Federal Reserve ‘absolutely’ ready to help stabilise market if needed, top official says
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Federal Reserve “would absolutely be prepared” to deploy its firepower to stabilise financial markets should conditions become disorderly, according to one of the central bank’s top officials. Susan Collins, head of the Boston Fed, … Read more
Treasury yields soar as bond rout intensifies
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Treasury yields soared to their highest level since February on Friday, as traders complained liquidity was worsening amid a deepening rout in the $29tn US government bond market. The 10-year Treasury yield climbed … Read more
Nationalisation is no spectre haunting British manufacturing
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a senior lecturer in economic and social history at Glasgow university. His latest book is ‘Coal Country’ The future of the UK’s last blast furnaces at Scunthorpe steelworks hangs in the balance. … Read more
Angola hit with $200mn JPMorgan margin call as African bonds tumble
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Angola injected nearly $200mn to shore up a $1bn loan from JPMorgan that was backed by the country’s bonds, after the dollar debts of the oil-producing African nation tumbled with crude prices in the recent … Read more
BP shareholders to vote against chair re-election in protest over oil and gas pivot
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Legal and General is one of several shareholders planning to vote against the re-election of BP’s outgoing chair at its annual general meeting on Thursday, in a sign of growing discontent over the oil major’s … Read more
Donald Trump has added a political risk premium to US assets
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world This week, we witnessed “the greatest economic master strategy from an American President in history”, according to Stephen Miller, adviser to Donald Trump. The US president’s U-turn from most of his aggressive trade … Read more
BlackRock inflows slow as market sell-off hits confidence
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The world’s largest asset manager BlackRock has reported a slowdown in inflows after two record quarters, as the sell-off in financial markets weighed on investor confidence. The New York-headquartered group said it attracted $84bn in … Read more
Are equities ‘always’ better in the long term?
Two weeks on from the Spring Statement and Rachel Reeves’ declared ambition to “boost the culture of retail investment” in the UK looks spectacularly badly timed. The US president’s quixotic tariff announcements caused big losses for investors, with UK, US and global equity markets plunging, before whipsawing back after Trump announced a 90-day pause on … Read more
The optimal way to bail out breaking Treasury basis trades
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A few weeks ago, an interesting paper was presented at a Brookings conference. We didn’t get around to writing about it then, but it turns out that it was both fascinating and SUPER timely. Here … Read more