Author: Press Room

Good morning. An absolutely epic swing in stocks yesterday — from a miserable opening after the hot consumer price index report to an exuberant close — left Unhedged as puzzled as everyone else. Short covering? Derivative hedges unwinding? Technical voodoo? We don’t know, but a big equity rally on a day when the futures market priced in another 25 basis points of Fed rate increases was not on our bingo card. If you have a theory, we’re all ears: robert.armstrong@ft.com and ethan.wu@ft.com. Inflation is still hotSure, they’re hot, but didn’t we know that already? That’s what Unhedged wondered as we read…

A fire engine stand in front of a burning electrical substation during extinguishing a fire on September 11, 2022 in Kharkiv, Ukraine. Two people died after a rocket hit an electrical substation on the outskirts of Kharkiv. Explosions in the city rang out at 8:00 p.m. As a result of the impact of two Russian cruise missiles, the administrative building was destroyed, transformers caught fire. The entire city was completely blacked out for about four hours.Global Images Ukraine | Getty Images News | Getty ImagesUkraine has been dealing with a spate of Russian missile attacks on its energy infrastructure this…

The writer is an independent pension consultantWithin just a few days of September’s “mini” Budget, the UK’s company pension system seemed to be in meltdown, with apocalyptic headlines about scheme solvency, all blamed on so-called liability-driven investment.To calm things, the Bank of England announced it would buy up to £65bn of gilts — the long-term government IOUs that are the mainstay of UK pension fund investments. Although the nuts and bolts of how LDI works are complex and opaque, the big picture is clear.The extreme stress was not because pension schemes — and the company sponsors guaranteeing them — were…

China’s censors have stepped into high gear to scrub the internet of evidence of a rare protest in central Beijing and punish social media users who spread its message calling for President Xi Jinping’s removal. The small-scale demonstration, which involved a fire and two handwritten banners draped from a highway overpass, came as the Chinese capital bolsters security for the ruling Communist party’s most important political meeting in a decade.The banners demanded the removal of “dictator and traitor Xi Jinping”, days before the president is expected to secure a third term as party leader. The messages also called for an…

Melvin Gurung, aged one, drowned after being left alone for “a minute or so” by a lake at Manningford Trout Fishery in Pewsey, Wiltshire, on a family trip, an inquest heard A one-year-old boy drowned during a family fishing trip after he was left on his own for “a minute or so” near a lake, an inquest heard. Melvin Gurung had been playing as his parents and other relatives caught trout at Manningford Trout Fishery in Pewsey, Wiltshire, on November 14, last year. But he disappeared when Melvin’s uncle went to a toilet and told him to wait outside while…

New footage from January 6, 2021, shows a candid moment where House Speaker Nancy Pelosi threatened to physically strike then-President Trump, should he have joined those protesting at the Capitol.In the video, which was publicly shared Thursday, Pelosi admits the actions could have resulted in her going to prison — a consequence she said she would “be happy” to accept.”I hope he comes, I’m going to punch him out,” Pelosi tells her Chief of Staff Terri McCullough, who discourages her boss from making the comments. “I’ve been waiting for this, for trespassing on the Capitol grounds. I’m going to punch…

The Calgary Flames won their season opener for the first time in well over a decade with a 5-3 victory over the defending Stanley Cup champion Colorado Avalanche on Thursday. The Flames halted the NHL‘s longest active winless streak in openers — 0-10-2 after their last win in 2009 — by scoring twice in the second and third periods.Dillon Dube scored short-handed and defenceman Rasmus Andersson scored in the middle period. Elias Lindholm and Tyler Toffoli contributed power-play goals in the third and Brett Ritchie also scored for Calgary. Defenceman MacKenzie Weegar had a pair of assists. He joined Calgary’s…

Flooding in Victoria has become a serious concern for local businesses – especially for Lake Eppalock Holiday Park owners Peter and Leisa Rose.“We look like we are on an island,” Ms Rose told Sky News Australia.Ms Rose said the holiday park will have “up to 15 sites” affected by flood water. Source: Sky News

The Connecticut police officers fatally gunned down in a suspected ambush were remembered as “incredible, remarkable men” at a vigil where about 1,000 mourners reportedly poured into a local school to honor the slain cops. Bristol Police Sgt. Dustin Demonte, 35, and Officer Alex Hamzy, 34, were both killed and Officer Alec Iurato, 26, was seriously wounded Wednesday night when responding to a possible hoax domestic call, according to authorities. The man who allegedly opened fire on the cops, Nicholas Brutcher, was killed by police at the scene. The alleged gunman’s younger brother, Nathaniel was wounded in the shootout, police…

Playoff intrigue permeates Friday’s game between the Calgary Stampeders and visiting Hamilton Tiger-Cats. With three games remaining in the CFL’s regular season, the Stampeders and B.C. Lions (both 10-5) are neck and neck down the stretch for second in the West Division and the right to host the division semifinal.Hamilton (5-10) needs to get ahead of the Saskatchewan Roughriders (6-10) to avoid losing an East Division playoff spot to a crossover team from the West.“It’s not technically like playoff football yet, but it also kind of is,” Hamilton quarterback Dane Evans said Thursday in Hamilton.“Everybody on our team knows what…