International - Financial Times - Credit Squeeze

Given all this fragility, recessionary or inflationary shocks — or even both together — are conceivable

Investors bet on a return to sub-zero interest rates as central bank tries to restrain soaring Swiss franc

Also in today’s newsletter, the US president locks horns with conservative activist Leonard Leo

Officials make clear the central bank would be a lean, mean, rate-cutting machine if the president ditched his tariffs

No one knows what the US president’s desired endgame with Beijing really is

Also in today’s newsletter, xAI’s share sale, and inflation turns negative in Switzerland

Luvsannamsrain Oyun-Erdene loses key parliamentary vote in country with vast mineral wealth

Organisation slashes forecasts and says US will be hit particularly hard

And QE by bank

Companies may struggle to manufacture silicon in Taiwan with export controls preventing updates to design tools

Capital markets need to be better attuned to individual countries’ goals and the interests of workers

Brussels accepts exclusion of dairy and other ‘sensitive’ farm products with expectations of a pact by December

Financing round for Germany’s Scalable Capital values it at about €1.5bn

Treasuries under pressure following warnings on American debt load

Bloc votes to exclude trading superpower’s bidders from contracts worth more than €5mn for next 5 years

Who will best react to the economic and geopolitical challenges facing the US?

Karol Nawrocki’s election victory will also strengthen Euroscepticism in central Europe, officials fear

The US president’s arsenal of coercive economic weapons has a lot of lethal ordnance left

Despite his rhetoric about fire and fury, the president is nervous about the use of force

Also in today’s newsletter, Scott Bessent seeks to assuage debt concerns and Jony Ive on his vision for AI