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Cornell Alerts International Students Ahead of 'Likely' Trump Travel BanMost EM currencies rise as dollar rally stalls after Trump Treasury nomination Most emerging market currencies advanced on Monday as the dollar weakened globally after US President-elect Donald Trump nominated Wall Street veteran Scott Bessent as Treasury secretary, pulling Treasury yields lower. Trump said late on Friday he would nominate prominent investor Bessent as US Treasury secretary, which sent the greenback and Treasury yields lower, giving a leg up to emerging market assets. Some strategists said his nomination was a relief as he understands markets and his appointment could reduce the chance of severe tariffs.Jane Foley, senior FX strategist at Rabobank wrote that Bessent’s appointment has “raised the possibility that some ‘Trump trades’ may be watered down”. South Africa’s rand was up 0.2 per cent, while most dollar-pairs in emerging Europe also rose, with the Czech crown among top gainers, last up 0.7 per cent.Against the euro, Hungary’s forint was an outlier, down 0.6 per cent, briefly hitting its lowest since December 2022. Romania’s international dollar-denominated debt fell after results showed hard-right Nato critic Calin Georgescu and centre-right opposition party leader Elena Lasconi will likely face each other in a Dec 8 presidential run-off vote. The bond maturing in 2053 was the hardest hit, down more than 1.5 cents on the dollar.Israel’s shekel was last up 0.7 per cent against the dollar ahead of a local interest rate decision, with consensus tilted towards the Bank of Israel keeping rates steady at 4.5 per cent. EM assets have experienced a torrid November as investors mull the implications of Trump’s policies on trade, tariffs and immigration.“EM FX and rates continue to be tightly linked to US assets. Amidst geopolitical tensions and US policy uncertainty, external macro factors will dominate EM asset performance,” Phoenix Kalen, Societe Generale’s global head of emerging markets research wrote in a note. Continued repricing of the Federal Reserve’s interest rate path has also helped the dollar globally, weakening EM currencies.Minutes from the Fed’s most recent policy meeting, where it opted to cut interest rates by 25 basis points, are due to be released on Tuesday. MSCI’s index for emerging market equities had added 0.6 per cent by 1027 GMT, as shares in emerging Asia, which account for the bulk of the index’s weight, rose.India’s benchmark Nifty 50 was last up more than 1.0 per cent as the ruling alliance’s victory in a Maharashtra state election over the weekend boosted sentiment. Most stocks linked to billionaire Gautam Adani also reversed some of the sharp falls of the previous two sessions posted after the founder’s indictment for fraud by US prosecutors and arrest warrants issued for him over an alleged $265 million bribery scheme. Chinese equities lagged with the blue-chip CSI 300 hitting a more than five-week low and the Hong Kong benchmark clocking its weakest close since September.Late on Friday, credit ratings agency Moody’s upgraded Saudi Arabia’s rating to ‘Aa3’ from ‘A1’, citing the country’s efforts to diversify beyond its oil economy. Prices of the country’s dollar-denominated bonds rose, with the 2054 maturity outperforming, up 0.9 cents on the dollar. Moody’s also upgraded Cyprus’ long-term issuer and senior unsecured ratings to A3 from Baa2, citing a “material improvement” in fiscal and debt metrics that the rating agency expected to be sustained.
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NoneOMAHA, Neb. (AP) — Creighton point guard Steven Ashworth likely won't play Tuesday in the No. 21 Bluejays' game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday, and coach Greg McDermott said he didn't know how long he would be out. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
No. 21 Creighton's Steven Ashworth doubtful for Players Era Festival opener against Aztecs