The relentless rise of the dollar scorched emerging market currencies on Thursday, sending China’s renminbi to its weakest level in eight years, while India’s rupee plumbed a record low. Broad currency weakness against the dollar came as the bond market fully expects policy tightening by the Federal Reserve at its December meeting. Investors are also looking to next year and trying to gauge the extent of further […]
BEIRUT, Lebanon — Turkish soldiers were killed on Thursday by Syrian warplanes while fighting inside Syria for the first time since the civil war there began in 2011, the Turkish military announced. Three soldiers were killed and 10 others wounded, the military said. The troops were advancing toward Al Bab, a city in the north held by the Islamic State, close to the border with Turkey. The […]
While most global equity markets were subdued due to the US Thaksgiving holiday, the FX world was very busy overnight, marked by the relentless dollar surge on expectations of a rate hike not only in December but further in 2017, sending Asian currencies to the weakest level in 7 years: the Bloomberg-JPMorgan Asia Dollar Index reached 103.32, the lowest level since March 2009. The regional FX plunge […]
November 24, 2016 by: Jamie Chisholm, Global Markets Commentator Thursday 08:30 GMT. European equity markets are trading cautiously in the wake of solid US data that bolstered the case for a near-term rate rise from the Federal Reserve and which has triggered another bout of dollar strength. The rampant buck is battering many emerging market currencies and leaves gold down $5 to $1,182.5 an ounce, the metal’s […]
Brig. Gen. Abdul-Wahab al-Saadi, another special forces commander, said he had known from the beginning that no one would rise up. Iraqi officials had hoped that keeping civilians in their homes while counting on residents to rise up would also avert the type of destruction in Mosul that was seen in Ramadi, another Islamic State-held city, which was liberated at the beginning of the year but was […]
Submitted by Brandon Smith via Alt-Market.com, As I noted in my last article World Suffers From Trump Shellshock – Here’s What Happens Next, there are two primary consequences of a Trump presidency that actually serve globalists and elites in the long run. The first is the consequence of a perfect scapegoat for the economic crisis which the elites have been gestating since 2008. Trump enters the White […]
As night fell on June 15, volunteers at the Birstall Wellbeing Centre in West Yorkshire were preparing for their usual Wednesday group session. The centre offers Reiki healing, palm readings and holistic massage. Rebecca Walker, who opened the centre eight years ago, is haunted by that night in June. At about 6.30pm, a man in his 50s walked through the door. He was thin, on the short […]
Global lenders’ need to cut the mounting cost of running their swaps portfolios has turned what was once a cottage industry into a cornerstone of the global derivatives industry. BGC Partners, the US interdealer broker, became the latest to underline this trend after revealing the value of interest rate swaptions it had torn up for banks this year more than trebled to $3.5tn. A swaption gives a […]
Mr. Ponomarev, a New York Times photojournalist, and Mr. Arango, The Times’s Baghdad bureau chief, are in northern Iraq covering the Mosul offensive and the intensifying humanitarian crisis surrounding it. Each day, dozens of families pick their way out, some carrying white flags even as they come under mortar or sniper fire from the Islamic State. Billowing black clouds from oil wells set on fire by militants […]
The State Department issued an alert on Monday to US citizens traveling to Europe about a “heightened risk of terrorist attacks,” particularly over the holiday season. “Have an emergency plan of action ready,” the US urged according to NBC. “Credible information indicates the Islamic State of Iraq and the Levant (ISIL the U.S. gov’t acronym for ISIS or Da’esh), al-Qaeda, and their affiliates continue to plan terrorist […]
Sitting on a bench outside a butcher’s shop in Bagnoli, a gritty Naples suburb, Emanuele Fusco can only speak scathingly of Matteo Renzi and his referendum to change Italy’s constitution that will be put to a vote on December 4. The 25-year-old barman says the prime minister’s government has been no different to those previously that failed to regenerate the area after the demise of the steel […]
The film had been pilloried by conservative Christians for a dream sequence in which Christ has sex with Mary Magdalene. In depicting Christ’s life as a doubt-ridden struggle between his human and divine natures, Scorsese had intended to make a film that was at once an act of doubt and an act of faith. In the novel he was reading, the priest was shown profaning an image […]
Mike Mullen, the former chairman of the joint chiefs of staff, has voiced concerns about the temperament of Michael Flynn, the controversial retired army general who Donald Trump has chosen for national security adviser. Mr Mullen said Mr Flynn, who served as his top intelligence officer at the Pentagon, had been “highly regarded” in the military. But speaking at the Aspen Institute, he said he was less impressed by […]
Photo A cemetery on the outskirts of Gaziantep, Turkey. Grave No. 38487 holds the body of a 4-year-old girl who died of wounds she received when a shell containing sulfur mustard agent hit her home in Marea, Syria. Credit Bryan Denton for The New York Times WASHINGTON — The Islamic State has used chemical weapons, including chlorine and sulfur mustard agents, at least 52 times on the […]
When a man goes bankrupt it happens in two ways: first gradually, then suddenly. Those who look to financial markets for meaningful information about the future must accept the risk that the market may be wrong. The problem for those who place their faith in its predictive powers is that — like the bankrupt described by Ernest Hemingway — when investors discover they are wrong they too […]
A shift towards stimulative fiscal policy could help ease the burden on the Federal Reserve in supporting the US economy, the Fed’s vice president has said. Speaking in the wake of Donald Trump’s election to the White House, Stanley Fischer said productivity-enhancing government policy such as higher infrastructure spending would help “confront some of our longer-term economic challenges”. “Macroeconomic policy does not have to be confined to […]
Photo President Hassan Rouhani of Iran, center, at a welcome ceremony earlier this month in Karaj, just west of Tehran, has said that his country will remain committed to a nuclear deal with the United States and other world powers. Credit Office of the Iranian Presidency, via Associated Press TEHRAN — At first blush, the election of Donald J. Trump would seem to be bad news for […]
Dr. Omar, the last neurosurgeon in eastern Aleppo, who declined to provide his full name out of fear for his safety, sounded desperate when reached at the height of the bombing on Friday. Continue reading the main story “We no longer have hospitals to operate in,” he said. “You can’t imagine what it’s like living in Aleppo right now. It feels like we are living in hell. […]
The global bond market rout triggered by Donald Trump’s US election victory looks overdone, according to bond investors now betting that the sell-off was too violent and that borrowing costs will remain contained into the start of the new year. Mr Trump is expected to unveil a large, inflation-fuelling economic stimulus package of infrastructure spending and tax cuts, which has stoked fears of an end to the […]
ABU DHABI // Nepalese expatriates are worried that friends and family at home are being caught up in the currency crisis engulfing India. India and Nepal share a border and travel between them is free and easy, meaning many Nepalis who earn or accept Indian rupees are struggling to exchange their 500 and 1,000 notes since the bills were withdrawn on November 8. “We don’t have big […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on how Donald Trump’s election produced an abrupt change of mood in the markets and examines which assets will now benefit. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Was there a financial markets equivalent of the “shy” Trump supporter to explain […]
Angela Merkel has said she will seek a fourth term as German chancellor, less than two weeks after Donald Trump’s election in the US left her as the west’s pre-eminent liberal leader. The German news agency DPA reported that she had told the leadership of her CDU party, which is meeting in Berlin, that she would stand again as a candidate for chancellor and party leader. The […]
By David Henry | NEW YORK NEW YORK JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary. Dimon, 60, has been running the largest U.S. bank for more than a decade and has faced questions about his longevity in the role before: when […]
ABU DHABI // The UN High Commissioner for Refugees has praised the UAE’s pledge to take in 15,000 Syrian refugees, calling it an example for other countries to follow. “It is something I was very happy to hear in New York,” said Filippo Grandi, the UN high commissioner who was in Abu Dhabi on Saturday for the Sir Bani Yas Forum, at which the Middle East’s greatest […]
