Analysis: Blackstone REIT tightening is a possible warning sign for markets

LONDON, Dec 2 (Reuters) – While this week’s spate of redemptions at an unlisted Blackstone real estate trust (REIT) has had slightly broader repercussions, it is being read as a warning sign by some. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit target limits amid investor concerns … Read more

Analysis: Egypt is not out of the woods after IMF bailout deal

Egyptian pounds traded at an 8% discount on the black market October $3bn IMF deal helps drive up bond prices Little demand so far for treasuries or FDI, analysts say Egypt must repay $33.9 billion in external debt through mid-2025 CAIRO/LONDON, Nov 25 (Reuters) – Egypt’s finances remain in a precarious state despite two major … Read more

US job market shrugs off recession fears; keeps the Fed on the tightening path

Nonfarm payrolls up 263,000 in November Unemployment rate stable at 3.7%; the participation rate decreases Average hourly wages rose by 0.6%; +5.1% on an annual basis WASHINGTON, Dec 2 (Reuters) – U.S. employers hired more workers than expected in November and hiked wages, shrugging off growing worries of a recession, but that likely won’t stop … Read more

As the Fed plans to “raise and hold,” new projections could show the cost

WASHINGTON, Dec 2 (Reuters) – The U.S. Federal Reserve’s new projections, released later this month along with an expected half-point interest rate hike, could show the central bank’s target rate heading towards levels seen on Wednesday. last time on the eve of the 2007 financial crisis, and will also reveal policy makers’ best guesses about … Read more

US Consumer Spending Powers Ahead in October; cooling of inflation

Consumer spending increases by 0.8% in October Personal income increases by 0.7%; savings rate drops to 2.3% Core PCE Price Index Gains 0.2%; +5.0% on an annual basis Weekly jobless claims drop from 16,000 to 225,000 WASHINGTON, Dec 1 (Reuters) – U.S. consumer spending rose solidly in October as inflation eased, giving the economy a … Read more

Blackstone’s $69 billion REIT is holding back redemptions in a blow to the real estate empire

NEW YORK, Dec 1 (Reuters) – Blackstone Inc (BX.N) limited withdrawals from its $69 billion privately traded real estate investment trust (REIT) on Thursday after a spate of buyouts, a major blow to a franchise which helped transform it into an asset management behemoth. The limits came because redemptions hit pre-set limits, rather than Blackstone … Read more

US job openings fall in October; labor market still tense

Job openings fell from 353,000 to 10.3 million in October Q3 GDP growth revised to 2.9% from 2.6% Consumers, business expenses, exports account for the update The goods trade deficit widens by 7.7% in October WASHINGTON, Nov 30 (Reuters) – U.S. job vacancies fell in October but remained significantly elevated, indicating continued resilience in the … Read more

Once the arcane job opportunities survey becomes dear to the eyes of the Fed

WASHINGTON, Nov 29 (Reuters) – As a graduate student at Harvard University in the 1980s, Katharine Abraham tried to fill a gap in US economic data by piecing together an estimate of labor demand, essentially a better estimate of the number of jobs jobs open in the country. It drew on a patchwork of data, … Read more

The yuan is the new dollar as Russia heads for the redback

Russia turns to Chinese currency amid sanctions Moscow becomes the fourth offshore trading center for the yuan Yuan share in Russian FX market rises from 1% to 45% The Russian central bank supports the trend but warns of risks This content was produced in Russia, where the law restricts coverage of Russian military operations in … Read more

Crypto lender BlockFi files for bankruptcy as FTX ripple effect unfolds

The filing follows weeks after the FTX crash FTX listed as creditor no. 2 of BlockFi Bitcoin down more than 70% from 2021 peak Nov 28 (Reuters) – Crypto lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty following the spectacular crash of FTX exchange earlier this … Read more