Kang Hyung-suk’s faith in cryptocurrencies was shattered by the $40bn collapse of Do Kwon’s cryptocurrency operator Terraform Labs, where he used to work in Seoul. Now he’s looking for payback. In about 10 days, Kang is flying to Dubai, the capital of the crypto-friendly United Arab Emirates, where he believes Kwon is hiding. “Finding him … Read more
A video grab from footage broadcast by the UK Parliament’s Parliamentary Recording Unit (PRU) shows Britain’s Chancellor of the Exchequer Jeremy Hunt announcing tax and spending measures, part of medium-term fiscal plan to MPs at the House of Commons, in London, on Oct. 17.-/AFP/Getty Images The sight of Britain’s new finance minister shredding up his … Read more
LONDON, Oct 17 (Reuters) – The sight of Britain’s new finance minister shredding up his leader’s economic policies on Monday illustrated something very clearly – bond market vigilantes are back, they are bold and governments had better pay attention. It took just three weeks for markets to force the UK, the world’s sixth largest economy … Read more
By Marc Jones and Yoruk Bahceli LONDON (Reuters) – The sight of Britain’s new finance minister shredding up his leader’s economic policies on Monday illustrated something very clearly – bond market vigilantes are back, they are bold and governments had better pay attention. It took just three weeks for markets to force the UK, the … Read more
Bank of England: won’t “hesitate” to hike rates “as much as needed.” Bond market fears much higher inflation and interest rates, for much longer. By Wolf Richter for WOLF STREET. It was thought that central banks, with their QE and interest-rate repression, had killed off any remaining bond vigilantes that used to hound governments that trafficked in reckless fiscal … Read more