ECO

Wall Street slides in broad-based selloff on recession worries

Meta drops on report of EU concern over targeted ads Indexes down: Dow 0.92%, S&P 1.26%, Nasdaq 1.63% Dec 6 (Reuters) – Wall Street’s main indexes slid on Tuesday, led by declines in Meta Platforms and other technology stocks as investors worried about a longer rate-hike cycle despite warnings of a potential recession next year. …

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Wall St falls after strong service-sector data feeds hawkish Fed fears

US service sector activity picks up in November Tesla slides on reports of production cut in China Indexes down: Dow 0.70%, S&P 0.98%, Nasdaq 1.12% Dec 5 (Reuters) – Wall Street’s main indexes fell on Monday after better-than expected service-sector activity added to jitters that the US Federal Reserve might continue on its aggressive policy …

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Asia shares bank on eventual China opening; oil earnings

https://tmsnrt.rs/2zpUAr4 China shares push higher, dollar slips More Chinese cities ease coronavirus controls Cap on Russia oil comes into effect, impact uncertain SYDNEY, Dec 5 (Reuters) – Asian shares extended their rally on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, …

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Canada’s deep yield curve inversion adds to BoC rate hike dilemma

TORONTO, Dec 4 (Reuters) – As the Bank of Canada considers ditching oversized interest rate hikes, it is dealing with an economy likely more overheated than previously thought but also the bond market’s clearest signal yet that recession and lower inflation lie ahead. Canada’s central bank says that the economy needs to slow from overheated …

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Bank of England’s Dhingra warns of deeper and longer recession with higher rates

LONDON, Dec 3 (Reuters) – Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs that demands for higher wages risked a wage- price spiral. While most of her colleagues backed a 75 basis-point hike …

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NY Fed paper ties reverse repo surge to bank regulation change

Dec 2 (Reuters) – Persistently massive inflows of cash into a key Federal Reserve facility are in large part being driven by a bank liquidity regulation change from last year, a report from the New York Fed said Friday. The Fed’s facility offers what are called reverse repos, which allow eligible firms to park cash …

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Urals oil discount widens as freight rates for Russian oil jump – traders, Reuters calculations

MOSCOW, Dec 2 (Reuters) – Russian Urals oil’s discount to dated Brent have widened significantly, under pressure from record high freight rates for tankers carrying Russian oil and sending sellers’ revenues well below an agreed EU price cap, two traders said on Friday and Reuters calculations showed. EU governments on Friday agreed to a price …

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As the Fed plans to ‘raise and hold,’ new projections may show the cost

WASHINGTON, Dec 2 (Reuters) – New US Federal Reserve projections, issued later this month alongside an expected half-point interest rate increase, could show the central bank’s target rate headed toward levels last seen on the eve of the 2007 financial crisis, and will also reveal policymakers’ best guess of the fallout that will have for …

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World Bank chief says poorest countries owe $62 bln on bilateral debt

WASHINGTON, Dec 1 (Reuters) – The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday, warning that the increased burden is increasing the risk of defaults. Malpass told the Reuters NEXT conference in …

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