Author: Jack Mulligan

Japan’s 40-Year Bond Yield Hits Record High Amid Rate Hike Speculation Japan’s 40-year government bond yield climbed to an all-time high on Tuesday, reaching 2.755%, as global debt markets faced a selloff and speculation grew about an upcoming interest rate hike by the Bank of Japan (BOJ). This marks the highest yield for the 40-year bond since its introduction in 2007. The 20-year bond yield also surged to its highest level since May 2011 following Japan’s return from a public holiday. Global pressures driving yield increases The surge in Japanese bond yields is part of a broader global trend. Concerns…

Biden Reflects on Foreign Policy Legacy as Trump Prepares to Take Office President Joe Biden delivered a farewell speech on Monday, highlighting his administration’s foreign policy achievements. He argued that under his leadership, the U.S. has become safer and more economically secure. As President-elect Donald Trump prepares to assume office, Biden emphasized the stability and strength he is leaving behind for the next administration. Strengthening alliances and advancing global security Biden underscored efforts to expand NATO, rally international support for Ukraine in its fight against Russia, and strengthen U.S. competitiveness in advanced chip manufacturing to counter China. “America is stronger.…

Billionaire Kiki Barki Bets Big on Nickel as Industry Faces New Challenges The nickel industry is undergoing significant transformations, attracting major players like billionaire Kiki Barki, who built his fortune in coal mining. Now steering his company Harum Energy toward nickel, Barki is making bold moves to capitalize on the metal’s potential, despite nickel prices ending 2024 below their 2023 close. Harum Energy’s strategic investments Harum Energy accelerated its nickel expansion in 2024 through a series of high-profile deals: These strategic plays underscore Harum’s commitment to positioning itself as a major player in the global nickel market. Nickel and the…

Devastation in Southeastern Ukraine A Russian guided bomb attack on Wednesday struck the southeastern Ukrainian city of Zaporizhzhia, killing at least 13 people and injuring 113, according to Ukrainian authorities. The explosion left bodies strewn across roads, damaged public transport, and caused severe destruction to residential and industrial areas. Rising Injury Toll and Aftermath Prosecutors updated the injury count from 63 to 113 on Thursday morning, after rescue operations concluded late Wednesday. According to regional governor Ivan Fedorov, two guided bombs were used to target a residential area. Medical Services Overwhelmed Fedorov described the attack as the largest surge in…

Relocation of Survivors Underway Relief teams in western China shifted focus on Wednesday to resettling survivors after a powerful earthquake struck near Shigatse, Tibet, a day earlier. More than 46,000 people have been relocated following the disaster, which left 126 dead and 188 injured. Survivors are receiving essential supplies, including tents, quilts, and stoves, to cope with the region’s harsh climate. Tibetan Vigils Held in India and Nepal Tibetan communities in India and Nepal held vigils for victims of the earthquake. In Dharamshala, India, about 200 Tibetans lit candles, marched, and chanted prayers in solidarity with the victims. The city…

Michael Barr Steps Down from Regulatory Oversight Role Federal Reserve Vice Chair of Supervision Michael Barr announced on Monday that he will resign from his regulatory oversight position on February 28, 2025, while remaining on the Fed’s Board of Governors until January 2032. This decision sets the stage for how President-elect Donald Trump will shape the U.S. central bank during his second term. Implications for Trump’s Administration Barr’s resignation allows Trump the opportunity to elevate a current Fed board member to oversee banking regulation. Analysts predict this move aligns with Trump’s preference for a lighter regulatory touch, avoiding a potential…

Spain closed out 2024 with its lowest December unemployment figures since 2007, reflecting steady economic recovery and job growth. According to the Labour Ministry, the number of registered unemployed dropped to 2.56 million, marking a 0.98% decrease from November and a 5.4% decline from December 2023. A Year of Progress in Employment Labour Minister Yolanda Díaz celebrated the achievement, stating on X: “We finished the year 2024 as we had started it: reducing unemployment, fighting precariousness, and with the will to go forward. In 2025 we will keep improving data and win over more time to live better.” While December’s…

China escalated its trade tensions with the United States on Thursday, adding dozens of American companies to its export control list in an effort to “safeguard national security and interests.” The move, announced by China’s Ministry of Commerce, prohibits exports of dual-use items—products with both civilian and military applications—to 28 U.S. entities. Sanctions on U.S. Defense Firms In addition to the export controls, China sanctioned 10 American defense companies, placing them on its “Unreliable Entities List.” The sanctions are a direct response to U.S. military sales to Taiwan, a self-governing island that Beijing claims as its own territory. According to…

South Korea’s political turmoil deepened on Tuesday as a court approved an arrest warrant for President Yoon Suk Yeol. This marks the first time in the country’s history that a sitting president has faced such a warrant. Yoon’s controversial declaration of martial law on December 3 triggered widespread protests, impeachment, and now legal proceedings that have left the nation in a state of crisis. Arrest Warrant Approved Amid Martial Law Controversy The Seoul Western District Court granted the warrant on charges of abuse of authority and orchestrating a rebellion, according to South Korea’s anti-corruption agency. Yoon had refused to cooperate…

A soft landing—a scenario where inflation normalizes without a significant rise in unemployment—remains a tantalizing possibility for the U.S. economy in 2025. For two years, the Federal Reserve has aimed to cool inflation without triggering a recession. While 2024 didn’t hit the Fed’s 2% inflation target, the economy grew steadily, and unemployment stayed low, fueling optimism among economists that the elusive soft landing may finally materialize. Signs of a Resilient Economy Key indicators suggest the U.S. economy could avoid a recession in the new year. Ashish Shah, chief investment officer of public investing at Goldman Sachs Asset Management, is optimistic:…