Pimco clients withdrew $29 billion

Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.

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Pimco clients withdrew $29 billion

Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.

RBA raised interest rates but AUD falls

The central bank of Australia joined other countries by raising interest rates by 0.5%, from 1.35% to 1.85%, and further tightening the economy. However, the Australian Dollar declined in value after the decision against all currencies despite the Hawkish decision.

The U.S. officially enters a recession

The U.S. economy shrank for the second consecutive quarter, meeting generally recognized criteria for a recession. However, despite a 0.9 percent yearly decline in the gross domestic product, many economists claim that "we are not in a recession."

WB would not help Sri Lanka

Sri Lanka is currently in one of the worst situations in decades. One of the worst economic crisis that the country has seen has spread around mainly due to shortages of food, fuel and medicines. World Bank has specified that until the country stabilizes itself and offers structural reforms, it will not intervene with any help.

Fed with 75 bps hike again

The Federal Reserve has decided to hike interest rates by 75 bps yet again. The broad consensus was that the Fed will deliver a hike of this magnitude, which is a reason why many believe 75 bps was already priced in.

Central banks to be blamed for inflation

Graeme Wheeler, former New Zealand central bank governor, and Bryce Wilkinson, have co-authored a paper that looks at the central banks and their mistakes since 2019. They state for instance that the main cause of inflationary pressures lies in the errors of judgement made by central banks in conducting monetary policy during the Covid-19 pandemic.

More market movers

Pimco clients withdrew $29 billion

Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.

AMTD Digital is crashing

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BlackRock partnered with Coinbase

BlackRock, one of the world's largest asset management companies, has teamed up with the cryptocurrency exchange Coinbase. They will provide institutional investors with direct access to cryptocurrencies, which will be provided via Coinbase Prime.

GBP interest rates raised to 1.75%

Following the widely anticipated move by the Bank of England to raise interest rates to 1.75 percent from 1.25 percent, the British pound declined against the dollar and dropped below the $1.21 mark. This drove borrowing prices to their highest level since 2009.

OPEC+ with a decision

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HKD stock surged by 10,000% in 2 weeks

On July 15 of this year, the HKD IPO debuted, and since then, it has had an explosive surge. In fact, since its first public offering, the stock price of AMTD Digital (NYSE: HKD) has increased by more than 10,000%.

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