Overseas Headlines – August 12, 2022

August 12, 2022

United States:

Stock Futures Rise Amid Easing Inflation Concerns: Markets Wrap

US equity futures rose Friday as investors assessed whether signs of cooling inflation will enable the Federal Reserve to pivot to less aggressive interest-rate increases. Treasury yields dropped.

S&P 500 and Nasdaq 100 contracts climbed about 0.5%, with both underlying gauges set to post their longest sequence of weekly gains since November. Alibaba Group Holding Ltd. led a premarket decline in US-listed China stocks after some of the nation’s largest state-owned companies announced plans to delist from American exchanges.



Credit Suisse Weighs Break With Trading Unit That Minted Billions

When bailed-out US mortgage giant Fannie Mae wanted to sell almost $2 billion of troubled American home loans in early 2017, only one bank showed up for the auction: Credit Suisse Group AG.

The Swiss seemed unlikely bidders, having been battered by US mortgages in the financial crisis. And the division pushing for the deal — known as the securitized products group, or SPG — had contributed to steep losses just months earlier that blindsided top management in Zurich.



India July Inflation Cools, Easing Pressure for Steep Hikes

India’s retail inflation softened for a third straight month in July, taking some pressure off the central bank from pursuing sharp monetary tightening to return price gains back to its target band.

Consumer prices rose 6.71% last month from a year earlier, dipping below 7% for the first time in four months, data released by the Statistics Ministry showed Friday. That compares with an estimate of a 6.75% gain in a Bloomberg survey of economists and a reading of 7.01% in June.



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