.US equity-index futures and European bonds fell as investors worried about the twin threats of dwindling economic growth and stubborn inflation.
US equity-index futures and European bonds fell as investors worried about the twin threats of dwindling economic growth and stubborn inflation.
World stocks and bonds are in the grip of the worst selloff in at least three decades as increasing chances of a US -- or even global -- recession are spooking investors. At the same time, sticky inflation has left little room for the Federal Reserve to apply brakes on monetary tightening. This toxic combination presents markets a trading challenge not seen since the late 1970s.
The MSCI All-Country World Index, the global benchmark, plunged 21 per cent in the first half, the worst year-to-date losses since at least 1988. Similarly, the 14 per cent loss in the Bloomberg Global Aggregate Index of investment-grade debt was its worst performance since 1990, the earliest date for which records are available.
Italian bonds slid before a meeting between Prime Minister Mario Draghi and Five Star leader Giuseppe Conte to settle weeks of political tensions. The nation’s 10-year yield jumped 12 basis points to 3.21 per cent, widening its spread over German bunds to 1.90 percentage points.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vermilion rallies amid upgrade on European natural gas exposure - BNN BloombergAnalysts at Scotiabank have upgraded Vermilion Energy on the basis that rising European natural gas prices and a declining stock price should set the company up for higher cash flow and a more attractive valuation.
Read more »
G7 leaders favour LNG investment in U-turn due to energy crisis - BNN BloombergInvestments in liquefied natural gas -- already booming as Europe seeks to cut its energy dependence on Russia -- are set to get another boost, even amid longstanding climate concerns.
Read more »
IBM Canada promises 250 tech jobs for Calgary with creation of innovation centre - BNN BloombergIBM Canada says it will establish a new Client Innovation Centre for Western Canada in downtown Calgary.
Read more »
Couche-Tard says inflation may be contributing to rise in black market smokes - BNN BloombergAlimentation Couche-Tard suspects that the rising cost of living may have contributed to a surge in cigarette smuggling into Canada.
Read more »
Corus CEO says company's portfolio designed to withstand recessionary pressures - BNN BloombergCorus Entertainment's chief executive said a recession is something he is 'confident' the company can manage through.
Read more »
Selloff in Canadian bank shares likely not over yet: Analyst - BNN BloombergShares of Canadian banks are likely to come under further pressure during the second half of this year, according to a veteran Bay Street analyst.
Read more »