HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: According to press reports, the UK and EU negotiators reached an agreement on a technical level on the terms of the Brexit divorce. The UK cabinet will meet today at 14:00 GMT to decide whether to approve the draft text. In reaction to positive news, the GBP firmed across the board but gains were limited on the view that the real hurdle for the UK government is not whether it can seal an agreement with the EU on the terms of the...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The GBP was under pressure across the board on mounting worries over a non-timely Brexit deal. Meanwhile, mounting Brexit jitters and concerns about a further increase in tensions between Italy and the European Commission over Italy’s 2019 draft budget pushed the EUR/USD to the lowest level since June 2017. Elsewhere, core government bonds were firmer today favored by global equity markets’ lackluster performance on the back of...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Awaiting the outcome of today’s US midterm elections (expected from 23:00GMT), the 10-yr UST yield was hovering around 3.20% in European trade at the time of writing, not far from this year’s peak of 3.26% recorded in early October on the back of lingering expectations for further Fed rate tightening ahead. Meanwhile, Italy’s government bond yields were higher with Eurozone finance ministers calling Italy at yesterday’s Eurogroup to...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: US non-farm payrolls for the month of October surprised on the upside adding to the view for further gradual Fed rate hikes in the period ahead. In FX markets, the GBP extended its recent gains against both the USD and the EUR amid increased optimism for a withdrawal deal. Meanwhile, market sentiment towards risk assets remains cautious on market uncertainty over whether US President Donald Trump and Chinese President Xi Jinping,...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In line with market expectations, late on Friday S&P revised its outlook on Italy to negative from stable and affirmed the rating at BBB, two notches above non-investment grade. Market relief on the back of no ratings downgrade boosted Italy’s sovereign bonds. In FX markets, the DXY index retained a positive tone standing close to Friday’s multi-week peak in reaction to positive US Q3 GDP data. Today the UK Chancellor will deliver...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Taking their lead from weaker Asian bourses earlier today, major European equity markets opened lower in early trade on Friday pressured by a string of mixed US corporate earnings results, concerns over global growth on the back of lingering trade frictions between the US and China, the likelihood of a more aggressive than currently expected Fed rating tightening ahead and Italian budget woes. Favored by their safe-haven appeal, core...
Valentin Kardamski.
The Women of the 20th Century: Valentin Kardamski’s dramatic portraits on show in London
By James Brewer
Dashing portraits in acrylics of two dozen of the most recognisable female faces of the 20th century are on display in a new show in London.
They introduce dramatically to the UK the talent of Valentin Kardamski, who is a journalist, public relations adviser to the Bulgarian Socialist Party, and… celebrated painter in his homeland. It is his first exhibition in London; all...
http://www.allaboutshipping.co.uk/2018/10/23/the-women-of-the-20th-century/
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: German government bonds were firmer in early European trade on Friday and the EUR/USD came under renewed pressure amid mounting worries over a possible rise in tensions between the Italian government and the EU Commission. In the first formal step of a procedure that could lead to the EU Commission rejecting Italy’s 2019 draft budget and strengthening sanctions in the form of a 0.2% of GDP fine, the EU Commission sent a letter to...
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WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The Christian Social Union (CSU), the sister party of Chancellor Angela Merkel’s Christian Democratic Union (CDU) in Bavaria, suffered big losses in the elections of that state on Sunday 14 October. CSU defeat does not bode well with the CDU’s performance in the Hessian state election on 28 October and, according to some reports, a poor result could potentially lead Angela Merkel to reconsider staying in office as CDU leader and as...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Focus today is on global equity markets’ performance after Wall Street’s sharp losses overnight fueled by a sharp drop in technology stocks, led to a generalised risk-off sentiment. Favoured by equity markets’ sell-off, core government bond markets gained with yields down across the curve. In FX markets, the USD was weaker across the board weighed down by US stock market’s lacklustre performance overnight. In the meantime, the CHF...