Central banks must front-load rate hikes to tame inflation, Carney warns June 15, 2022 The world’s biggest central banks need to dial up the pace of rate hikes to shake inflation out of their respective economies, the former chief of the Bank of England said today. Canadian banker Mark Carney, 57, who led Threadneedle Street from 2013 to 2020, told Bloomberg that monetary authorities “need to start moving more [...]
Q&A: Are we heading towards a commodity super-cycle? June 15, 2022 | City Talk Commodities have achieved strong price gains recently, prompting speculation that we could be in the early stages of a so-called super-cycle; a sustained period of growing demand exceeding supply. Global commodity prices have moved higher in the past few months, partly due to geopolitical issues such as Russia’s invasion of Ukraine. A mismatch of demand [...]
Population of High Net Worth Individuals in the UK grew to 609,400 in 2021 as wealth rose globally June 14, 2022 The number of people in the UK with investable assets of $1 million or more, called High Net Worth Individuals (HNWI), rose 6.3 per cent to 609,400 in 2021 as wealth increased globally. The 2022 World Wealth Report by Capgemini on Tuesday revealed that the global HNWI population grew 7.8 per cent in 2021, with [...]
London markets continue to drop but banks jump ahead of BoE rate rise June 14, 2022 London markets continued to slip today after Monday’s bruising session, but losses were tempered by the UK’s largest lenders jumping ahead of another expected rate hike from the Bank of England tomorrow. The capital’s premier FTSE 100 index fell 0.25 per cent to 7,187.82 points, while the domestically-focused, mid-cap FTSE 250 index, which is more [...]
US Federal Reserve to deliver 75 basis point rate rise tomorrow June 14, 2022 The US Federal Reserve will shock markets tomorrow by beginning a 75 basis point rate hike cycle in a bid to shake inflation out of the American economy. That’s according to top Wall Street analysts, who said last Friday’s inflation overshoot will force Fed chair Jerome Powell and rate setters to deliver a monetary policy [...]
1 Minute Market Rundown – 14th June 2022 June 14, 2022 | City Talk Celsius Insolvent?Risk ClatteredAll Eyes on Powell It was crypto that led the charge down both yesterday and over the weekend, with ETH at the vanguard. BTC had its worst single day performance in a year, while ETH slumped 18% over further concerns around its proposed merge. News on the day of Celsius’s insolvency exacerbated the [...]
Extremely successful? Extremely lucky! June 14, 2022 | City Talk People who are extremely successful in business or investing tend to think of themselves as more skilled and hard working than the average person. No doubt they are on some level, but the more extreme their success, the greater the role luck plays in achieving it. Luck is so critical to extreme success, in fact, [...]
Brits’ living standards drop at quickest pace in over a decade June 14, 2022 Brits’ living standards are falling at the fastest pace in over a decade caused by historically high inflation outstripping pay, reveals official figures published today. Take home pay, accounting for price rises, dropped 2.2 per cent over the three months to April, the steepest fall since 2011, according to the Office for National Statistics (ONS). [...]
Souring UK economic outlook sends London markets tumbling June 13, 2022 Fears that the UK economy is in the teeth of a sharp slowdown triggered a sector-wide sell-off on London markets today. The capital’s premier FTSE 100 index slid 1.53 per cent to 7,205.81 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.61 per [...]
Inflation and recession concoction sends global markets into the mire June 13, 2022 Mounting fears over the worst inflation crunch in recent history plunging the global economy into reverse sent the world’s biggest stock markets spiralling today. London’s FTSE 100 index slid 1.53 per cent, while the mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.61 per cent. Investors have [...]