The Bank of England (headquarters on the left) is expected to hold interest rates, causing investors to sell UK bonds.
Rates are now higher than after Liz Truss’s 2022 mini-budget.
Ghana is engaging the IMF over a bailout.
Ghana’s sovereign risk has been downgraded to near junk status by ratings agencies in recent times.
Ghana’s borrowing has it on the verge of debt distress.
There are a number of reasons why Ghana’s domestic borrowing is more expensive than foreign debt.
Federal Reserve Chairman Jerome Powell.
A market crash may be more likely than at any time in a generation.
Markets know what has happened each time the yield curve has turned negative. The idea of a negative curve without a a recession would take some getting used to.
Precedent suggests that what’s happened in the US will lead to a recession, but maybe it’ll be different this time.
Five Star Movement leader Luigi di Maio brandishes an Italian flag at a rally in Naples.
Italy’s economy is verging on bankrupt and its election results have dealt a hammer blow to the prospects of fixing things. The best option, financially at least, may be to put someone else at the helm.
South Africa’s Finance Minister Pravin Gordhan is fighting to stave off a downgrade by ratings agencies.
South Africa has made some progress in fixing problems identified by ratings agencies. But there are a number of outstanding issues that might mean the country is given ‘junk’ status.