LONDON—The dollar tiptoed higher for a 3rd consecutive day on Friday since a surprisingly strong U.S. inflation print shocked markets and prompted investors to advance their bets on a U.S rate hike to as early as mid-2022. With short-dated U.S. Treasury yields edging higher—five-year bond yields rose to a February 2020 high—investors ramped up bets…
Dollar Climbs for a 3rd Day as Short-End US Yields Rise
November 12, 2021
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European Shares Hit New Highs, Firm Dollar Dents Oil
November 12, 2021
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LONDON—European shares chalked up new highs on Friday as shock from unexpectedly strong U.S. inflation data earlier in the week eased, though investors kept a wary eye on rising yields as the dollar hit a 16-month high. The STOXX index of 600 companies was up 0.09 percent, enough to eke out a new record high…
World Shares Advance After Modest Gains on Wall Street
November 12, 2021
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Shares advanced in Europe and Asia on Friday after Wall Street benchmarks managed to close mostly higher. The latest round of mostly solid corporate earnings is winding down after helping markets rise for weeks, reaching a series of records. However, inflation concerns are rattling investors. Germany’s DAX gained 0.1 percent to 16,108.70, while the CAC…
GE Investors Hope Split Remedies Years of Lackluster Performance
November 12, 2021
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NEW YORK—With General Electric’s (GE.N) decision to break up into three separate companies, investors who have held the stock through a long, troubled period may be hoping the move will give the conglomerate’s underperforming shares a jolt. The 129-year-old industrial conglomerate announced on Tuesday it would split into three businesses focusing on aviation, energy and…
US Offers $184 Million to 158 Aviation Manufacturing Firms
November 11, 2021
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The U.S. Transportation Department will announce on Monday it is offering an additional $184 million in payroll assistance to 158 more aviation manufacturing businesses. In September, the department offered $482.3 million to 313 aviation manufacturing businesses. The new offers include $17.5 million to BAE Systems Controls and about $13 million to both Airbus’s U.S arm…
South Korea’s Debt Growth Projects Fastest Among Developed Countries, Citing Super Aging Population
November 11, 2021
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South Korea’s debt-to-GDP ratio is projected to grow at the fastest pace among the world’s 35 most advanced economies over the next five years, and its potential GDP growth rate from 2030 to 2060 is also projected to be the lowest among the 38 OECD member countries. According to the International Monetary Fund’s (IMF) latest…
Teetering Giant Evergrande Paid Some Overdue Interest, Some Say Received Nothing
November 11, 2021
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The world’s most indebted real estate developer made some overdue interest payments just before the Nov. 10 deadline, sources confirmed, while some say they received nothing. Cash-strapped Evergrande has rushed serval last-minute transfers since October, teetering on the brink of default. The Chinese property developer was supposed to make further overdue interest payments of $148…
Larry Summers Blasts ‘Woke Central Banking,’ Warns of Economic Stagnation and ‘Japanization’
November 11, 2021
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Former Treasury Secretary Larry Summers, who has repeatedly criticized loose central bank policies and has forcefully sounded the alarm on the upside risks of the current bout of inflation, has warned that global financial markets seem to be pricing in slow growth and low real interest rates for the next several years. “The stimulus that…
Your Money Is Now Losing Close to 1 Percent of Its Value Every 30 Days, According to Labor Bureau Data
The U.S. dollar is now losing close to 1 percent of its value every 30 days, according to U.S. Bureau of Labor Statistics data released on Wednesday. Currently, inflation of the U.S. dollar is at its highest level since 1990. The Consumer Price Index (CPI), a measure of the average monthly change in the price for…
Bond Market’s ‘Breakeven’ 5-Year Inflation Gauge Surges to Record High After Meteoric Rise of Consumer Prices
A key measure of the bond market’s expectations for upward price pressures over the next five years, known as the five-year breakeven inflation rate, surged to an all-time high of 3.113 percent on Nov. 10, shortly after government data was released showing consumer price inflation rising at its fastest annual rate in nearly 31 years. The…
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