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"The World Cup is an immense joy that revives us after suffering economic crisis for so long," Victorica said. "But soon we will have to fall back into reality and face the situations that weigh us down every day." "The World Cup gives us hope and the desire to believe," said Osvaldo Hassan, a 62-year-old merchant in Buenos Aires. World Cup wins can give a small boost to a country's economy in the months following, an academic paper from Britain's University of Surrey found, helping raise exports. Reporting by Rodrigo Campos in New York and Belen Liotti in Buenos Aires; Writing by Adam Jourdan; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Ghana overhaul a test for $1 billion World Bank-backed debt
▼ + stars: | 2022-12-02 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +5 min

[1/3] A girl walks past a flag of Ghana outside the Cape Coast Castle, in Ghana, July 28, 2019. "If Ghana decides to use the guarantee, it has to pay back immediately to the World Bank," Mitu Gulati, a law professor at the University of Virginia and debt restructuring expert, said. "This is a highly protected instrument that was issued with the logic that Ghana would never default on the World Bank," Gulati said. Ghana 2030 bondIN OR OUT? Ghana has not yet said whether the 2030 issue will be part of its debt restructuring.

Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits amid investor concerns it was slow to adjust valuations as interest rate surged, a source close to the fund said. The development is yet another reminder of the risks facing not just sectors that are sensitive to higher interest rates but also broader financial markets, which have rallied sharply on hopes that interest rate hikes will slow. "REITS had a fantastic performance for a couple of months but when you have that outperformance, investors don't react to traditional fundamental signals such as rising rates," she said. But in recent weeks expectations have risen that the Fed will "pivot" from aggressive tightening, prompting investors to price in lower peak interest rates. Blackstone has reported a 9.3% year-to-date net return for the REIT, while the publicly traded Dow Jones U.S.

☆ Russia's hopes for a Republican landslide to hurt Ukraine are vanishing fast
▼ + stars: | 2022-11-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

Shift in power ... and Ukraine support? Russia could well hope that a shift in power after the the midterm elections could herald a cooler attitude toward Ukraine. "Further, most Republicans remain staunchly committed to Ukraine support, despite House minority leader Kevin McCarthy's announcement of 'no blank check' for the Ukrainians under a Republican-led House. Russia's President Vladimir Putin listens while then-U.S. President Donald Trump speaks during a press conference in Helsinki, Finland, in 2019. "The war in Ukraine must provide the U.S. with the best chance for regime change in Russia, of taking Putin out.

read moreThe yield on the benchmark 10-year Treasury hit 4.338% earlier, the highest since November 2007. The two-year U.S. Treasury yield , which typically reflects interest rate expectations, surged to 4.639%, the highest since August 2007. We'll continue to see more calls for a slowdown (in Fed policy) as we feel more and more pain in risk markets," he added. The gap between yields on two- and 10-year Treasury notes , was at -27.5 basis points, that's the steepest since mid-September. The 10-year TIPS breakeven rate was last at 2.525%, reflecting the average inflation the market has priced in for the next decade.

As Truss spoke on Friday gains made in anticipation of the corporation tax U-turn faded. Ten-year gilt yields were 40 bps above session lows hit earlier on Friday, also pushed up by moves in bond yields globally. UNDERWHELMEDBritain's mini-budget three weeks ago triggered some of the biggest ever jumps in British bond yields, exposed vulnerabilities in the pensions sector -- undermining the country's financial stability. "How it impacts liquidity on the gilt market going forward is something we are monitoring closely." Rabobank's McGuire said pressure on UK assets could lead the BoE to re-intervene in the bond market or delay its quantitative tightening, bond-selling plans.

☆ Erdogan says Turkey will keep cutting interest rates, mocks British pound
▼ + stars: | 2022-09-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. MANDATORY CREDITTurkey will keep cutting interest rates, its President Recep Tayyip Erdogan said, despite soaring inflation at over 80%. Faced with deepening economic problems, Erdogan also took the time to throw some barbs at the U.K., saying that the British pound has "blown up." The currency has lost roughly 28% of its value against the dollar this year and 80% in the last 5 years as markets shunned Erdogan's unorthodox monetary policy of cutting interest rates despite high inflation. "Turkey has 80% inflation and I guess the worst performing currency over the past decade.

Few think another G7 central bank would be bold enough to intervene directly as Japan did on Thursday. But they say markets should prepare for more verbal intervention and more aggressive rate hikes as policymakers try to thwart the U.S. currency's ascent. The dollar surge follows aggressive Federal Reserve interest rate hikes, recession fears and geopolitical uncertainty following Russia's invasion of Ukraine. The yen, its central bank sticking to ultra-loose policy even as others raise rates, has been the biggest loser. Richard Benson, co-chief investment officer at Millennium Global Investments, said aside from the SNB, which intervenes regularly, another central bank intervention was unlikely.

☆ Fondul suveran al Rusiei va renunţa la toate activele în dolari
▼ + stars: | 2021-06-03 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Fondul suveran al Rusiei îşi va vinde toate activele în dolari americani pentru a majora ponderea deţinerilor în euro, yuani şi aur, a declarat joi ministrul rus al Finanţelor, Anton Siluanov, adăugând că aceste modificări ar urma să aibă loc pe parcursul următoarelor săptămâni, transmite Reuters, citează Agerpres. Oficialul citat a precizat că, după ce vor fi operate aceste modificări, fondul suveran al Rusiei va deţine 40% din active în euro, 30% în yuani şi 20% în aur. Fondul suveran al Rusiei este fondul unde se acumulează veniturile din exporturile de petrol ale Rusiei. Conceput iniţial ca un fond care să sprijine sistemul public de pensii, fondul suveran al Rusiei avea la 1 mai anul curent active în valoare de 185,9 miliarde dolari. Decizia de a renunţa la activele în dolari în cazul fondului suveran nu va afecta cursul de schimb al rublei, a subliniat prim-vicepremierul rus, Andrei Belousov.

Persons: Rusiei îşi, Anton Siluanov, Andrei Belousov, Tim Ash, Vladimir Putin, Joe Biden Organizations: Reuters, ING, BlueBay, Management, Banca Centrală Locations: Rusiei, Agerpres, Rusia, Crimeea, Sankt Petersburg, SUA, american

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