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Analysis: Europe energy crisis may deepen with looming liquidity crunch


LONDON, Sept 21 (Reuters) – Europe’s problems in sourcing oil and gas this winter after a dispute with Russia may be exacerbated by a new crisis in the market where prices are already red-hot: a liquidity crunch that could send them spiralling higher still.

But European governments have only belatedly rallied to offer financial support to power providers on the brink of collapse, in an effort to ease pressure on a market whose smooth operation is vital to keep people warm.

Full coverage: REUTERS

Stocks Sink, Havens Sought As Russia Worries Combine With Fed Jitters

TOKYO, Sept 21 (Reuters) – Stock markets fell and havens including U.S. Treasuries and the Japanese yen saw demand as Russian President Vladimir Putin’s announcement of a partial military mobilisation hurt sentiment in a market already jittery about aggressive Federal Reserve policy tightening.

European equity markets were set to fall at the open with EuroStoxx50 futures dropping as much as 1% to their lowest level since mid-July.

Full coverage: REUTERS

Euro Falls, Safe-Haven Bonds Rally On Putin Comments

LONDON, Sept 21 (Reuters) – The euro fell and safe-haven bond markets in the euro area rallied on Wednesday, after Russian President Vladimir Putin accused the West of engaging in nuclear blackmail against Russia.

The euro fell to as low $0.9885 and was last down 0.7% on the day.

Safe-haven bonds rallied, pushing yields down. The two-year German bond yield was last down 7 basis points on the day at 1.66% .

In a speech announcing a partial mobilisation for the country’s military campaign in Ukraine, Putin also said that Russia had “lots of weapons to reply” to what he called Western threats and said that he was not bluffing.

Full coverage: REUTERS

European Business Group Warns Of Loss Of Confidence In China

SHANGHAI, Sept 21 (Reuters) – A top European industry group warned on Wednesday that firms were losing confidence in China and that its standing as an investment destination was being eroded, citing its “inflexible and inconsistently implemented” COVID policy as a key factor.

The European Chamber of Commerce published the warnings in a paper it said had input from 1,800 member companies, which also contained 967 recommendations for China, the European Union and European companies related to doing business in the country.

Full coverage: REUTERS

Rate Hikes, Ukraine War, China Woes Dim Asia Growth Outlook

MANILA, Sept 21 (Reuters) – The Asian Development Bank (ADB) on Wednesday cut its growth forecasts for developing Asia for 2022 and 2023 amid mounting risks from increased central bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China.

The ADB now expects the area’s combined economy, which includes China and India, to grow 4.3% this year, after previously trimming the forecast to 4.6% in July from 5.2% in April.

Full coverage: REUTERS

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Industry Dynamics

Goldman, Morgan Stanley Lawsuits Dismissed In Archegos Collapse Case

Today’s News  Several lawsuits against Goldman Sachs Group Inc and Morgan Stanley have been dismissed by a U.S. judge in connection with the rapid collapse of Bill Hwang’s USD 36 billion firm, Archegos Capital Management, in March 2021. The lawsuits, which accused the banks of misconduct fueling the collapse, were dismissed with prejudice, meaning they […]

2024-3-29 | Industry Dynamics

SWIFT Announces Cental Bank Digital Currency Platform Launch 

Today’s News  SWIFT, the global bank messaging network, has disclosed its plans to introduce a new platform within the next one to two years. This platform aims to integrate the emerging wave of central bank digital currencies (CBDCs) with the existing financial system, marking a significant development in the evolving CBDC ecosystem.   With approximately […]

2024-3-26 | Industry Dynamics

Central Banks Launch Policy Reversal With Swiss Rate Cut 

Today’s News  Switzerland has initiated rate cuts among major central banks, with the European Central Bank expected to follow suit in June, while the Bank of England and the Federal Reserve are anticipated to act before summer’s end, despite inflation showing a downward trend but not yet subdued.  The Swiss National Bank became the first […]

2024-3-25 | Industry Dynamics