September, 2021

• 30 September

  Pentagon chiefs point rare jabs at Trump, Biden over Afghan collapse

  

  Bloomberg The top US military leaders pointed rare criticism at key decisions by Presidents Donald Trump and Joe Biden which they said undermined Afghanistan’s military and made it harder for American troops to remain as the nation’s government collapsed. Secretary of Defense Lloyd Austin told the Senate Armed Services Committee that Trump’s 2020 peace deal with the Taliban had a ...

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• 29 September

  Myanmar set for ‘extreme deprivation’, says UNWFP

  Bloomberg Myanmar’s Covid-19 outbreak has pushed more people into poverty, and the most vulnerable sections of the society may face “extreme deprivation” in the coming months, according to the UN World Food Program. “We’re concerned that the cumulative impact is putting pressure on the most vulnerable segments of society,” the food agency’s Country Director Stephen Anderson said in a Bloomberg ...

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• 29 September

  China injects liquidity into financial system for 9th day

  

  Bloomberg China’s central bank injected liquidity into the financial system for a ninth day in the longest run since December as it sought to meet a surge in seasonal demand for cash. The People’s Bank of China (PBOC) pumped in 100 billion yuan ($15.5 billion) of cash with 14-day reverse repurchase agreements, resulting in a net injection of 40 billion ...

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• 29 September

  UK shoppers have one year to spend $32bn of old bank notes: BOE

  

  Bloomberg UK consumers have just one year left to spend about $32 billion of paper 20- and 50-pound notes as the Bank of England (BOE) withdraws them from circulation. The notes, which have been superseded by polymer equivalents featuring artist JMW Turner and mathematician Alan Turing, will no longer be accepted in shops after September 30, 2022, the BOE said ...

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• 29 September

  Thailand holds rate on rebound optimism as restrictions ease

  

  Bloomberg Thailand’s central bank held its key interest rate unchanged amid optimism that an economic rebound will hold, as Southeast Asia’s second largest economy loosens growth-stifling restrictions and virus cases ease. The Bank of Thailand voted unanimously on Wednesday to hold one-day repurchase rate at a record-low 0.5% for an 11th straight meeting, as predicted by 19 of 22 economists ...

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• 29 September

  JPMorgan invests $60mn in minority-led lenders

  Bloomberg JPMorgan Chase & Co invested in 10 banks with diverse leadership, acquiring stakes with a total value of more than $60 million, and is giving their customers free access to thousands of ATMs as part of its effort to help address the racial wealth gap. The “investments and commitments” JPMorgan has made in minority deposit institutions, known as MDIs, ...

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• 29 September

  Deutsche Bank to return 5000 staff to NYC offices

  

  Bloomberg Deutsche Bank AG plans to return 5,000 workers to New York City over the next six months. Many of the returning staff will still have the option of more flexible working arrangements, Christiana Riley, chief executive officer of Deutsche Bank Americas, said in an interview from the Frankfurt-based company’s new US headquarters. “The demise of New York is vastly ...

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• 29 September

  Scotiabank tests Canada style loss-absorbing note sale in US

  Bloomberg Bank of Nova Scotia is set to become Canada’s first bank to sell a junior bond known as limited recourse capital notes in a currency other than loonies. Toronto-based Scotiabank is reaching out to US dollar-based investors before deciding to go ahead with the deal. In June, the bank sold LRCNs in the Canadian dollar corporate bond market. Canadian ...

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• 29 September

  Brazil’s central bank assesses costs, benefits of faster hikes

  

  Bloomberg Brazil’s central bank assessed the costs and benefits of bigger interest rate hikes but concluded that its current pace of monetary tightening would be sufficient to bring inflation back to target. The current adjustment has already left interest rates in a restrictive level and uncertainties related to the pandemic justify “accumulating more information about the state of the economy ...

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• 29 September

  Highest flying tech stocks fall hardest in rate-fuelled rout

  

  Bloomberg Think the selloff in technology stocks has been bad? If US Treasury yields keep rising, it’s probably going to get worse. That’s the widespread thinking on Wall Street as the surge in yields batters growth stocks that have been trading at lofty levels. That’s helped fuel a 2.9% drop in the Nasdaq 100 Stock Index on Tuesday, led by ...

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