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JPMorgan Chase: The Federal Reserve is expected to raise interest rates by 25 basis points in December 2026, compared with previous forecasts that interest rates would remain unchanged this year.July 30th - On Thursday, demand at the auction of Japanese two-year government bonds was lower than the 12-month average, as the market widely anticipated a tightening of monetary policy by the Bank of Japan. The subscription multiple was 3.63, compared to 4.82 at the previous auction, and the 12-month average is 3.81. Another sign of weak investor interest was the tail spread (the difference between the average bid and the minimum acceptable bid) at 0.007, compared to 0.005 last month. Recently, yields on short-term Japanese government bonds, which are more sensitive to monetary policy, have risen due to increased oil prices caused by tensions in the Middle East and heightened concerns about fuel inflation. The two-year yield has now risen to 1.47%, close to the high of 1.52% reached earlier this month. This further increases pressure on the Bank of Japan to raise interest rates.On July 30th, according to foreign media reports, Malaysian palm oil futures fell slightly on Thursday, marking their third decline in four trading days, mainly dragged down by weaker prices of competing edible oils and crude oil. The benchmark October palm oil contract on the Bursa Malaysia Derivatives Exchange fell 16 ringgit, or 0.34%, to 4,648 ringgit per tonne (approximately US$1,137.82) in early trading. Despite escalating tensions in the Middle East and the US-Iran conflict spreading beyond major fronts, oil tankers continued to leave the region, causing oil prices to give back some of their gains. Weaker crude oil futures reduced the attractiveness of palm oil as a biodiesel feedstock. The ringgit strengthened slightly by 0.07% against the US dollar, making it slightly more expensive for buyers holding foreign currency to purchase the commodity. According to documents from the Indonesian Ministry of Energy, the country has increased its 2026 biodiesel quota using palm oil as a feedstock to 16.75 million kiloliters to meet the increased demand from the B50 biodiesel blending policy launched earlier this month.Shunichi Suzuki, Secretary-General of the Democratic Party of Japan: The goal is to submit a tax reduction bill during the autumn Diet session.The bid-to-cover ratio for Japans 2-year government bonds was 3.63, lower than the 4.82 achieved in the previous issuance in June.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.