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Japan All Industry Activity Rebounds As Expected In October





Japan's all industry activity increased as expected in October, after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed Wednesday. The all industry activity index rose 0.3 percent month-over-month in October, reversing a 0.5 percent decrease in September. Industrial production advanced 0.5 percent over the month and tertiary activity gained by 0.3 percent. At the same time, construction output dropped 0.3 percent. On a yearly basis, all industry activity growth accelerated to 2.0 percent in October from 1.0 percent in the prior month.


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U.S. Regulators Halt Trading of Crypto Company Shares





The U.S. Securities and Exchange Commission has suspended trading in shares of Crypto Company, whose stock value has surged more than 2, 000 percent this month due to the bitcoin mania, stating it was concerned over the possibility of market manipulation.


The California-based company said it is building a cryptocurrency trading and advisory business, is one of some of the previously obscure stocks that have drawn the attention of regulators for volatile price movements, as investors track down equities that might gain from the hype around digital currencies.


In a statement issued by SEC on Tuesday, the regulator said it was worries regarding the accuracy and the sufficiency of the information in the markets regarding payments for promotion of the firm and plans by company insiders to auction shares.


The U.S. regulator added that questions have also been raised about potentially manipulative deals in the firm's stock in November 2017.


The company said it would be releasing a statement in reaction to the SEC suspension but declined to issue more comments. The regulator said its suspension would be in place until January 3.


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BoJ Keeps Monetary Policy Unchanged





The Bank of Japan kept its monetary stimulus unchanged as widely expected on Thursday.


Governor Haruhiko Kuroda and his board members decided by an 8-1 majority vote to hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion.


The bank will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent.


The board also decided to maintain the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.


With regard to the outlook, Japan's economy is likely to continue its moderate expansion.


The year-on-year rate of change in the CPI is likely to continue on an uptrend and increase toward 2 percent.


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Oil Prices Steady on Lower U.S. Crude Inventories





Oil prices were on a steady footing after posting solid gains late in the prior session on the back of a decline in U.S. crude stockpiles.


However, another increase in U.S. oil production, which is near to surpassing the 10 million barrels per day level, is limiting crude prices as it erodes efforts led by OPEC and other producers to tighten the market by withholding production this year and through 2018.


U.S. WTI crude futures stood at $58.05 per barrel, falling 3 cents from their last close. The international benchmark for oil prices, Brent crude futures, traded at $64.58 per barrel, falling by 8 cents. Both crude benchmarks edged up around 1 percent during the prior session.


According to traders, the drawdown in U.S. crude oil inventories were providing supporting the market. U.S. crude stockpiles declined by 6.5 million barrels in the week to December 15, according to the Energy Information Administration's report on Wednesday. Total crude stocks declined to 436 million barrels, its lowest level since October 2015.


The rebalancing of supply and demand is a result of OPEC and other participating countries' voluntary production cuts.


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PETROBRAS: Company To Invest US$ 60 Billion In Pre-salt By 2022





Brazilian state-owned oil company Petrobras is directing most of the investments in the area of oil production in the pre-salt layer, and by 2022 around US$ 60 billion in will be destined to the area, said Pedro Parente, Petrobras' chairman, during a press conference.


According to him, Brazil today is the leader in oil exploration in Latin America and the ninth largest producer in the world. The goal is to reach the seventh place in the next few years.


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US Treasury Yields Little Changed after Congress Passes Tax Bill







U.S. government debt yields were little changed on Thursday, as investors priced in the latest news coming from the U.S. economic sphere.


The yield on the benchmark 10-year Treasury note dropped to 2.486 percent, while the yield on the 30-year Treasury bond was lower at 2.84 percent. Bond yields move inversely to prices.


The yield curve continued to flatten, with the 3-year Treasury note yield approaching two percent.


A major obstacle surrounding overhauling the U.S. tax code was conquered after House Republicans voted to approve tax reform, consequently meaning that the legislation can be sent to President Donald


Trump's desk for a signature by Christmas.


This follows after Republicans had to fix the bill, as a result of violations concerning the Byrd rule.


The overhaul is anticipated to become law for next year, with the bill set to reduce corporation tax rates while temporarily trimming the tax burden for the majority of people.


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Japan Housing Starts Fall Less Than Expected In November





Japan's housing starts declined at a slower-than-expected pace in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Wednesday.


Housing starts fell 0.4 percent year-on-year in November, much slower than October's 4.8 percent decrease.


That was also below the 2.6 percent drop economists had forecast. Moreover, it was the fifth successive monthly fall.


Annualized housing starts climbed to 951,000 from 933,000 in the previous month. It was forecast to rise to 934,000.


Data also showed that construction orders received by big 50 contractors surged 20.5 percent yearly in November, following a 6.7 percent increase in October.


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COLOMBIA: Hass Avocado Exports To The U.S. Are On Track, Producers Say





Colombian exports of Hass avocado to the United States are still ongoing, according to a work plan signed by CorpoHass and U.S. sanitation authorities.


The Colombian Agricultural Institute is moving forward with a program to eradicate pests from Hass avocados in 21 municipalities from seven Colombian states and, in January, the country should export the fruits from the Antioquia state.


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US Treasury Yields Drop as Consumer Morale Declines





U.S. government debt yields fell on Wednesday, after consumer morale dropped in December while the yield curve continued to flatten.


The yield on the benchmark 10-year Treasury note slipped to 2.423 percent, while the yield on the 30-year Treasury bond was lower at 2.753 percent. Bond yields move inversely to prices.


Consumer confidence declined in December, down from 17-year highs in November. The Conference Board's measure of consumer confidence dropped to 122.1 in December.


The Treasury Department auctioned $34 billion in 5-year notes at a high yield of 2.245 percent. The bid-to-cover ratio, an indicator of demand, was 2.36.


Indirect bidders, which include major central banks, were awarded 58.4 percent. Direct bidders, which includes domestic money managers, bought 7.9 percent.


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South Korea Inflation Gains 0.3% In December





Consumer prices in South Korea were up 0.3 percent on month in December, Statistics Korea said on Friday.


That follows the 0.7 percent monthly decline in November.


On a yearly basis, inflation advanced 1.5 percent - up from 1.3 percent in the previous month.


Core CPI, which excludes food prices, gained 0.2 percent on month and 1.5 percent on year in December after slipping 0.3 percent on month and rising 1.4 percent on year a month earlier.


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