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☆ Sterling crumbles to all-time low, euro at 20-year low
▼ + stars: | 2022-09-26 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterBut it was sterling's slide that rippled across markets, down as much as 4.9% to an all-time low of $1.0327 . Sterling was also down 1% against the euro, having hit its lowest since September 2020 at 92.60 pence . The euro also touched a fresh 20-year trough at $0.9528 and was last down 0.5%. And the dollar index - where the basket includes sterling, the euro and the yen - reached 114.58 for the first time since May 2002, reflecting the greenback's broad strength. The risk-sensitive Australian dollar dropped to $0.64845, its lowest since May 2020, and the Canadian dollar touched 1.3638 to its U.S. counterpart, its weakest since July 2020.

☆ Euro zone yields at multi-year highs, Italian bonds underperform
▼ + stars: | 2022-09-26 | by ( Stefano Rebaudo | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterSept 26 (Reuters) - Euro zone government bond yields jumped to multi-year highs amid expectations that central banks will keep tightening their monetary policy despite recession risks and a new sell-off in British gilts. Meanwhile, the spread between Italian and German yields widened after the rightist coalition won a clear majority in Sunday's elections. Italian bond (BTP) prices are also more susceptible to shifts in interest rate expectations, given the country's vast debt burden. Giorgia Meloni looks set to become Italy's first woman prime minister at the head of its most right-wing government since World War Two. "Bond yields across Europe are correlated, and today's jump in Britain yields is again affecting the euro area," he added.

An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England in London, in this March 25, 2008 file photograph. Yet the rapid rise in yields investors now receive for owning UK bonds hasn't helped sterling much. Pound slumps and UK borrowing costs surgePredicting the short-term direction of currencies is notoriously hard. Against the euro the pound is only at two-year lows, although it is down 3% since Friday. "People will look at the UK and think that that's not a market that is stable," said Payne at Janus Henderson.

REUTERS/Kim Kyung-Hoon/File PhotoNEW YORK/LONDON, Sept 25 (Reuters) - Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. "It's hard to know what will break where, and when," said Mike Kelly, head of multi-asset at PineBridge Investments (US). "Currency exchange rates ... are now violent in their moves," said David Kotok, chairman and chief investment officer at Cumberland Advisors. But the murky outlook meant that they were still not cheap enough for some investors. "We are of the view that markets are still massively underestimating the global economic growth hit that is coming," he said.

REUTERS/Kim Kyung-Hoon/File PhotoNEW YORK/LONDON, Sept 25 (Reuters) - Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. "It's hard to know what will break where, and when," said Mike Kelly, head of multi-asset at PineBridge Investments (US). "Currency exchange rates ... are now violent in their moves," said David Kotok, chairman and chief investment officer at Cumberland Advisors. The fallout from the hectic week exacerbated trends for stocks and bonds that have been in place all year, pushing down prices for both asset classes. "We are of the view that markets are still massively underestimating the global economic growth hit that is coming," he said.

☆ Indian shares tipped to open lower on subdued global sentiment
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Francis Mascarenhas/FilesRegister now for FREE unlimited access to Reuters.com RegisterBENGALURU, Sept 23 (Reuters) - Indian shares are expected to open slightly lower on Friday as global risk sentiment remained subdued amid renewed worries over economic growth that was amplified by Russia's threat to use nuclear weapons. The NSE Nifty 50 index (.NSEI) ended 0.5% lower at 17,629.80 on Thursday, while the S&P BSE Sensex (.BSESN) dropped 0.57% to 59,119.72. read more** Tata Steel (TISC.NS) on Thursday approved the amalgamation of Tata Steel Long Products, Tinplate Co, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining with the company. ** Bombay Dyeing And Mfg Co (BDYN.NS) approved raising of funds worth up to 9.40 billion Indian rupees on rights basis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ International VCs flooded Latin America in 2021. Some are wondering whether they'll ever see returns.
▼ + stars: | 2022-09-23 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

2021 was a record year for venture capital in Latin America; deal activity increased by over 260%. 2021 was a record-breaking year for venture capital investment in Latin America, with the region's deal activity increasing by more than 260%, according to data from PitchBook. In 2021 alone, Latin America minted nine unicorns, or private companies worth more than $1 billion. As of August, Latin America had only $600 million in new fundraising, compared with $3.6 billion in all of 2021. "It did get very overheated," said Ryan Bloomer, a managing partner at K50 Ventures, which has been investing in Latin America since 2016.

Finance minister Kwasi Kwarteng's plans will require an extra 72 billion pounds ($79 billion) of government borrowing over the next six months alone, and - a particular concern for investors - cement permanent tax cuts costing 45 billion pounds a year. But to bond investors, they bring the prospect of more persistent inflationary pressures - at a time when inflation is already near a 40-year high - as well as tighter Bank of England (BoE) policy. Government borrowing is likely to total 218 billion pounds this financial year and 229 billion pounds in 2023/24, Citi predicted, and it expects benchmark 10-year British government bond yields to rise to 4.25%. Adding to the pressure, on Thursday the BoE confirmed it planned to reduce its own 838 billion pounds of gilt holdings by 80 billion pounds over the coming year. "That is a strong indication that domestic and overseas investors are losing confidence in the UK's inflation-fighting credibility," he said.

☆ Reactions: Putin mobilises more troops for Ukraine
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +20 min

Russian President Vladimir Putin makes an address on the conflict with Ukraine, in Moscow, Russia, in this still image taken from video released September 21, 2022. I think even with this Russia stuff it’s hard to see the market really rally a lot more from here ahead of the FOMC. From a geopolitical standpoint, Putin is frustrated that the war isn’t going his way and he’s threatening the west. "If it gets really, really bad, I'd expect the dollar to rise." This announcement by Putin to intensify the escalation in Ukraine definitely doesn’t help.

☆ There’s a ‘very high likelihood’ of a growth recession as the Fed’s inflation fight ramps up, Powell says. It means the end of the Great Resignation and fewer raises at work.
▼ + stars: | 2022-09-21 | by ( Ben Winck | ) www.businessinsider.com time to read: +4 min

There's a 'very high likelihood' the US faces a period of below-trend growth, Fed Chair Jerome Powell said. There's a "very high likelihood" that the US faces a period of below-trend economic growth, Fed Chair Jerome Powell said in a Wednesday press conference. Subpar economic growth will bite into companies' growth forecasts and stock prices. Weakening the labor market is one of the aims of the Fed's tightening in the first place. There's only been "modest evidence" that the labor market is balancing out, the chair said.

☆ European markets head for positive open, following global trend higher
▼ + stars: | 2022-09-20 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a positive open on Tuesday following broadly higher trade on Monday as stocks recovered from tough week last week which saw stocks fall across the board. The U.S. Federal Reserve's two-day monetary policy meeting, which begins Tuesday, is at the forefront of global investors' minds. Markets expect a 75-basis-point rate hike as the central bank strives to get soaring prices under control. It's a quiet day for earnings and data releases in the region, although Kingfisher and TUI Group release their latest earnings and Germany publishes producer price data for August.

☆ Anxious investors are piling into hedge funds
▼ + stars: | 2022-09-20 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com time to read: +7 min

London (CNN Business) For years, the climate for hedge funds was tough. That's boosting interest in hedge funds, through which professional investors try to beat the market by deploying less-conventional approaches. Investors trying to capitalize on turmoil in commodity markets have done particularly well, according to Robert Sears, chief investment officer at Capital Generation Partners, which invests in hedge funds for wealthy families. "Until we get into the cycle of earnings going down and the Federal Reserve starting to ease policy, really you're set for an environment when hedge funds should do quite well," Sears told me. Investors see an 80% probability that the Fed will hike interest rates by three-quarters of a percentage point on Wednesday.

☆ How HSBC’s wealth chief suggests you protect your portfolio from inflation
▼ + stars: | 2022-09-20 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN Business —People around the world are searching for ways to shield themselves from the impact of stubbornly high inflation, and the rich are no exception. Annual inflation in the European Union stands at 9.1%, while the United States’ rate remains at 8.3%. Inflation in the United Kingdom recently hit a 40-year high before abating slightly to 9.9% last month. Matos told CNN Business how Europe’s biggest bank was advising its customers, which include both high-net-worth and retail investors, to play defense. Even as many people sell assets, “you want to keep invested,” said Matos, noting the adverse effects of retaining cash during a high inflation period.

☆ How HSBC's wealth chief suggests you protect your portfolio from inflation
▼ + stars: | 2022-09-20 | by ( Michelle Toh | Cnn Business | ) edition.cnn.com time to read: +1 min

Hong Kong (CNN Business) People around the world are searching for ways to shield themselves from the impact of stubbornly high inflation, and the rich are no exception. Nuno Matos, HSBC's CEO of wealth and personal banking, told CNN Business that global investors were "not being as active as they used to be," with many looking to sell off what they see as riskier bets and "buying more protection for their portfolios." recession fears are mounting. Inflation is putting immense pressure on households worldwide as they grapple with higher costs of living , as well as squeezing the margins of many businesses. Economies are stalling, andrecession fears are mounting.

☆ Investors want to own long-term Teasurys, says Richard Bernstein's Michael Contopoulos
▼ + stars: | 2022-09-19 | 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 EmailInvestors want to own long-term Teasurys, says Richard Bernstein's Michael ContopoulosSeema Shah, chief global strategist at Principal Global Investors, and Michael Contopoulos, director of fixed income at Richard Bernstein Advisors, join CNBC's 'Squawk Box' to break down their investment strategies ahead of the market open.

Investors' focus on the Fed's policy rate is understandable, but they should not underestimate how much the Fed's other policy lever - quantitative tightening - could tighten financial conditions and crush asset prices even further. chartBut as the wild post-pandemic gyrations in markets, economic activity, inflation, and policy have shown, no one really knows. Are markets ready for QT to kick in as well? "Fed QT training wheels are off. He estimates that every $100 billion of QT is the equivalent to a 12 bps increase in the policy rate.

☆ Why impact investing needs to be 'decolonized' to help the people most affected by climate change and inequity
▼ + stars: | 2022-06-30 | by ( Durreen Shahnaz | ) www.businessinsider.com time to read: +7 min

Kazi Awal/InsiderImpact investing doesn't always help the people impacted most by inequity and climate change, according to Durreen Shahnaz, founder and CEO of Impact Investment Exchange. As the founder and CEO of Impact Investment Exchange, I've seen how much actual impact impact investing can have — and how it can reinforce old, problematic norms. McGlashen's involvement in both the scandal and the world of impact investing is not merely a coincidence. This means that impact investing in Asia, Africa, and Latin America is coming from the Global North and with it, the power of how impact investing should go. While companies like IIX are all about the Global South investing in each other, we are the minority.

☆ The Fed is fed up with inflation and it's going to unwind its pandemic aid sooner than planned
▼ + stars: | 2021-12-15 | by ( Ben Winck | ) www.businessinsider.com time to read: +5 min

"Inflation developments and the further improvement in the labor market" sparked the move, the Fed said. Fed officials signaled they'll raise interest rates three times in 2022 to cool inflation. In a Wednesday statement, it attributed this acceleration to "inflation developments and the further improvement in the labor market." Though Powell has maintained the surge will be transitory, faster tapering suggests the Fed will more aggressively fight inflation in 2022. Median forecasts from Fed officials see the benchmark rate climbing to 0.9% in 2022 from 0.1%, and higher still to 1.6% in 2023.

Video Ad Feedback 04:31 - Source: CNN Fresh produce in MauritiusShift to retailThe family’s first stall was in Curepipe market in the country’s highest town. It was here, not far from the famous extinct volcanic crater “Trou aux Cerfs”, that the family business started to really grow. Import/ExportSooklall’s brother Shyam focused on selling fresh produce from abroad, attracting customers with foreign tastes. “We say you need to be able to talk to the fresh produce – this is the success of the business,” says Suren Surat. Recently, the family started the islands’ first dairy, and is soon to open its sixth supermarket franchise.

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