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The Latest Breaking News from Interest Rates

Inflation: raising interest rates was never the right medicine – here's why central bankers did it anyway

Inflation remains too high in the UK. The annual rate of consumer price inflation to September was 6.7%, the same as a month earlier. This is well below the 11.1% peak reached in October 2022, but the failure of inflation to keep falling indicates it is proving far more stubborn…

The Conversation

The looming reckoning in private equity

City Voices: The most rapid hike in interest rates in recent history threatens to disrupt a model built on cheap financing

Evening Standard

FTSE 100 posts biggest fall since August, as UK 30-year borrowing costs hit 25-year high – business live

Pound hits five-month low vs euro, shares slide in London, and UK 30-year borrowing costs hit 25-year high

The Guardian - UK

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Dollar Slips on Dovish Powell

The dollar index (DXY00 ) on Thursday fell by -0.33%. The dollar retreated Thursday on comments from Fed Chair Powell that suggested the Fed will keep interest rates on hold for a second consecutive meeting when the FOMC meets next on Oct 31-Nov 1. Losses in the dollar were limited...

Barchart

These are the absolute best savings accounts available today (5% APY and up)

The Fortune Recommends team evaluated more than 60 high-yield savings accounts to find you the top picks.

Fortune

Applications for US jobless benefits fall to lowest level in more than 8 months

Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market

The Independent UK

FTSE 100 Live: 'Incident' halts trading in many London stocks, blue-chips unaffected but still close down 1.2%

The London Stock Exchange said an '"incident" has caused it to suspend trading in a number of shares.

Evening Standard

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Americans Learned a Lesson About Interest Rates. Washington Has Not.

Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?

Reason

Raise Bank of England inflation target to 3%, says leading thinktank

Resolution Foundation also calls for Bank to have power to set below-zero interest rates in response to future downturns

The Guardian - UK

Britain needs economic and fiscal policy ‘reset’ to fight future crises – report

The Resolution Foundation is warning the UK is on course for debt to rise to around 140% of economic output over the next 50 years.

The Independent UK

Broad rise in wealth has boosted most US households since 2020 and helped sustain economic growth

The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2019 through 2022, while low interest rates made it easier for households to pay their debts

The Independent UK

3 Dynamic Bank Stocks to Consider for Sustainable Profits

The U.S. banking industry has been facing several headwinds, including slowing loan growth, stricter capital requirements, rising deposit costs and credit rating downgrades. Amid the uncertainty surrounding the U.S. banking industry’s prospects, it could be wise to look beyond borders and buy fundamentally strong foreign banking stocks Barclays (BCS), Agricultural…

StockNews.com

Sticky inflation and oil price surge dims hopes for interest rate cuts

Most forecasters do not expect a cut for another year

Evening Standard

Inflation set to dip slightly as markets hope Bank of England interest rates have peaked

City experts expect the headline inflation rate to dip to 6.6%, the lowest rate since February 2022: the month Russia invaded Ukraine.

Evening Standard

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Fortune

“Shark Tank” star Barbara Corcoran insists now is “the very best time” to buy a house

The “Shark Tank” star sold her property business for $66 million in 2001.

The Independent UK

Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest rates

Americans kept spending in September at a solid pace even as they grappled with higher prices and interest rates

The Guardian - UK

UK regular pay rising faster than inflation again; Goldman Sachs profits fall by a third – as it happened

Basic pay outpaces inflation for the first time in almost two years, but fall in vacancies suggests jobs market is cooling

The Independent UK

UK economy in ‘horrible bind’ as recession looms with no room for tax cuts, say experts

Britain in for ‘protracted period of high taxes and tight spending’, says Institute for Fiscal Studies

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The Independent UK

UK economy in ‘horrible’ bind with no room for tax cuts as recession looms – IFS

Britain is heading towards a recession next year as borrowing costs stay elevated, the IFS warned in its latest Green Budget.

Barchart

Will Big Tech Earnings Results Boost Market Sentiment?

With the list of headwinds for the stock market, from high interest rates to geopolitical concerns in the Middle East, investors hope that soon-to-be-released third-quarter earnings results from the mega-cap technology companies will boost market sentiment. The biggest U.S technology companies have slashed thousands of jobs and reduced costs, and...

Barchart

Stocks Gain on Diplomatic Efforts to Contain the Israeli-Hamas Conflict

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +1.10%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.97%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.22%. Stocks this morning are moderately higher, with the Dow...

The Guardian - UK

UK house prices rise at slowest post-summer rate since 2008 crash

Rightmove says 0.5% rise is smallest for time of year since financial crisis 15 years ago as higher interest rates hit home

The Guardian - UK

Rich nations, the IMF and World Bank are worried about the Israel-Hamas war, but not nearly enough

Just like the Yom Kippur war 50 years before, the current conflict represents a grave threat to an already fragile global economy

Barchart

Gauging the Grain Market: Where are Soybeans, Corn, and Wheat Headed?

Earlier today, I was interviewed by Michelle Rook on AgWeb's Markets Now. We spoke about the action in the grain markets, energy markets, gold, cattle, and interest rates.

Fortune

JPMorgan Chase CEO Jamie Dimon warns the Israel-Hamas conflict ‘may have far-reaching impacts’ on the economy. ‘This may be the most dangerous time the world has seen in decades’

“Last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships,” Dimon warned.

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