Global companies have pulled more debt sales in the past six months than in all of 2020. More than 70 deals have been postponed or canceled so far in 2022, according to data compiled by Bloomberg. That’s compared with 37 during the full year of 2021, and 67 in 2020. 

After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers. Izzy Englander’s Millennium Management has grown its staff in the Dubai International Financial Centre to about 30 since securing a license in 2020. Michael Gelband's ExodusPoint Capital Management, one of the largest multi-strategy hedge funds in the world, registered in the DIFC in June, according to a filing.

Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned.

Treasury holders reeling from the most brutal first half on record are starting to bet that a worsening economy will deliver some relief from the relentless selloff even as they brace for the risk of more weakness.

The dollar sealed its best quarter since 2016 this week while S&P 500 suffered the worst first half in more than five decades. Leading central bankers warned that high-inflation regime may be here to stay -- a possible paradigm shift that may warrant even more aggressive policy response than expected. Global bond yields tumbled on mounting recession worry and base metals capped their worst quarterly performance since 2008.

Argentine President Alberto Fernandez tapped Silvina Batakis as the country’s new economy minister Sunday after her predecessor resigned Saturday, deepening a political crisis boiling over into the economy and markets. 

There’s more downside ahead for Taiwan stocks, if they are to mirror the underperformance seen when the Internet bubble burst in the early 2000s. The Taiex index is already one of the worst performers in Asia this year, with its tech component driving the pain.

The worst US stock selloff in half a century may not be over, some investors say, including Michael Wilson at Morgan Stanley. Most MLIV Pulse survey respondents think earnings forecasts will be slashed. Treasury holders are starting to bet a worsening economy will deliver some relief. Any recession may be long but modest, economists say, albeit not as bad as the GFC or the '80s. EMs are now ready for a US recession, and may even be able to lure investors.

Major banks are ratcheting up funds for the global commodities trade as Russia’s war in Ukraine drives up prices for everything from crude oil to corn.

Asian equities face another road block to a sustained rebound, with new orders on a downward track. The latest JPMorgan global PMI data shows the new orders component has dropped past the level seen in January 2020, just before Covid collapsed the index.

Germany’s foreign trade balance just came in at -1 billion euro. Which is the first negative print for that number since 1991.

The European Central Bank will “tilt” its corporate bond holdings toward issuers that demonstrate a “better climate performance,” marking its most significant shift yet to weave environmental considerations into monetary policy. 

China’s virus cases continued to climb over the weekend with hundreds of infections detected in Anhui province, where two counties were already in lockdown. The country reported 380 cases on Sunday, following 385 on Saturday. Infections have surged in recent days after holding below 50 for most of the previous two weeks.

The RBA is set to hike for a third month in July, adding 50 bps to bring the key rate to 1.35% and signaling more in coming months.

Joe Biden may announce a rollback of some US tariffs on Chinese consumer goods this week, along with a new probe into industrial subsidies that may lead to more duties in strategic areas like technology. Biden hasn't made a final decision and the timing may slip, people familiar said.

The base-case expectation isn’t for a recession in the US, a Goldman Sachs Group Inc. strategist said Monday.  Monetary tightening is likely to continue and there may be a “technical” recession, Gurpreet Gill, a macro strategist of global fixed income at Goldman Sachs Asset Management, told Bloomberg Television. That happens when there are two consecutive quarters of negative growth in real gross domestic product. 

Most Asian stocks rose Tuesday along with US equity futures amid speculation the Biden administration could scrap some Trump-era tariffs on Chinese consumer goods. Treasuries fell after reopening from a holiday.

Among the narratives that accompanied Bitcoin’s serial spikes to eye-watering heights the past decade was the idea that it and other crypto currencies offered an excellent hedge against inflation. That theme initially played out just fine as CPI rates soared earlier in 2021, but things changed as the year drew to a close. That was when the Fed dropped “transitory” from the lexicon and moved toward hiking interest rates.

China has largely escaped the crippling consumer inflation afflicting other major economies, but that may be starting to change as pork prices surge. The government has embarked on a campaign to rein in the market for pork, just as higher costs of its staple meat threaten to breach inflation targets and complicate efforts to stimulate growth. Hog futures in Dalian have risen to their strongest in a year, while wholesale meat prices are at a six-month high.

China is concerned about US economic sanctions and tariffs, Chinese Vice Premier Liu He told Treasury Secretary Janet Yellen Tuesday. The Chinese side expressed its interest in issues including the lifting of additional tariffs on China, sanctions by the US and fair treatment of Chinese enterprises, Liu said in the video call, according to a statement from China’s Ministry of Commerce. 

The US 2s10s curve has inverted again, highlighting the burgeoning concerns that too-high inflation and too-low growth will be the themes for the rest of 2022. There’s an air of caution across a number of Asian markets Tuesday, even as the risk-on narrative gets a bump from US-China talks and the Caixin PMI report.