Bond rout, Mideast worries drag European shares to one-month low

A new report finds global fintech revenues topped $504 billion as sector growth outpaced traditional finance. This article appears in the July/August issue of Global Finance Magazine. A shift in sentiment is underway in the global fintech sector. Two years ago, the industry was still recovering from the post-pandemic fintech reset, which brought capital shortages, plunging…

TD Securities turns bearish on the Korean Won, arguing USD/KRW is likely to find support around 1,400 as prior KRW strength fades. They have entered short KRW positions versus both the Dollar and Japanese Yen via NDFs, citing stretched valuation, waning momentum and negative correlation to AI equities, while flagging unhedged foreign inflows as the…

Commerzbank’s Charlie Lay reports that the Bank of Korea (BoK) delivered a second consecutive 25 bp hike to 3.0% and kept a tightening bias, supporting KRW after its sharp appreciation since June. The bank expects a near-term pause but sees scope for another hike to 3.25% if growth and core inflation stay firm, with USD/KRW…

While the global economy generates unprecedented wealth for plutocrats like Elon Musk, it is, by design, highly unequal, dangerously over-indebted, prone to recurring financial crises, and ecologically disastrous. In such a context, radical reforms will be needed, beginning with the rejection of money as a commodity.