2019-09-19 11:47:39| The Economic Times
The Fed said it will again conduct a repurchase agreement operation of up to $75 billion.
2019-09-18 09:53:09| Guardian Unlimited Business - more business news
Rolling coverage of the latest economic and financial news, including new data showing the cost of living in Britain 8.53am BST The UK government is often criticised for taking laissez faire approach to takeovers. Related: Leadsom intervenes in takeover of defence supplier Cobham 8.19am BST The US repo market is effectively an obscure part of the financial systems plumbing....which started making alarming clanking noises yesterday.Reuters has written a handy explanation to this overnight lending market between banks:The system typically hums along with the interest rate charged on repo deals hovering close to the Feds benchmark overnight rate, currently set in a range of 2.00% to 2.25%. That rate is expected to be cut by a quarter percentage point on Wednesday.But sometimes, investors get fearful of lending, as seen during the global credit crisis, or at other times there are just not enough reserves or cash in the system to lend out, as appeared to be the case this week. And that can cause a squeeze on the market and send borrowing costs zooming higher.Everything you need to know about the repo market but were too afraid/couldnt be bothered to ask...https://t.co/ejjnfgtusn Continue reading...
2019-09-18 07:16:45| GoldSeek.com News
Mondays spike in crude oil prices could be a game changer for geopolitics, for the economy, and for investors. Normally it would be foolhardy to draw big, sweeping conclusions from a single days trading activity. But in this case, its not just the fact that oil prices surged 13% to over $62/barrel. Or even the fact that more than 5% of the worlds oil producing capacity suddenly got taken offline.
2019-09-17 08:53:28| Guardian Unlimited Business - more business news
Rolling coverage of the latest economic and financial news 7.32am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Remember when Iran shot down a drone, saying knowingly that it was in their airspace when, in fact, it was nowhere close. They stuck strongly to that story knowing that it was a very big lie. Now they say that they had nothing to do with the attack on Saudi Arabia. Well see?Global equity markets are stabilising after the drone attack but remain in a state of limbo trying to access the economic damage of a possible lengthy oil price shocker, keeping in mind that every recession since 1973 has included an oil price shock, versus the favourable medium-term S&P 500 correlation to higher oil prices.All the while, nervously evaluating the possibility of a joint military response from the U.S. and Saudi Arabia. Related: Saudi oil attacks push prices up by highest amount since 1988 The delay to the IPO will also block WeWork from accessing a $6bn loan that had been provided by a consortium of banks, contingent on a successful IPO this year. If WeWork is unable to finalise its listing in 2019 it could be forced to draw up new financing plans. While the company is still set to receive a $1.5bn capital injection from SoftBank in 2020 as part of an earlier agreed deal, the cash cost of its global expansion has depleted its reserves and proven a key issue for investors. Related: Supreme court to hear claims suspension of parliament is unlawful Continue reading...
2019-09-16 16:22:10| Business - International Herald Tribune
Oil futures briefly jumped 20 percent as investors weighed the impact of the weekends strike on two Saudi oil facilities.