World stocks near record high, U.S. bond yields near 1-month low
World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus.
Russia’s high inflation shifts expectations for bigger rate hike on Friday
Russia’s unexpectedly high inflation in May prompted a wide-scale revision of forecasts, shifting market expectations towards a bigger 50 basis-point interest rate increase on Friday, a Reuters poll suggested on Wednesday.
Leading crypto exchanges scout entry into India despite potential ban
Global digital currency exchanges are exploring ways to set up in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the government in New Delhi dithers over introducing a law that could ban cryptocurrencies.
EXCLUSIVE Mexico not eyeing tax hikes in fiscal reform -deputy finance minister
Mexico’s government does not envisage tax increases in an upcoming fiscal reform plan, but will consider closing loopholes, improving taxing efficiency and expanding the taxable base, Deputy Finance Minister Gabriel Yorio said on Tuesday.
Brent oil benchmark hits 2-year high, WTI highest since 2018
Oil prices continued to rally on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.
Dollar teeters as inflation test looms
The dollar clung to a small bounce on Wednesday as traders looked to upcoming U.S. inflation data and a European Central Bank (ECB) meeting to gauge the global recovery and policymakers’ thinking.
UK pushes for financial services to be exempt from G7 global tax plan
British finance minister Rishi Sunak is pushing for financial services firms to be exempt from a new global tax system which was agreed last week by the Group of Seven (G7) economies, sources familiar with the negotiations said.
Bitcoin falls to 3-week low as IRS seeks approval for reporting rules
Bitcoin fell to a three-week low on Tuesday amid signs of institutional investor caution, while the head of the U.S. Internal Revenue Service called for lawmakers to provide authority for tighter reporting rules on crypto transfers.
No inflation fears here: ARK’s Wood says portfolio should triple in five years
Lower prices for growth stocks as a result of the inflation-driven selloff that began in February should mean that Ark Investment’s portfolios should see a “more than tripling” over the next five years, star fund manager and firm founder Cathie Wood said in a webinar on Tuesday.
Britain takes step to classifying ‘green’ investments
Britain has set up a group of experts to help it classify climate-friendly assets and stop “greenwashing” of investments that don’t live up to their sustainable credentials.
