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If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don't need to go as far back as 1918. Instead, we can look to 1998 . That's the year Russia defaulted on ruble-denominated bonds, triggering a "Moscow meltdown" that infected markets around the globe. Quick rewind: In August 1998 , following years of upheaval after the fall of the Soviet Union, the Russian government defaulted on its local debt and devalued the ruble. The move sparked chaos in Russia, driving up inflation, causing an economic contraction and triggering bank … [Read more...] about Russia’s last default sparked a crisis. This time is different

- A + A (June 28):Investors caught in the web of international sanctions that pushed Russia into default on bond payments are faced with the choice of seeking recompense now, or biding their time. Sanctions aimed at punishing Russia for its invasion of Ukraine shut it out of the world’s financial system, blocking its ability to transfer funds to creditors. It missed payments in late May, and a final deadline to remedy the situation expired on Sunday, creating what the bond documents call an “event of default”. Holders of at least 25% of the outstanding notes can come together to declare the debt fully and immediately repayable, “without any further formality” — a process known as accelerating the debt — according to the documents governing the relevant bond contracts. They may be in no rush. Claims only become void three years on from the payment date, the bonds’ terms show. There’s the chance that if international penalties against President Vladimir Putin’s … [Read more...] about Russia’s foreign bond investors left caught in sanctions web

The machine learning boom is here, and it's only going to get bigger. When the pandemic decimated workforces and limited in-person interaction, artificial intelligence tools helped companies increase productivity. Industries such as hospitality , healthcare , and energy have all benefited from recent A.I. innovations, but there's more disruption on the horizon. I nstances of businesses using automated experiences are increasing, and automation is expected to grow in both the metaverse and in how companies pursue environmental, social, & governance (ESG) initiatives, according to Pranay Agrawal, co-founder and CEO of A.I. services and analytics provider Fractal. Here are three predictions from Agrawal on some of the next big steps for A.I. Customers will expect more from automation services. When the pandemic hit and businesses scrambled to adapt to a digital world, automation became much more commonplace in everyday life. People became used to seamlessly … [Read more...] about 3 Predictions for How A.I. Will Change Business Practices in the Near Future

Share to Twitter Share to Linkedin Within moments of meeting, the other person immediately forms an impression of you. A successful way to do well in an interview is by quickly capturing the interviewer’s attention—making them feel comfortable and like you. Obviously, skills are important, but people place a large premium on a person’s personality, looks and actions. The corporate world is usually buttoned-up and traditional. If you are interviewing for a job with an investment bank, you will most likely wear a sharp, tailored suit. At a startup tech company, a more casual attire is acceptable. The managers want someone who they feel comfortable with. Since they will work closely together with you, the supervisors want to like and trust you. To gain their interest, you need to play the game by doing a number of things. Here are some suggestions for making a great first impression. The Interviewer Is The Most Important Person In The World At this … [Read more...] about How To Make A Great First Impression In An Interview

- A + A WASHINGTON (June 28): US consumer confidence dropped to a 16-month low in June, as worries about high inflation left consumers to anticipate that the economy would slow significantly or even slide into recession in the second half of the year. Despite the gloomy outlook, consumers showed little sign of cutting back on spending, with buying plans for motor vehicles and other big ticket items like refrigerators and washing machines increasing, the survey from the Conference Board on Tuesday showed. But fewer consumers compared to April intended to go away on vacation at home or abroad, reflecting record high gasoline prices and expensive airfares. The economy is on recession watch as the Federal Reserve aggressively tightens monetary policy to tackle inflation. For now, it continues to grow, with other data on Tuesday showing the goods trade deficit again narrowing significantly in May as exports hit a record high. "Right now we are at an inflection point in … [Read more...] about Inflation saps US consumer confidence; house prices remain elevated