Wall Street Rethinks Turkish Rate Path as Inflation Heads to 70%
Wall Street banks are again having to rewrite their outlooks for Turkish interest rates, as inflation climbs faster than expected.
Barely a week after being blindsided by a surprisingly steep rate hike to 25%, JPMorgan Chase & Co., Morgan Stanley and Bank of America Corp. are saying official borrowing costs may need to rise quicker — or higher — after price growth surged to almost 60% last month. With the lira coming under renewed selling pressure, policymakers likely won’t stop a monetary tightening cycle that already delivered the biggest rate increase in years to lift Turkey’s benchmark by 7.5 percentage points to 25%.
U.S. Government Shutdown Would Halt IPOs and Market Surveillance, SEC’s Gensler Warns
The U.S. government will shut down this weekend absent a last-minute funding deal from Congress, and that could lead to significant disruptions for stock and bond markets, according to the nation’s top securities regulator.
What a Fed Rate-Hike Pause Would Mean for Bank Accounts and Loans
The Federal Reserve decided to keep interest rates the same for just the second time since beginning its current hiking cycle aimed at curbing inflation last year
Adobe Gears Up For Thursday Earnings As Options Traders Go Bullish
Adobe Inc. (ADBE) is all set to report its quarterly earnings on Sept. 14, 2023.
