February, 2023

• 18 February

  Turkey decides how Nato expansion happens: Niinisto

  

  Bloomberg Finland’s President Sauli Niinisto said it’s up to Turkey to decide whether Finland and Sweden join Nato together or not. “We have an understanding with Sweden: both of us should become members as soon as possible. Turkey has its own understanding of the situation and the way forward —that’s entirely in Turkish hands,” Niinisto told reporters at the Munich ...

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• 18 February

  Northern Irish parties hail significant Brexit progress

  

  Bloomberg The UK and European Union have made significant progress towards a deal on new post-Brexit trading arrangements for Northern Ireland — but more work is still needed to finalise an agreement, the region’s political parties said. Prime Minister Rishi Sunak held a series of meetings with leaders in Belfast to discuss the status of talks aimed at resolving the ...

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• 18 February

  Risk markets underestimate inflation, says ECB’s Schnabel

  

  Bloomberg One of the European Central Bank’s (ECB) most senior officials said that investors risk underestimating the persistence of inflation, and the response needed to bring it under control. “We are still far away from claiming victory,” Executive Board member Isabel Schnabel said in an interview with Bloomberg, citing the strength of underlying price pressures and faster wage increases. The ...

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• 17 February

  PBOC governor in focus amid leadership rejig

  

    Bloomberg Who will lead the People’s Bank of China’s (PBOC) is back in focus as a leadership reshuffle at government agencies and major financial regulators nears. Two officials previously tipped as favourites by analysts are fading out of the picture, with one just starting a new job while the other is reportedly taking on a new role. Central bank ...

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• 17 February

  Apollo, Goldman plan private credit funds for rich Europeans

  

    Bloomberg Apollo Global Management and Goldman Sachs Asset Management LP are preparing to launch private credit funds aimed at wealthy European investors, trying to capitalise on a burgeoning corner of the credit market. The firms are developing strategies to target affluent individual investors interested in private lending for leveraged buyouts in the region, according to people with direct knowledge ...

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• 17 February

  Riksbank deputy chief sees ‘benign’ inflation outlook

  

    Bloomberg Sweden’s Riksbank has “fairly good” prospects to bring inflation back towards its 2% target and avoid persistent price increases, though there will be short-term economic pain, Deputy Governor Per Jansson said. “Unfortunately there is no way out of this situation that doesn’t entail costs,” Jansson said in a speech in Stockholm. “It will be tough, no question about ...

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• 17 February

  Hosie is Credit Suisse new global equities head

    Bloomberg Credit Suisse Group AG named Neil Hosie to lead the bank’s global equities team, amid ongoing management turnover and restructuring at the investment bank unit. Hosie will be based in London and report to co-head of markets, Michael Ebert, according to an internal memo seen by Bloomberg News that was confirmed by a spokeswoman. Hosie, who has been ...

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• 17 February

  Morgan Stanley bullish on euro as economy can bear more hikes

  

  Bloomberg A closely-watched interest-rate metric has convinced Morgan Stanley strategists that the euro area can withstand further increases in borrowing costs, boosting their bullish view on the single currency. The near-term forward spread — the difference between the three-month rate and where investors see it in 18 months’ time — is inverted for markets including the US and New Zealand, ...

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• 17 February

  Stocks drop on hawkish rate fears; dollar rallies

  

    Bloomberg US equity futures and European stocks dropped in the face of hawkish comments from Federal Reserve and European Central Bank (ECB) officials that ramped up investors’ expectations of higher interest rates. The dollar rallied and bonds fell. Contracts for both the S&P 500 and Nasdaq 100 retreated after the underlying indexes sank more than 1% on February 16. ...

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• 17 February

  Hard landing to hit stocks in second half of 2023, says BofA

  

  Bloomberg The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. (BofA) strategists, who say a resilient economy thus far means interest rates will stay higher for longer. A team led by Michael Hartnett is among those predicting a scenario known as “no landing” in the ...

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