Writing the summary…
We're raising our Micron price target after an incredible quarter and robust guidance
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Oil prices rise as Chinese refiners reportedly ban October fuel exports; Brent crude back above $100
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Japan's prime minister says her policies will boost confidence in the yen after U.S. intervention falls short
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UK 30-year borrowing costs hit 6%, highest since 1998, as government bond sell-off intensifies – business live
Global bond rout kicks off again, with US 10-year Treasury yields hitting highest since 2002 Worryingly for Paris, the difference between French and German borrowing costs has widened to a 14-year high this morning. The gap between French and German government bond yields – a market gauge of the risk premium investors demand to hold French debt - was at 127.51 bps, after reaching 128.80 bps, its highest level since June 2012, Reuters reports . Inflation, deficit and issuance concerns continue to weigh on the bond market. There is also a buyers strike on the street as investors do not want to step in till we get some form of stability. Hedge Funds have suffered in the latest round of sell-off and do not have the risk appetite to fade the move. Real money, potentially has the risk appetite, but won’t step in till we get some stability. Continue reading...
Bargain Britain lures foreign buyers as hostile takeovers surge
International capital is driving a surge in public takeovers in the G7’s fastest-growing economy.