Overseas Headlines – October 13, 2022

October 13, 2022


United States:

Core US Inflation Rises to 40-Year High, Securing Big Fed Hike

A closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation.



The UK Only Has a Few Ways to Calm Markets Before BOE Pulls Back

 The guardians of the UK economy have few good options available as Friday’s deadline for the Bank of England to end its emergency gilt purchases looms with markets still skittish.



China Debt Crisis Sparked by Evergrande Snares State-Aided CIFI

China’s ability to contain a deepening property debt crisis has come under more scrutiny, after a private developer with state backing for funding joined an expanding list of bond defaulters.

CIFI Holdings Group Co. has failed to pay a coupon due Oct. 8 on a Hong Kong dollar convertible bond on time. The Shanghai-based firm also warned it may face a similar outcome on offshore debt, after blaming a long Chinese public holiday for delaying payments.




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