Will the world economy avoid an inflationary bust? March 23, 2022 | City Talk Today’s high inflation is being compared to the 1970s. However, robust consumer spending, fuelled by pandemic savings, makes for a different set of circumstances. Memories of the 1970s were evoked as the price of Brent crude oil temporarily climbed above $139 a barrel in the wake of Russia’s invasion of Ukraine. That was a period [...]
What’s behind market volatility in China? March 23, 2022 | City Talk It’s been a rollercoaster week for Chinese stock markets. We explain why and get the views of Schroders’ experts Robin Parbrook, Maggie Zheng and David Rees. In the last week, equity markets in mainland China and Hong Kong Special Administrative Region have experienced a rout, and a subsequent rally in the past two days. At [...]
UK inflation climbs to more than triple Bank of England’s target March 23, 2022 UK inflation has soared to more than triple the Bank of England’s target, piling more pressure on the central bank to launch further rate hikes. Threadneedle Street is likely to pivot away from the dovish tone it set at its meeting last week after new figures published today by the Office for National Statistics (ONS) [...]
1 Minute Market Rundown – 23rd March 2022 March 23, 2022 | City Talk Russia – UkraineYields in focusCrypto consolidates A feeling of deja vu overnight as Australian, New Zealand and South Korean 10 year yields all hit fresh cyclical highs as the rates market continues to reprice. Interestingly enough, stock markets held on with the S&P even clearing its 200 DMA. It seems the hawkish rhetoric from Powell [...]
Highest since 2015: Russian inflation goes through the roof as level accelerates to 12.5 per cent March 23, 2022 It seems another headache is coming Vladimir Putin’s way as inflation in Russia has shot up to 12.5 per cent, the country’s highest level since 2015. Annual inflation in Russia accelerated to 12.5 per cent as of March 11, its highest since late 2015 and up from 10.4 per cent a week earlier, the economy [...]
UK ‘not protected from economic consequences’ of Russia sanctions, say MPs March 23, 2022 An influential Westminster committee has claimed the British economy is “not protected from the economic consequences” of western sanctions against Russian oil and gas, and that Rishi Sunak must bring forward help to the country’s lowest earners. A report from the Treasury Select Committee said the UK government was “right to insist” on wide-ranging sanctions [...]
Financials rally boosts London’s top indexes March 22, 2022 A rally among financial stocks boosted London’s top indexes this morning as the FTSE 100 closes in on its pre-Russian invasion of Ukraine high. The capital’s premier FTSE 100 index closed 0.46 per cent higher at 7,476.72 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, [...]
UK home to second most hedge funds, as US dominates rise of crypto strategies March 22, 2022 Britain is home to the second largest hedge fund market in the world, with more than 500 set up in the capital since 2019. The US leads the way with 67 per cent of the global share, with New York boasting almost 7,000. Data compiled for SigTech also shows London has 2,230, with nearly a [...]
Bosses at UK arm of Russian energy giant Gazprom seek to buy it out as insolvency looms March 22, 2022 Bosses at the UK arm of Russian energy giant Gazprom have made a bid to buy it out, as sanctions against its parent company threaten to make it insolvent. Manchester-based Gazprom Energy, which supplies more than a fifth of gas used by UK companies, has been left just days from needing a government bailout through [...]
British factories to launch fastest price hiking cycle on record March 22, 2022 British factories are preparing to launch the fastest price hiking cycle on record in a sign that inflation will surge even higher in the months ahead. A net balance of one in every eight UK manufacturers intend to raise prices, according to research by the Confederation of British Industry (CBI). Products produced by factories are [...]