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...The euro and sterling fell to their weakest levels against the dollar since November on Friday at $1.0642 and $1.245, respectively, while the yen sank to a 34-year low, before recovering to ¥153.28....
...Also moving on Tuesday morning was the benchmark 10-year Treasury yield, which rose to a peak of 4.4 per cent, its highest level since November....
...Inès Cross The Standard, London, until 22 June SEE Mary Lovelace O’Neal at Marianne Boesky After a 60-year career, Mary Lovelace O’Neal shows no signs of slowing down....
...On Friday the S&P gained 1.1 per cent following the jobs figures, having fallen earlier in the week....
...1.4 per cent for Germany....
...Benchmark 10-year UK government bonds currently yield 4.1 per cent, having remained below 2 per cent between 2016 and 2022 before the Bank of England was forced to dramatically increase interest rates to...
...Eurozone inflation has fallen from a 2022 peak of 10.6 per cent to 2.4 per cent in March — tantalisingly close to the central bank’s goal....
...The so-called spread, or gap, between 10-year borrowing costs in Italy and Germany sank to 1.16 percentage points on Thursday, its lowest level since November 2021, before rising back to 1.28 percentage...
...Benchmark 10-year borrowing costs have risen to 4.2 per cent from 4 per cent in March and 3.6 per cent at the start of the year....
...The yield on benchmark 10-year US Treasuries was down 0.1 percentage point at 3.96 per cent, while the yield on interest rate sensitive two-year Treasuries fell 0.13 percentage points to 4.23 per cent....
...Capital Economics forecasts the 10 year gilt yield will fall from its current level of 3.93 per cent to 3.25 per cent by the end of the year....
...The forint has been among the 10 worst, down 3.9 per cent....
...Traders are pricing 1.04 percentage points of cuts in 2024, down from 1.24 percentage points earlier on Wednesday....
...The federal deficit stood at $1.7tn last year....
...Economists have warned Hunt’s current plans for a 1 per cent annual real terms increase in public spending until 2029 are a “fiction”, as they would imply serious cuts to some stretched public services....
...The dovish comments sent benchmark German Bund yields down 0.1 percentage points to 2.24 per cent, the lowest level since early June, and yields on 10-year Italian debt 0.11 percentage points lower to 4.00...
...Benchmark 10-year gilt yields were down 0.04 percentage points on the day at 4.07 per cent. Sterling edged down 0.1 per cent to $1.2528....
...Interest rate sensitive two-year gilt yields fell 0.1 percentage points to 4.49 per cent, while benchmark 10-year gilt yields also dropped 0.1 percentage point, to 3.98 per cent....
...Still, despite the sharp slowing of inflation from peaks of 9.1 per cent in the US and 10.6 in the eurozone in 2022, it remains a threat to investment portfolios....
...US consumer prices rose 3.1 per cent in the year to November, compared with 9.1 per cent in the 12 months to June 2022....
...First, executive pay is a key driver of the anti-capital campaign because bankers’ bonuses are based on return on equity (ROE) which goes higher as equity goes lower....
...Markets are pricing in 1.3 percentage points of ECB cuts this year....
...Yields on 10-year Italian debt fell 0.09 percentage points to 4.02 per cent....
...Yields on 10-year Italian debt fell 0.08 percentage points to 3.73 per cent, while French government bond yields fell 0.1 percentage points to 2.56 per cent....
...However, the BoJ is widely expected to keep interest rates at minus 0.1 per cent next week at its final monetary policy meeting of the year....
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