Open: London Session | Forex, Metals, Oil, Agriculture October 14, 2022



Many emerging markets still rely on dollar-denominated debt.

United States

Indeed, the British financial high noon comes a day after data from the US showed core measures of inflation continuing to rise and hitting 40-year highs. That s quite remarkable on the back of the worst inflation numbers in 40 years, and alas gives the Fed more reason to press on with monetary tightening. P.P.S., the US Stock Market Having established that the inflation numbers were terrible, it follows of course that the stock market sold off, which it did.
Having fallen a long way fast, and with the US economy still growing, there was still appetite to buy out there. Bond prices in countries as different as the US and Italy have veered in response to each fresh move in gilts, and each news story out of Britain. Reversal for the Ages It was a stock reversal for the ages: A near-uniform plunge followed by an everything rally made for a dizzying day on Wall Street. P.S., US CPI… As you may have heard, the US government published inflation data for September yesterday.


The mother of all U-turns is coming in the UK, a dizzying day in the markets, the ECB balance sheet, protection in private mar View in browser Good morning. ECB hawks have effectively dictated the momentum of monetary policy since early June, a dominance over decision-making that suggests their opinions might well continue to hold sway. A consensus is emerging among some Governing Council members that the process of shrinking should run in the background while the ECB focuses on setting borrowing costs.
Meanwhile, approval of the digital tax, championed by the EU, could face further turbulence after the mid-term elections. Politically, the current government was elected under Boris Johnson in 2019 on a manifesto of leveling up and helping the working class. ECB S Robert Holzmann speaks at a conference.