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Sunday 17 December 2017

2017-10-08

[I] Ellen Johnson Sirleaf Touts Legacy As She Prepares To Step Down  

2017-04-20

[I] Drug given to pregnant women causes 'serious malformations'

2017-01-23

[I] $11m Missing From The Gambia's State Coffers After Jammeh Exile

2016-11-16

[I] Brexit vote not legally binding

2016-11-15

[I] ‘Trump dump’ bill hits $1.2trn
[I] Anti-Trump protests rage on after attackers are charged
[I] Strategy chief is branded a racist, fascist misogynist

2016-11-14

[I] ‘Prediction professor’ who called Trump’s big win also said Trump will be impeac

2016-11-12

[I] I won’t be surprised if Trump is impeached – Kweku Baako

2016-11-11

[I] Statisticians put value of household chores through the wash

2016-11-10

[I] Hillary Clinton lost the election but is winning the popular vote
[I] Thousands take to the streets to protest Trump win
[I] Hillary Clinton delivers painful concession speech
[I] The world comes to terms with President-elect Donald Trump

2016-11-08

[I] The world’s attention on USA elections

2016-10-31

[I] Woman buys house by getting 20 boyfriends to get her an iPhone

2016-09-28

[I] Counterfeit drugs: 'People are dying every day'

2016-09-26

[I] Syria conflict: US and UK speeches 'unacceptable' - Russia

2016-09-01

[I] Gabon Parliament Set On Fire After Disputed Elections

2016-08-05

[I] I have stolen only four cars this year – Muslim Cleric

2016-03-31

[I] SA court rules Zuma breached constitution

2016-03-15

[I] Nigerian oil revenues of $16bn 'missing'

2016-01-05

[I] Tanzanian President forces officials to sign public integrity pledge

2015-12-30

[I] Former Banker sworn in as Burkina Faso President

2015-12-28

[I] Man sentenced to death by hanging in Malaysia for drug trafficking

2015-12-18

[I] Saudi Arabia to behead 15- year- old boy for attending protest

2015-12-10

[I] World running out of oil storage space

2015-12-08

[I] Oil price could hit $20 as Opec ditches quotas
[I] ‘Tube attacker had mental health issues’

2015-11-23

[I] Tragic baby 'cooked alive'

2015-07-26

[I] Lord resigns and faces police probe

2015-05-25

[I] Hackers leave Uber users billed for fake cab rides
[I] Greece cannot pay IMF, says minister

2015-05-24

[I] US Governor paves way for rise in interest rates
[I] Catholic Church left reeling by Ireland’s stunning vote for gay marriage
[I] Beautiful Mind maths virtuoso John Nash killed in taxi crash

2015-04-29

[I] Nigeria's army 'rescues 200 girls from Boko Haram stronghold'

2015-04-28

[I] Apple to give its investors a $70 billion golden payday
[I] Nepal quake toll could reach 7,000

2015-04-24

[I] Deutsche Bank pays record $2.5bn fine for Libor manipulation
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International

[ 2016-11-15 ]

Donald Trump’s victory in the US presidential election has triggered uncertainty in the financial markets

‘Trump dump’ bill hits $1.2trn
The bond market sell-off triggered by the US
election has led to losses around the world
hitting $1.2 trillion as yields rise sharply on
fears of inflation.

Fixed-income investors have been caught on the
wrong side of the so-called “Trump dump” after US
Treasury debt prices fell by eight points in
dramatic moves over the past week.

The fall means that ten-year government bonds have
lost about a fifth of their value since the summer
as yields have risen above 3 per cent for the
first time this year. The decline will hit pension
funds, which are heavily exposed to the bond
market.

Vanguard Total Bond Market, the world’s largest
bond fund with more than $100 billion of
investors’ money under management, has fallen by
more than 1.5 per cent over the past four days as
the yield on two-year Treasuries nudged about 1
per cent.

The expectation that Donald Trump would embark on
a spending spree strengthened the dollar against
other leading currencies. It rose by 1 per cent
against sterling, which fell below $1.25.

“Clearly the market has settled on a ‘buy dollar’
theme on the basis there will be a debt-fuelled US
fiscal binge that will push up inflation,” Ned
Rumpeltin, of TD Securities, said.

Goldman Sachs warned that the president-elect’s
plans could encourage growth but posed longer-term
risks for the US economy. “Other proposals could
lead to new restrictions on foreign trade and
immigration, which could have negative
implications for growth, particularly over the
longer term,” analysts at the bank wrote.

Capital Economics bumped up its forecasts for
European government yields, though it added that
monetary policy on the Continent would remain
“very accommodative for a long time”.

“If anything the tighter monetary environment
resulting from the resurgence in bond yields may
end up giving the ECB cause to loosen monetary
policy further and the Bank of England room to be
patient, even as the Fed resumes its tightening
cycle,” Capital said.

Stock markets made cautious gains yesterday. The
FTSE 100 gained 22.75 points to close at 6,753.18
and in New York the Dow Jones index closed 21
points higher at a record 18,868.

Mark Dowding, partner and co-head of
investment-grade debt at BlueBay Asset Management,
said that the US economy appeared to be in
“reasonable shape” but that the questions raised
by Mr Trump’s victory would continue to weigh on
markets. “We feel that we have stepped into an
uncertain and unpredictable world . . . we can’t
help but think that what we have witnessed is
historic and will potentially shape the investment
landscape for months and quarters to come,” Mr
Dowding said.

Moody’s reported that just over a quarter of the
134 governments for which it provided ratings had
a “negative” outlook. This compared with 17 per
cent a year ago and was the highest proportion for
four years.

“The key drivers of the negative outlook are a
combination of continued low growth, a shift
towards fiscal stimulus that will increase already
high public sector debt and rising political and
geopolitical risks,” Moody’s said.

Source - The Times



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