By Stephen Culp NEW YORK (Reuters) – Wall Street ended in negative territory on Tuesday as growing signs of recession kept buyers out of the equities market ahead of inflation data. While all three major U.S. stock indexes seesawed between modest gains and losses earlier in the session, they turned sharply lower late in the …
Wall Street tumbles at close as worries mount ahead of CPI report Read More »
BERLIN (Reuters) – German investor sentiment fell sharply in July, weighed down by major concerns about Germany’s energy supply, pandemic-related lockdowns in China and the ECB’s announced interest rake hike. The ZEW economic research institute said its economic sentiment index fell to -53.8 points from -28.0 in June. A Reuters poll had pointed to a …
SANTIAGO (Reuters) – Chile’s government on Monday announced a $1.2 billion economic aid plan that includes bonuses and labor subsidies as the Andean nation struggles with surging inflation and an economic slowdown following a post-pandemic recovery. President Gabriel Boric, alongside Finance Minister Mario Marcel, said the plan includes a one-time $120 payment that would reach …
Chile announces $1.2 billion aid plan amid surging inflation Read More »
QUITO (Reuters) – Ecuador is holding firm to its fiscal deficit target for the year of 2% of gross domestic product (GDP), economy minister Pablo Arosemena said on Monday, despite losses to oil income caused by weeks of protests by indigenous groups. Protests in the country erupted on June 13 and ran for more than …
Ecuador affirms deficit target of 2% of GDP despite protests -minister Read More »
FRANKFURT (Reuters) – The European Central Bank should model its upcoming bond-buying scheme, aimed at capping borrowing costs for Italy and other indebted countries, on the one it announced during the debt crisis, ECB policymaker Joachim Nagel said on Monday. “Design should be based on the experience of the OMT (Outright Monetary Transactions) programme,” Nagel …
ECB should model new bond scheme on old one, Nagel says Read More »
By Jamie McGeever ORLANDO, Fla. (Reuters) – Hedge funds had a torrid second quarter, but their faith in the dollar paid off spectacularly. Industry data provider HFR’s Currency Index, part of the broader Macro (Total) Index, rose 1.76% in June, the biggest monthly rise since March 2020, which brought the April-June increase up to 5.70%. …
Column-King dollar delivers hedge funds’ best FX quarter since 2017: McGeever Read More »
(Reuters) – The dollar’s 12% year-to-date rise has raised global concern, and will surely be debated when G20 policymakers meet on July 15-16. All the more so, if it vaults to parity against the euro for the first time in 20 years. British politics, Chinese lockdowns, U.S. banks’ results and central bank hawks also bear …
By Patturaja Murugaboopathy (Reuters) – Asian companies are likely to find it harder to refinance dollar-denominated debt, the decline in a key metric suggests, with the currency at a two-decade high and a recent surge in inflation forcing central banks to raise interest rates. The interest coverage ratio of these companies – a measure of …
Asian firms may struggle to refinance dollar debt, ratio suggests Read More »
A look at the day ahead in markets from Dhara Ranasinghe. The biggest single pipeline carrying Russian gas to Germany starts annual maintenance on Monday with flows expected to stop for ten days. Markets fear the shutdown might be extended due to the war in Ukraine, raising recession risks for Europe. Any extension in the …
Marketmind: Watch the euro, it’s heading for parity Read More »
TOKYO (Reuters) – The Bank of Japan raised its economic assessment for seven of the country’s nine regions on Monday, saying most areas were seeing damage from the COVID-19 pandemic subside. “Most regions are seeing their economies pick up moderately as the pandemic’s impact on consumption eases,” the BOJ said in a quarterly report analysing …
BOJ upgrades view on most regional Japan areas as pandemic impact fades Read More »
