Alphabet plans to issue a rare 100-year bond as part of a massive debt issuance. This marks the first time a tech company has issued such long-term debt since the late 1990s. According to a source familiar with the matter, the 100-year bond will be denominated in pounds sterling, along with four other pound sterling bonds. The source, who requested anonymity, added that this is Alphabet's first issuance of pound sterling bonds and pricing could...
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Tech stocks drove a Wall Street rally ahead of data releases
Tech stocks rallied again after a stock market crash triggered by artificial intelligence, following economic data releases that will help influence the Federal Reserve's policy outlook. Bitcoin fell below $70,000. Gold prices broke through $5,000. The S&P 500 continued its slight gains on Monday after its market capitalization surged by $1 trillion. Tech companies, which had been the focus of the recent market sell-off, continued to lead the gains. The chipmakers index rose 1.3%, while...
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Hedge funds bet on a weaker pound as the Starmer crisis intensifies
With the future of British Prime Minister Keir Starmer uncertain, hedge funds are betting on further weakness in the pound. On Monday, the pound fell 0.5% against the euro to 0.8725, a new low since January 22. This followed the resignation of Starmer's chief of staff on Sunday, who was unhappy with Peter Mandelson's appointment as ambassador to the United States, further escalating the political crisis in the UK. Last week, the pound was already...
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Oil Prices Fall as Middle East Tensions Ease, Supply Risks Reduced
Oil prices fell as tensions eased in the Middle East, reducing the likelihood of near-term supply disruptions. Brent crude fell below $68 a barrel, after falling nearly 4% the previous week, while West Texas Intermediate crude approached $63 a barrel. Iran and the United States held talks in Oman on Friday in an attempt to de-escalate tensions over Iran's nuclear program, with Tehran calling the talks a "step forward." President Donald Trump indicated that another...
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ECB President Piero Cipollone said the ECB will assess the impact of the euro’s strength in March.
The ECB will assess the impact of the recent euro's rise on consumer price growth in its quarterly forecasts to be released in March, but Executive Board member Piero Cipollone told the Cyprus news agency that recent moves have been rather limited. According to a record published on the ECB's website on Sunday, an Italian policymaker said officials consider the exchange rate as one of the factors “forecasting inflation dynamics.” “We will see how the...
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