Bloomberg UK bonds surged to head for their biggest weekly rally in a decade on mounting expectations the government is preparing an imminent retreat from plans for vast unfunded tax cuts. The rally came at the end of another tumultuous week for markets, with both bonds and the pound yo-yoing on changing sentiment. UK Prime Minister Liz Truss is …

Bloomberg A shift towards private markets is cushioning many of the world’s largest investors from the wreckage wrought by runaway inflation and spiralling interest rates. The big question now looming over giants from China’s $1.2 trillion sovereign wealth fund to California’s public pension, the largest in the US, is how long those private bets will remain insulated as the economic …

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) slashed its 2022 capital spending target by roughly 10%, a dramatic sign of trouble for the technology industry from the world’s most valuable chip company. TSMC said it expects to spend about $36 billion in 2022 on capital equipment, down from at least $40 billion previously. The sharp reduction in expenditure — an important …