Markets

Europe’s biggest gas field is set to close permanently in October, Bloomberg reported. The news sparked a 30% jump in benchmark European natural gas futures on Thursday. Earthquakes near the Groningen field in the Netherlands have damaged thousands of homes over the years. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading European natural gas prices soar 30% as key source to close permanently after hundreds of earthquakes

The Fed’s move to simultaneously hold interest rates and signal future rises may have been a strategy, David Rosenberg said.  The central bank managed to find a way to “tighten policy without tightening policy,” the top economist tweeted. The Fed left rates unchanged this week, but indicated it may raise them twice more before year-end.… Continue reading David Rosenberg says the Fed found a way to ‘tighten policy without tightening’ – by holding rates and signaling hikes at the same time

London-based hedge fund Odey Asset Management will break itself up, it said in a letter to investors Thursday. Its founder Crispin Odey was accused of sexual harassment by 13 women in a Financial Times investigation published last week. JPMorgan and Morgan Stanley both cut ties with the asset manager after the allegations broke. Loading Something… Continue reading London’s embattled hedge fund to be broken up as Wall Street banks cut ties over sexual harassment allegations

Even investors in China are bailing on Chinese markets and shifting their money overseas. Most of that Chinese money has been flowing into dollar assets, according to Bloomberg. Expectations that the Fed will keep rates high have added to the appeal of US bonds and deposits. Loading Something is loading. Thanks for signing up! Access… Continue reading Even investors in China are bailing on Chinese markets and putting their money in US assets instead

“The US inflation shock is over”, so the Fed need not hike interest rates any more, according to the chief economist of the Institute of International Finance. The IIF’s measure of “inflation generalization” has fallen to the lowest level since February 2021, Robin Brooks said.  US inflation has been steadily cooling from its mid-2022’s highs,… Continue reading The inflation shock is over so there’s no need for any more Fed rate hikes, the Institute of International Finance’s chief economist says

Elon Musk’s decision not to pay Twitter’s rent is causing pain for Goldman Sach’s commercial real estate portfolio, the FT reported.  Goldman was part of a group that originated a $1.7 billion loan to Columbia Property, the owner of several of Twitter’s offices. Columbia is suing Twitter for not paying rent, saying it owed over… Continue reading Elon Musk’s decision to not pay rent on Twitter’s offices is adding to commercial mortgage headaches at Goldman Sachs

The narrative behind Nvidia’s stock rally makes sense but its current share price doesn’t, according to Aswath Damodaran. The ‘Dean of Valuation’ thinks Nvidia would have to dominate the whole AI market to justify its current price.  There’s too little upside left to the chipmaker’s stock, the NYU finance professor told CNBC. Loading Something is… Continue reading ‘Dean of Valuation’ Aswath Damodaran says the story behind Nvidia’s stock surge makes sense but its current price doesn’t

Citadel founder Ken Griffin said he’s bracing for a US recession in a new interview, per Bloomberg. He also said he expects the Federal Reserve to raise interest rates once more in 2023. The billionaire added that he sees China growing more than 5%, even though its rebound has been muted so far. Loading Something… Continue reading Billionaire investor Ken Griffin says the US is still headed for a recession – but he’s bullish on China despite a disappointing rebound