Good morning, it’s Georgie here in Sydney. Here’s what you need to know today… Today’s must-reads:• Lithium rush heats up with SQM’s $1 billion Azure buy• RBA staff threaten strike over pay• US stocks drop on a rout in Big Tech, Aussie futures flat Australia’s lithium frenzy continues with mining giant SQM winning over Perth-based … Read more
Federal Reserve Bank of San Francisco President Mary Daly said the neutral interest rate could be higher now than before the pandemic, though rates would not stay as high as they are now indefinitely. “5% is not going to be the new neutral. There’s no evidence that that will be the new neutral — that’s … Read more
Gold-Backed Digital Currency Is Zimbabwe’s Way to Sway Love for … Bloomberg Source link
Federal Reserve Bank of Dallas President Lorie Logan said the recent surge in long-term Treasury yields may mean less need for the US central bank to raise its benchmark interest rate again. “Higher term premiums result in higher term interest rates for the same setting of the fed funds rate, all else equal,” Logan said … Read more
Good morning and welcome back, it’s Ainsley here with all the news you need to start your week. We promise not to mention the rugby… Today’s must-reads:• Michele Bullock takes over today at the RBA• Chevron LNG union stoppages continue• NZ may get first female finance minister in 30 years Michele Bullock beat other candidates … Read more
Fed Jackson Hole News 2023: Harker, Bullard, Collins Speak on … Bloomberg Source link
Two Federal Reserve officials said policymakers may be close to being done with interest-rate increases, but one held back from ruling out further hikes until inflation is more clearly on a downward path. “We may need additional increments, and we may be very near a place where we can hold for a substantial amount of … Read more
Borrowing activity in the federal funds market is signaling that stress in the US banking system hasn’t fully gone away. Although a decline in total volume suggests the overall need for excess cash has lessened, the spread between what borrowers at the highest percentile of the daily fed funds distribution have to pay and those … Read more