An inflationary energy shock has drained optimism over UK rate cuts and hammered popular hedge fund trades
Traders price in almost 50% chance of higher borrowing costs by October, in potential blow to Trump’s calls for cuts
Ten-year gilt yield jumps to 5% as fears over inflation shock intensify
RBI burns through more than $20bn of foreign exchange reserves this month trying to defend currency, say bankers
Fear of national security risks and investor protections spurs rare bipartisan call for action from financial regulator
Regulator targets some opaque ‘red-chip’ structures but signals the market for new issues is still open
Measures undertaken by vulnerable economies may be only the start of things to come
Wild swings in UK gilts point to strains that will hurt government finances and jack up borrowing costs for us all
Flows of oil and gas do not resume like turning a tap back on
The market’s calm in the face of war is beginning to crack
Desperation, thy name is Scott Bessent
Market Financial Solutions was complying with rules, law firm reported to UK regulator
Carriers that departed from the Middle East before Iran’s missile attacks began are due to arrive in the next 10 days
Self-proclaimed stoics who denounce self-examination only prove the bankruptcy of the tech bro worldview
Regulators crack down after trading in ‘toxic’ small-cap stocks from China inflicted losses on US investors
US president threatens to strike Iran’s power plants if the waterway is not opened for shipping
Rising crude price will boost export revenue as Mark Carney seeks to counter Donald Trump’s trade wars
CF Industries aided by access to low-cost US natural gas as energy crisis slams Asian and European competitors
Investors are becoming increasingly hawkish
Agriculture has been a ‘pain point’ for Tehran after it imposes de facto blockade of waterway in response to US-Israeli war
Iranians queue to get hold of highest-ever denomination bills as US-Israeli strikes fuel demand for hard currency
European Commission proposes steps to try to reduce demand for energy from households and industry
System called CarVe spots flecks of meat on carcasses as they move along the production line
Start-up aims to capitalise on rising interest in atomic power due to growing power demand from AI
Loan markdowns and market declines led to negative return for the first time in more than three years
President says US ‘very close’ to meeting its military objectives in Iran but does not want a ‘ceasefire’
The hedge fund manager is seeking to extend his Pershing Square portfolio in multiple vehicles
Scenarios that markets and policymakers hoped to avoid are now materialising
Unpopular
David Solomon’s comments in annual shareholder letter underscore Wall Street’s wariness around non-bank lending
Investigation follows failure of Mayfair-based lender and linked companies owned by founder Paresh Raja
Agency’s head Fatih Birol says recovery of oil and gasfields in Gulf region could take more than six months
Many price/earnings ratios have fallen back to long-run averages
Agency says consumer demand measures needed to manage Iran war’s disruption to global markets
Also in this newsletter: Macron urges Brussels to counter election interference
Shipments from east Africa including goat and cattle meat have plummeted and transport costs have soared
