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economic · economic

Australian beef exports to China will face an additional 55% tariff starting this weekend after hitting Beijing’s annual quota limit, which could impact trade flows and prompt producers to seek new markets for red meat.

economic · economic

Asian stocks reached a record high, fueled by optimism that the reopening of the Strait of Hormuz will normalize oil flows and ease inflation. This development, coupled with positive semiconductor news, boosted investor confidence. Lower energy costs are also easing concerns about future interest rate hikes.

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New Zealand exports surged to a second straight monthly record in May, driven by meat shipments to the US and milk consignments, as farmers continue to benefit from strong demand and high commodity prices.

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Bloomberg Economics Anna Andrade joins Scarlet Fu on "Real Yield." The Bank of England held interest rates at 3.75% as it said the recent fall in oil prices was “encouraging,” even while two of the nine policymakers voted for an immediate quarter-point hike over concerns of persistent inflation. (Source: Bloomberg)

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U.S. stock indexes rose Thursday, led by semiconductor shares and easing inflation fears, despite anticipated Federal Reserve interest rate hikes. Intel surged to a record high after President Trump announced a deal for U.S.-based chip design and manufacturing. Oil prices slid as the U.S. and Iran extended an interim agreement, allowing for continued passage through the Strait of Hormuz.

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Jamie Patton, co-head of global rates at TCW, and Mark Cabana, co-head of global rates research at BofA Securities, join Scarlet Fu on "Real Yield." Federal Reserve Chairman Kevin Warsh vowed to restore price stability following his first policy meeting since taking the helm of the US central bank, after officials left interest rates unchanged and signaled growing support for rate hikes this year. (Source: Bloomberg)

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Thirty-year Treasury yields will most likely push back over 5% by the end of the year, the latest Markets Pulse survey showed, signaling some doubts about whether the Federal Reserve will move quickly to enough rein in the recent inflation surge.

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The Treasury market saw a record surge in futures trading that underpins bets that the Federal Reserve’s next move will be to boost interest rates.

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Brazilian markets sold off on Thursday as investors criticized the central bank for cutting interest rates while flagging a worsening inflation outlook.

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Oil prices have plummeted following news of a US-Iran deal that is meant to reopen the Strait of Hormuz, but US drivers probably will have to wait a while for cheaper gasoline. Traders and analysts say that prices are unlikely to fall to pre-crisis levels until stockpiles of crude oil and gasoline are replenished, which probably won’t happen before the end of 2026.

economic · economic

Makerfield by-election: This may finally be the end for Starmer Submitted by Peter Oborne on Thu, 06/18/2026 - 16:38 If Labour candidate Andy Burnham is victorious, the party could begin a much-needed process of renewal Supporters hold placards promoting Andy Burnham in the Makerfield by-election campaign in northwest England, on 22 May 2026 (Paul Ellis/AFP) Off British Prime Minister Keir Starmer will have mixed feelings as he awaits the result of today’s Makerfield by-election . As Labour leader, he will celebrate if his party wins. As prime minister, his survival depends on Labour losing. A victory for Andy Burnham, the Labour candidate, would be a personal catastrophe for the prime minister. A victorious Burnham would immediately travel to Westminster on a mission to destroy the Starmer premiership – meaning Starmer is all but finished. This would be an unimaginable humiliation for a man elected as prime minister less than two years ago with one of the largest majorities in British political history. There is much discussion today about whether Starmer will fight to stay in office, or go quietly. It doesn’t matter. A bad tooth can be extracted using anaesthetic or, more painfully, without. The result is the same. .push({}); In Downing Street, Burnham would start with one huge advantage: he is not Starmer. People dislike Starmer. Burnham is friendly and warm, with a human touch that Starmer lacks. He has been a hugely successful mayor of Manchester. We shouldn’t pay too much attention to critics who carp that much of his success is down to others. That’s always true of politicians. A fighting chance Starmer never had a hope of defeating the far right. Burnham, with luck and skill, stands a chance. He comes from the north , a welcome change in a country that is governed from the south. But the main reason for supporting Burnham is that he can attract voters back to Labour by offering an alternative to the politics of bitterness and hatred that is tearing Britain apart. .push({}); His wiser colleagues understand this. Ed Miliband, the energy security secretary and former Labour leader, could have stood himself. But he has chosen to play kingmaker instead. People will want Burnham to succeed. More than that, they will know they can’t afford for him to fail. Burnham is Labour’s last chance. The alternative is oblivion. Anyone who wants the Labour Party to survive, Britain to flourish and the far right to be humbled will hope and pray that Burnham succeeds Burnham also starts with one big disadvantage: Britain’s £3 trillion ($4 trillion) national debt. Burnham cannot buy popularity with spending schemes the way former Prime Minister Tony Blair could in the benign economic circumstances of the 1990s. Like it or not, the markets will not permit it. But there are important things that Burnham can do. To start with, he can mend the Labour Party. It’s important to remember that Starmer was never, in truth, Labour leader. In reality, he was a useful tool for a small Labour Party faction, the ostensibly benign and well-meaning “think tank” called Labour Together. As investigative journalist Paul Holden demonstrated in his extraordinary work The Fraud: Keir Starmer, Morgan McSweeney, and the Crisis of British Democracy , Labour Together was a secret project, backed by illegally undeclared money, to capture Labour for a right-wing clique. It can usefully be regarded as the right-wing equivalent of Militant Tendency , which sought to capture Labour in the 1980s. McSweeney , the former Downing Street chief of staff forced out in the wake of the Peter Mandelson/Jeffrey Epstein affair , was the leader of the Labour Together faction. Mandelson was its godfather; Starmer its unwitting tool. Undoing years of damage Labour Together secured the Labour leadership election with a dishonest pitch that tricked the party’s largely left-wing membership to vote for Starmer. Once leader, he reneged on the pledges that had won him the leadership – and set about turning viciously on the Labour left , driving many of them out of the party. In the short term, this strategy – carried out with the support of the Tory media – secured Starmer his massive parliamentary majority. But it split the Labour Party, leading directly to the rise of Zack Polanski’s Green Party . This explains today’s collapse of Labour support, and the deep personal unpopularity of Starmer. A central question in British politics now is whether Burnham can undo the damage inflicted by Labour Together, and reunite Labour. Can Andy Burnham offer Labour a new destiny? Read More » The signs are mixed. There is gossip that Burnham may bring back David Miliband , the former foreign secretary, from his comfortable exile as well-paid charity boss (roughly $1.2m a year from the International Rescue Committee) in New York. Appointing David Miliband, a Blair protege, to a key position would send the wrong message while the carnage continues in Gaza . It is troubling that Josh Simons , the former director of Labour Together who stood down as a minister after being accused of spying on journalists, made way for Burnham in Makerfield and could ultimately form part of his team. But it is encouraging that MP Louise Haigh , reportedly one of the highest-profile victims of the Labour Together machine, is working with Burnham . Importantly, former chief of staff Sue Gray , another victim of Labour Together when she was driven out of her Downing Street job, is advising Burnham . She is synonymous with integrity. Burnham has been criticised for being cagey on policy. That’s understandable; he’s been fighting a by-election, not running the country. If he gets to Downing Street, he will have the opportunity to clean up British politics, promote social justice, fight the politics of hatred, and press forward with the agenda that Starmer spurned. Anyone who wants the Labour Party to survive, Britain to flourish and the far right to be humbled will hope and pray that Burnham succeeds. The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of Middle East Eye. UK Elections Opinion Post Date Override 0 Update Date Mon, 05/04/2020 - 21:29 Update Date Override 0

economic · economic

Traders piled into betting on interest-rate hikes as soon as next month after Kevin Warsh used his debut press conference as Federal Reserve chairman to make clear the central bank won’t tolerate high inflation. Jennifer Lee, Senior Economist at BMO Capital Markets, discusses the FOMC decision and what she expects to see as Kevin Warsh settles in as Fed Chair. (Source: Bloomberg)

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The dollar extended its rally for a second day, pushing it back toward the late-March peak, as traders piled into bets that the Federal Reserve will start raising interest rates as soon as late next month.

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Kay Haigh at Goldman Sachs Asset Management says two-year Treasury yields may become more volatile as Federal Reserve Chairman Kevin Warsh charts a new course for central bank communications. He speaks with Lisa Abramowicz and Annmarie Hordern on "Bloomberg Surveillance." (Source: Bloomberg)

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Ed Yardeni of Yardeni Reseach says Federal Reserve Chairman Kevin Warsh "pretty much" committed to bringing inflation down to 2%. Yardeni talks about what Warsh will do now on "Bloomberg Surveillance." (Source: Bloomberg)

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President Donald Trump and his team had several red lines that they used to justify the US war against Iran. At a press conference on Wednesday, Trump largely brushed them aside. Traders dumped short-term Treasuries and piled into betting on interest rate hikes as soon as next month after Kevin Warsh used his debut press conference as Federal Reserve chairman to make clear the central bank won’t tolerate high inflation. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)

economic · economic

The Bank of England held interest rates at 3.75% as it said the recent fall in oil prices was “encouraging,” even while two policymakers voted for an immediate quarter-point hike over concerns of persistent inflation. Bloomberg's Lizzy Burden reports. (Source: Bloomberg)

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Falling oil prices and weaker than expected inflation have reduced urgency for rise

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US Treasuries recovered from a selloff after the new Federal Reserve Chairman Kevin Warsh positioned himself as a credible figure to fight inflation.

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Warsh says central bank won’t tolerate high inflation.

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Traders piled into betting on interest-rate hikes as soon as next month after Federal Reserve Chairman Kevin Warsh clear the central bank won’t tolerate high inflation. The hawkish message was driven home by the projections of individual Fed members. Bloomberg's Alister Bull reports. (Source: Bloomberg)

economic · economic

As widely expected, policymakers at the the US Federal Reserve have kept interest rates unchanged. But in a clear change of tone from previous meetings, Fed officials said they expected raising interest rates later this year rather than lowering them, to tame rising inflation. The meeting was the first chaired by the central bank's new chief, Kevin Warsh, who scrapped guidance about future rate moves and announced new task forces that could reshape how the Fed communicates and analyses data.

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Consumer prices will stay higher for some time in the euro area despite an agreement to end the war in the Middle East, according to European Central Bank Governing Council member Martin Kocher.

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Easing crude oil prices have boosted sentiment for Indian equities, with experts recommending accumulation of quality stocks in financials, defence, infrastructure, and metals. Investors are advised to use market dips as buying opportunities, especially in mid and small-cap segments. While inflation and monsoon concerns persist, they are seen as chances to invest.

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Switzerland lost its position as the world’s most competitive economy to Singapore, slipping to third place in the ranking as high US trade tariffs and a strong Swiss franc hurt investment flows.

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Copper fell more than 1% to wipe out the gains of earlier this week after US Federal Reserve Chair Kevin Warsh sparked speculation about rate hikes in comments at his debut press conference.

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The Czech central bank may raise interest rates for the first time in four years as policymakers weigh domestic inflation pressures against receding risks from global energy prices.

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Chinese ambassador to the United States Xie Feng on Wednesday proposed to increase the limit of tariff-free goods under the newly created US-China Board of Trade from the existing US$30 billion to US$300 billion – a 10-fold rise in non-sensitive trade covered by the mechanism. Addressing a gathering at the US-China Business Council gala in Washington, Xie said he shared the view of “many friends from American businesses” that the tariff-free basket was “far from big enough”. “I cannot agree...