Five Things You Need to Know to Start Your Day
Get up to speed with what the markets are monitoring
Good morning. Recession looms, Ukraine loses an urban holdout, Boris Johnson is in hot water again and European banks may just have to say goodbye to extra profits. Here’s what people are talking about.
Recession fears are sweeping across some of the world’s key economies and financial markets are bracing for impact. Nomura expects many major economies from the euro area to Australia to Canada to fall into recession along with the US over the next 12 months amid tightening government policies and rising living costs, pushing the global economy into a synchronized growth slowdown. The US retrenchment may be moderate but still long and painful — elevated inflation may hold the Federal Reserve back from rushing to reverse the downturn.