Global asset manager BlackRock has recorded some $17-billion worth of losses due to its Russian exposure, FT reported. BlackRock has marked down a number of its Russian assets valued at $18.2 billion at the end of January due to the impact of worldwide sanctions imposed against the country after President Vladimir Putin invaded Ukraine. The company halted acquisitions of … [Read more...] about BlackRock Funds Incur $17-Billion Losses as Sanctions on Russia Hit
Forex News
UK Opens 2022 With Economic Rebound as Restrictions Ease
Source: Office for National Statistics The UK economy opened the year with a rebound, as services posted growth with consumers returning to food and beverage activities. EWU is up 1.23% premarket. The gross domestic product grew by 0.8% in January, following the 0.2% in December when restrictions were in place due to the COVID-19 Omicron variant.All sectors posted growth … [Read more...] about UK Opens 2022 With Economic Rebound as Restrictions Ease
UK Trade Deficit Widens by £8.6B in the Quarter to January
Source: Office for National Statistics The UK posted a goods and services deficit of 21.3 billion pounds in the three months to January 2022, an increase of 8.6 billion pounds. FTSE 100 is up +0.90%, GBPUSD is down -0.13%. The rise in trade deficit reflects an 11.0% or 4.7 billion pounds jump in imports against an 8.7% or 2.5 billion pounds increase in exports.Imports … [Read more...] about UK Trade Deficit Widens by £8.6B in the Quarter to January
US Mortgage Rates Up for First Time in Three Weeks
Source: Bloomberg US mortgage rates climbed amid the growth of prices and purchasing power weakening with the continued inflationary uptick, marking the first upward movement in three weeks. XHB is down 1.88%, while ITB is down 1.74%. The average rate for the 30-year loan grew to 3.85% from 3.76% in the past week, according to Freddie Mac.The housing market is set to … [Read more...] about US Mortgage Rates Up for First Time in Three Weeks
US Jobless Claims Make a U-Turn, Rises by 11,000
Source: Department of Labor The US recorded 227,000 jobless claims in the week that ended March 5, up by 11,000 from the previous week. SPY is down -0.82%, DXY is up +0.38%. On a four-week moving average, the jobless claims increased by 500 to 231,250.The continuing claims increased by 25,000 to 1.494 million in the week to February 26. The claims fell by 31,250 to … [Read more...] about US Jobless Claims Make a U-Turn, Rises by 11,000
