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The US Dollar (USD) collapsed this week, helping EUR/USD reach a fresh three-month high just above the 1.1700 mark, heading into the weekly close a handful of pips below that level but still firmly up.Unexpected boost to US liquidityThe USD sell-off was triggered by the United States (US) Department of the Treasury, which announced on Wednesday that it will increase the government debt repurchase size by at least double. According to the press release, the current maximum size of $2 billion per operation will be at least $4 billion per operation, and the change will become effective September 9.The announcement,…

The week that wasIt was not geopolitics, the US-Japan joint FX intervention to support the beleaguered Japanese currency or the omnipresent bets on what the Federal Reserve (Fed) might do in the second half of the year that kept the US Dollar (USD) well on the back foot over the past five days. The new kid on the block this time is the US bond market, a new player who has been growing in importance and simmering on the back burner.Indeed, following Wednesday’s announcement by the US Treasury Secretary Scott Bessent that the Treasury will buy back larger amounts of…

DBS economists Taimur Baig and Radhika Rao expect the Bank of Korea (BoK) to raise its base rate by 25bps to 3.00% at the August meeting, alongside upgraded Gross Domestic Product (GDP) and Consumer Price Index (CPI) forecasts. They highlight stronger-than-expected first-half growth, persistent core inflation and rising housing prices, but also note a hawkish hold is possible as financial conditions tighten and South Korean Won (KRW) appreciates.Rate hike with inflation concerns”We expect the Bank of Korea to raise the base rate by a further 25bps to 3.00% at this meeting, alongside an upgrade to its annual macroeconomic forecasts.””There is…

Listen to Faisal read this story.It’s 9am at Kew Bridge in west London, and tourists, runners and dog walkers are queuing up at the Dear Coco vintage Italian coffee cart.It is high-grade coffee made from the arabica bean, brewed in an expensive La Marzocco machine – and the price shows that, at £4.50 for an iced latte, £4.10 for a 10 oz latte, and £3.90 for a 6 oz flat white.It’s a price tag that would have once looked strikingly high, but across much of the UK the £4 threshold is well broken, including in chains that do not use…

Glantz from Rusi thinks that as legitimate businesses close, crime moves in. “Rents are down, there’s a lot of empty spaces, so landlords are willing to pretty much take just about anybody,” he says.Plumb came up with a new name for these areas: the “shuttered front”, a string of constituencies with struggling High Streets that Power to Change think could play a pivotal role in future elections.Indeed, Reform’s Nigel Farage and Richard Tice were among the first mainstream politicians to regularly talk about visible signs of High Street criminality.In 2024, Farage said at an event: “You can see High Streets…

Long-term borrowing costs in the US rose again despite an announcement from the government that it would intervene to try to lower them. Earlier this week, the Treasury Department said it would buy back more debt in a bid to lower rates being charged by investors on global bond markets, which governments and major corporations rely on to borrow money.While rates – or yields as they are called – eased on borrowing over 30 years following the intervention, they have since risen again. Such moves can affect mortgage rates and car loans.Economists said the surprise move by the US government…

San Francisco-based Baker Street Advisors has grown to $21 billion in assets under management, not through acquisitions, but an organic growth rate that has averaged about 12% over the past 15 years.Some of that growth was due to being in the right place, at the right time, according to CEO Chris Wilkens, who was among the firm’s first partners when it launched in the geographic heart of the tech boom.But there is more to the firm’s growth story. Founded by Jeff Colin in the early 2000s, Baker Street has held on to the philosophy that it would grow through new…

Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Cheng Xin | Getty Images News | Getty ImagesTencent on Wednesday posted a surge in spending in the second quarter, with executives touting the potential of “superior” returns on the company’s investment in China’s cut-throat AI market.The company said capital expenditures for the June quarter rose 65% to 52.8 billion yuan ($7.8 billion) from the previous quarter, as it continues to ramp up buying and building computing infrastructure to monetize its AI models. The company said its free cash flow…

Key PointsAMD’s 52-week range runs from $149.22 to $584.73, and shares trade near $465 as of this writing.Second-quarter revenue rose 50% year over year to $11.5 billion, with data center revenue more than doubling.At about $465, shares cost roughly 42 times projected earnings for the year ahead, down from about 53 times at the June peak.10 stocks we like better than Advanced Micro Devices ›Advanced Micro Devices (NASDAQ:AMD) is having one of those years where two opposite descriptions of the stock are both accurate. Shares trade near $465 as of this writing. That is more than triple the 52-week low…

If you are a malicious hacker, cybersecurity professionals may very well be the worst people in the world to try to hack, as there is a very good chance they are going to catch you. A person pretending to work for a leading crypto news site targeted several cybersecurity professionals around the time of the Black Hat and Def Con hacking conferences earlier this month. The hacker approached attendees on the social media site X, both via public replies and DMs, and then leveraged Google Docs in an attempt to trick the targets into installing malware, according to researchers.  On…