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The ECB has contacted banks on its watch to quiz them on their exposure to the struggling Swiss lender, two supervisory sources told Reuters. Money market pricing suggested traders now saw less than a 20% chance of a 50 basis point rate hike at Thursday's scheduled ECB meeting. That's down from as high as 90% at the start of the session , when a source-based story saying ECB policymakers were leaning towards a half-percentage-point rate hike was published. While rapidly rising interest rates across major economies have raised concern about potential pressure points, many analysts still expected a large ECB hike given high inflation. Pictet's Ducrozet said the ECB could also ease collateral rules for banks, though not as much as the Federal Reserve.

Investors reeled in their expectations for global central bank rate hikes, and bank stocks tumbled once again. Reuters GraphicsIn the money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday, as did other indicators of credit risk in the euro zone. The gap between two-year euro swap rates and two-year German bond yields , widened by around 20 basis points to 83 basis points, to the highest since Nov. 11. Reuters GraphicsIn Germany, two-year bond yields dropped more than 50 basis points, much more than a drop of 37 basis points on swap rates. Back in late 2008, when failed investment bank Lehman Brothers collapsed, this swap rate went as negative as 300 bps.

Markets have ramped up bets on further rate increases after the ECB has already tightened monetary policy by 3 percentage points since July. ECB President Christine Lagarde reckons a 50 basis points (bps) rate hike "is very, very likely". "The ECB is prioritising getting policy rates as high as needed and nothing else is as important," Pictet Wealth Management's head of macroeconomic research Frederik Ducrozet, said. Signs of economic resilience suggest ECB growth forecasts, also out on Thursday, could be revised upwards for 2023. Falling energy prices and a stronger euro, up around 6% in trade-weighted terms from August lows, suggest headline inflation forecasts could be revised lower.

Investors reeled in their expectations for global central bank rate hikes, and bank stocks tumbled once again. Reuters GraphicsIn the money markets, a closely watched indicator of credit risk in the U.S. banking system edged up on Monday, as did other indicators of credit risk in the euro zone. The gap between two-year euro swap rates and two-year German bond yields , widened by around 20 basis points to 83 basis points, to the highest since Nov. 11. Reuters GraphicsIn Germany, two-year bond yields were last down over 40 basis points, much more than a drop of 24 basis points on swap rates. Back in late 2008, when failed investment bank Lehman Brothers collapsed, this swap rate went as negative as 300 bps.

☆ NHL roundup: Ivan Barbashev nets pair as Knights edge Canadiens
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +4 min

[1/3] Mar 5, 2023; Las Vegas, Nevada, USA; Vegas Golden Knights center Ivan Barbashev (49) celebrates after scoring a goal against the Montreal Canadiens during the first period at T-Mobile Arena. The Lightning didn't register a second-period shot on goal, going to the third period with just four for the game. It marked the sixth time in Carolina franchise history that an opponent went an entire period without a shot on goal. Flyers 3, Red Wings 1Nicolas Deslauriers, Noah Cates and Scott Laughton each scored one goal to lift host Philadelphia past Detroit. Laughton scored an empty-net goal at 18:12 of the third period in his 500th career game to seal the victory.

☆ A Simple Trick Helped Me Cut Back on Screen Time, Break My Phone Addiction
▼ + stars: | 2023-03-05 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +13 min

To try and break my habit, I decided to slow down my phone experience with a new app called One Sec. Plus, studies have shown that things like app limits that merely measure your screen time won't break compulsive habits. Sandy Gould, a senior computer-science lecturer at Cardiff University, has researched ways to curb our compulsive phone tendencies. Frederik Riedel, the German-based developer of the app, told me that creating better boundaries was the motivation behind the development of the app. I can attest to that figure: One Sec has nearly halved my compulsive Twitter use.

☆ NHL roundup: Connor McDavid's historic multi-goal streak hits 5
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

McDavid has scored two goals in each of the past five games and has an NHL-leading 52 for the season. Klim Kostin and former Maple Leaf Zach Hyman added a goal and an assist for the Oilers, who had lost their previous two games. Mitchell Marner logged a goal and an assist for the Maple Leafs, who had a three-game winning streak end. Owen Tippett and Scott Laughton scored one goal apiece for the slumping Flyers, who have dropped four in a row. Jordan Staal and Martin Necas scored goals for Carolina, which took its second straight loss.

☆ NHL roundup: Roope Hintz's SO goal lifts Stars past Knights
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +8 min

Rookie Wyatt Johnston also scored a goal and Jamie Benn added two assists for the Stars. Eichel and Michael Amadio both scored goals for Vegas, which saw its five-game home winning streak snapped. Patrik Laine had a goal with two assists and Kirill Marchenko scored twice for the Blue Jackets, who swept the two-game season series from Edmonton. It was Oshie's first career game with a goal, assist and a fight, known as a Gordie Howe hat trick. Tyler Toffoli scored, Jacob Markstrom turned away 18 shots and Nazem Kadri had an assist in his return to Colorado.

☆ NHL roundup: Ryan O’Reilly's hat trick leads Leafs
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +8 min

O'Reilly's goals -- his first since joining Toronto in a trade with St. Louis last Friday -- marked his fourth career hat trick. John Tavares added a goal and three assists, William Nylander had a goal and an assist, and Michael Bunting also scored for Toronto. 700, has collected nine points (five goals, four assists) during a six-game point streak. The Canucks scored goals just 51 seconds apart late in the third period to tie it 4-4. Tampa Bay stretched its franchise-record home point streak to 15 games (14-0-1).

☆ NHL Roundup: Canes rout Caps in Stadium Series
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +9 min

Josh Brown and Travis Boyd each had a goal and an assist, and Christian Fischer also scored. Arizona has earned points in eight straight games (4-0-4) for the first time in 11 years. Corey Perry and Vladislav Namestnikov each had a goal and an assist, and Steven Stamkos and Pierre-Edouard Bellemare also scored goals for Tampa Bay. Columbus' Mathieu Olivier collected a goal and two assists, Eric Robinson had one of each and Liam Foudy scored his first career NHL regular-season goal. Joonas Korpisalo turned aside 28 shots for the Blue Jackets, while forward Johnny Gaudreau sat out because of a lower-body injury, ending his streak of playing in 349 straight games.

☆ Russian inmates only had to march a few yards to be considered fit enough to fight in Ukraine for the Wagner Group, 2 captured fighters say
▼ + stars: | 2023-02-13 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Two captured Wagner Group fighters say the company hired convicts as long as they could march a few yards. Both Russian fighters told CNN they were serving prison sentences when the Wagner Group approached them in September and August, offering six-month contracts in exchange for pardons. The pair said Prigozhin told them they would be stationed on the second line of defense on Russia's front, per CNN. Similar reports previously emerged of Russian reservists dying by the hundreds from Ukrainian shelling and of Wagner Group recruits being executed for refusing to participate in suicide charges. "Those who disobey are eliminated — and it's done publicly," Yevgeny Novikov, a former inmate recruited by Wagner, told the Russian independent outlet Poligon Media.

☆ NHL roundup: Adrian Kempe, Kings pound Penguins
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +10 min

Mika Zibanejad scored his 27th goal, Kaapo Kakko also found the net and Vincent Trocheck and Jimmy Vesey each added two assists. Carolina's Sebastian Aho saw his six-game goal streak end. Blues 6, Coyotes 5 (OT)Ryan O'Reilly scored the winning goal 1:02 into overtime to lift St. Louis past visiting Arizona. Scott Wedgewood made 28 saves in his first appearance since blanking the Los Angeles Kings 4-0 on Jan. 19. Jonatan Berggren scored two goals, Filip Hronek scored a goal, and Ben Chiarot had two assists for the Red Wings.

☆ ‘It turned bad in an instant’: CNN crew has close call in Ukraine as Russian missiles pummel their location
▼ + stars: | 2023-02-02 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

CNN —CNN correspondent Frederik Pleitgen and his team were traveling on Thursday to the Ukrainian city of Kramatorsk to report on the search and rescue efforts underway after a residential building was leveled overnight by a Russian missile. It was “supposed to be a fairly easy shoot,” Pleitgen said, given that the crew was not heading to the frontlines of the war. Pleitgen said that after some time had passed, “when it stayed quiet,” the CNN team exited the basement, filmed the destruction left by the powerful blasts, and then quickly left the scene. But he did say that “planning and communication are everything” for the team, and that they were well prepared when the reporting assignment quickly turned dire. The incident, Pleitgen said, has impacted how he thinks about reporting from the war zone.

☆ Bank of England still facing the perfect storm, economist says
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England still facing the perfect storm, economist saysThe guidance for the economic outlook provided by the Bank of England is more surprising than its interest rate decision, Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management, says.

"That would be a problem for any central bank." TUG OF WARLagarde's commitment also puzzled ECB-watchers because the central bank had previously said it wouldn't make such public predictions - known as forward guidance - anymore, but instead take each decision based on incoming data. This of course leads to a tug of war between the ECB and the markets on the narrative," he added. ING's Brzeski said the ECB lacked a clear thought-leader on its Governing Council who could steer markets like Lagarde's predecessor, Mario Draghi. "The cacophony of diverging voices and the lack of clarity on who is the leading voice keeps hurting the ECB," Brzeski said.

☆ NHL roundup: Kraken use huge 2nd period to down Blackhawks
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +9 min

[1/4] Jan 14, 2023; Dallas, Texas, USA; Dallas Stars center Tyler Seguin (91) and Calgary Flames center Nazem Kadri (91) look for the puck in the Calgary zone during the second period at the American Airlines Center. Flames 6, Stars 5Nazem Kadri, Rasmus Andersson and Chris Tanev collected one goal and one assist apiece as visiting Calgary rode a four-goal second period to a victory over Dallas. Bruins 4, Maple Leafs 3Matt Grzelcyk scored with 1:16 left in the third period to lift host Boston past Atlantic Division rival Toronto. Grzelcyk scored his second goal of the season and first since Oct. 28, firing a bomb from above the left circle with David Krejci screening Maple Leafs goaltender Matt Murray. Paul Cotter, Keegan Kolesar and William Karlsson scored goals and Logan Thompson made 33 saves for Vegas.

☆ NHL roundup: Kraken hand Bruins first home regulation loss
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +8 min

[1/5] Jan 12, 2023; Boston, Massachusetts, USA; Seattle Kraken goalie Martin Jones (30) reacts during the third period against the Boston Bruins at TD Garden. Jones logged 10 of his stops in the second period in his third shutout this season and 28th overall. Tyler Seguin scored his 10th goal of the season for the Stars and Oettinger made 29 saves. Kyle Connor scored the game-winning goal in the third period, while Dylan Samberg, Josh Morrissey and Karson Kuhlman also scored for the Jets. Victor Olofsson had a goal and an assist and Tyson Jost scored for Buffalo, which has lost three in a row.

☆ The ECB could be uncomfortable with market reaction to Fed announcement, strategist says
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe ECB could be uncomfortable with market reaction to Fed announcement, strategist saysFrederik Ducrozet, global strategist at Pictet Wealth Management, discusses the rate hike announcements by the Fed, European Central Bank and Bank of England.

Headline inflation slowed in November for the first time in 1-1/2 years, to 10%, raising hopes that sky-high price growth has passed. ECB President Christine Lagarde will likely be careful about calling a peak after last year's "big mistake" of insisting surging prices were "transitory," said Pictet's Ducrozet. ECB Chief Economist Philip Lane reckons wages would be a "primary driver" of price inflation even after energy price shocks fade. Closely-watched business activity data points to a mild recession and latest forecasts should show how the ECB views the coming slowdown. Lane believes record price growth will start to subside next year.

☆ NHL roundup: Spencer Knight, Panthers blank Hurricanes
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

[1/5] Nov 9, 2022; Sunrise, Florida, USA; Florida Panthers goaltender Spencer Knight (30) watches the puck on the shot of Carolina Hurricanes right wing Stefan Noesen (23) during the third period at FLA Live Arena. Mandatory Credit: Jasen Vinlove-USA TODAY SportsNovember 10 - Spencer Knight made 40 saves for his first shutout of the season as the Florida Panthers defeated the Carolina Hurricanes 3-0 on Wednesday in Sunrise, Fla. The 40 stops were a season-high for the 21-year-old goalie, and when Carolina pushed back in the third period, Knight was particularly sharp, stopping 18 shots in the final stanza. Nick Cousins, Aleksander Barkov and Sam Bennett scored for Florida, which has won back-to-back games despite missing Matthew Tkachuk because of a suspension. Jason Zucker, Brock McGinn and Jeff Petry each scored during a three-goal second period and Jake Guentzel tallied into an empty net in the third for the Penguins.

☆ NHL roundup: Red Wings rally to edge Rangers in OT
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +3 min

[1/5] Nov 6, 2022; New York, New York, USA; Detroit Red Wings left wing Dominik Kubalik (81) skates down ice on a breakaway in the third period against the New York Rangers at Madison Square Garden. Detroit won its third straight when Kubalik waited at the right side of the net for a pass from David Perron and tipped in the puck past goaltender Jaroslav Halak. Officials briefly reviewed the play to see if the Red Wings were offsides and did not change the call, allowing Detroit to end its three-game road losing streak. Matt Luff and Pius Suter scored in the second period for Detroit, which also beat Washington and the New York Islanders before Sunday. The Ducks entered allowing an NHL-high 478 shots on goal -- and have yielded at least 44 in four straight games.

☆ NHL roundup: Tage Thompson's 6 points help Sabres blast Wings
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

[1/3] Oct 31, 2022; Buffalo, New York, USA; Hats are thrown on the ice to celebrate Buffalo Sabres right wing Tage Thompson (72) third goal of the game during the third period against the Detroit Red Wings at KeyBank Center. The franchise record is seven points, set by Gilbert Perreault on Feb. 1, 1976. However, the Sabres' defense clamped down and Dahlin, Dylan Cozens, Thompson and Rasmus Asplund each followed with goals. The Red Wings won all four games against the Sabres during the 2021-22 season. Hurricanes 3, Capitals 2 (SO)Andrei Svechnikov scored the decisive goal in a shootout as host Carolina beat Washington.

For these reasons, the ECB said banks would have to start paying going rates on their TLTRO credit, rather than the average rate over the whole duration of the loans. But the rate the ECB pays commercial banks is now back in positive territory and is likely to rise further. Analysts have warned changing the terms of loans already outstanding could deter banks from tapping similar loans in future downturns. The TLTRO cash also creates additional demand for low-risk securities, limiting the rise in rates on repurchase agreements and short-dated government bond yields. , Lagarde said that also factored into the ECB's decision.

But the rate decision is likely to be the easy part of Thursday's meeting. The ECB's rate decision is due out at 1315 GMT, followed by Lagarde's news conference at 1345 GMT. Having borrowed at zero or even negative rates, banks can now simply park this cash back at the ECB for a positive, risk-free return, which rises with each deposit rate hike. The ECB would also be justified on monetary policy grounds to act, as abundant liquidity is keeping interest rates too low - money market rates are still slightly below the central bank's deposit rate. The bank is likely to decide to change the bank loan terms, but the devil will be in the detail as only imperfect options are available to it.

☆ Markets look for answers from the European Central Bank as it preps for a jumbo rate hike
▼ + stars: | 2022-10-26 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

While the European Central Bank is largely expected to announce another rate hike Thursday, market players are seemingly more concentrated on two other policy tools as the region edges toward a recession. The central bank has been contemplating inflation being at record highs but an economy that is slowing, with many economists predicting a recession before the end of the year. Amid this context, the ECB is widely seen raising rates by 75 basis points later this week. This would be the second consecutive jumbo hike and the third increase this year. Given the inflationary pressures — the September inflation rate came in at 10% — analysts are pricing in at least another 50 basis point hike in December.

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