Sanctions will not target food, agricultural products from Russia – G7 statement

  • Calls on all partners to avoid unjustified restrictive trade measures that risk food insecurity
  • Stands by commitment to keep food and agricultural markets open
  • Calls on those partners with large food stockpiles to make them available without distorting markets

So much fluff. And this just adds to the proposal to put a price cap on Russian oil, which I still don’t get how they are going to go about it. Good luck trying to convince India or China to get on board for that.

Federal Reserve speakers coming up on Tuesday, 28 June 2022 – Barkin and Daly

8am New York time, which is 1200 GMT:

  • Federal Reserve Bank of Richmond President Thomas Barkin speaks in person on the economic outlook before the Halifax County Chamber of Commerce

12:30pm New York time, 1630 GMT:

  • Federal Reserve Bank of San Francisco President Mary Daly Chapman participates in a virtual fireside chat in an event hosted by LinkedIn
  • Daly (on top) and Barkin

    barkin daly 28 June 2022

Largest pension fund on the planet is making a killing on the weak yen

Japan’s Government Pension Investment Fund (GPIF) is the largest pool of retirement savings in the world. GPIF manages and invests the Reserve Funds of the Japanese Government’s Pension Plans entrusted by the Minister of Health, Labour and Welfare.

The fund is likely to report a second consecutive gain of around 5.6%, mainly thanks to the weak yen boosting the value of its foreign holdings.

Yen has tumbled sharply:

usdyen weekly 28 June 2022
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