JPMorgan Manager Bets on Steeper Curve as Tariffs Begin to Bite

JPMorgan Manager Bets on Steeper Curve as Tariffs Begin to Bite

LAGOS (Capital Markets in Africa) – JPMorgan Asset Management’s Iain Stealey thinks his fellow bond traders aren’t being aggressive enough about the Federal Reserve’s future policy path. The fund manager expects that slowing global growth and deep-seated U.S.-China trade tensions will force the Fed to lower rates twice more in 2019. That’s more than futures traders, who are pricing in roughly 29 basis points of easing by the end of the year. Stealey is wagering that a…

Read More

Dublin the Winner as Brexit Sends London Finance Firms Fleeing

Dublin the Winner as Brexit Sends London Finance Firms Fleeing

LAGOS (Capital Markets in Africa) – The financial industry is prepared for Brexit, regardless of the state of political talks, with hundreds of banks and money managers primed to move thousands of employees to their European Union bases to weather the fallout, according to a new study. New Financial, a London group that analyzes the sector, said in a report on Wednesday that it has identified 332 firms that have relocated part of their business,…

Read More

British Pound Clings on to Gains in Face of Impasse Over Brexit Talks

British Pound Clings on to Gains in Face of Impasse Over Brexit Talks

LAGOS (Capital Markets in Africa) – Pound traders are holding on to Brexit optimism as talks toward a Brexit deal remain stuck over the contentious Irish border. Sterling touched a five-month high Wednesday after surging the most since 2008 in the past four days as an end to the Brexit saga appeared to be in sight. The currency swung between losses and gains as the Democratic Unionist Party denied reports it may support some of…

Read More

Brexit Talks Make Progress But Leave Johnson’s Key Allies Uneasy

Brexit Talks Make Progress But Leave Johnson’s Key Allies Uneasy

LAGOS (Capital Markets in Africa) – British and European Union officials will resume their efforts to nail down a Brexit deal on Wednesday after a late night of talks in Brussels that the U.K. described as constructive. But even if British Prime Minister Boris Johnson can secure the divorce agreement he wants in time for a summit starting on Thursday, he faces a major hurdle convincing the U.K. Parliament to vote for it. The pound, which surged on Tuesday,…

Read More

Anti-Smuggling Border Closure Gives Nigeria Inflation Headache

Anti-Smuggling Border Closure Gives Nigeria Inflation Headache

LAGOS (Capital Markets in Africa) – The shutdown of Nigeria’s land borders to tackle rampant food smuggling and encourage an agricultural revival in Africa’s top oil producer is having an unintended side effect: higher inflation. A spike in food prices saw the annual consumer-inflation rate rise to 11.2% in September, after falling to a 3 1/2-year low in the preceding month, the National Bureau of Statistics said Tuesday. Food-price growth accelerated for the first time…

Read More

African Free Trade Stumbles With Nigerian Blockade of Benin

African Free Trade Stumbles With Nigerian Blockade of Benin

LAGOS (Capital Markets in Africa) – Nigeria and Benin are embroiled in a trade dispute two months after signing an agreement to free up the movement of goods and services in Africa. Nigerian President Muhammadu Buhari ordered the partial closing of its boundary with Benin last month to curb the smuggling of rice and other commodities. The blockade has had a ripple effect across West Africa, with factories and traders struggling to import key raw materials…

Read More

China Wants More Talks Before Signing Trade Deal With Trump

China Wants More Talks Before Signing Trade Deal With Trump

LAGOS (Capital Markets in Africa) – China wants to hold more talks this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter. Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalize a written deal that could be signed by the presidents at the Asia-Pacific Economic Cooperation summit next…

Read More
1 248 249 250 251 252 1,070