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[Yahoo/Bloomberg] Pound and UK Bonds Rally; Stocks Advance: Markets Wrap [Yahoo/Bloomberg] China Stocks Pare Losses as Traders Assess Xi’s Policy Signals [Reuters] Oil steady as recession fears counter positive Chinese signals [Yahoo/Bloomberg] Hunt Drops What’s Left of Truss Plan to Save UK Credibility [Reuters] UK’s Hunt says he will raise 32 bln pounds more in […]
[Yahoo/Bloomberg] Truss Faces Market Judgment as BOE Exit Leaves UK Exposed [Reuters] UK finance minister Hunt vows to win back financial market trust [Reuters] Biden will act ‘methodically’ in re-evaluating U.S.-Saudi relationship, Sullivan says [Reuters] China’s Xi talks up security, reiterates COVID stance as congress opens [CNBC] Xi warns against foreign interference in Taiwan, says […]
Is Our Currency System Facing a “Total Catastrophe”? This week, HAI is being composed on the shores of the Mississippi in the great city of New Orleans, Louisiana. This author is attending the famed New Orleans Investment Conference, and so far the event has been spectacular. Market action over the week, however, I would describe […]
[Reuters] As UK’s Truss fights for her job, new finance minister warns of tough decisions [Reuters] BoE’s Bailey says stronger rates response needed to fight inflation [Yahoo/Bloomberg] Ukraine Latest: Russia Hits Energy Infrastructure in Kyiv Region [AP] New UK Treasury chief: Mistakes were made, tax rises coming [Yahoo/Bloomberg] Hunt Warns UK Faces Tax Rises in […]
It would have been a nonevent; inconsequential. Confirming New Cycle Dynamics, the Truss government’s “mini budget” has unleashed absolute mayhem. Pension funds blowing up. Emergency central bank rescue operations. Global market instability. UK’s Treasury Secretary sacrificed after a mere 38 days, while an entire government hangs in the balance. Friday evening Financial Times headlines: “Gilts […]
[Yahoo/Bloomberg] Equities Higher as Earnings Roll In: Markets Wrap [Yahoo/Bloomberg] Oil Heads for Weekly Decline on Recession Risk and China Demand [Reuters] UK’s Truss fires finance minister Kwarteng [Yahoo/Bloomberg] Bailey’s Gamble Pays Off, for Now, as Kwarteng Rushes Back to UK [Yahoo/Bloomberg] Japan Keeps Up Yen Warnings, Declines to Say If Intervened [AP] Retail sales […]
