America’s Economic Gamble

Volatility is back. A long spell of calm, in which America’s stockmarket rose steadily without a big sell-off, ended abruptly this week. The catalyst was a report released on February 2nd showing that wage growth in America had accelerated. The S&P 500 fell by a...

May Starts Work to Steady U.K. for Brexit After Promotion

Theresa May now has just two days rather than two months to build a team to rescue the U.K. from its worst political crisis in a generation and begin extricating it from the European Union. May, 59, is on a fast track to succeed David Cameron as...

Pound Drops Most Since 2009 as U.K. Assets Awake to Brexit Risks

The pound dropped the most since 2009, leading a decline in U.K. assets, as early results in Britain’s European Union referendum punctured confidence the “Remain” campaign was heading for victory.   Britain’s currency tumbled against all of its major counterparts, and FTSE 100 Index futures contracts slid after...

Pound Strongest This Year as ‘Remain’ Seen Winning EU Referendum

The pound climbed to its strongest level since December amid speculation that U.K. voters opted to remain in the European Union. Sterling jumped Thursday as opinion polls conducted before voting started showed a lead for the ‘‘Remain’’ camp, adding to speculation the U.K. would stay a...

Brexit Campaign Resumes With Migration Debate

The Brexit campaign resumed on Sunday with disagreements over immigration as both camps sought to tone down their rhetoric after the killing of Labour Party lawmaker Jo Cox and new polls showed “Remain” with a slight lead. Prime Minister David Cameron wrote in the Sunday Telegraph...

Pound May Lose Its Reserve Currency Status on Brexit, S&P Warns

A Brexit wouldn’t just weaken the pound -- it would jeopardize its status as a reserve currency used in world trade, according to S&P Global Ratings. Sterling lags only the dollar and euro in central banks’ holdings, a legacy of Britain’s large economy, its trusted legal...

Iran’s Crude Exports Surge With Days to Go Before Freeze Talks

Iran’s crude shipments have risen by more than 600,000 barrels a day this month, adding to the pressure facing producer nations as they prepare to meet in Doha to discuss freezing output to prop up oil prices. Tankers carrying about 28.8 million barrels of crude, or...

Bank of England Raises Buffer Rate as Stability Risks Grow

The Bank of England said banks should begin building up capital earmarked to support lending when the economy turns down, as the outlook for U.K. financial stability worsens. The BOE’s Financial Policy Committee raised the countercyclical capital buffer rate for U.K. exposures to 0.5 percent of...

Wall Street’s No. 1 Technical Analyst Says ‘Fade This Breakout’

One of the most widely-followed Wall Street analysts isn’t convinced that the recent rally in U.S. stocks means the worst is over. While the Standard & Poor’s 500 Index’s 2.4 percent surge Tuesday pushed it through its average price over the past 50 days and above...

Oil Market Storm Clears as Prices Stabilize on Output Deal

Oil is pulling away from the market’s biggest storm in seven years. A measure of price volatility has tumbled from the highest level since January 2009 as the market frenzy eases amid a potential pact between the world’s largest producers to freeze output. Investors in February fixated on how...