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White House official: Trump has discussed with oil companies plans to extend the blockade of Iran for several months if necessary.1. Wells Fargo: Still expects the Fed to cut rates twice this year, by 25 basis points, in September and December respectively. 2. ANZ: The Fed is very likely to restart its rate-cutting cycle in the third quarter of this year, most likely at the September meeting. 3. Goldman Sachs: Expects the Fed to cut rates by 25 basis points each in September and December, and believes the possibility of a rate hike this year is very small. 4. Bank of America: Downside risks to economic growth lead us to continue to predict a 50 basis point rate cut by the Fed later this year. 5. TD Securities: By the September decision, the market will have accumulated enough evidence to support the Feds gradual return to an easing cycle. 6. Standard Chartered: Once Warshs nomination is confirmed, the Fed will likely shift its focus to reviving the weak job market and resuming rate cuts. 7. Commerzbank: In the medium to long term, the Fed will be unable to resist pressure from the US president and may cut rates for the first time by the end of the year, followed by two more rate cuts in 2027. 8. Danske Bank: Expects the Federal Reserve to keep interest rates unchanged throughout the summer and eventually resume rate cuts in September and December. 9. Barclays: If inflation falls as expected, the Fed is expected to gain sufficient confidence to begin easing policy around September. 10. ING: Maintains its forecast that the Fed will cut rates twice this year, in September and December. 11. BNY Mellon: Assuming the Strait of Hormuz reopens, the Fed will cut rates twice in the fourth quarter.April 29 - International crude oil futures continued to climb as the standoff in the Middle East is expected to drag on, with the US and Iran continuing their respective blockades of the Strait of Hormuz. "The continued stalemate in negotiations between the US and Iran makes it increasingly unlikely that supplies through the Strait of Hormuz will return to normal in the short term," said Linh Tran, an analyst at XS.com, in a report. She added, "The market is no longer just anticipating risk, but a prolonged period of supply disruption."With the 60-day deadline approaching, US Republicans are discussing whether to authorize a war against Iran.According to Saudi media outlet alhadath, Israeli Prime Minister Benjamin Netanyahu has not received an invitation to travel to Washington.

Asian Stocks Fall as Economic Recession Concerns Persist

Aria Thomas

Jun 20, 2022 11:01

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The majority of Asia-Pacific equities were trading in the red on Monday morning, as investors fretted about a potential economic downturn brought on by major central banks' tightening monetary policies.


The Nikkei 225 dropped 1.72 percent on 10:24 PM ET (2:24 AM GMT).


The KOSPI decreased by 2.36 percent.


The Australian ASX 200 index fell 1.03 percent.


The Hang Seng index declined 0.74 percent.


The Shanghai Composite fell 0.38 percent, while the Shenzhen Composite rose 0.42 percent.


Last week, major central banks increased interest rates, heightening investors' fears of a recession. Wednesday, the U.S. Federal Reserve announced a 75 basis point increase in interest rates, the largest increase since 1994. The Swiss National Bank unexpectedly increased interest rates by 50 basis points on Thursday, the same day that the Bank of England lifted its rates to 1.25 percent.


"Market volatility has remained elevated, with the VIX index posting its highest weekly finish since late April," NAB analyst Rodrigo Catril told Reuters. "This pattern extends beyond stocks, with an increase in FX and rates volatility as well as wider credit spreads."


"At this juncture, it is difficult to foresee a turnaround in fortunes unless there is evidence of a significant reduction in inflationary pressures."


Wednesday and Thursday, Fed Chair Jerome Powell will speak before the House of Representatives. The Fed said last week that its commitment to taming inflation was "unconditional," and Fed Governor Christopher Waller stated on Saturday that he would back a 75-basis-point rate rise in July.


In an effort to combat inflation, U.S. President Joe Biden said on Saturday that he was contemplating eliminating certain tariffs on China and pausing the federal gas tax.


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