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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British Steel is preparing to idle one of its two blast furnaces as early as next week to preserve critical raw materials as crunch talks with UK ministers to stave off a collapse are set … Read more
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Brent crude dipped below $60 per barrel for the first time in four years as Donald Trump’s sweeping global import tariffs went into effect and his trade war with China escalated. The price … Read more
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The cost of insuring the debt of Europe’s riskiest companies against default has soared to the highest levels in 18 months as investor alarm rises in response to Donald Trump’s tariffs. The spread … Read more
There’s a lot going on in the Treasury market right now, and none of it is good. Liberation Day seems to have morphed into Liquidation Day. You might have seen terms like “off the runs”, “basis trades”, “swap spreads” and “omg are we going to die” bandied about over the past few days (including here … Read more
The far side of the moon — the part that always faces away from Earth — is mysteriously distinct from the near side. It is pockmarked with more craters and has a thicker crust and less maria, or plains where lava once formed. Now, scientists say that difference could be more than skin deep. Using … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As stock markets crashed amid the trade war, Scott Bessent, US Treasury secretary, tried to soothe frazzled investor nerves last weekend. “Most Americans in a 401(k) [retirement plan] have what’s called a 60/40 account . . . they are … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. I wasn’t running Asia ex-Japan funds in 1997, so I won’t count the Asia crisis that spanked economies and markets in the region and left many of my colleagues without a job. So by my … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Life comes at you fast. From this morning’s Bank of England Financial Policy Committee report: US equities and the value of the US dollar had declined in Q1 as some investors reduced US dollar asset … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s long-term borrowing costs soared to their highest level in 27 years on Wednesday, as gilts were swept up in a global bond sell-off sparked by Donald Trump’s trade war. Yields on 30-year gilts … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Futures indicate that the US stock market could suffer another iffy day when trading resumes, putting it perilously close to bear market territory. Goldman Sachs’ chief global equity strategist Peter Oppenheimer has therefore updated his … Read more