The Bank of England’s decision to call time on almost two years of interest-rate increases is a signal that the risk of recession in the UK is fast replacing inflation as the chief concern for policy makers.
Municipal bonds joined a bond market rout after the Federal Reserve indicated the intention to keep interest rates high for as long as is necessary to curb inflation.
European natural gas prices surged after a drop in flows to the biggest US liquefaction terminal, underscoring the market’s continued sensitivity to supply risks.
Ares Management boss Mike Arougheti sees the $1.5 trillion private credit market doubling to $3 trillion within five years, with a great deal of that coming from banks’ balance sheets.
Japanese convenience-store operator FamilyMart has suffered a legal setback in its ongoing dispute with the billionaire majority owners of its Chinese retailing joint-venture.
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