U.K. gilts and bonds faced heavy selling pressure in response to the latest 'Starmer drama', as the prime minister faced down rivals ahead of the King's Speech.
Blackstone Inc. has walked away from a proposed $4 billion tie-up with New World Development Co. after the embattled property developer refused to hand over the reins, people familiar with the matter said.
The Chinese yuan is more than 20% undervalued against the US dollar, according to Goldman Sachs Group Inc., which expects the currency to keep strengthening over the coming year.
Goldman Sachs said it pushed back expectations for the US Federal Reserve’s next two rate cuts by one quarter to December 2026 and March 2027 as inflation proves stickier than anticipated.
Wall Street is growing more convinced that shipping through the Strait of Hormuz will remain impaired into the second half of the year, highlighting expectations for a longer-lasting supply shock.