market catalyst.
The U. The chart uses a broad definition of first- or second-generation immigrants, but it brings a fresh perspective and analysis to how we typically think about the impact of immigrants to the United States. The Obama administration earlier this month announced plans to let spouses of some highly skilled immigrants work. But an immigration reform bill that would affect both low- and high-skilled immigrants has stalled in the House since its passage in the Senate last year. There is some support for the move among the public.
The multimedia Songs About Time is an ongoing project from the Rentals , the revolving-door band founded 15 years ago by then Weezer bassist Matt Sharp. Songs About Time finds Sharp and Co. They began this year-long experiment January 1 and have since made a new black-and-white film every week, not to mention documenting the process with a daily photo diary and recording three mini-albums. Read his introduction.