WTI Oil Falls Below $70 a Barrel First Time Since Late 2021
West Texas Intermediate crude fell below $70 a barrel in New York for the first time since late 2021 as investors remain on edge after last week’s bank failures.
Bloomberg Business
Traders in China’s $21 Trillion Bond Market Turn to WeChat After Some Price Feeds Halted
An abrupt suspension of widely used bond price feeds in China blindsided investors and sent volumes in some corners of the market tumbling, reviving concern about sudden regulatory shifts in a country that makes up a growing portion of global fixed-income portfolios.
Slowing Inflation Eases Pressure on Ghana to Hike Interest Rates
Ghana’s inflation rate fell for a second consecutive month in February as almost two months of relative stability in the currency and a slump in global oil prices helped contain food costs.
Credit Suisse Default Swaps Are 18 Times UBS, 9 Times Deutsche Bank
The cost of insuring the bonds of Credit Suisse Group AG against default in the near-term is approaching a rarely-seen level that typically signals serious investor concerns.
Global Bonds Surge as Credit Suisse Woes Renew Hunt for Havens
Bonds rallied, reversing earlier declines, and traders pared wagers on higher interest rates as fears grew that turmoil in the US banking sector could spread to Europe.
US 30-Year Mortgage Rates Retreat for First Time in Five Weeks
US mortgage rates declined for the first time in five weeks, helping propel a measure of home-purchase applications to the highest in a month.
BlackRock’s Fink Says SVB Failure Shows Cracks in Finance System
BlackRock Inc. Chief Executive Officer Larry Fink said the banking crisis could worsen beyond the failure of Silicon Valley Bank, worrying aloud about cracks in the financial system that formed during more than a decade of easy money and low interest rates.
Apple’s iPhone Maker has $100 Million of ‘Indirect Exposure’ to SVB Fallout
Apple Inc.’s main iPhone-making partner has indirect exposure to Silicon Valley Bank’s meltdown of about $100 million, joining the ranks of finance and tech firms shaken by the startup linchpin’s failure.
New Saudi Airline Eyes More Planes After Mega Boeing Order
Saudi Arabia’s new national carrier will “move with real pace” to expand into a major airline as the oil-rich kingdom seeks to improve connectivity to the rest of the world, Chief Executive Officer Tony Douglas said a day after the country placed a $37 billion order for widebody aircraft with Boeing Co.
Kishida Says Wage Gains Most Important Part of ‘New Capitalism’
Japanese Prime Minister Fumio Kishida emphasized Wednesday the central importance of wage gains for his agenda of tweaking the way businesses and the economy operate to ensure a fairer distribution of income and stronger growth.
