The pound will tumble to levels not seen since 2017 against the euro as Brexit turmoil outweighs a dovish European Central Bank, according to analysts.
The Pound Looks Even Worse Than the Euro
Oil mixed on crude demand fears and U.S.-Iran tensions
NEW YORK (Reuters) – Oil prices were mixed on Monday as market concerns about the possibility of a conflict between the United States and Iran eased, while worries about declining crude demand resurfaced.
Benchmark Brent crude futures settled at $64.86 a barrel, losing 34 cents, or 0.5%. U.S. crude futures settled at $57.90 a barrel, rising 47 cents, or 0.8%.
Central Banks Are Ready to Pounce
The most powerful central banks stand ready to add a big dose of stimulus to the global economy. They’re preparing to take action as the U.S.-China trade war threatens to slow global growth. (Video by Wes Goodman and Eric Lam) (Source: Bloomberg)
Source: https://www.bloomberg.com/news/videos/2019-06-24/central-banks-are-ready-to-pounce-video
Business services like Zoom and Slack make for better listings
In technology, as in life, history doesn’t repeat itself. But it does rhyme. The share price of Chewy, an online pet-food retailer which has just listed in New York, shot up by more than 50% on June 14th, its first day of trading. To seasoned investors it brought back memories of Pets.com, Chewy’s ill-fated predecessor, which collapsed nine months after it debuted on the Nasdaq exchange in February 2000. It became emblematic of the first dotcom bubble, when loss-making startups fetched stratospheric valuations—until they didn’t.
10-year Treasury yield drops as low as 1.97%, first time below 2% since November 2016
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 overnight after the Federal Reserve on Wednesday signaled rate cuts were likely on the way.
The yield on the 10-year Treasury note fell to a low of 1.974% before rebounding slightly to 2.01% as of 4:10 p.m. ET Thursday. The yield on the 2-year note also trimmed its decline to trade at 1.757%, just above its lowest level since November 2017 of 1.7% clinched earlier in the session. The 3-month bill yielded 2.131%, 11.6 basis points more than that of the 10-year yield.
Japan’s Lesson for the Fed: No Central Bank Is an Island
In the rally currently roaring through the global bond market, Japan is being left behind, exposing the key flaws in its unique monetary policy platform.
The Fed, which is discussing potential changes to its policy framework, should look closely at the shortcomings of the Bank of Japan’s flagship “yield curve control” policies.
Greece: Magnitude 4.2 aftershock strikes close to Athens
A magnitude 4.2 earthquake has struck not far from Athens and seismologists say it was an aftershock from a stronger quake more than a week ago.
The Athens Institute of Geodynamics said Sunday’s earthquake happened at 7:09 p.m. and was centered 21 kilometers (13 miles) northwest of the Greek capital. It was felt throughout the Athens area but there have been no reports of damage.
The rule of law in Hong Kong
Three things stand out about the protesters who rocked Hong Kong this week. There were a great many of them. Hundreds of thousands took to the streets in what may have been the biggest demonstration since Hong Kong was handed back to China in 1997. Most of them were young—too young to be nostalgic about British rule.
Here’s to nattō, Japan’s original superfood
Remember when you would step out to the スーパー (sūpā, supermarket) just to pick up some 卵 (tamago, eggs), 牛乳 (gyūnyū, milk) or 砂糖 (satō, sugar)? Well, these days you’re just as likely to pick up スーパーフード (sūpāfūdo, superfoods) from the スーパー as you are your daily necessities.
The shopping lists of health-conscious consumers are likely to include products such as ココナッツオイル (kokonattsu oiru, coconut oil), チアシード (chia shīdo, chia seeds) and アサイー (asaī, acai), but health-conscious Japanese are likely to stick with one staple that has done them well for centuries: 納豆 (nattō, fermented soybeans).
Michelin and GM are working on a puncture-proof tire
New York (CNN Business)Michelin and General Motors have teamed up to literally reinvent the wheel.
The two companies have rolled out a new airless wheel prototype to replace traditional tires that are filled with air and prone to puncturing.
It’s called the Uptis Prototype, which stands for “Unique Puncture-proof Tire System.” GM and Michelin unveiled the new tire at an event Tuesday in Montreal.
Landmark Financial Seoul Korea Blog 