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Column-Ukraine crisis re-focuses world investment themes: McGeever

1 Mar 2022

By Jamie McGeever ORLANDO, Fla. (Reuters) – “A major geopolitical realignment is taking place,” which, like 9/11, “shapes major governments’ foreign and military policies unpredictably for years to come.” So wrote Citi’s market strategy team at the weekend in response to the unprecedented financial sanctions imposed on Moscow by many nations – and some remarkable …

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Yellen tells EU’s Dombrovskis ‘further strong measures’ needed on Russia -Treasury

1 Mar 2022

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday told European Commission Executive Vice President Valdis Dombrovskis that cooperation was needed on “further strong measures” in response to Russia’s invasion of Ukraine after unprecedented sanctions, the U.S. Treasury said. “Secretary Yellen affirmed the United States’ support for Ukraine’s sovereignty, working together with our partners …

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U.S. has not sanctioned Russian oil but traders are avoiding it

1 Mar 2022

By Jarrett Renshaw and Laura Sanicola WASHINGTON (Reuters) – U.S. traders in the nation’s largest oil hubs have cautiously put imports from Russian companies on hold, even though the White House has said oil sales are not the target of sanctions. The response from traders means sanctions have become more disruptive than expected for energy …

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Analysis-Getting rid of Russian assets a big problem for U.S. fund managers

1 Mar 2022

By John McCrank and Davide Barbuscia NEW YORK (Reuters) – U.S. investors holding Russian assets are finding themselves in an increasingly difficult position on working out how to ditch them. The United States, Britain, Europe and Canada announced new sanctions on Saturday – including blocking certain banks’ access to the SWIFT international payment system – …

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Analysis-Ukraine war won’t deter Fed and Co. from March rate hikes

1 Mar 2022

By Dhara Ranasinghe, Sujata Rao and Saikat Chatterjee LONDON (Reuters) – The U.S. Federal Reserve and some of its major central banking peers will press ahead with lifting interest rates this month, money markets suggest, even as a war on Europe’s eastern flank complicates the picture for inflation and economic growth. The situation is fluid, …

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Euro drops to lowest since June 2020 as Russia’s invasion of Ukraine moves forward

1 Mar 2022

By Caroline Valetkevitch NEW YORK (Reuters) – The euro hit its lowest against the U.S. dollar since June 2020 on Tuesday and the Russian rouble was down in volatile trading as Russia’s invasion into Ukraine intensified and oil prices surged. The U.S. dollar index, which measures the greenback against a basket of currencies, jumped and …

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Global factory activity strong in Feb but Ukraine crisis clouds outlook

1 Mar 2022

By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) – Factories around the world sustained a brisk recovery in February amid signs the Omicron coronavirus variant was having less of an impact, but the Ukraine crisis has rapidly emerged as a risk to supply chains and is likely to exacerbate cost pressures. Strong international sanctions against …

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Russian manufacturing shrinks in Feb as new orders fall – PMI

1 Mar 2022

(Reuters) – Russian manufacturing activity shrank in February as new orders fell for the first time in six months as businesses felt the impact of the COVID-19 pandemic, a survey showed on Tuesday. The Markit Purchasing Managers’ Index (PMI) fell to 48.6 in February from 51.8 in the previous month, slipping below the 50.0 mark …

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Russian oil tanker hit by U.S. sanctions heading to Malaysia

1 Mar 2022

By Rozanna Latiff KUALA LUMPUR (Reuters) -A Russian-flagged ship targeted by U.S. sanctions and suspected of carrying Iranian oil is heading to Malaysia, shipping data showed on Monday, amid growing scrutiny of businesses linked to Moscow following the invasion of Ukraine. The Linda, a crude oil tanker identified in a U.S. Treasury document detailing sanctions …

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China warns of ‘huge’ pressure on foreign trade as economic challenges mount

1 Mar 2022

BEIJING (Reuters) -A top Chinese official warned on Tuesday that China’s economy faces multiple challenges at home and abroad this year, including “huge” pressure from uncertainty over global trade and from still-lacklustre domestic consumption. Foreign trade, which helped drive the world’s second-largest economy last year, will be confronted by uncertain external demand and a high …

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