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Even veterans accept we are at a historic juncture as inflation surges
Equity and bond markets appear to be imploding at the same time
Economic crisis deepens as nation misses interest payments on two international sovereign bonds
Foreign fund managers have sold $35bn worth of renminbi-denominated bonds in 2022
Sixth straight decline in FTSE All-World index reflects fear of inflation followed by recession
Investors sent to haven assets
Tech-heavy index down nearly 30% from record as inflation bolsters likelihood of aggressive Fed interest rate rises
‘Buy the dip’ mentality gives way to worries over tighter monetary policy and economic slowdowns
US central bank warns of ‘negative feedback loop’ if market liquidity deteriorates
Oil slides almost 6% after disappointing report on Chinese exports
And markets don’t like it.
Net inflows slide to $27bn in April from $117bn a month earlier
Japanese currency will find support at a time of rising global recession risks and structural threats to the dollar
Investors had priced in half-point increase after weeks of signalling by Fed chair
Warning comes after Treasury sell-off as Fed readies bumper rate rise
Borrowers including Italy face ‘double whammy’ of higher funding costs and slowing growth
Choppy moves on Wall Street come ahead of policymakers’ expected half-point rate rise
Fed policymakers face a ‘thick stew of uncertainties’ as they decide how much to raise rates
Capital-raising tool used in second world war should be deployed to aid the country
Unusual rise in failed trades in one week in April points to strains in the financial system
Central bank choices will always help some people more than others
Sanctions have constrained Moscow’s ability to meet bond obligations
Currency’s fall through ¥130 against the dollar follows central bank vow to keep bond yields at zero
Tesla falls sharply, while Treasuries rally as traders weigh implications of inflation and strict China lockdowns
Wall Street equities close higher following sharp falls in Europe and Asia as Covid worries hit Beijing
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