Analysis: UK bond market crash takes shine off Big Bang plans for London

LONDON, Oct 4 (Reuters) – Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her “Big Bang” plan for financial services. Markets took fright last month when UK finance minister Kwasi Kwarteng unveiled plans to … Read more

Exclusive: UK gilt market resilient despite ‘major repricing’ – debt office head

LONDON, Oct 4 (Reuters) – Britain’s bond market is undergoing “a major repricing”, but should comfortably absorb the extra 62 billion pounds ($69 billion) of debt announced after finance minister Kwasi Kwarteng’s Sept. 23 mini-budget, the head of the UK Debt Management Office (DMO) said on Monday. Robert Stheeman – the man tasked with overseeing … Read more

Morning Bid: A market sweet spot?

Oct 4 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Whisper it, but markets may be in something of a sweet spot right now, opening up the potential for a few weeks of respite and decent-sized rebounds. Ok, maybe a few days until the next crisis rears its head … Read more

Analysis: Under water: how the Bank of England threw markets a lifeline

Bank of England bought bonds after pension fund pleas Some UK pension funds faced problematic margin calls BoE support seen as giving window to build collateral British government’s unfunded tax plan spooked markets LONDON/NEW YORK, Oct 2 (Reuters) – Calls to the Bank of England saying some British pension funds were struggling to meet margin … Read more

US investors brace for more wild market gyrations after dizzying Q3

NEW YORK, Sept 30 (Reuters) – In a year of wild market swings, the third quarter of 2022 was a time when events took a truly extraordinary turn. As the Federal Reserve ratcheted up its monetary policy tightening to tame the worst inflation in decades, US Treasury yields shot to their highest levels in more … Read more

Scale of UK’s market slide spells out home truths

LONDON, Sept 29 (Reuters) – This week’s plunge in UK financial assets accelerated a longer historic decline signaling a loss of confidence among international investors that Britain may find hard to restore. Markets have been in turmoil since finance minister Kwasi Kwarteng outlined a new economic agenda last Friday. The pound fell to a record … Read more

Tech IPO market faces worst year since global financial crisis

Sept 29 (Reuters) – Initial public offerings by US tech companies have sunk to their lowest levels since the global financial crisis of 2008, as stock market volatility, soaring inflation, and interest rate hikes have soured investor sentiment towards new listings. According to Refinitiv data, only 14 tech companies have floated their shares on stock … Read more

EXCLUSIVE Grab sees no big layoffs despite weak market

A man walks past a Grab office in Singapore March 26, 2018. REUTERS/Edgar Su Register now for FREE unlimited access to Register SINGAPORE, Sept 25 (Reuters) – Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, does not envisage having to undertake mass layoffs as some rivals have done, and is selectively hiring, while … Read more

Analysis: Amid tense Brazil election, Petrobras emerges as surprise market darling

Register now for FREE unlimited access to Register RIO DE JANEIRO, Sept 22 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a … Read more

Column: Low global copper stocks jar with market’s downbeat mood

LONDON, Sept 21 (Reuters) – London Metal Exchange (LME) warehouses saw 11,200 tonnes of copper arrivals on Tuesday, the largest single-day warranting since June. Inflows have totaled over 35,000 tonnes so far this month but have been largely offset by departures. Headline stocks of 118,000 tonnes are up by only 3,625 tonnes at the end … Read more