All market eyes on the Fed today as interest rates are set to rise by another 75bps November 2, 2022 While European markets started the month on a positive note, and look set to continue that vibe this morning, US markets lost their early momentum, finishing the session lower, after the latest job openings numbers, and ISM manufacturing report, showed that the US economy remained in decent shape, despite concerns over an economic slowdown. “We [...]
All eyes on the EU as ECB faces ‘nightmare scenario’ of record inflation and need to hike rates again October 31, 2022 Last week was the fourth successive week of gains for equity markets in Europe as well as the US, despite some high-profile earnings misses. It’s been particularly notable that while there were some notable earnings misses, especially in the tech sector, by and large the more traditional areas of the market have performed better. “While [...]
Week ahead: Bank of England to rock markets with 75bps rate hike October 30, 2022 Markets are preparing for a steep rate hike by the Bank of England on Thursday, but not as bad as first feared after former prime minister Liz Truss’s tax cutting mini-budget last month. London’s premier FTSE 100 index posted a decent performance last week, adding 1.12 per cent to close at 7,047.67 points, while the [...]
Ex Fed official says Bank of England ‘contributed to the Truss govt’s demise’ October 28, 2022 A top former official with the US Federal Reserve has claimed the Bank of England ousted Liz Truss. Narayana Kocherlakota, the ex president of the Federal Reserve Bank of Minneapolis, made his comments in a piece for Bloomberg this week. This comes after Truss left office following weeks of chaos in UK financial markets sparked [...]
Fed pivot hopes fade after US economy returns to strong growth October 27, 2022 The US economy has surprisingly shaken off a series of steep rate rises, indicating the Federal Reserve’s campaign to tame historic high inflation is not over yet, new figures out today reveal. Gross domestic product (GDP) across the pond climbed 2.6 per cent last quarter, swinging from a 0.6 per cent contraction in the three [...]
ECB fires second successive jumbo rate hike in push to end Europe’s cheap money addiction October 27, 2022 The European Central Bank (ECB) today fired its second jumbo rate hike in a row in another sign that it is putting years of ultra-cheap money to the sword. The central bank that oversees the financial system of the 19 countries using the euro lifted borrowing costs 75 basis points to 1.5 per cent as [...]
Gold and silver show signs of recovery with Fed rate hikes expected to ease October 26, 2022 Gold and silver are rebounding amid growing expectations the Fed will ease its aggressive policy of hiking interest rates.
Backing the central bank pivot is a risky bet October 25, 2022 It is easy to criticise central banks for heaping pain on households and businesses. But, this is exactly what they are supposed to do under current economic conditions. Inflation in the UK, US and eurozone has hit 10.1 per cent, 8.2 per cent and 9.9 per cent respectively, all historic highs. The Bank of England [...]
Falling yields take edge off UK borrowing costs but City’s eyes are on Rishi Sunak October 25, 2022 The rebound seen over the course of the last couple of days appears to be being driven by a sharp fall in bond yields, at least in European markets with the sharp drop in UK gilt yields marking the unwind in premium that we saw in the aftermath of the market turmoil post the UK [...]
McIlroy says his golf is in ‘satisfying’ place as he returns to No1 October 25, 2022 Newly crowned world No1 Rory McIlroy has said he feels like his golf is in a “satisfying” place following his 23rd PGA Tour win on Sunday. The Northern Irishman spoke after he retained the CJ Cup title he won last year and following the latest success in a generally stellar year of golf. The 33-year-old’s [...]