U.S. bankruptcy filings surged by 18% in 2023 on the back of higher interest rates, tougher lending standards and the continued runoff of pandemic-era backstops, data published Wednesday showed, although insolvency case volumes remain well below the level seen before the outbreak of COVID-19.
Most Asian stocks fell on Thursday, extending declines after a weak start to the year as persistent doubts over the timing and scale of the Federal Reserve’s interest rate cuts saw investors lock-in more profits.
Oil prices rose in early trade on Thursday, extending the previous day's sharp gains on concerns about Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war.
The dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month.
Indonesia has reduced its 2023 budget deficit significantly to 347.6 trillion rupiah ($22.48 billion), equivalent to 1.65% of gross domestic product (GDP) based on unaudited figures, its finance minister said on Tuesday.
Euro zone factories ended 2023 on the back foot, with activity contracting in December for an 18th straight month, according to a survey which gave scant signs of any imminent strong bounceback in an economy likely in recession.