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It is the financial equivalent of the nuclear option – something the Biden administration had explicitly declined to invoke last week before abruptly announcing the move on Saturday.
Wheat Prices Soar to Highest Since 2008, Trade 'Limit Up' on Potential Russia Supply HitMar 1, 2022 - 07:05:16 PST
Russia is the largest exporter of wheat and Ukraine is among the top four biggest exporters of the commodity, according to JPMorgan.
U.S. Oil Jumps to 7-Year High Above $102 a Barrel As Russian Assault Prompts Supply Shortage FearsMar 1, 2022 - 07:04:18 PST
Oil prices surged Tuesday, with U.S. crude hitting its highest level since July 2014 as Russia bears down on Ukraine's capital.
Visa and Mastercard Block Russian Banks From Their Networks After SanctionsMar 1, 2022 - 07:03:20 PST
Governments from around the world have imposed a series of sanctions aimed at cutting off Moscow from the global financial system.
Gold demand in the technology sector rebounded rapidly in 2021 after falling the prior year due to economic lockdowns and the pandemic.In 2021, tech sector gold demand grew by 9% to 330 tons with year-on-year growth in all four quarters, according to data from the World Gold Council. Tech demand in 2021 was about equal to pre-pandemic levels in 2019.
Concerns are growing about whether the financial chaos may damage global economic growth or require action by the U.S. Federal Reserve to supply dollars.
“Escalation of Russia-Ukraine conflict generates high demand for gold,” Daniel Briesemann, an analyst at Commerzbank AG said in a note.
LONDON (Reuters) -SWIFT said on Tuesday it was waiting to see which banks authorities want disconnected from its global financial messaging system as sanctions in response to Russia's invasion of Ukraine are rolled out. The European Union, the United States, France, Germany, Italy, Canada and Britain...
Economic sanctions serve as a powerful foreign policy tool for the US government. But could this ultimately backfire on the US?Over the last several years, many countries have made a concerted effort to limit dependence on the US dollar. The economic warfare waged against Russia reveals exactly why.
But the Fed is suddenly finding itself in a bind. Whereas the world's biggest central bank has been focused for months on curbing a surge in inflation sparked by supply chain snags and robust consumer demand, it had not factored in a fallout from a major war.
Euro Zone Yields Fall As ECB Rate Hike Bets Ease Further, Focus on InflationMar 1, 2022 - 05:21:03 PST
Euro zone bond yields continued to fall on Tuesday as traders further reduced their bets on rate hikes from the European Central Bank this year. Euro zone money markets were pricing in around 25 basis points of hikes in total by December, down from around 30 bps of hikes priced in on Monday, which was already down...
Oligarchs with close ties to Britain have been sanctioned by the European Union in a move that will increase pressure on the government to step up its economic measures against Russia-linked individuals.
Jamie Dimon Warns SWIFT Sanctions May Bring Unintended Consequences, Can Be CircumventedMar 1, 2022 - 05:13:50 PST
In an interview with Bloomberg TV, the CEO of the world's largest bank said that "there are a lot of workarounds for SWIFT, so there are different tools we use for different reasons" adding that “the banks are talking with the government so everyone understands the issues, not because they’re for or against any particular thing."
China’s central bank could provide a financial lifeline to Russia if Beijing decides to buck Western efforts to cut its strategic partner out of the global financial system.
Recession risks are rising and a bear market may be settling in, says BofA, suggesting investors load up on cash and commodities.
Official interest rates in Australia were held steady at record lows on Tuesday after the country's central bank reiterated that it will be patient, awaiting confirmation that inflation has returned sustainably to its desired 2%-3% target band before tightening policy settings.
A chunk of Russia’s wealth is likely to fall outside the net, something EU foreign policy chief Josep Borrell acknowledged over the weekend. More than a fifth of the total was stored as monetary gold in Russia as of June 30, 2021, and another 13.8% was in China, according to the latest available data.
The value of the Ruble falling along with the imposed sanctions is expected to have a catastrophic reaction on the country’s economy.
None of that bodes well for the president, as he prepares to lay out his agenda for the coming year, while many rank and file Dems are still mourning the death of 'Build Back Better'.
Stock Futures Point To Lower Open As Russia Intensifies Attacks on UkraineMar 1, 2022 - 04:51:36 PST
U.S. stock futures fell in pre-market trading Tuesday following another volatile day on Wall Street as investors weighed intensifying Russian attacks on Ukraine and an onslaught of new sanctions by the West against the likelihood geopolitical uncertainty could knock the Federal Reserve off course for an aggressive first...
STRATEGIC REPORT UPDATE PART 2: Russia-Ukraine War, Geopolitics & Economic ImplicationsMarch 1, 2022
As the Russian-Ukraine War escalates, the negative implications will only worsen, especially for the West. Why? Because the West, especially Europe, is totally dependent on Russian oil and gas supplies to keep its economy functioning. Thus, the increased sanctions on Russia and...