The Economist (April 10)
“For a good few hours on April 9th, disaster beckoned. Share prices had been falling for weeks. Then the market for American Treasury bonds—normally among the safest assets available—started convulsing, too. The yield on ten-year Treasuries leapt to 4.5%…. That meant bond prices, which move inversely to yields, had cratered. The failure of both risky and supposedly safe assets at once threatened to destabilise the financial system itself.”
Tags: April 9, Bonds, Convulsing, Cratered, Destabilise, Disaster, Failure, Financial system, Market, Risky, Safe assets, Share prices, Threatened, Treasuries, U.S., Yield
Financial Times (October 20)
“In just six weeks, Truss cratered the Conservative party’s poll ratings and unleashed turmoil on financial markets. She was forced into a U-turn on her “mini” Budget involving £45bn of unfunded tax cuts, sacked her chancellor and ousted her home secretary.” After vowing to fight on, she then delivered “one of the shortest and bleakest resignation statements in modern British history: she was quitting after only 44 days in office.”
Tags: Bleakest, Budget, Conservative Party, Cratered, Financial markets, Ratings, Resignation, Shortest, Tax cuts, Truss, Turmoil, U-turn
Washington Post (January 26)
“Thousands of Americans who jumped into crypto investing over the past two years in hopes of a rocket ride to instant wealth now face a similar reckoning: Prices for cryptocurrencies… have cratered since reaching all-time highs in early November, wiping out an astonishing $1.35 trillion in value globally, nearly half of the total market.”
Tags: Cratered, Crypto investing, Cryptocurrencies, Instant wealth, Market, Prices, Reckoning, Rocket ride, U.S., Value
