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According to the Italian news agency ANSA, Italy may slightly increase corporate taxes on large banks.On November 26th, Henderson High Income analyst David Smith stated in a report that he welcomed the UK governments decision to reduce stamp duty on newly listed companies on the London Stock Exchange. However, the portfolio manager pointed out, "The government could have taken more ambitious steps to enhance the attractiveness of the UK market." Currently, the UKs 0.5% stamp duty is particularly high among major global financial centers. He emphasized that this tax not only diminishes the value of savings but also increases the cost of equity financing for UK-listed companies, potentially leading to lower valuations.On November 26th, Deutsche Bank analyst Sanjay Raja stated in a report that the UK budget appears better than expected, with the fiscal buffer doubling from £10 billion in March to just under £22 billion. He indicated that public borrowing is expected to continue its downward trend. Budgetary measures could lower inflation, thereby increasing the likelihood of a Bank of England interest rate cut. Raja noted, however, that the fiscal austerity measures may take effect later, raising some questions about their credibility.1. U.S. EIA gasoline inventories rose by the largest amount since the week ending November 26, 2025, in the week ending November 21. 2. U.S. EIA distillate fuel oil inventories rose by the largest amount since the week ending September 12, 2025, in the week ending November 21. 3. U.S. EIA strategic petroleum reserves reached their highest level since the week ending September 30, 2022, in the week ending November 21. 4. U.S. commercial crude oil imports, excluding strategic reserves, reached their highest level since the week ending September 19, 2025, in the week ending November 21.The EIAs implied demand for U.S. distillate fuel oil production for the week ending November 21 was 5.0331 million barrels per day, compared to 4.9746 million barrels per day in the previous week.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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