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Citigroup gave Dell (DELL.N) a 30-day upside outlook ahead of its earnings release.According to the Financial Times, British fintech company Revolut plans to achieve a valuation of $200 billion when it goes public in the future.April 21 – According to five sources and Reuters calculations, Russia was forced to cut oil production in April due to Ukrainian drone attacks on ports and refineries, as well as disruptions to crude oil supplies through Russias only oil pipeline to Europe. Sources indicated that Russian oil production in April likely fell by approximately 300,000 to 400,000 barrels per day compared to the average level at the beginning of the year, potentially the most severe monthly decline in Russian production since the pandemic began. Oil, primarily sourced from fields in the West Siberian Basin, is the lifeblood of Russias $3 trillion economy; therefore, the decline in oil production will reduce the fiscal revenue of the worlds second-largest oil exporter. However, the potential losses may be somewhat mitigated by the conflict with Iran. Russian Finance Minister Anton Siluanov stated last Thursday that high oil prices will help reduce the budget deficit.According to Hong Kong Stock Exchange filings, JPMorgan Chase increased its short position in Meitu (01357.HK) from 1.85% to 2.83% on April 15.According to five sources and related calculations, Russias oil production in April fell by about 300,000 to 400,000 barrels per day compared to the average level in the first few months of this year.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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