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Downfall

The UK economy will enter recession from Q4 2022, - Fitch

The UK economy will enter recession from Q4 2022, - Fitch

Fitch also predicts that UK GDP will shrink by 1% in 2023, although previously the size of the fall was projected at around 0.2%. The reason: sharp increases in UK interest rates. And also the unwise budget policy of the new prime minister, which led to a record fall

Britain's currency decline came as a shock to global financial markets

Britain's currency decline came as a shock to global financial markets

The fall of the national currency of Britain has caused a shock on the world financial markets. Markets in the U.S. and the EU showed sharp price fluctuations after the Bank of England announced an emergency bond purchase. The regulator is doing this in order to slow down the

The National Bank of China has lowered the yuan-dollar exchange rate to a two-year low

The National Bank of China has lowered the yuan-dollar exchange rate to a two-year low

The National Bank of China (central bank) on Monday lowered the average exchange rate of the yuan to 7.0298 to one dollar, according to data on the regulator's website. According to the bank, this is the lowest value of the exchange rate since July 2020. The yuan exchange rate

Pandemic caused a spike in U.S. residential real estate prices

Pandemic caused a spike in U.S. residential real estate prices

The Fed study concludes that the shift of employees to remote work caused by the COVID-19 pandemic has triggered an increase in real estate prices. Fed experts say that the pricing of the real estate market has changed since 2020. The "remoteness factor" is now one of the key drivers

ESG is "dying." U.S. banks are pushing oil and gas financing

ESG is "dying." U.S. banks are pushing oil and gas financing

Big U.S. banks such as Goldman Sachs and JPMorgan Chase are stepping up lending to commodity companies, including those in the oil and gas sector. Republicans accuse the banks of hurting the U.S. economy and commodity states in particular by reducing lending to "non-green" sectors. West Virginia last

Bitcoin is down more than 10% and trading around $20,000

Bitcoin is down more than 10% and trading around $20,000

Like all high-risk assets, bitcoin has reacted strongly to the inflation data. The Fed's upcoming 0.75-1% rate hike could cause an even deeper outflow of funds from crypto. Meanwhile, the Nasdaq is already down 5%.

U.S. trade balance in deficit by $70.7 billion, previously -$79.6 billion - deficit narrowed by 12%

U.S. trade balance in deficit by $70.7 billion, previously -$79.6 billion - deficit narrowed by 12%

The dollar is rising in value on the data. A strong dollar will have a negative impact on U.S. stock prices today. Earlier we explained how the trade balance affects the exchange rate.

From 1 October the Bank of Russia restricts sales of securities of "unfriendly" countries to unqualified investors, says the regulator

From 1 October the Bank of Russia restricts sales of securities of "unfriendly" countries to unqualified investors, says the regulator

From 1 October 2022 brokers will not execute non-qualified orders for purchase of securities of issuers from unfriendly countries if the share of such securities in the portfolio of the investor exceeds 15%. From November 1, 2022 the threshold for such transactions will be 10% of the portfolio of the

EU inflation in August +9.1% vs +8.9% in July, forecast 9%

EU inflation in August +9.1% vs +8.9% in July, forecast 9%

The month-on-month change is +0.5% vs. +0.1% in July and expected +0.4%. Eurozone bond yields are making new highs. The probability of ECB rate increase by 0.75% is increasing. A more aggressive ECB policy increases the chances of a recession.

40% of Russians can't save money, VTsIOM poll

40% of Russians can't save money, VTsIOM poll

44% of Russians spend first on current needs and then save. Only 14% save first and then spend. The rest have insufficient funds. Those who do save save save, save in cash rubles (22%), place it on a time deposit (19%) or a checking account (12%), and invest it in