Corporate Bonds Flip to Loss for Year With Fed More Hawkish
US investment-grade bonds have swung to a loss for the year as the Federal Reserve’s determination to raise interest rates to counter inflation spreads pain across debt markets.
Bloomberg Business
Goldman Says Turkey Is ‘Back in the Game’ With Lira Carry Trade
The lira carry trade is back as Turkey ramps up its campaign to bring inflation to heel, according to Goldman Sachs Group Inc.
John Lewis to Seek £150 Million From Sale of 12 Waitrose Stores
John Lewis Partnership Plc is planning to raise as much as £150 million ($183 million) from the sale and leaseback of a dozen Waitrose supermarkets as the struggling retailer seeks more capital, according to people familiar with the matter.
ECB’s Nagel Says More Rate Hikes May Be on Way If Data Warrant
The European Central Bank is prepared to raise interest rates further if inflation proves more stubborn than thought, Governing Council member Joachim Nagel told Central Banking in an interview.
Egypt Signs Local-Currency Swap Worth $1.4 Billion With UAE
Egypt signed a local-currency swap agreement worth around $1.4 billion with the United Arab Emirates, as the North African nation seeks ways to ease an economic crisis.
UBS Near Settlement in Credit Suisse $1.5 Billion Tuna Bond Case
UBS Group AG is closing in on a settlement with the government of Mozambique over Credit Suisse’s role in a ship-financing scandal in the African country to resolve the case and avoid the scrutiny of a 13-week long London trial.
Souring Global Office Bets Raise Risk of Korean Liquidity Crunch
Investors in few, if any, countries in the world have been burned as badly by the collapse in the commercial real estate market as those in South Korea. Its pension funds, insurance companies and asset managers all plowed billions of dollars into properties across the globe just before the pandemic drove down their value.
Russian Oil Is Trading Closer to $100 Than the G-7 Price Cap
Russian oil is continuing to rise, defying an increasingly redundant price cap put in place by the Group of Seven and its allies.
Germany, Israel Seal Jerusalem’s Biggest Defense Export Deal
Germany and Israel signed a formal commitment for Berlin’s purchase of the Arrow 3 air-defense system for about €4 billion ($4.2 billion), sealing the biggest military export deal in Israeli history.
Disney Snags Rock & Roll Hall of Fame Ceremony From HBO
Disney+ has become the new broadcast home for the Rock & Roll Hall of Fame show.
