Page 4 - Ryan Mcmorrow News Today

The S&P500 jumped 4.0% this week, boosting the index’s two-week rally to 8.9%. UK 10-year gilt yields sank 58 bps this week to 3.78%, with yields down 116 bps from October 12th highs.

A supersized interest rate hike from the Federal Reserve on Wednesday will come amid a flurry of closely watched data releases.

CPI was up 9.1% y-o-y in June, the highest rate, as we all know by now, since 1981. Read more.

The FOMC hiked rates 75 bps Wednesday, the largest rate boost since Greenspan’s lone 75 bps move more than 27 years ago (November 1994). For anything bigger, it’s back to the Volcker era.

CPI surged to over 8% YoY and has been above the Fed's 2% target now for 15 months - yet the target policy rate is today at only 0.75% to 1.0%.

Beijing prodding may have reversed much of the week’s equities market pain, though I doubt positive sentiment will return anytime soon. Click here to read a weekly update.

Furious interventions by Russia’s central bank as well as rising oil and gas prices that have boosted its energy revenue have helped keep the currency afloat.

The White House said it was sticking by Sarah Bloom Raskin, Biden’s pick to be the Federal Reserve’s vice chair for supervision, after Manchin and Collins said they would not support her.

The vanishing billionaire: How Jack Ma fell foul of Xi Jinping 25 minutes to read By: Ryan McMorrow and Sun Yu Alibaba founders dramatic rise and fall illustrates Chinas wary embrace of tycoons who power economic growth. Chinas most outspoken billionaire has gone silent. No one has seen Jack Ma at the business school he founded. Nor at his tai chi studio. His raucous speeches headlining an annual meeting of entrepreneurs in his home province of Zhejiang have been put on hold. ...

Beijing hints at truce in war on Jack Mas business empire 14 Apr, 2021 05:43 AM 5 minutes to read Jack Mas Ant Group will be forced to impose tough remedies following a Beijing-ordered restructuring. Photo / Getty Images Jack Mas Ant Group will be forced to impose tough remedies following a Beijing-ordered restructuring. Photo / Getty Images Financial Times By: Tom Mitchell, Ryan McMorrow and Yuan Yang The contours of a possible truce between Beijing and Jack Mas internet empire are beginning t...