Oil shocks no longer hit the US economy as they used to
Recent disruptions to global oil markets, from Russia’s invasion of Ukraine to the war in Iran, have revived fears of stagflation. This column shows that
Financing the AI boom: Winners and losers in corporate bond markets
The expansion of artificial intelligence has triggered a surge of investment and rising equity values at technology firms. The largest firms, known as ‘hyperscalers’, issued
Fed’s Williams sees no urgency for next Fed rate hike
Fed’s Williams says there’s time to parse data before raising rates again Federal Reserve Bank of New York President John Williams said on Tuesday that
Bonds set for bruising September; stocks fare better
MSCI’s broadest index of Asia-Pacific shares excluding Japan rose 0.2% in early trading. Global bonds wobbled on Wednesday and were set for their worst month
Anatomy of a supervisory failure
For its entire 15-year life as a regional bank until its collapse in 2023, Silicon Valley Bank held the same risky bet. This column argues
Foreign currency funding risk and global financial stability
The Credit Suisse crisis in 2023 demonstrated that foreign currency funding vulnerabilities remain material even in advanced, well-regulated financial systems. This column introduces a new
Gold falls as fading Middle East peace hopes lift dollar, oil
Trump to visit China this week, to discuss Iran with Xi. Gold fell from a three-week high hit earlier on Tuesday, as slim hopes of
How the Fed makes decisions: Disagreement, beliefs, and the power of the Chair
Federal Open Market Committee statements typically sound unanimous, but the Committee’s internal debates rarely are. This column analyses historical meeting transcripts to show that policymakers
Gold falls as commodity index rebalancing sparks selling pressure
Spot gold fell 0.6% to $4,428.06 per ounce, as of 1115 GMT. U.S. gold futures for February delivery fell 0.6% to $4,436.30. Gold prices fell
Sterling drops as inflation cements BoE cut expectations, dollar up before US inflation
British consumer price inflation fell to 3.2% in November, its lowest since March, from 3.6% in October, official figures showed. Sterling fell on Wednesday after
