1 Minute Market Rundown – 6th May 2022 May 6, 2022 Old Lady Signals a Pause to Come Crypto and Risk Assets Come Under PressureUSD Remains King; GBP Destroyed To understand the magnitude of the sell off yesterday here are some facts: ● The Nasdaq suffers its largest one day percentage drop since June 11, 2020 ● The DOW suffered its largest one day percentage drop [...]
HMRC receives record high £157bn from VAT bills after tax holiday ends May 6, 2022 HMRC collected a record £157.2bn from VAT bills in 2021/22, a 55 per cent increase on the £101bn collected the year before.
Putin ‘running out of missiles’ amid claims quarter of Russian Army now lost: Kremlin loses momentum in Donbas May 6, 2022 Vladimir Putin could be running out of missiles and armaments because of how much his forces have had to fire during the Ukraine war so far, according to the head of Britain’s Armed Forces. The Chief of Defence Staff, Admiral Sir Tony Radakin, said Russia has now lost 25 per cent of all its forces [...]
Investment giants batten down the hatches as inflation soars May 6, 2022 Investment giants are braced for rampant inflation and an extended period of rate hikes after the Bank of England warned yesterday the economy is at risk of sliding into recession this year.
Amazon takes legal action against new fake review broker as UK plans clamp down on firms May 6, 2022 Amazon has started legal action against Hong Kong based fake review broker Extreme Rebate after it successfully targeted the schemes of three major attackers, resulting in nearly 350,000 people no longer being incentivised by them.
A textbook crypto capitulation, or is Bitcoin getting dragged down by market contagion? May 6, 2022 The sudden capitulation of the crypto markets has taken analysts by surprise, and it may be some time before we figure out the true cause.
What a difference a day makes: Markets go into full reversal mode as recession concerns grow May 6, 2022 What a difference a day makes? Having rallied strongly in the aftermath of the Federal Reserve’s decision to hike rates by 50bps on Wednesday evening, and not go harder, US stock markets went into full reversal mode yesterday, dragging European markets down with them. Bond yields also shot back up, with the US 10 year [...]
Boris Johnson never left election mode to make sense of his patchwork of policies May 6, 2022 Boris Johnson was made for elections, he was built to shake hands and make people laugh - the guy you’d like to go for a beer with, is the oft-cited description of the Prime Minister. But since taking up office in 2019 with a storming majority, Johnson has stayed firmly in election-mode and never actually started governing.
Trade off between inflation and growth is now for the birds May 5, 2022 The trade off between taming inflation by hiking rates at the expense of growth now seems for the birds. The economy is headed for a tough time, most likely a recession, regardless of what the Bank of England does. The UK’s present conundrum is one of the best examples in modern history of just how [...]
Rail fares could soar by 12 per cent amid inflationary spikes May 5, 2022 Railway users could soon enough see the price of their tickets soar as a result of inflation spiking to 7 per cent and not showing any sign of easing. Economists argued fares could go up as high as 12 per cent from next year if the government doesn’t untie the increase in inflation rates and [...]