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On August 15th, construction workers discovered over 50 unexploded ordnance believed to be from World War II in downtown Warsaw, Poland, on August 13th. Approximately 4,000 people were evacuated. The ordnance has since been cleared. According to Polish sources on August 14th, construction workers discovered the unexploded ordnance while carrying out earthworks near the intersection of Grzybłowska Street and Želazna Street on August 13th. Bomb disposal experts arrived at the scene on August 14th, evacuating residents from eight nearby buildings and prohibiting pedestrian and vehicular traffic within a 400-meter radius of the discovery site. The bomb disposal operation concluded that afternoon. It is reported that two other World War II-era explosive devices were discovered in downtown Warsaw last week.On August 15th, Iranian Foreign Minister Araqchi stated in a media interview on August 14th that while mediators Qatar and Pakistan are exchanging information and maintaining contact with Iran, this does not signify ongoing negotiations. Iran has not yet decided whether to resume negotiations with the United States. Araqchi also stated that negotiations between Iran and Oman are ongoing and relate to determining the navigation routes through the Strait of Hormuz for ship passage; this is a completely different issue from the opening of the Strait of Hormuz. Araqchi emphasized that Iran will only restore passage through the Strait of Hormuz if the United States complies with certain conditions.August 15th - According to real-time data from Lighthouse Pro, as of 12:22 PM on August 15th, the film "Welcome to Dragon Restaurant" has surpassed 600 million yuan at the box office.August 15th - According to the New York Times, supply problems for the USS Abraham Lincoln aircraft carrier began shortly after the first day of the war – when Iranian missiles and attack drones struck a US Navy base in Bahrain. This attack was Iranian retaliation for the US-Israel joint attack on Tehran, and much of the bases infrastructure was destroyed. Along with the smoke, a major logistics hub upon which the Navy relied was also destroyed. The Navy urgently needed backup plans to continue supplying sailors operating around the clock to maintain air support and, later, to maintain the blockade of Iranian ports. The loss of the Bahrain logistics hub led to numerous problem reports on the carrier supporting the war effort against Iran, and Democratic senators expressed concern about the 5,000 sailors on the Lincoln and its nearly nine-month deployment.August 15th - According to Politico, President Trumps demands on the Navy reached their peak this month, threatening to further weaken an already heavily financially and logistically burdened branch of the military. Trumps deployment of the USS Abraham Lincoln aircraft carrier has set a record, with the ship having been at sea for nine consecutive months, and sailors families warning that the crew is nearing its limit. A government report indicates that Trumps proposed "golden fleet" of new battleships will cost billions of dollars more than expected. Meanwhile, experts have criticized the presidents order to reinstate outdated technology, a move that could completely disrupt ship production. These problems are now compounding, significantly increasing the pressure on the U.S. Navy. The Navy itself is chronically plagued by delays, cost overruns, and a shrinking fleet, all of which could jeopardize its ability to defend the nation. One U.S. official said, "Our warships are exhausted in the Middle East and the Caribbean, with no end in sight. The Navy is really on the line right now."

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.