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  • Business
    Reuters

    Runaway dollar pauses for breath as bears stalk stocks

    Asian markets attempted to stabilise on Tuesday after a wild few days of stumbling stocks, crumbling bonds, a plunging pound and soaring dollar, with the dollar easing a bit and stocks flat. S&P 500 futures rose 0.7%, and MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1%. Analysts were doubtful about the outlook, however, as markets - already jittery at the prospect of U.S. interest rates staying higher for longer - have been further unnerved by an upheaval in British assets in response to government spending plans.

  • Business
    Bloomberg

    Crypto Exchange FTX Wins Bankrupt Firm Voyager’s Assets

    (Bloomberg) -- FTX US, the digital-asset exchange founded by billionaire Sam Bankman-Fried, won the auction for the assets of bankrupt crypto brokerage Voyager Digital Ltd.The agreement is valued at about $1.4 billion, comprising an “additional consideration” worth about $111 million and the $1.3 billion market value of all the cryptocurrency at the bankrupt platform, according to a statement from Voyager Digital on Monday in New York.Customers will be able to transfer to the FTX US platform aft

  • Business
    Bloomberg

    Treasury Yields Surge in Worst Selloff Since March 2020 Crash

    (Bloomberg) -- US Treasury yields surged on Monday, with poor demand for a two-year note auction triggering renewed selling that propelled key benchmarks higher by more than 20 basis points -- and sent the 10-year rate up by the most since the March 2020 Covid crash.US inflation stuck near a four-decade high and a hawkish Federal Reserve that now expects to push policy rates to at least 4.6% in 2023 are driving bearish market sentiment, with poor liquidity exacerbating the moves. A renewed surge

  • Business
    Bloomberg

    Yuan Plunge Nears 14-Year Low, Inviting Aggressive PBOC Pushback

    (Bloomberg) -- Traders are bracing for more pushback from China’s central bank as the yuan approaches the lowest level in 14 years.The onshore yuan has lost about 4% over the past month, trading within 1% of 7.2 per dollar, a level it hasn’t reached since 2008. The People’s Bank of China has already stepped up its currency defense, but it did little to stop the depreciation.Breaking the psychologically important level may prompt officials to take more measures to slow the depreciation in an atte