Currencies
For a mere 0.76 francs a share less than a dollar Credit Suisse would stop shedding its problems around the world.It s happened before. The Bloomberg Dollar Spot Index traded near its lows of the day, boosting the Japanese yen and British pound. The dollar slipped, while U.S. gold futures rose. The U.S. dollar slipped, while U.S. gold futures rose.
Metals
Gold reversed earlier gains and oil fell, while Bitcoin climbed for a fifth straight day. Ethereum is often a high-beta Bitcoin, but this is looking like a “flight to digital gold” for now.
Oil
International Petroleum Corp: The oil company could add carbon capture and storage (CCS) to the plant if more government financial incentives become available, its CEO told Reuters. Geneva-based IPC, part of Sweden’s Lundin Group, sanctioned phase one of the 30,000 barrel-per-day (bpd) Blackrod thermal project in northern Alberta last month. Oil prices fell to their lowest in 15 months on demand concerns. Tanker giants | At a downtown office block in Mumbai, packing tape peels off a black door whose handle appears to have been ripped out.
It created last minute tumult with oil-producing nations and sparked protests.
It created last minute tumult with oil-producing nations and sparked protests.
United States
Today we look at the Fed s need to account for a credit crunch in deciding whether a further interest-rate hike is needed this week, View in browser Hello. The balance of risks have shifted, said Daleep Singh, chief global economist for PGIM Fixed Income and former markets chief at the New York Fed. UBS also said it would shrink the investment bank, and you can be sure that there are many people at the two companies who are doing the same job. UBS shares fell, in their biggest one-day fall since 2008, amid concerns among investors about the long-term benefits of the deal and the outlook for banks in Switzerland.
In a package engineered by Swiss regulators on Sunday, UBS will pay $3.23 billion for 167-year-old Credit Suisse and assume up to $5.4 billion in losses. UBS Group estimated that smaller and regional banks hold about 18% of US debt, including some 39% of commercial real estate (CRE). Coming up At 11:30 a.m., the US will sell $57 billion of 13-week bills and $48 billion of 26-week securities.
Need-to-Know Research Economists are just starting to put pen to paper on calculating the impact of the credit crunch now starting in the US. An adverse reaction to the details of the deal in Europe could ensure the Fed stands pat, wrote Krishna Guha and Peter Williams at Evercore ISI. The US’s climate legislation passed last August hopefully keeps that target in play.
In a package engineered by Swiss regulators on Sunday, UBS will pay $3.23 billion for 167-year-old Credit Suisse and assume up to $5.4 billion in losses. UBS Group estimated that smaller and regional banks hold about 18% of US debt, including some 39% of commercial real estate (CRE). Coming up At 11:30 a.m., the US will sell $57 billion of 13-week bills and $48 billion of 26-week securities.
Need-to-Know Research Economists are just starting to put pen to paper on calculating the impact of the credit crunch now starting in the US. An adverse reaction to the details of the deal in Europe could ensure the Fed stands pat, wrote Krishna Guha and Peter Williams at Evercore ISI. The US’s climate legislation passed last August hopefully keeps that target in play.
China
Baidu’s Apollo service will deploy 10 fully autonomous vehicles in a technology park developed by the government of Beijing, the Chinese ride-hailing giant said in a statement. STOCKS TO WATCH Baidu Inc: The company and Pony.ai said on Friday they have won permits to provide fully driverless ride-hailing services in the Chinese capital of Beijing. A pharmacy in Beijing, China, on Thursday, Jan. 19, 2023.
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