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May 2022
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MarketWatch (May 15)

2022/ 05/ 16 by jd in Global News

“A big bounce for stocks on Friday still leaves the main U.S. stock market benchmark close to entering a bear market as investors fret over the Federal Reserve’s ability to get a grip on inflation without sinking the economy stokes fears of stagflation — a pernicious combination of slow economic growth and persistent inflation.”


Financial Times (May 6)

2022/ 05/ 07 by jd in Global News

“The yen may very well experience further depreciation pressure over the coming weeks… we are in a complex and volatile period for global markets.” Beyond that, however, “there are a number of paths to recovery for the yen…. Investors can anticipate a rebound in the yen over time and should consider owning this haven asset as a hedge against global recession and other tail risks.”


Wall Street Journal (April 26)

2022/ 04/ 27 by jd in Global News

“Worries about the war in Ukraine, China’s Covid-19 outbreak, a U.S. or European recession and surging global inflation are making a long-spurned asset increasingly popular with Wall Street’s top money managers these days: cash.” Increasingly asset managers “are looking to move funds into low-risk, cash-like assets. That marks a shift from recent years, when steadily climbing equity indexes trained investors to buy every dip and not miss out on gains by holding cash.”


Professional Pensions (April 19)

2022/ 04/ 20 by jd in Global News

“The response by pension schemes and other investors to the invasion was immediate and, in the days following Russia’s attack, a number of pension schemes announced they would reduce or sell all their holdings as soon as possible.” Exposure to Russia varied by scheme, but was low overall, at around “0.1% for many schemes, holdings that many managers have written down to zero.” All in all, the “market reaction to the crisis was surprisingly muted,” with fairly stable funding levels throughout the crisis.


CNN Business (April 17)

2022/ 04/ 18 by jd in Global News

“Nearly 400 million people across 45 cities in China are under full or partial lockdown as part of China’s strict zero-Covid policy.” Collectively, they contribute $7.2 trillion, nearly 40%, of China’s GDP. “Analysts are ringing warning bells, but say investors aren’t properly assessing how serious the global economic fallout might be from these prolonged isolation orders.”


Financial Times (April 13)

2022/ 04/ 14 by jd in Global News

“A charitable take on things would be that Toshiba — a 146-year-old industrial masterpiece that fancies itself as the “Mona Lisa” but more often comes across as “The Scream” — has reached this important landmark via the scenic route.” Since this “included accounting fraud, a brush with bankruptcy, multiple chief executive resignations and a four-year war with investors,” it could also be said that Toshiba “finds it institutionally hard to read signs or admit it is lost.”


Bloomberg (April 12)

2022/ 04/ 14 by jd in Global News

“The feel-good days for global markets at the end of March are firmly over.” Suddenly, everyone is afraid of economic slowing. “With monetary support rapidly receding and recession risks rising, investors are hunkering down. Companies resilient to an economic slowdown such as health care are back in favor. Ditto cash and dividend-paying stocks. Meanwhile, demand for hedging is creeping up in the options market.”


The Economist (April 9)

2022/ 04/ 11 by jd in Global News

“Toshiba was once synonymous with Japan’s industrial might.” Over the past decade, it “has become a byword for drama,” which has included accounting fraud and an ongoing “series of ‘slapstick’ struggles between management and shareholders.” A possible buy-out led by Bain Capital has “raised hopes among investors for some sort of resolution to the saga.” This could potentially prove a watershed moment and “be a big deal for Japan.”


Markets Insider (April 7)

2022/ 04/ 09 by jd in Global News

Investors are punishing transportation stocks “in the face of sky-high fuel prices and slowing growth.” Since hitting a November high, the Dow Jones Transportation Average has fallen 20%, “the technical definition of a bear market.” Often seen as “a bellwether for the health of the underlying economy, the index is comprised of “transportation stocks, from logistics companies such as FedEx and UPS, airlines, to railroad operators like Union Pacific.”


Kyodo News (April 4)

2022/ 04/ 05 by jd in Global News

“The Tokyo stock market trumpets its largest overhaul in decades to lure more foreign investors. Still, the bourse is missing something such investors have long awaited — companies with great growth potential.”


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