St. Louis Federal Reserve Bank (FRB) Chairman James Ballard urged his colleagues at the U.S. Federal Reserve (Fed) to raise interest rates to 3.5 percent this year to slow the pace of inflation near a four-decade high. He noted, however, that the rate could be lowered again late next year or in 2024. Ballard is […]

The Russian Ministry of Finance is ready to settle claims regarding the completeness of debt obligations fulfillment on Russia-2022 Eurobonds, RBC reports citing the press service of the ministry. The Credit Derivatives Committee earlier recognized the non-payment of additional interest of $1.9 million on Russian Eurobonds maturing in 2022. A number of owners of external […]

The U.S. Department of Commerce has released a list of 71 entities from Russia and Belarus subject to U.S. export restrictions. A document published in the Federal Register states that the U.S. Department of Commerce is amending the U.S. Export Administration Regulations (EAR), adding 71 entities to the list of organizations subject to trade restrictions. […]

During today’s trading, the dollar exchange rate against major world currencies is generally stable after a sharp decline the day before, caused by uncertainty about the further plans of the Federal Reserve System (FRS). The index calculated by ICE, which shows the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, […]

Rates on 30-year mortgages in the U.S. fell by 1 basis point in the week ended June 2. At the same time, the decrease was observed for the third week in a row, according to data from the state mortgage corporation Freddie Mac. The average interest rate on a 30-year mortgage fell to 5.09% in […]

The CEO of electric car maker Tesla Inc, Ilon Musk, said on Thursday that Tesla’s Artificial Intelligence Day (AI Day) has been moved to September 30, Reuters writes. “Tesla’s AI Day has been moved to September 30 as we may have an Optimus prototype by then,” he wrote on Twitter. Recall that the Tesla Bot, […]

Russian citizens will be exempt from personal income tax when selling gold in bullion, and experts predicted a slowdown in GDP growth by 1-1.5% per year due to sanctions – these and other important news for Friday morning, June 3, in our daily review. The Russian government has approved the Finance Ministry’s proposal to exempt […]

There are more than 19,000 cryptocurrencies and dozens of blockchain platforms in the world today, but a number of cryptocurrency firms have said that many digital tokens will collapse and the number of blockchains will shrink in the coming years, CNBC writes. The forecast made by cryptocurrency experts is not the rosiest: for example, Brad […]

Shares of Russian metallurgical company Severstal fell by 12.2% to 716.40 rubles per paper at the Moscow Exchange as of 11:50 MSC. In just two days, the company’s securities have fallen in price by more than 25%. The sharp decline in Severstal shares began after the news that the Office of Foreign Assets Control (OFAC) […]

The U.S. market ended Thursday’s trading session higher as investors were able to halt two days of declines by ignoring pessimistic news from Microsoft and another view of a sharp Fed rate hike, Business Insider writes. Microsoft revised downward its fourth-quarter revenue and earnings forecasts due to unfavorable currency fluctuations, and Fed Vice Chair Lael […]

Natural gas futures prices declined during the European session on Friday. At the New York Mercantile Exchange natural gas futures for delivery in July are traded at $8.31 per million Btu, down 2.04% at the time of writing this commentary. The session low was $/mmBtu. At the time of writing, natural gas found support at […]

During today’s trading, the US dollar is getting cheaper against the euro, yen and pound sterling. Calculated ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) fell by 0.1%, the broader WSJ Dollar Index – also by 0.1%. As of 9:24 Moscow […]

Oil is getting more expensive today amid a more significant than expected rise in prices for Asian buyers by the Saudi state company Saudi Aramco. This decision was perceived by the market as a signal of Saudi Arabia’s confidence in the growth of demand for oil, notes Bloomberg. Saudi Aramco said yesterday that it will […]

The U.S. is not ready to ease anti-Russian sanctions in exchange for the resumption of grain exports through the Black Sea, Politico reported, citing officials from President Joe Biden’s administration. The U.S. is closely monitoring talks on resuming grain exports across the Black Sea that the U.N. and Turkey have been holding with Russia. One […]

U.S. stock indices fell sharply on Friday after the publication of statistical data on the U.S. economy, which confirmed investors in the opinion that the Federal Reserve System (FRS) will continue rapid tightening of monetary policy. The Dow Jones Industrial Average index fell 348.58 points (1.05%) to close at 32899.7 points. Standard & Poor’s 500 […]

The Dow Jones service has stopped supplying Russian banks with sanctions data, while the volume of funds raised by IPOs in the U.S. and Europe in 2022 has fallen by 90% – these and other important news for Monday morning, June 6, in our daily review. Russian banks have a problem with obtaining compliance information […]

In May, the net outflow of funds from retail mutual funds amounted to 11.3 billion rubles, compared to a record 23.2 billion rubles, which investors withdrew from mutual funds a month earlier. This is reported by “Kommersant”, referring to the data of Investfunds. The average daily outflow last month changed less significantly – to 0.628 […]

Russian diamond mining companies are reducing the volume of exports to major markets, Kommersant reported citing statistics from India and Belgium. According to India’s Ministry of Industry and Trade, in March imports of rough diamonds totaled 209,000 carats, which is half as much as in March 2021. In total, from January to March, Russia supplied […]