The Japanese novelist Kobo Abe once wrote, “There is always order in the distant view. No matter how strange the happening, it can never project from the frame, from the order which this distant view possesses.” For the past several years, the U.S. housing market has been seen through the spectrum of a distant view,…
EU Countries Hunt for Global Coal Stocks as Russian Ban Looms
April 6, 2022
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LONDON—European buyers are increasing shipments of coal from across the globe against a backdrop of a proposed European Union ban on Russian imports and the scramble to relieve tight gas supplies, according to data and shipping sources. The European Commission on Tuesday proposed new sanctions against Moscow over its invasion of Ukraine, including a ban…
Russia to Pay Eurobonds in Roubles as Long as Reserves Remain Blocked
April 6, 2022
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Business & Economycrisiseconomic policieseconomyEurobondsEuropeMarketsRoublesRussiaRussia-Ukraine WarUkraineWorld
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LONDON—Russia edged closer to a potential default on its international debt on Wednesday as it paid dollar bondholders in roubles and said it would continue to do so as long as its foreign exchange reserves are blocked by sanctions. The United States on Monday stopped Russia from paying holders of its sovereign debt more than…
Oil Rises as New Russia Sanctions Outweigh Demand Worries
April 6, 2022
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LONDON—Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up $1.14, or 1.1 percent, at $107.78 a barrel as of 1115 GMT. U.S. West Texas…
Stocks Slip, Bonds Hit as Bets on Fed Action Rise
LONDON—Global share prices eased and U.S. Treasury yields hit multi-year highs on Wednesday as investors bet that the U.S. Federal Reserve will couple shrinking of its balance sheet next month with a big interest rate hike to quell decades-high inflation. Investors also waited for details of the latest package of coordinated sanctions on Russia from…
Euro Feels Weight of French Election Concerns, More Russia Sanctions
April 5, 2022
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LONDON—The euro weakened on Tuesday with the Swiss franc and the Swedish crown the winners as French election worries and the chance of more sanctions against Russia unnerved investors. French financial markets acknowledged the possibility of right candidate Marine Le Pen beating President Emmanuel Macron in this month’s elections, with sharp losses on Paris blue…
Oil Extends Rally on Prospect of More Russia Sanctions
April 5, 2022
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LONDON—Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled. Brent crude was up $1.17, or 1.1 percent, to $108.70 a barrel at 0952 GMT. U.S. West Texas…
Stocks, Oil, Bond Yields Edge up Ahead of Expected New Russia Sanctions
April 5, 2022
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LONDON—Traders were back on Russia sanctions watch on Tuesday with oil, inflation-sensitive bond yields, and stocks all edging higher ahead of an expected new measures from the West in coming days. Europe saw the STOXX 600 index nudge 0.3 percent higher as oil, industrial, tech, and insurance stocks all made ground, while the euro clawed…
Henkel to Continue Business in Russia for Now
BERLIN—Henkel will continue doing business in Russia for the time being, the German consumer goods group’s chairperson said on Monday, adding that the company’s activities in the country are subject to restrictions. “This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable…
Talk of New Sanctions on Russia Weighs Down the Euro
LONDON—The euro edged lower on Monday after Germany and France said a new round of sanctions targeting Russia were needed amid war crimes allegations in Ukraine. The euro, which has been under pressure due to worries about the economic damage from the war in Ukraine, slipped 0.15 percent versus the dollar to park at $1.1031…
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