Raging Markets Selloff in Five Charts: $36 Trillion and Counting

Gauges of currency and bond volatility have been a leading indicator of the ongoing rout. They have been elevated most of this year, with the ICE BofA Treasury volatility index approaching levels hit when the pandemic erupted in 2020. However, the CBOE Volatility Index, known as Wall Street’s fear gauge, remains below levels seen during … Read more

Fed Rate Increases to Persist Until Inflation Eases, Barkin Says

“Inflation should come down, but I don’t expect its drop to be immediate nor predictable,” said Barkin, who isn’t a voter on the rate-setting Federal Open Market Committee this year. “Significant shocks simply take time to evaporate,” he said, referring to the disruptions created by the Covid-19 pandemic, supply-chain snarls, and Russia’s invasion of Ukraine.

BOE Steps Back Into Bond Market to Restore Stability

The move was recommended by the Financial Policy Committee, amid fears of a “material risk” to financial stability if the dysfunction continued. “This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy,” the BOE said. It is not a monetary policy decision.

IMF Tells UK to ‘Re-Evaluate’ Tax Cut as Global Criticism Mounts

(Bloomberg) — The International Monetary Fund criticized the UK’s package of tax cuts and other steps as “untargeted” and said the measures are likely to increase inequality, weighing in after the plan sent the pound to a record low.

India Unwilling to Relent on Tax Stance for Debt Index Inclusion

A JPMorgan investor survey found that funds want India to replace Russia, which was excluded after the invasion of Ukraine, said a money manager with access to the results. Still, the survey also showed investors wanted the Asian nation’s government to ease some rules, the money manager said, asking not to be identified as the … Read more

India Unwilling to Relent on Tax Stance for Debt Index Inclusion

A JPMorgan investor survey found that funds want India to replace Russia, which was excluded after the invasion of Ukraine, said a money manager with access to the results. Still, the survey also showed investors wanted the Asian nation’s government to ease some rules, the money manager said, asking not to be identified as the … Read more

India Will Likely Extend Free Food Grains Program Until December

The push from the food ministry to extend the dole comes despite reservations from the nation’s finance ministry, Bloomberg reported previously. The finance ministry, which wasn’t in favor of extending the program, has suggested reducing the amount of grains offered due to fiscal pressures and tight supplies globally, the people said. A final call is … Read more