Truss forced to change taxes after week of market turmoil

Truss defended the policy, and markets were concerned about the cost Kwarteng now says it was a distraction A bend made with ‘humility and remorse’ – Kwarteng The reduction in the highest tax rate was a small part of the overall plan Lawmakers have expressed concern about the government’s ruling BIRMINGHAM, England (Reuters) – British … Read more

Analysis: Underwater: How the Bank of England has delivered a lifeblood to the markets

Bank of England bought bonds after pension fund pleas Some UK pension funds have faced problematic margin calls BoE support is seen as giving an opportunity to build collateral The British government’s unfunded tax plan scared the markets LONDON/NEW YORK (Reuters) – Calls from the Bank of England began on Monday saying some British pension … Read more

Wall Street records its third consecutive quarterly loss with rising inflation and a looming recession

S&P 500 records biggest September percentage drop in 20 years All three major US stock indexes have fallen in three quarters Core inflation data is hotter than expected Indices down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK (Reuters) – The Standard & Poor’s 500 Index on Friday closed its biggest September drop in two … Read more

Gas crisis plunges LNG shipping market into the hands of energy giants

LONDON/SINGAPORE (Reuters) – The skyrocketing price of liquefied natural gas (LNG) shipping has alienated dozens of small traders, concentrating business in the hands of a handful of major global energy companies and major global trading houses. This grip is not expected to ease until 2026 when more LNG begins to emerge and lower prices, raising … Read more

Analysis: Credit Markets See Less Recession Risk, Earnings May Challenge That

The New York Stock Exchange (NYSE) is seen in the financial district of New York, US, January 13, 2021. REUTERS/Shannon Stapleton Register now to get free unlimited access to Reuters.com Register (Reuters) – High-yield US corporate bond markets may be undervalued to counter recession risks even as Treasuries and macroeconomic indicators reflect rising growth concerns, … Read more

Wall Street posted gains for the fourth consecutive day ahead of the CPI report

Register now to get free unlimited access to Reuters.com Register The core CPI declined on Tuesday Bristol-Myers has received FDA approval for its psoriasis drug Twitter says Musk’s latest attempt to cancel the deal is invalid Indexes advance: Dow 0.71%, Standard & Poor’s 1.06%, Nasdaq 1.27% NEW YORK (Reuters) – Wall Street extended its winning … Read more

Stocks drop on Fed rate hike bets, yen hits 24-year low

Register now to get free unlimited access to Reuters.com Register LONDON (Reuters) – European stock markets fell on Wednesday after US economic data prompted traders to increase bets the Federal Reserve would raise interest rates, sending the dollar to a 24-year high against the Japanese yen. US Treasury yields jumped and the dollar got a … Read more