Team permanent
The world’s largest sovereign wealth fund has warned that investors face years of low returns as the surge in inflation becomes a permanent feature of the global economy.
Nicolai Tangen, CEO of Norway’s $1.3-trillion oil fund, told the Financial Times that he is "the team leader for team permanent" in the fierce debate over whether the jump in rates is transitory or a lasting threat.
Financial Times
Crypto cracks
Sharp price swings in cryptocurrencies are causing "destabilising" capital flows in emerging markets, and the use of crypto in place of traditional currencies poses "immediate and acute risks", says Tobias Adrian, financial counsellor of the International Monetary Fund (IMF) and head of its monetary and capital markets department. Last week the IMF urged El Salvador to stop recognising bitcoin as legal tender, reiterating its warning that its adoption presented "large risks" for the stability of the country’s financial system.
Financial Times