• Reuters

    UPDATE 1-Markets price in less than three ECB rate cuts in 2024, Bund yield rises

    The euro area benchmark Bund yield hit its highest in almost five months on Friday as demand for safe-haven assets receded, while investors reduced their bets on European Central Bank interest rate cuts after recent robust U.S. data. Markets now see fewer than three 25 basis point (bps) ECB rate cuts in 2024. Forwards on ECB euro short-term rates (ESTR) on Friday implied 72 bps of monetary easing from 85 bps early this week.

  • Reuters

    US EPA allows temporary expansion of higher-ethanol gasoline blend this summer

    The U.S. Environmental Protection Agency will temporarily expand sales of higher-ethanol blends of gasoline this summer in an effort to reduce potential supply disruptions amid ongoing conflicts in Ukraine and the Middle East, it said in a letter dated Friday. The decision marks the third consecutive year the administration has lengthened the period during which Americans can keep buying E15, a gasoline that uses a 15% ethanol blend. Adding ethanol to gasoline is known to increase smog pollution in hot weather, but research has shown little difference between E15 and the more-widely available E10 blends.

  • The Telegraph

    Boris Johnson broke Government rules by being ‘evasive’ about links to hedge fund

    Boris Johnson has breached Government rules by being “evasive” about his relationship with a company that set up a meeting between him and Venezuela’s president, the business appointments watchdog has said.