August 19, 2022
United States:
US Futures Slide as Global Rate-Hike Wagers Surge: Markets Wrap
US equity-index futures fell with Treasuries after a chorus of Federal Reserve officials reiterated their resolve to continue rate hikes and traders raised tightening wagers for other major central banks. The dollar headed for the biggest weekly rally since June 2021.
September contracts on the S&P 500 Index fell 0.9% after Thursday’s gains put the equity benchmark on course for the longest streak of weekly gains since November. Technology shares remained the weaker link, with Nasdaq 100 futures falling 1% Friday. The two-year Treasury yield advanced 7 basis points. Bed Bath & Beyond sank 43% in New York premarket trading after a major investor sold his stake.
Europe:
Europe’s Carbon Price Hits New Record as Coal Drives Emissions
Europe’s carbon price jumped to a record as the region’s energy crisis is driving up demand for some of the most polluting fuels.
Businesses are burning coal and even oil to keep power stations and factories running while cleaner-burning natural gas becomes increasingly scarce. The situation threatens to push up Europe’s carbon footprint this year even if soaring energy prices and shortages force industries to shut.
Asia:
Philippines Plans $3-4 Billion Foreign-Bond Sales This Year
The Philippines plans to raise a further $3 billion to $4 billion from foreign bond sales this year, according to a person familiar with the matter.
The amount is based on the borrowing program for 2022, the person said on Friday, asking not to be identified because the matter isn’t public.
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