Wall Street’s main indexes were subdued at the open on Tuesday after the Bank of Japan surprised global investors with a policy shift that would allow long-term interest rates to rise more. The Dow Jones Industrial Average fell 22.30 points, or 0.07 percent, at the open to 32,735.24. The S&P 500 opened lower by 7.19…
Remove the Axis of Evil from the UN, World Bank, WTO, and the IMF?
Commentary During World War II, the Axis powers—Nazi Germany, Fascist Italy, and Imperial Japan—took on the free world with impunity. Arrayed against them were the Allies—the United States, the British Empire, and most of the Western world. With Russia’s invasion of Ukraine, the world again is squaring off in a struggle of good and evil….
Yen Soars to 4-month High After Surprise BOJ Policy Tweak
LONDON—The yen surged to a four-month peak against the dollar on Tuesday after the Bank of Japan stunned markets by deciding to review its yield curve control policy and widen the trading band for the 10-year government bond yield. While it kept broad policy settings unchanged—pinning short-term JGB yields at -0.1 percent and the 10-year…
Bank of Japan Widens Yield Curve Control Band, Triggering Jump in Yen
The Japanese yen rose 3 percent against the U.S. dollar on Tuesday after the Bank of Japan (BOJ) modified its yield curve control (YCC) band, allowing long-term government bond yields to trade in a wider range. The BOJ has decided to raise Japan’s 10-year government bond yields from 25 basis points to 50 basis points…
Oil Prices Rise but China’s COVID-19 Surge Limits Gains
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China. Brent crude futures were up 50 cents, or 0.65 percent, at $80.30 a barrel by 1035 GMT, adding to…
Stocks, Bonds Fall as BOJ’s Surprise Policy Shift Spooks Investors
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks and bonds fell on Tuesday as a surprise policy tweak by Japan’s central bank rattled investors already worried about the economic fallout of rising interest rates and lifted domestic bond yields to seven-year highs. The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points on either side…
Two More US States Issue TikTok Bans for Security Reasons
December 20, 2022
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Business & MarketsCCPChinaCompaniescongressDemocratseconomic policieseconomyExecutive BranchMedia & Big TechNational SecurityPolicies & ImpactsPoliticsRepublicanssecurity risksocial media apptechnologyTikTokUSUS News
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The states of Louisiana and West Virginia are the latest to ban the use of the Chinese-owned social media app TikTok on government devices. TikTok, which is owned by the China-based company ByteDance, boasts of at least 100 million users alone in the United States. Government agencies in both states banned the app on all…
Australia Launches First Offshore Wind Farm Zone in Victoria
Australia has officially launched the country’s first offshore wind farm zone, with government officials and environmental advocates touting the project as a “game changer” for the domestic energy market. The zone is located on the coast of Gippsland south of Victoria and covers about 15,000 square kilometres (5,790 square miles) offshore, running from Lakes Entrance…
UK Unions Urged to Guarantee Response to Life-Threatening Emergencies During Ambulance Strikes
The UK government has urged unions to honour their commitments to responding to life-threatening emergency calls during the planned ambulance strikes. The strikes, coordinated by the GMB, Unison, and Unite unions, is expected to affect nine ambulance trusts in England on Dec. 21 and eight on Dec. 28. Downing Street criticised the “concerning lack of…
Wall Street Opens Flat, Tesla Rises on Musk Poll Outcome
Wall Street’s main stock indexes were subdued at the open on Monday after two straight weeks of losses on recession worries, while Tesla shares rose after a poll showed Elon Musk should quit as Twitter’s CEO. The Dow Jones Industrial Average rose 0.99 points, or 0.00 percent, at the open to 32,921.45. The S&P 500…
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