Global government bond losses are on course for the worst year since 1949, and this year's bond crash threatens credit events and a liquidation of the world's most crowded trades, BofA said in a note on Friday.
FedEx Corp's new chief executive needs to show he can deliver on the promise of implementing aggressive cost cuts, Wall Street analysts said on Friday, after the company laid out plans to slash up to $2.7 billion in expenses for fiscal 2023.
A downturn in business activity across the euro zone deepened in September, according to a survey which showed the economy was likely entering a recession as consumers rein in spending amid a cost of living crisis.
Investors withdrew money from global bond and equity funds in the week ended September 21, with caution creeping in ahead of the U.S. Federal Reserve meeting in which further rate hikes were expected to tame soaring inflation.
Britain's new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, with sterling and British government bonds in freefall.
Wall Street futures fell on Friday as investors fretted over the prospect of an economic downturn and a hit to corporate earnings from the U.S. Federal Reserve's aggressive policy tightening moves to quell inflation.
Spiralling energy costs have forced steel makers to cut output across Europe, threatening mass plant shutdowns some warn could be permanent in a sector that employs more than 300,000 and contributes tens of billions of euros to the region's economy.
The Russian rouble surged to new multi-week highs on Friday while stocks fell in volatile trade as Moscow mobilises some 300,000 extra troops for the conflict in Ukraine.
