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London’s FTSE 100 falls for sixth day as financials extend losses
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Britain’s bond market turmoil
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Analysis – Turbulent UK bond market may force BoE’s hand again
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Oil down on strong dollar, worries about recession and hawkish Fed talk
IMF fiscal chief underscores need for ‘orderly debt restructuring’
Date: October 12, 2022
By Andrea Shalal WASHINGTON (Reuters) – Rising debt levels and mounting fiscal pressures underscore the urgency for more “orderly debt restructuring” efforts to put low-income countries on a more sustainable path, the International Monetary Fund’s fiscal chief said on Wednesday. Fiscal Affairs Director Vitor Gaspar told reporters the problems facing low-income countries had been exacerbated...
EU’s debt laggards are hurting the fight against inflation, Austria says
Date: October 12, 2022
VIENNA (Reuters) -Excessive debt in some EU countries is hampering the fight against inflation, Austria’s finance minister said on Wednesday, adding that his country would soon press the worst offenders to get their affairs in order. Austria, a member of the EU’s self-styled “Frugal Four” alongside Denmark, Sweden and the Netherlands, has long pressured other...
Euro zone bonds drop as gilt market chaos rattles global investors
Date: October 12, 2022
By Amanda Cooper LONDON (Reuters) -Euro zone government bond yields rose on Wednesday, tracking weakness in the UK gilts market after the Bank of England governor gave pension funds and other investors three days to fix their problems before it withdraws support. The BoE has introduced an emergency bond-buying programme in response to a surge...
UK borrowing costs hit 20-year high as BoE sticks by bond deadline
Date: October 12, 2022
By Andy Bruce, William Schomberg and David Milliken LONDON (Reuters) -British government borrowing costs surged again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to fix liquidity problems before the bank ends emergency bond-buying that has provided support. Twenty and 30-year gilt yields both hit their highest...
Long-dated UK bond prices slide to new 20-year low
Date: October 12, 2022
By Andy Bruce LONDON (Reuters) -Long-dated British government bonds sold off heavily on Wednesday to reach their lowest ebb in 20 years, after Bank of England Governor Andrew Bailey told pension funds they had just three days to fix liquidity problems. Twenty- and 30-year gilt yields spiked to their highest level since 2002, both exceeding...
London gold body plans expansion to bring in more artisanal metal
Date: October 12, 2022
LONDON (Reuters) – The world’s most important certifier of gold refineries said on Wednesday it wants to recognise firms that gather and refine gold dug up by small-scale miners in developing countries. The move by the London Bullion Market Association (LBMA) aims to bring more gold into mainstream trade to try to improve conditions for...