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...Earlier in the day, the yen had fallen past ¥160 against the dollar, as the gulf between Japanese and US interest rates continued to pressure the currency....
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...Wage growth for job changers accelerated from 7.6 per cent in February to 10 per cent in March, which could cause trouble for policymakers trying to tame inflation....
...Most of the nearly $500bn increase in assets under management in the first quarter was due to rising equity markets. In the US, the S&P 500 had its best first quarter since 2019....
...Could a company trading at 10 times its revenues suddenly start trading at 20 times its revenues? Unlikely....
...The greenback rose 0.4 per cent against a basket of six peer currencies. Yields on benchmark 10-year Treasuries rose 0.05 percentage points to 4.67 per cent, reflecting falling prices....
...The shift in sentiment helped push the spread — or gap — between benchmark 10-year US and German government borrowing costs to 2.17 percentage points, its highest level since 2019....
...That optimism has been fuelled by bitcoin’s 121 per cent rise in the past six months as US regulators approved stock market funds that invest directly in bitcoin....
...Meanwhile, the US Securities and Exchange Commission has just won ground in a suit against Coinbase....
...“We’ve had five currencies over the past 10 years,” said Masimba Manyanya, a former chief economist in the finance ministry. “It reflects confusion within government itself.”...
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...Register here for free to watch live on May 8 at 13:00-14:00 BST....
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...There are other ways in which that period chimes with today. In 1971 when Richard Nixon, then president, took the US off the gold standard, he also imposed a 10 per cent tariff on imports....
...Paxful, the US-based P2P marketplace named in the Intercept article, allows crypto sellers to accept as currency up to 133 brands of gift card....
...As analysts from Deutsche Bank noted, the new spot bitcoin ETFs have attracted nearly $8bn in funds since US regulators approved them on January 10....
...Claims worth more than $1mn traded at 10 cents on the dollar in November 2022 but now trade at about 90 cents on the dollar....
...Fittings it all in An example expensive item we found on Arhaus’s website is the 108” Almeria Dining Table, a $14,699, uh, dining table currently retailing at $10,299.00....
...The price has surged since US regulators in January approved spot bitcoin exchange traded funds issued by Wall Street stalwarts including Fidelity and BlackRock, the world’s largest asset manager....
...US government debt markets were similarly calm, with the yield on benchmark 10-year Treasuries dipping 0.02 percentage points to 4.00 per cent....
...The local energy commission estimated that Plattsburgh’s crypto miners contributed to an increase of nearly $10 to consumers’ monthly electricity bills in January 2018 alone....
...Then it drops away fast in terms of size. However, I am pleased to see the presence of two Indian companies — Reliance and Infosys — in the top 10....
...“We don’t know where this sector will be in five or 10 years.”...
...Crypto trading platform Coinbase blamed traffic that was 10 times normal for disruptions to some users, including displays of a zero balance in their accounts....
...Yields on benchmark 10-year US Treasuries fell 0.04 percentage points to 4.58 per cent, reflecting rising prices....
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