Explainer: Lebanon’s financial meltdown and how it happened
Lebanon is grappling with a deep economic crisis after successive governments piled up debt following the 1975-1990 civil war with little to show for their spending binge.
Archegos fallout shows big banks need to be resilient, Swiss cenbank says
Losses from exposure to U.S.-based investment firm Archegos have demonstrated the need for “too big to fail” capital requirements to ensure adequate resilience at Credit Suisse (CSGN.S) and UBS (UBSG.S), the Swiss National Bank (SNB) said on Thursday.
‘Meme’ stock prices may not properly reflect demand -NYSE president
The prices of so-called meme stocks may be distorted because the majority of trades in those names are executed away from public exchanges where share price formation occurs, the head of the New York Stock Exchange said on Wednesday.
BOJ may start debate on stimulus retreat in 2023, former c.banker says
The Bank of Japan may be able to start debating ways to phase out its extraordinary stimulus programme, such as by ditching negative interest rates, in 2023, said former central bank executive Eiji Maeda.
Investors trim long positions on Asian currencies, yuan bets halved
Long bets on most of Asia’s emerging currencies were trimmed, a Reuters poll showed on Thursday, as investors weigh the prospect of tighter monetary settings as the U.S. recovery outperforms, while the COVID-19 situation locally is brought under control.
NZ economy surges as housing, retail drive post-COVID recovery
New Zealand’s economic growth swept past forecasts in the first quarter on the back of a housing boom and strong retail spending, avoiding a second recession and bringing forward expectations for tighter monetary policy.
Dollar hits two-month highs on Fed’s hawkish surprise; kiwi climbs after GDP
The dollar rose to its highest level in almost two months versus major peers on Thursday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a long-standing reference that the crisis was weighing on the economy. read more
Wall Street closes lower as Fed officials project rate hikes for 2023
The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.
World Bank rejects El Salvador request for help on bitcoin implementation
SAN SALVADOR, June 16 (Reuters) – The World Bank said on Wednesday it could not assist El Salvador’s bitcoin implementation given environmental and transparency drawbacks.
U.S. regulator delays VanEck ETF bid, seeks views on potential for manipulation
WASHINGTON, June 16 (Reuters) – U.S. regulators on Wednesday again delayed a decision on whether to approve an application for what would be the country’s first bitcoin exchange traded fund (ETF), filing a request for public consultation over concerns about market manipulation.
