Currencies
Speculators bet the pound is heading to parity with the dollar, Goldman goes underweight stocks, it s selloffs as far as the e View in browser Good morning. The pound s collapse against the dollar hogs the attention, but is driven in large part by the phenomenal strength of the greenback . The S&P 500 just sank to the lowest since December 2020 as the pound weakened to records, while commodities buckled under the weight of a hulked-up dollar. The implied volatility on DXY (the dollar index) is rising and is the highest it has been since Covid.
Stronger dollar, also not surprising.
Stronger dollar, also not surprising.
Oil
But setting an oil-price cap as agreed by G-7 leaders seems more elusive and will need more time.
United States
Meanwhile, the UK cash rate is expected to hit almost 6% in a year, more than a percentage point above the 4.7% or so priced for the Fed. The Fed is not a surprise.
Europe
Internet Infrastructure | The EU wants streaming sites like YouTube and Netflix to help pay for internet infrastructure.
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