
Pound Slides to Six Month Low as BOE Rate Hikes Grind to Halt
The pound slumped to a six-month low and gilts fell on worries the Bank of England is being too timid in its fight against inflation, setting the nation’s assets up for further losses.
The pound slumped to a six-month low and gilts fell on worries the Bank of England is being too timid in its fight against inflation, setting the nation’s assets up for further losses.
Applications for US unemployment benefits fell to the lowest level since January last week, indicating a healthy labor market that continues to support the economy.
John Miller, who managed the municipal-bond market’s largest junk mutual fund at Nuveen until earlier this year, will join First Eagle Investments in January to build a muni department from the ground up.
Oil erased an earlier decline after Russia said it would ban gasoline and diesel exports from Thursday.
The Bank of England will step up the pace it’s unwinding its quantitative easing portfolio of bonds, reversing a vast stimulus program it deployed through the financial crisis and pandemic.
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