Hints and tips:
...President Recep Tayyip Erdoğan was re-elected in May and surprised many economists and investors when he shifted away from the unorthodox policies that had sent the lira tumbling and left the central bank...
...A window into where you work This week we’re featuring the aesthetically appealing office of Ernesto Lugo from Miami, Florida — who also shares some recommendations to upgrade your work gear....
...Ernesto Araújo, the country’s top diplomat, offered to quit on Monday, according to local media, following calls from lawmakers unhappy with Brazil’s efforts to acquire coronavirus vaccines....
...Turkey devalued the lira in early 2001. Argentina’s currency peg proved untenable and the peso collapsed in early 2002....
...The lira rallied 2.8 per cent against the US dollar to TL5.64 — the strongest level since early April....
...its foreign currency reserves with billions of dollars of short-term borrowed money, with analysts and investors fearing the country is overstating its ability to defend itself in the event of a fresh lira...
...Simon Quijano-Evans at L&G Investor Management says it is hardly surprising that EM forex is again under pressure, led by the Turkish lira and the South African rand....
...Ultimately, Mr Peltz received 972.77m votes, almost 50 per cent of shares voted, compared with 973.26m for Ernesto Zedillo, the former Mexican president, who had the lowest total of the existing board members...
...The lira has fallen by more than a third since the start of the year, and tumbled by a fifth last week alone....
...Read more Turkish lira jumps as central bank raises rates For market updates and comment follow us on Twitter @FTMarkets...
...P&G released its own statement acknowledging that Mr Peltz “is leading” Ernesto Zedillo, a former president of Mexico, by a margin of 0.0016 per cent of shares outstanding, or 42,780 shares....
...Mr Peltz is urging P&G shareholders to vote for him over an existing board member, Ernesto Zedillo, the former president of Mexico....
...In comparison the next lowest candidate, director Ernesto Zedillo, was appointed to the board with 979m votes, or 48.9 per cent....
...This was 0.3 percentage points less than the 979m shares cast for Ernesto Zedillo, the former Mexican president, the last person elected to the 11-member board....
...World Bank’s expanding remit sparks debate Che Guevara remembered Bolivian president Evo Morales and relatives of Ernesto “Che” Guevara will attend an event organised by the Bolivian government to commemorate...
...“Supportive factors include a very slow Fed tightening cycle, near-term stability in Chinese growth, falling volatility, and solid EM fundamentals (e.g. growth momentum, external positions, and real yields...
...P&G released its own statement acknowledging that Peltz “is leading” Ernesto Zedillo, a former president of Mexico, by a margin of 0.0016 per cent of shares outstanding, or 42,780 shares....
...This was compounded by negative currency effects on the back of a depreciating greenback, Turkish lira and Russian rouble....
...The Turkish lira was 0.9 per cent firmer at 3.6687 per dollar as investors continued to ponder the implication of the recent referendum to grant president Erdogan more powers....
...The greenback surged higher against of all its G-10 peers, with the DXY dollar index climbing 0.6 per cent to 101.62 – its highest level since April 2003....
...Major currencies including Russia’s rouble, South Africa’s rand and Turkey’s lira have weakened against the dollar and average EM country borrowing rates are at a month-high....
...“The ECB is prioritising yield curve steepeners,” said Lena Komileva at G+ Economics....
...volatility and currency risk in international portfolios,’’ says Lena Komileva at G+ Economics....
...“Sometimes it’s hard to disentangle [the factors],” says Claudia Calich, emerging market debt manager at M&G Investments....
...Anthony Doyle, head of fixed-income investment specialists at M&G Investments, said that in the short term European investors would look elsewhere in their hunt for returns....
International Edition